Weddings come once-in-a-lifetime and we all wish it to be perfect in every way. If you are planning to make a dream wedding possible a personal loan will prove out to be an optimal financial solution. Here are some reasons to choose an online Loan for Marriage.
Instant funds for Wedding Expenses
If you have good financial credentials and credit score, you can get a personal loan approved with no hassle at all. You will receive the funds directly into your account with minimum documentation. This means you can plan your wedding as you always dreamed and don’t have to worry about arranging funds.
No End-User Restrictions
There are no specific restrictions on how a borrower wishes to use marriage loan funds. You can use the funds to pay for wedding outfits, booking makeup artists, venue and banquet halls, catering cost, flight tickets for your honeymoon destination, etc.
No need to Liquidate Investments
The wedding is the most joyous of occasions in anyone’s life, but it also involves expenditures on an equally grand scale. Consequently, some people choose to redeem their savings early such as fixed deposit, PPFs etc. to pay for a wedding. It is strictly not suggested to liquidate your savings deposit before maturity. It would not be a wise financial step.
With a Personal Loan, you can fund the entire cost of the wedding, you can let your investments grow unremittingly.
Choice of EMI and Loan tenure
A personal loan typically comes with a flexible EMI repayment tenure, from a few months up to 3 years. You can customize your loan schedule based on your income and financial needs. The best way to estimate EMIs is by using personal loan EMI calculator. It will help you to plan your repayment better.
Competitive Interest Rates
Individuals with good credit history can avail a loan for marriage at the most competitive interest rate. Most Banks, NBFCs, and Peer to Peer Lending India platforms offer rates in the middle of 12% p.a. to 36% p.a. With a lower interest rate on loan, you can pay off the debt sooner.