Dream Marriage is what most parents wish for their children, and most couples want. However, marriage is an expensive event. Not everyone’s pockets have the strength to deal with such expenses, which is why it is wise to go forward with a marriage loan. A marriage loan is a type of personal loan that can be availed by anyone easily. A marriage loan can be availed instantly, along with the funds being credited to your account instantly. A destination wedding is a new fad in the wedding industry of India, and it is gaining a lot of traction as well. A destination wedding is a unique experience.
You can opt for a marriage loan to help fuel your dreams of a destination wedding into a reality:
- As it is an established fact that marriage is an expensive affair, most people start saving for the same early on. However, it is a small gap that one needs to bridge in order to have better financial backing during a marriage. With a mix of savings and a marriage loan that can be availed to the value of Rs. 10 lakhs, one can live the reality of a destination wedding.
- A marriage loan is a type of personal loan that is unsecured in nature. Unsecured loans do not require you to pledge any of your assets as collateral. Along with this, the procedure is quite simple. You need to upload your salary slips and bank details apart from your personal identity proofs to apply for the loan.
- A marriage loan can also help you improve on your credit score. If you are someone who is applying for a loan for the first time, not having a credit score is not an inconvenience. Rather, it will help you build a credit history that will assist you in your future endeavours.
- To apply for a marriage loan, you need to be someone that is between the age group of 25 years to 45 years, having a monthly income of Rs. 20,000 or more for a tier 1 city and Rs. 15000 or more for a tier 2 city. Apart from this, you need to have been employed at organisations for a period longer than six months.
- With a marriage loan, you have the advantage of flexibility. You can tweak the rate of interest and premium payments to suit your monthly expenses as well as you can tailor your tenure for the loan. The loan tenure can range anywhere between 6 months to 60 months.
- A marriage is a once in a lifetime event for many and having it according to their preferences is the best gift they can get for themselves. A marriage loan is the financial backing to gift yourself the destination fairy tale wedding.
With some financial backing on your side, you can have a wonderful time planning your wedding. The pressure it takes off your shoulders to save costs is lifted and gives you an opportunity to enjoy your wedding.
