Know it all About Personal Loans for Marriage Purpose

In the past, personal loans have been already accolated for the ease of approval and disbursal it endows upon. Marriage happens once in a lifetime, and people aspire to create magnificence. It is obvious to have expectations to make it big and end up as a memorable affair. However, it is difficult to sponsor a grand wedding without a strong financial backup.

Indian weddings have been infamous for wasteful spendings. We are imagining marriages to be larger than life. Talk about from jewelry, clothes, fancy venues, etc. However, a grand marriage is an expensive affair. To be able to afford high-cost items, it is equally important to have an extensive budget. Even if you have saved money for future events, it is not sure to be adequately done. A marriage ceremony has different brackets of expenditures like house purchase & shifting, honeymooning, daily wear clothes, chores appliances, etc. A marriage event starts the string of expenses for a long-term goal. So obviously you would not like your one-time affair to go for a toss, due to insufficiency of funds.

So, how much does an average Indian marriage cost you?

A decently organized marriage should cost somewhere ranging between 15-10 lakhs at least.
For a large-sized budget, it is important to have advanced planning in order. Applying your long-saved deposits to organize your marriage plans will just be foolish.

We strongly recommend you take a personal loan and straighten out your marriage plans. Typically, we tend to approach close friends and family to have financial help. This is in the expectation to avoid rejections from elsewhere.

So, why make a ‘personal loan’ decision?

It is always said that opting for a personal loan is way better than being embarrassed. A personal loan can be easily opted for a quick disbursal of your choice. Plus, it can be paid up as per the repayment schedule, decided upon at the time of sanction. Easy EMIs can sort your life in times to come.

Apply for a Home Credit Personal Loan up to five lacs to cater to everything you need!

Quick Approval & Disbursal

With a marriage planned on your agenda next, it is difficult to decide without a plan. Even when you plan effectively, there are still chances for mismanagement. Here, a personal loan can offer you instant money at a click. It offers quick approval and fast disbursal.

Flexibility

The best thing about a personal loan is its flexibility of use. The loan amount can be used for wishful thinking. Let us say, you dreamt of a designer lehnga on your marriage. A personal loan can be easily allocated to this, of course in satiating other needs too.

Eligibility to get a Home Credit Personal Loan for Marriage 

The applicant must meet the following criteria:

• Be an Indian citizen aged between 18 and 60 years.
• Have valid ID proof and current address proof.
• Be employed, self-employed, or a pensioner.
• Maintain an active bank account.
• Ensure a minimum 90-day interval between two Home Credit loan applications.
• Demonstrate a monthly household income exceeding ₹25,000. “Household” refers to an individual family unit comprising a husband, wife, and their unmarried children.
• Need to be an existing customer of Home Credit (should have availed Ujjwal EMI Card/ Consumer Durable Loans/ Personal Loan/ Flexible Personal Loan in the past).

Read More: How to Apply Personal Loan for Your Sister Marriage?

Required documents for Quick Personal Loan

To confirm identity and safety, we require certain proofs to be readily available. Under is the list of documents that are often necessary:

• PAN card of the individual
• Address proof- passport, driving license, passport, Aadhaar card, utility bills, etc.
• Bank statement of the income account with active net banking

All to know about Marriage Loans

Marriage loan has a lot of similarity with personal loans but stands true to their name as they are used for financing the marriage ceremony.

• Low EMIs therefore easy repayment
• Early loan approval, early disbursal
• Flexible duration of repayment
• Pre-payment option available
• Customized offers
• The interest rate is variable.
• Minimal extra charges
• No guarantor