Factors to Keep in Mind While Opting for a Personal Loan for your Wedding

Marriage expenses vary from person to person. However, most weddings overshoot the outlines budget. With the rise in choices for almost everything, you get to choose the type of loan you want and suits you the best. 

A wedding is the symbol of commitment and lays the foundation for an exciting journey of a partnership of two individuals. It is of no surprise that getting married is one of the most exciting days in everyone’s life, which is why everyone wants their D day to be perfect. However, planning an Indian wedding is no less than a huge task. You set a budget for everything. No matter how firm you are with the expenses, you somehow cross the budget. In such a case, a personal loan for a wedding helps with the finances linked to your big day. 

 When looking forward to planning a wedding, the first image that may strike is a beautiful palace or beach setting, every soon to be groom and bride dreams of a marriage that creates memories to be cherished forever. 

 Here are a few factors to keep in mind while opting for a personal loan for a wedding:

 1. Plan your wedding budget stringently

Whether it is apparel or jewelry, you’re spoilt for choice for each item required in a wedding. With innumerable options available for food, venues and everything else, there are high chances that you might fall for the expensive things. In this case, making a proper budget and following it strictly will come in handy. You need to meticulously plan all your expenses and take a loan for the wedding accordingly. 

 2. Check out loan offers attentively

Before applying for a wedding loan, check for all the loan offers by different institutions to fulfill your financial needs. Various banks and NBFCs offer loans so that you don’t have to wait until you are financially stable enough to have a wedding. One of the leading digital NBFC, Clix Capital, offers marriage loans with a maximum loan amount that can go up to Rs 25 lakh. Furthermore, also figure out the marriage loan eligibility criteria. To be eligible to get a loan from Clix, if you’re over 25 years and under 58, earning a minimum income of Rs 25,000 per month with a total professional experience of at least 12 months, you are eligible. Hence, do your research properly and opt for the right financial assistance. 

3. Maintain a good credit score

Each financial lender checks your history for credit before approving your loan amount. If you have paid credit bills on time or repaid other loans as per tenure, then the lenders will consider you as a trustworthy applicant. Loan for a wedding in India is a variant of unsecured loan which doesn’t require any collateral, therefore, good credit history is a must. It plays a crucial role in the assessment of loan applications. Moreover, if the lenders see you are already paying EMIs then the chances of timely approval are low. You can get an idea of whether or not you are capable to repay your loan according to the tenure with the help of a personal loan EMI calculator. 

 With the help of a personal loan for a wedding, you no longer have to exclude certain things you’ve always imagined would be a part of your perfect wedding. You can consider the leading digital NBFC, Clix Capital as it offers marriage loans with a maximum amount that can go up to Rs 25 lakh and provides 100% financing for your D day. With this wedding loan, you can have the wedding of your dreams without worrying about any financial crunch. 

Sponsor Ads

• Ad Space Available - Rent it Now!

Report this Page

Created on Dec 11th 2019 04:25. Viewed 505 times.

Share on APSense

Comments