Why You Should Apply for Wedding Loan? These are the Reasons

Last Updated : July 5, 2016, 10:49 a.m.

When it comes to weddings, they are fairly expensive, in fact even if you have a low-key wedding ceremony, also you are bound to spend a fortune. In order to have a perfect wedding, you need to pay for a venue, its decorations, look into the catering department, photography, entertainment services, and last, but not the least purchasing new jewelry & clothes. Well, of this amounts to a lot of money that can really create a hole in your pocket.

However, if experts are to be believed than the set spending amount of every wedding is expected to exceed the actual budget by least 30 percent. Thus, in order to avoid making this most important day of your life a stressful affair, you should budget the entire affair, and start searching a loan for your wedding. So, take a look at the reasons below describing why you should apply for a wedding loan:

• Many of you will surely agree on the fact that wedding is one of the most enthralling as well as nerve-racking days of your life as you have a lot of things to manage. Thus, so as to reduce your stress level, a wedding loan can do wonders for you by paying a hefty amount. More to the point, all you need to do is just start preparing a list of things that makes your dream wedding memorable, well you can start the same by preparing a budget, and deciding upon the loan amount you would require.

• Furthermore,there is no denying on the fact that people usually save for this big day, but at times the saved amount is not enough when it comes to wedding expenses. Well, the average amount of wedding celebrations usually ranges between 20 lakh-25 lakh which is still difficult to manage by many. But, with the help of personal loan for wedding, you can easily borrow upto 30 lakh-40 lakh, depending upon your credit score. Well, through this way, no matter whatever savings you have, can easily make up the shortfall for the expenses beyond the D-Day.

• More to the point, couples and their families generally do not give attention to the expenses after the wedding such as honeymoon cost, getting a new home/apartment together or so on. However, spending their saved money at the wedding celebrations usually leaves the couples strapped for the cash in just a start of their marriage. Thus, here buying a personal loan for wedding can help you in funding most of the aspects of your wedding, and becomes a helping hand in the near future. Well, you can go with a renowned lender, offering personal loan for wedding so as to have an unforgettable marriage.

• Not only this, in fact one of the biggest advantages associated with taking out a wedding loan is the fact that the payments are fixed that ultimately helps you in planning the budget accordingly. When it comes to repayment, you can repay the loan easily by choosing a tenure that suits you. You can choose the tenure ranging from 1 month to 6 years. This loan is convenient as you can avail it immediately to make your dream wedding memorable.

• Moreover, availing a wedding loan in India is definitely an ideal way of financing your cost of wedding. However, one thing that needs to be mentioned here is the fact that it is highly important to make a right choice when it comes to deciding a lending institute/bank. So, be careful while choosing a lender that helps you with the repayments according to your requirement and budget.