4 Easy Ways To Get A Wedding Loan To Finance Your Big Day
Nowadays, weddings reflect the personalities and decisions of the bride and groom and have become more individual than ever. The invitation, reception, design, decoration and theme are addressed to the couple, whether it is an intimate celebration or a lavish affair. A marriage personal loan is a popular option to fund all of these expenses as it is plentiful and does not restrict how and what you use the penalty for. According to a recent survey, the demand for wedding loans compared to all other categories was also highest during the second wave of COVID-19. While it was around 22% in 2020, it rose to 33% in 2021, with most borrowers between the ages of 20 and 35.
With a wedding loan, you can hold a destination wedding, entertain the guests, choose the ideal venue, furnish it in style, prepare a sumptuous feast for the guests at each ceremony, and much more. When planning to finance your dream wedding with a personal loan for marriage, you may be looking for convenience, speed, and affordability. Read on to learn the easiest way to get a wedding loan to help finance your big day.
1. Get an online loan
With Fintech you will save valuable time in planning and applying for a personal loan for marriage. Do a market comparison of lenders and their wedding loan offers, then choose a lender with 100% digital logs for maximum convenience. Obtaining such a loan online will give you plenty of time to prepare for the wedding instead of getting bogged down with loan formalities. Thanks to the advanced processing functions, you can approve your online application immediately and be two steps ahead of your wedding preparations.
2. Look for a pre-approved offer
To ensure that you spend more time booking wedding venues, meeting with planners, and settling on the topic rather than the credit-related process, it is best to review all of the pre-approved offers that you receive. If you have a decent credit history and credit experience, you can get pre-approved quotes from top lenders. These personalized offers take no more than a few clicks to avail and reduce your paperwork if you already have a relationship with the lender.
3. Choose an unsecured loan
To get a wedding loan easily, it is best to choose a collateral free offer. Keep in mind that you will need to pledge an asset such as property to finance the loan. When this happens, you’ll need to provide ownership documents, await the lender’s assessment of the security, and accept the concerns posed by risking an asset. If you avoid all of these, you can focus on your special day and enjoy faster processing with fewer documents.
4th Find a lender who offers easy eligibility terms and a high penalty
Another way to optimize the time spent on getting a wedding loan is to do your research and find a lender whose eligibility criteria you can easily meet. For example, choose B if you need to upgrade your credit rating to qualify for a loan with Lender A, rather than Lender B. Improving your credit score takes time and effort, both of which are scarce when planning a wedding.
Since a personal loan for marriage is an unsecured loan, lenders scrutinize your reliability as a borrower. Failure to meet the parameters related to age, salary, employment, and CIBIL score could result in your loan application being rejected. So choosing a lender with simple criteria is key to getting approved quickly. Another aspect to consider is choosing a lender who offers a high quality loan. This is critical to funding your dream wedding and can help you cover all of your expenses with ease.
While these tips will help you get a wedding loan with ease, don’t forget to plan the repayment from the start. Use a personal loan EMI calculator so that it’s easy to repay and it doesn’t put a strain on your lifestyle and budget after the wedding. One option that will tick all the boxes and make repayment more convenient is the Bajaj Finserv personal loan for marriage.
With this you can enjoy a penalty of up to Rs. 25 lakh and choose a long period of 60 months for the repayment. You can also choose the Flexi Loan Facility to reduce your initial EMIs by up to 45% *. This allows you to comfortably meet your obligations after the marriage and repay them with ease. Review your pre-approved offer today and apply online for funding for your dream wedding.
* Conditions apply
Disclaimer: This content is distributed by Bajaj Finserv. No HT journalist is involved in the creation of this content.
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