A marriage is a grand celebration of love, and comes with its share of expenditure. With a personal loan though, you are free to plan the happiest day of your life.
Marriage is a big deal in India. And with it comes the wedding event itself, and other ceremonies. You may be in a place financially to get married and start the next phase of your life, but let’s not forget the wedding expenses. This celebration of love is a grand affair, and comes with its share of expenditure. But you need not fear. With a personal loan to cover some of the expenses, you are free to plan the happiest day of your life.
Wedding Loans and Personal Loans
As you may already know, you are bound to find a plethora of options for personal loans out there in the world. Usually, financial institutions will charge an interest rate between 11%-31% on personal loans. The rate may vary depending on:
- The borrowers profile;
- Their credit score,
- Risk profile,
- Income tax returns, etc
These are all aspects that will play a part in determining the rate of interest on the personal loan.
While you can use personal loans for any purpose you wish, specialised wedding loans are available too, just to pay for your wedding expenses. Certain financial institutions even offer destination wedding loans. Typically though, these will incur a higher rate of interest on you. So you have to be sure if you want to avail such a loan that might have you repaying for some time after the wedding.
If you are planning on getting a loan for your wedding, it is vital that you know how much money you require to cover the extra costs. You do not want to find yourself needing more money after taking a loan for a lesser amount.
Do You Need a Loan For Your Wedding?
Weddings, especially in India, are a complicated affair that can easily daze most people. With a wide range of aspects playing a part in the wedding, it can be rather overwhelming, not just in practice, but in monetary terms as well. This is going to be a special day in your life and you want it to be perfect. At the same time, you don’t want to struggle to cover the expenses for a long time afterwards.
Before we dive into the details about wedding loan, you need to first figure out if you need a loan in the first place. Planning is essential here to determine exactly what your wedding will be like and how much it will cost you. Once you have the scope of the ceremony and festivities in mind, you can navigate much more freely and figure out if you need some extra cash to help you out.
While you may have decided on a budget for the wedding, it is not uncommon to see expenses go beyond the initial budget. In this case, you can always opt for a loan to help you pay for part of the wedding.
What To Do If You Urgently Need A Loan For Your Wedding?
The months leading up to the wedding can be pretty frenzied. With many tasks to do and take care of, it is natural to miss out a few things or forget to calculate some expenses. You might find yourself panicking if you are running short of money and the wedding is approaching at an alarming pace. How do you cover the extra cost when you are already out of funds? With a banking institution, you are bound to require some time for the application and approval of the loan, and even more time for the disbursal.
Thankfully, we are living in an age where banks are no longer the only option you have for a personal loan. With ecommerce going strong, we have seen many online personal loan companies willing to give out loans. Again, with so many options available, it can be rather confusing and we do not want you confused or struggling with such things when your wedding is so close by. So we will help you out with the many online loan companies out there. Among them, EarlySalary stands out firmly as an established and well-trusted source of loans.
EarlySalary is a godsend for anyone, short on time, looking for a personal loan. With a few quick and easy steps, you can check your loan eligibility on the EarlySalary app in seconds. It also does away with the tedious application and approval process of personal loans. Instead, EasySalary has made loan processing a very quick and easy procedure, with loan disbursal within minutes of approval as well.
This is just the beginning of the advantages that EarlySalary offers. The hassle-free process is just the cherry-on-top. You can check out all the advantages and details of availing a personal loan from Early Salary.
So, now you know exactly what to do if you are short of funds for your wedding. No need to delay your special day or make it any less special by cutting down on the celebrations. Especially when you have EarlySalary, available to assist and make your day as special as you deserve it to be.