When it comes to turning a wedding celebration into a huge event, Indians have never been the kind to shy away. So much so that the wedding industry is proudly one of the major contributors in boosting the Indian economy. Now, a wedding does not necessarily have to be a big extravagant ceremony. The true essence of the event is to celebrate the coming together of two individuals, and this could also be done with a close-knit group. Whatever the choice of celebration, the fact of the matter is that weddings could cost a lot, irrespective of the number of people at the event.
If you are tasked with financing a wedding, whether yours or a family member’s, getting the required funds will have to be the first aspect that needs to be focused on. One sound option to fall back on is to rely on a personal loan for all the wedding expenses. The loan can then be conveniently paid off in personal loan EMI payments.
If this is something you are not familiar with, take a look at the benefits of taking a wedding loan:
- Repay the loan with a flexible tenure
While applying for any loan, it is very important to make sure that you have a suitable repayment tenure. This is to ensure that there are no problems in clearing the monthly instalments in the future. Usually, lenders offer up to 5 years to clear the loan. Based on your budget and financial standing, you can decide whether it is better to repay the loan in 5 years or choose a shorter tenure.
- Get numerous expenses covered
With weddings, there are countless arrangements that need to be paid for. For instance, you will have to pay for the photography, venue, lighting, decoration, catering service, and so on. These could run up quite the bill, and a wedding loan can take care of all these expenses. Lenders usually offer loan amounts starting from Rs 50,000 right up to Rs 25 lakh!
- Apply for the loan without stepping out
The best part about being in a digital world is that most of our work can be done online. This is also true when it comes to getting a personal loan for your wedding expenses. All you need to do is visit a lender’s website and apply for the loan online. Even the documents required by the lender will have to be uploaded online, saving a lot of your time and energy.
After looking at these benefits, it comes as no surprise as to why so many choose to rely on wedding loans to cover their expenses. If you are applying for one too, it is advisable to first use a personal loan EMI calculator. This calculator will help in displaying the loan’s monthly instalments, based on which you can decide whether to go for the loan or look for a better option.
Comments are closed.