Picking a Personal Loan for your dream wedding

For us Indians, weddings are a gigantic affair. We love the feeling of two souls bonding in absolute grandeur and we love to celebrate that. There are over thousands of wedding guests, different ceremonies and rituals and a lot of money involved. So funds required for a dream wedding is obviously a huge sum and often the couple and their families are seeking for options to arrange the money. Luckily, there are several options that can ease the load for your ‘Big Fat Indian Wedding’.
A Dream Wedding is not cheap
Indian weddings are not at all cheap. There are numerous events involved also you need to purchase various materials especially for this day. You will need to pay for the mangalsutra, rings, entertainment, decoration, venue, clothes, honeymoon, catering service and photography. Combined, this will amount to a large sum of money and that’s why it’s vital to budget the entire wedding affair.
According to a research done on Indian weddings, the amount that is required for the wedding usually exceeds the initial budget and a lot of factors are often miscalculated, like the number of people, honeymoon costs etc. this means that the families are often strapped for cash at the end of a wedding. Luckily, there are lenders that offer Personal loans for weddings and let your dreams of ‘Big Indian wedding’ come true.
Availing a personal loan for your Wedding
Great news is that availing a personal loan for wedding in India is not difficult at all. It’s because the eligibility criteria is not at all strict. There are some lenders who loan up to Rs. 25 lakhs for the wedding. The criteria is simple –
• Any salaried individual earning a monthly sum of more than Rs. 18,000 for a minimum of 3 years
• The minimum age limit is 21 years and the maximum age limit is 60 years
Factors to remember
Important pointers to remember before availing the personal loan for your wedding –
• Calculate the EMIs that you will need to pay and whether or not you can afford it. Often there are loan calculators on the lenders website that helps you in estimating a monthly amount
• Second vital piece of information is the personal loan interest rates. All of the lenders and banks are going to have varied personal loan interest rate, so before jumping in, conduct a thorough market research. There are several sites that let you compare personal loan interest rates so that you can make an informative decision
Consider these factors and only then apply for a personal loan. If you have these factors figured out, then apply for a loan and enjoy your dream wedding!

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