Additionally, check the loan eligibility criteria and loan amount beforehand to prevent rejection.Since a wedding loan is an unsecured loan, you must maintain a good credit history to stand eligible for a marriage loan.Calculate your monthly instalments before applying to choose the right loan amount and tenure.This reduces the EMI and makes loan repayment easier. Compare the interest rates different financial institutes offer to choose the lowest one.Things to Keep in Mind before Applying for a Wedding Loanīelow are certain pointers to keep in mind prior to wedding loan application: Last 6 months’ bank account statement for salaried individuals.Īdditionally, there are certain things that you must keep in mind before applying for a wedding loan.Last 2 years’ Income Tax returns for self-employed applicants.Address proof documents such as rental agreement or utility bills.Identity proof documents such as Aadhaar card, Passport, Voter ID card, PAN card, or driving licence.You will require the following documents during a marriage loan application: Documents Required for Marriage Loan Application Hence, you can keep them scanned beforehand to eliminate chances of errors.
#Unexpected wedding expenses verification
Uploading the right documents is mandatory for verification of details that you have provided. Step 5: Upload the essential documents required. Step 4: Select the loan amount and tenure according to your convenience. Step 3: Enter some basic information required. Step 2: Move to the ‘Personal Loan’ section. Step 1: Navigate to the official website of a financial institute. You must follow the steps below to apply for a marriage loan: Once you have ticked all the boxes of eligibility criteria, you can proceed to apply for a wedding loan.
However, before applying for a marriage loan, you must check the eligibility criteria to avoid loan rejection. It is a paperless loan and you can apply for it anytime from the comfort of your house. The process of applying for a wedding loan is completely online and can be done in only a few steps. Additionally, you will have to pay only minimum charges for foreclosing the wedding loan.
You can easily foreclose a marriage loan once you have paid the minimum number of instalments that your lender specifies. You can talk with your lender beforehand regarding the conditions and charges associated with a balance top-up facility. If, after utilising the loan amount, you require more money, you can go for a balance top-up. However, if you want to repay the loan sooner, you can go for a shorter tenure. For example, if you want to pay a lesser EMI to avoid hampering your monthly budget, you can choose a longer tenure. You are at liberty to choose loan repayment tenure at your convenience. You can also choose a longer tenure to reduce the interest rate by a significant extent. Thus, you can save more on EMIs, reducing your monthly outgo. The interest rate for a marriage loan is extremely affordable and starts only at 10.49%. Also, you will not have to pledge your jewellery that you were planning to wear during different wedding functions. This saves you from arranging property papers for the loan application. Also, you can get instant loan approval to ensure a smooth wedding without any additional worry about arrangement of funds.įor a marriage loan, you will not have to collateralise your property or jewellery. This is beneficial as this money is sufficient to cover your immediate requirement of funds. You can opt for a loan amount of up to Rs. 7 Ways in Which Marriage Loan Helps to Meet Unexpected Wedding Costs Below are seven ways in which a wedding loan is advantageous:
There are several advantages of a marriage loan which are immensely beneficial. In such situations, you can opt for a marriage loan online, making it a completely paperless loan, to cover the sudden expenses. However, there are times when some unexpected costs crop up when preparing for it. A grand wedding is on the bucket list of almost every individual.
0 kommentar(er)
