A wedding is a once-in-a-lifetime event that everyone wants to make memorable. From jewellery to dresses to décor and rituals, everything about Indian weddings is extravagant. As such, the wedding budget often gives people sleepless nights. But a personal loan can help you meet your wedding expenses with ease. Today, you can easily avail a wedding loan through a loan app.
An instant loan can come in handy in meeting your wedding goals. Whether you want to book a good venue or hire a professional photographer, buy a designer dress or host a bachelorette party, a wedding loan can serve it right. It is easy to apply, quick to avail, simple to manage and highly affordable.
Read on to understand how you can use a personal loan to cover your wedding expenses.
What Are Some Major Expenses in a Wedding?
When planning a wedding there are a few expenses that you cannot avoid. Here is a list of such expenses that you must consider beforehand.
- Venue and Decoration: Booking your wedding venue is one of the major expenses. With a personal loan, you can extend your budget and choose an exotic place to host your wedding. You can also opt for a theme wedding or book yourself a destination wedding with the help of an instant loan.
- Jewellery and Outfits: On your wedding day all eyes will be on you and there is no doubt that you would want to look your best. You can buy lavish gold or diamond jewellery, a stylish lehenga or sherwani, and a professional makeup artist using a personal loan.
- Hiring a Photographer: Pictures hold memories longer than a human being can. Your wedding photo will be a timeless reminder of the beautiful events of your wedding. You can book a pre-wedding shoot, hire a renowned photographer, and add a guest photo booth. All these extra expenses can be financed by a personal loan availed through a loan app.
- Catering: The food of your wedding is one of the most important aspects that you don’t want to negotiate with. But having an elaborate buffet can cost you lakhs. An instant loan can help you host a wedding party with unforgettable food.
- Accommodation: Arranging comfortable accommodation arrangements is another big expense can you must consider. You may also have to provide travel facilities, accommodation and food for multiple days. You can take care of this expense with an instant loan.
- Honeymoon or bachelorette: Planning an exotic honeymoon or a fun bachelorette trip also needs a sufficient reserve of cash. In case you are finding it hard to accommodate this cost in your budget, you can opt for an instant loan.
Why Personal Loan Is the Best Option for Wedding Expenses?
Here are the reasons why applying for a personal loan for your wedding expenses is a fantastic option.
- Get money for your wedding right away
With little documentation, you will get the cash instantly into your account. All you have to do is download the loan app and submit your loan application, along with the necessary documents and within a few hours the loan amount will be transferred into your bank account. This makes instant loans very handy in case of emergencies.
- Spend the money on any wedding-related costs
Personal loans come with unrestricted end-use. This means you can use the funds for clothing, makeup, invitations, hotel rooms, banquet facilities, catering costs, flight tickets, or honeymoon. You can use the loan amount as you deem fit and you don’t need to give a break-up of your expenses to the lender.
- Take advantage of low-interest rates
The bank will probably provide you with a wedding loan at a competitive interest rate if you have a strong credit history. You may pay off the loan faster and become debt-free sooner with a lower interest rate.
- Decide on the EMI and loan term for your marriage
A personal loan has flexible monthly payments (EMIs) and term choices that range from a few months to a few years. As a result, you may alter your repayment plan based on your monthly income, your financial requirements, and your cash flow. To help you better plan your repayment, use our loan EMI calculator.
- There is no need to liquidate your investments
Some people decide to cash out their savings or redeem their fixed deposit to pay for a wedding. However, redeeming your investments before maturity can entail additional fees. A personal loan can help you meet your wedding expenses without selling off your assets.
Conclusion
Personal loans are tailor-made to help you meet your financial obligations. They are easy, simple and highly affordable. You can download a loan app and apply for a personal loan in a few minutes. But before you apply for a personal loan, make sure to have a repayment plan.
