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Key Points to Keep in Mind While Availing a Marriage Loan

By Finserv MARKETS - Aug 8,2019
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Key Points to Keep in Mind While Availing a Marriage Loan

Introduction

  • Safe In Advance
  • Cut the Cost
  • Consult Your Family and Friends
  • Shop for Better Rates
  • Money Loans
  • Choose Your Lender Wisely

Indian weddings can be stressful and overwhelming. Plus, there is always a need for some additional money in the last moment. What if we tell you that you can take care of these last-minute expenses without having to burn your savings?

Well, the answer is quite simple – Marriage Loan.

While most people are reluctant in seeking a personal loan for wedding expenses, we believe that it is one of the best solutions. Taking out a loan for a wedding will help you keep track of the expenses and allow you to repay the amount over a period of time. However, there are a few important things about marriage loan that you need to know.

Things to Keep In Mind While Availing a Marriage Loan

1.Safe In Advance

If your financial conditions are not that great, it is highly advisable not to completely rely on the marriage loan for your wedding expenses. Instead, you can dig a small portion of your savings or investments. This will, in turn, reduce the load of EMIs.

2.Cut the Cost

Make sure that you are not spending a lot when planning your dream wedding. Thus, make a budget and try sticking to it. When it comes to weddings, certain things can get out of control. So keeping a budget will help you understand where exactly you are spending and how much.

3.Consult Your Family and Friends

If the amount that you want to borrow is small, then you might as well ask help from your family members or close friends. In case, they are okay with lending you the amount, you do not have to take a marriage loan. However, make sure that you repay the money on time as money matters are known to ruin relationships.

4. Shop for Better Rates

When doing wedding shopping, browsing a bit here and there might really help you save a few bucks. Look out for some best prices that you can avail for certain items. Know what brands and e-commerce sites keep having discounts every now and then. That way, you can make a purchase when it is at a considerably reasonable rate.

5. Money Loans

If you do not want to ask for money from your family members and close friends, then you can opt to take a personal loan for wedding expenses. There are many lenders in the market as well as online that offer quick loans with minimal documentation. You can avail loans starting from INR 10,000 up to INR 2 lakhs.

6. Choose Your Lender Wisely

Due to the highly competitive market, you will come across many attractive offers. However, make sure you choose a lender you completely trust and can take care of your money needs. Applying for a personal loan is very simple. Moreover, due to faster online processes, the loan application is approved within minutes.

The Bottom Line

Taking a marriage loan for wedding expenses makes sense if you do not want to financially cripple yourself later in the future. Moreover, you have to make consistent EMI payments so that it does not affect your credit score.

With Bajaj Finserv Marriage Loan with Finserv MARKETS, your loan application is approved almost instantly and the loan amount is credited in your account within 24 hours! You can also benefit from features such as low EMI, minimal documentation and bespoke loan solutions.

If you are looking for a wedding loan, apply for Bajaj Finserv Marriage Loan with Finserv Markets, today!

Finserv MARKETS, from the house of Bajaj Finserv is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment and exclusive EMI store, all under one roof- anytime, anywhere!

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522