A wedding is the most cherished and memorable day of your life. You could have planned for this special day, months or even years in advance, so that your family members, friends and loved ones have an unforgettable experience. Planning for marriage also requires a careful assessment of the costs involved. With the multitude of expenses in a wedding, the total cost can range from several Lakhs to up to crores, or even more.
Can you rely entirely on your savings to meet the wide range of expenditures? Well, the answer is no. A viable alternative to meet the cost of your marriage is to apply for a personal loan for marriage. This loan can help you celebrate your wedding without any financial constraints.
But before applying for a marriage loan, you must know the average wedding cost and the segments which require significant expenditure. Here’s a look:
Foremost, you need to consider the venue for your wedding. You can choose to have your marriage in a reputed hotel, farmhouse, banquet hall, and so on. Depending upon the location and time in the calendar year, the rent of these places can range anywhere between Rs. 10 Lakhs and Rs. 40 Lakhs. You have to spend an additional amount on lighting and decorations as well. The cost of venue and decorations can easily account for up to 30% of your total cost.
The quality of food being served for guests is an aspect which you can’t ignore. Once your guests arrive at the venue, they will invariably expect a delectable platter for snacks and lunch/dinner. So you must ensure availing the services of a reputed caterer. Depending upon the menu, the caterer can fix a price per plate. They can also charge separately for snacks and beverages. Your expenses on food catering services can range anywhere between Rs. 1 Lakh to Rs. 10 Lakhs, or more.
You can contact professional wedding photographers to capture the key moments of your wedding ceremony. With technological advances, wedding photographers provide a wide range of services, such as pre-wedding shoots, candid photography, videography of the wedding ceremony, and more. Top photographers can quote a price ranging between Rs. 50,000 and Rs 1 Lakh, or more, per day.
During the wedding, you remain the cynosure of all eyes, and hence you need to be dressed the best for the occasion. Depending upon your attire and brand, the cost of your wedding outfit can range up to Rs. 1 Lakh. Then there is the cost of jewellery, which again is indispensable for a wedding in India. Contingent upon the type of ornaments you wish to purchase, you can expect to spend anything between Rs. 2 Lakhs and Rs. 5 Lakhs.
For your wedding, you also need to hire the services of several specialists. These include disk jockeys, musicians, priests, mehndi artists, and more. You can incur costs ranging anywhere from Rs 2 Lakhs to Rs. 5 Lakhs for availing their services. You can also choose to hire a wedding planner, who, in turn, can provide multiple services, like as part of their customized wedding package. Wedding planners typically provide packages starting from Rs. 2 Lakhs onwards.
Thus, the cost of your wedding is spread across various segments and depending upon your preferences, you can easily end up spending anything between Rs. 40 Lakhs to Rs. 1 Crore or more.
Wondering how to meet the costs without exhausting your savings or exiting from your investments? Well, You can now easily meet the plethora of expenditures by availing a personal loan for a wedding. This loan comes at reasonable interest rates, and you can opt for flexible repayment tenures. What’s more, a wedding loan comes with minimal documentation and simple eligibility conditions.
To get the best personal loan for marriage, you can trust the platform of Finserv MARKETS, which provides unbeatable offers from its lending partners, such as Bajaj Finance, Fullerton India, KreditBee, Axis Bank and more. You can choose a flexible repayment tenure between 12 months and 60 months and enjoy reasonable rates of interest, starting from 10.49% onwards. The wedding loan on Finserv MARKETS also comes with the feature of quick loan processing and disbursal.
At a time when the wedding costs are soaring, all you need is to make a simple online personal loan application and receive the loan amount to fund your wedding expenses. Make your wedding memorable, get the best personal loan for a wedding from Finserv MARKETS today!
Disclaimer-The blog provides an estimation of the costs involved, the actual costs can be different depending upon various factors.