✓Avail a Personal Loan for Wedding ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation! Apply Now

Marriage is a big milestone in life, and you may want to celebrate it lavishly. With rituals and functions spanning several days, the event is quite an expensive one. This is where a marriage loan steps in, allowing you to fund the day of your dreams without exhausting your savings. Also known as a wedding loan by certain lenders, this is a personal loan that helps you meet all marriage-related expenses without any stress.

Marriage Loan Details

Interest Rate

9.99% p.a. onwards

Processing Fee

Up to 6% of the loan amount

Loan Amount Range

Up to ₹50 Lakhs

Loan tenure

Up to 6 years

Compare Marriage Loan Interest Rates from Various Lenders

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Maximum Loan Tenure
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Maximum Loan Amount
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Minimum Interest Rate
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Bajaj Finance Limited

6 years

₹35 Lakhs

12% p.a.

4.7
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CASHe

1 year

₹4 Lakhs

27% p.a.

4.4
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Federal Bank

48 months

₹5 Lakhs

11% p.a.

4
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Fibe

3 years

₹5 Lakhs

14% p.a.

4
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Finnable

5 years

₹10 Lakhs

15.95% p.a.

4
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IIFL Finance

3.5 years

₹5 Lakhs

18% p.a.

4.1
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InCred

6 years

₹10 Lakhs

16% p.a.

4.3
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KreditBee

2 years

₹4 Lakhs

18% p.a.

4.1
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Kotak Mahindra Bank

5 years

₹25 Lakhs

10.99% p.a.

4.2
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L&T Finance

4 years

₹15 Lakhs

11% p.a.

4.6
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moneyview

5 years

₹5 Lakhs

16% p.a.

4.2
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mPokket

120 days

₹45,000

24% p.a.

4.1
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Muthoot Finance

5 years

₹15 Lakhs

14.50% p.a.

4
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PaySense Partners

5 years

₹5 Lakhs

15% p.a.

4.3
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Privo

5 years

₹5 Lakhs

9.99% p.a.

4.5
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Olyv

12 months

₹5 Lakhs

1.5% p.m.

4.1
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SMFG India Credit

5 years

₹25 Lakhs

12% p.a.

4.2
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Upwards

3 years

₹5 Lakhs

1.5% p.m.

4.3
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YES BANK

6 years

₹50 Lakhs

10.99% p.a.

4.2
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Zype

1 Year

₹5 Lakhs

18% p.a.

4
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**Disclaimer: The rates mentioned above are subject to constant change. You must always check with the lender before applying. Additionally, the final interest rate applicable to you will depend on various factors such as your repayment tenure, your age, your monthly income, and your CIBIL score.

Marriage Loan EMI Calculator

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Features & Benefits of a Marriage Loan

High Loan Amount

High Loan Amount

With a wedding loan, you can borrow up to ₹50 Lakhs to plan lavish ceremonies or even host a destination wedding. Do note that your final loan amount is approved based on certain parameters such as eliREAD MOREgibility, repayment capacity and credit score. READ LESS

Attractive Marriage Loan Interest Rates

Attractive Interest Rates

You can avail of a marriage loan at an interest rate starting at 9.99% per annum. As this marriage loan interest rate is one of the most competitive rates prevailing in the market, it causes less straiREAD MOREn on your pockets. READ LESS

Completely Online Process

Completely Online Process

You can apply for a marriage loan from the comfort of your home. All you need to do is use the Bajaj Markets app or visit the website and follow a few basic steps. The money will get credited to yourREAD MORE account within a few hours after the approval of your application. READ LESS

Zero Collateral Required

Zero Collateral Required

There is no need to pledge any of your assets as collateral to get a marriage loan. This is one of the most convenient features of a wedding loan.

 

Flexible Repayment Tenure

Flexible Repayment Tenure

With a convenient repayment schedule, you can repay your marriage loan over a period of 6 years. This helps you manage your budget with ease.

Minimal Foreclosure Charges

Minimal Foreclosure Charges

If you want to foreclose your wedding loan before the repayment tenure ends, it is possible. You may have to pay a very minimal charge towards loan

Marriage Loan Eligibility Criteria

To avail of wedding loans, ensure that you meet the following marriage loan eligibility parameters:

  • You need to be a minimum of 21 years of age when availing a marriage loan

  • You must not be above 60 years of age at the time of loan maturity

  • You need to have a CIBIL score of 750 or more

  • You should earn a minimum of ₹15,000 a month

  • You should either be self-employed or a salaried individual with a work experience of at least 1 year.

Documents Required For A Marriage Loan

Submit the following documents to avail of a personal loan for a wedding:

  • Identity Proof: Aadhaar Card/Voter’s ID/Passport/PAN Card/Driving Licence

  • Address Proof: Driving Licence/Passport/Aadhaar Card/Rental Agreement

  • Bank account statements or salary slips of last 6 months (for salaried applicants)

  • IT returns for the last 2 years (for self-employed applicants)

FAQs on Wedding Loan

Is marriage loan different from personal loan?

There are no major differences between a personal loan and a marriage loan. A marriage loan is a type of personal loan that is usually availed to tackle huge wedding costs. There are zero restrictions on how the personal loan money can be used and it can be used to take care of marriage-related expenses.

Who can take a wedding loan?

Any salaried or self-employed Indian national who is earning a minimum of ₹15,000 a month can avail of a wedding loan. It is also vital to have a CIBIL score of 750 or more (for assured approval and favourable loan terms) to avail a marriage loan.

Is it okay to take a personal loan for marriage?

Yes, you can also take a personal loan to cover wedding-related expenses. The benefit here is that you would be able to use the funds to meet non-wedding-related expenses as well. Whether you need to pay specialist vendors, decorations, or advances for catering, getting a personal loan for wedding expenses helps you tackle these expenses easily.

What is the best credit score to apply for a wedding loan?

A credit score of 750 or above is advisable to avail a marriage loan at affordable rates. With this credit score, you can avail a loan at nominal interest rates. However, some lenders may also approve the loan if you have a credit score of 700 or above. This depends solely at the discretion of the NBFC or bank.

Is it possible to foreclose or prepay a wedding loan?

Yes, it is entirely possible to repay or foreclose a wedding loan after you have paid a few instalments. However, be aware that you may have to pay foreclosure charges of up to 6% on your total loan outstanding. Note that this percentage varies from lender to lender.

Can I get a top-up on my marriage loan?

You can get a top-up option on your existing loan but this solely depends on your lender. If your lender provides a top-up facility for a marriage loan, you should be able to get one. It is ideal for you to check with the lender regarding the same before you avail a loan.

Can people with a low credit score avail marriage loans?

You can get a personal loan for marriage with a credit score of less than 750 too. However, this is dependent on your lender. Most lenders will offer marriage loans you a high interest rate if you have a with low credit score. So, it is advisable to check with your lender before you proceed with availing a loan.

What is the first thing to do before applying for a marriage loan?

The first and foremost thing to check is your credit score. If your score is less than 750, take necessary actions to improve it. A good credit score will assure the lender of your creditworthiness and you will be charged nominal interest rates.

Can I check online and compare the best interest rates on marriage loan?

Yes, it is ideal to do a thorough market analysis before zeroing in on a specific lender. You can do so with ease on Bajaj Markets. Assess the prevailing personal loan interest rates offered by some of the top financial lenders by checking the marriage loan interest rates table.

Can I take a marriage loan for a family member?

Yes, you can avail a loan as a co-applicant for your family member. The loan will be approved based on your credentials since you are the primary applicant.

What are the advantages of availing a personal loan for wedding expenses?

While there are many pros, one of the main benefits is that personal loans are available at a lower interest rate when compared to using credit cards.

Is it possible to avail a joint marriage loan?

Yes, it is possible for you and your partner to apply for a joint personal loan for marriage. This is helpful in situations where one party has a low credit score. Joint loans provide assurance to the lender that two individuals are responsible for repayment instead of a single applicant. Your partner plays the role of a co-borrower in such a scenario.

Which is ideal longer repayment tenure or a high EMI for a marriage loan?

These factors are linked to each other. If you want a longer period to complete your repayment, you will end up paying more interest. However, if you plan to finish off your loan as early as possible, you can opt for a shorter tenure but your EMIs will be higher. Take an informed decision based on your budget.

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