personal loan
Summary: Planning and preparing financially for a wedding is not an easy task. This is especially true if the wedding is held elsewhere. Read on to learn more about how personal loans can help you achieve your dreams!
Everyone knows about home loans, education loans and car/bike loans. But did you know that you can also take out a loan to plan your perfect wedding?
Planning a wedding is not an easy task. This is especially true when planning a wedding elsewhere. Now it is important not only to organize the event, but also to raise the necessary funds to cover all costs. Read the following blog to learn more about the concept of destination weddings and the loans that can give you the financial support to make your dreams come true!
What is a destination wedding?
A destination wedding is when you want to get married in a popular holiday destination. For example, some famous wedding destinations in India include Jodhpur, Rishikesh, Kerala, Jaipur, Agra, Bikaner, Goa, etc. However, since such celebrations are held in popular tourist destinations, the overall cost can be quite high. Sometimes it can be difficult to fit the cost of these celebrations into your budget. It may be beneficial to apply for a personal loan for your wedding.
A fixed loan interest rate ensures that you don’t have to worry about things like EMI changes.
Why apply for a personal loan for your wedding?
Here are some reasons why you should consider applying for a personal loan for your wedding:
· It is easier to apply for a loan for wedding purposes.
You can apply for a personal loan online. The first thing you need to do is see if you qualify for a personal loan. You can then apply for a personal loan with just a few taps on your phone banking app. All you need is to provide details like name, date of birth, identity proof like Aadhar card, PAN card, address proof, Income Tax Return and pay slip. After submitting your application, a representative from the lender is responsible for evaluating your documents.
· Fast loan repayment provides sufficient time to prepare for the wedding
For a successful wedding, it is important to start party preparations in advance. Applying for a personal loan online gives you the opportunity to get a head start as your funds will be deposited within hours of your documents being verified and your loan being approved.
· This loan is offered at a competitive interest rate.
If your credit history is good, financial institutions are likely to offer competitive interest rates on wedding loans. For example, the wedding personal loan offered by the renowned IDFC FIRST Bank has affordable interest rates starting from 10.49%.
· No collateral is required for this loan.
Many loans require the borrower to provide collateral to the lender. However, for personal loans for weddings, you do not need to provide collateral. This is because the loan is not guaranteed. It is recommended that you maintain a good credit score before applying for this loan.
Many people apply for personal loans to cover wedding expenses. This makes it very easy to plan a big wedding without worrying about the budget. Since these loans are provided at a fixed interest rate, you can know the EMI in advance, which helps in effective loan repayment planning and loan settlement without any hassle. However, if you want to be sure, you can easily calculate your personal loan EMI using our EMI calculator tool.
A wedding loan can help your wedding run smoothly. If you are planning a large celebration, a loan can give you the financial resources you need to cover all wedding expenses.
disclaimer
The contents of this article/infographic/image/video are for informational purposes only. The content is general and for informational purposes only. It is not a substitute for specific advice regarding your particular circumstances. Information may be updated, finalized, reviewed, verified, corrected, and may be materially changed. This information is not intended for distribution or use by anyone in any jurisdiction where such distribution or use would be contrary to law or regulation or which would subject IDFC FIRST BANK or its affiliates to any licensing or registration requirements. IDFC FIRST BANK is not responsible for any direct or indirect loss or liability incurred by readers due to making financial decisions based on the content and information mentioned. Consult a financial advisor before making any financial decisions.
The features, benefits and offers mentioned in the article are valid as of the date this blog was published and are subject to change without notice. The contents of this document are subject to other product-specific terms and conditions and third party terms and conditions, as applicable. Please refer to our website www.idfcfirstbank.com for the latest information.
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