Marriages are made in heaven. But the big fat Indian weddings are made with a lot of money as well. The grandeur which is being associated with weddings is the trend with people ensuring each aspect of their big day is perfect in every sense.
People in our country save for years for weddings in the family. It is one equally important expense as one’s education. Arranging the wedding with all the glitz and glamour is taken up to one’s prestige and honour. But what if you end up with a shortage of money in hand at the very last moment? Knocking the doors of friends and family for financial aid at this hour can be embarrassing. To help and ease the financial burden, an instant personal loan is offered by key lenders across the country. Here is everything you need to know on how to get a personal loan to cover wedding cost.
ONLINE PERSONAL LOANS
Personal loans are the most sought after loans as it gives the borrower the flexibility to use the money as per his will and needs. One can apply for a personal loan online and get the loan approved almost instantly. The eligibility criteria for availing a personal loan is not stringent and there is minimal documentation requirement. It is offered to both salaried and self-employed individuals. The borrower needs to share his KYC and financial credentials with the lender in the personal loan application form. The financial details are asked to check for the repayment capacity of the borrower. A good credit score is an added advantage but a few lenders also offer the personal loans to applicants with poor or fair credit score too.
Applying for a personal loan online with top platforms like LoansJagat makes the whole loan process simpler and quicker. During the rush of weddings, you are not required to physically visit the lender for applying for a loan and submitting the loan documents. The digital platforms of various banks and lenders can also be accessed to apply for the loan. However, a key advantage that fintech enabler like LoansJagat offers is the flexibility to compare different lenders for their offerings on account of rate of interest, loan amount, loan tenure, EMI etc. and choose the one which best meets their needs and requirements. Wedding loan is easy to procure via LoansJagat as you can compare different lenders under one roof instead of going to digital platforms or physical units which would incur more time. After you have zeroed on the lender, you can apply for the personal loan by filling in the application form and uploading the scanned copy of documents required. Once done, they will process your loan application and if all things go well, your loan will be approved within a day and the loan money be disbursed in your account.
Once you have received the money, you can use it as per your will for meeting various expenses of a wedding. Personal loans are saviours during such need of the hour when you are in requirement of immediate funding. It is important to note that personal loans do not require any collateral to be kept as security and are offered for a loan tenure of up to 5 years. This makes them very attractive. However, in comparison to other secured loans like a car loan, home loan etc, personal loans incur a higher rate of interest. With a good credit score, one can negotiate for a better deal with the lender.
Weddings are a once in a lifetime event and to ensure money doesn’t become the hurdle and everything goes smooth, one ought to get self a personal loan. While opting for one though, one must be careful in doing the proper research so as to get the best deal, check the eligibility criteria and keeps the documents required handy.
The loan amount is given according to one’s income and financial capabilities, thus it is better to check for the loan amount which you are eligible for. Once you have received the loan amount in your account, you can also use it for meeting the post-wedding expenses as well. Wedding loans are offered by leading lenders and banks these days and they are a great way to overcome the shortage of funds in the last hour. So, without any hesitation, get yourself a personal loan if need be and dance your hearts out through the wedding.