Can A Personal Loan Help With An Unexpected Wedding Expense

Weddings are a very big deal. They require considerable planning and money. There will be some unforeseen and unexpected expenditures, and they may weigh heavily on your finances. Cuisine, hall, photography, invitations, decorations, and all the small functions leading to a wedding may all incur heavy costs. Also, there may be last minute expenses such as errors in invitations, vendor cancellations, clothing concerns, more guests than intended, and other unexpected expenses. A personal loan for a wedding provides the much needed funds to cover such costs and ensure a stress-free wedding. 

How Much Does The Average Marriage Cost in India?

In India, marriage is the coming together of two families and not just two individuals. Also, it majorly depends upon personal choices and how people want to conduct the wedding. Marriage expenses in India are in the range of Rs. 5 Lakhs to Rs. 50 Lakhs, for a middle to an upper middle class family. 


What Is A Personal Loan For A Wedding? 


A wedding loan is an unsecured personal loan that enables you to handle your unexpected wedding costs easily. You can apply easily for these loans online and get approval in minutes. They are excellent sources of funds for last minute wedding expenses. 


Characteristics of A Personal Loan For Wedding 


Before you take a personal loan for a wedding, you should understand the features and benefits of the loan. 


  • No Collateral Required: You don’t have to provide collateral or present a guarantor as a security for the loan. This reduces the hassle of getting the loan considerably home

  • Online Application: Most personal loans can be applied for completely online. You can complete them from the comfort of your home using the lender’s website or app. Thus, you don’t have to go physically or wait for a long time to apply for the loan. 

  • There Are No End-Use Restrictions: A personal loan for a wedding has no end use restrictions. You can use your loan amount for any wedding related expenditure, such as food, venue, photography, wedding, decorations, gifts, and invitations.


What Are Some of The Unexpected Wedding Expenses?

These are some of the unforeseen expenses you may encounter when creating a wedding budget


  • Invitations: No budget is set down for invitations, and their expenditure is huge, especially in countries like India. They are large in number, and the culture often calls for big weddings. When you send them through the mail, postage charges will add to your already mounting expenses. 


  • Transport: Transport expenses are often overlooked. Sometimes, your wedding venue will be in a different city or far from your home. In that case, you will have to shell out for commuting to the venue. Also, if you want to have a grand wedding where your guests are treated well, then you may want to pick them up and drop them. 

  • Last-minute arrangements and guests: Have your guest list planned well ahead of time. It is ideal to have a few extra seats, hotel accommodations, and food in case those who are not expected turn up. 

  • Hotel Reservations: If you have guests coming from far off for your wedding, then, you may have to reserve hotel rooms for them. However, this could result in huge expenditures since hotel stays can be costly.  


Advantages of A Wedding Loan 


You Can Obtain Funds Easily: You may not have time to go to the lender’s office and apply for the loan in your busy schedule. Most personal loan lenders have their own website or app, whether banks or NBFCs. You can thus apply and get approval for the personal loan easily. 


Quick Approval

Lenders provide rapid loan approval and disbursal. This will ensure that you receive the funds you need on a set date and without delaying your wedding plans.  

No Assets To Put At Risk

Personal loans are not secured and you don’t have to pledge any assets. 

Flexible repayment periods

As repayment periods are flexible, you can choose EMIs that fit your budget. 

Helps you save

A personal loan for a wedding allows you to organize your wedding the way you want it without depleting your finances. You can borrow and later pay in EMIs. Unpredictable costs do not have to disturb your wedding preparations. Knowing that you can apply for a personal loan for marriage to assist you in paying for all of your marriage expenditures is relieving. A personal loan furnishes you with immediate cash, quick approval, flexible repayment period, and a simple online application. You can easily manage unpredictable expenses with a wedding loan. 

It Comes With a Lower Interest Rate

Personal loans for weddings come with lower interest rates compared to other types of credit such as credit cards. It can be especially beneficial if you have a good credit score and can qualify for a lower interest rate. 

Eligibility Criteria For A Wedding Loan

Before you avail of a marriage loan, check whether you know the eligibility criteria for a wedding loan.   

  • Age: Between 21 and 60 years. 
  • You can either be a salaried or self-employed individual
  • You must have at least 1 year. 
  • A credit score of 750 is ideal
  • Your monthly salary must be Rs. 50,000 at least

Documents Required For A Wedding Loan Application

You will need the following documents during a wedding loan

Identity Proof Documents  Either one of the following:

  • Passport 
  • Aadhaar card
  • Voter Id Card
  • PAN card
  • Driving license
Address proof documents  Rental agreement or utility bills 
Income Tax Returns  Last two years’ income tax returns for self-employed applicants.
Bank account statements  Bank account statement of the last 6 months’ bank for salaried individuals

Things to Have in Mind Before Applying For A Personal Loan 

  • Compare the interest rates of various lenders to choose the lowest one
  • Compute your monthly installments to choose the right loan amount and tenure. 
  • You must have a good credit history to be eligible for a marriage loan since a wedding loan is an unsecured loan. 
  • Also, check the loan eligibility and loan amount before you apply to prevent rejection. 


A wedding loan provides the necessary lump sum to meet all your marriage expenditures and make your wedding a thumping success. So, apply for a wedding loan and reap the benefits. 

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