In India, weddings are nothing less than a festival. The pomp and ceremonies make the event a once-in-a-lifetime fun-filled experience. However, planning and organising your dream wedding can be a tedious and expensive process. So, if you are looking for an easy way to borrow funds for the wedding of your dreams, a marriage loan can be the right option for you.
In this article, we will learn more about wedding loans, their benefits, and the easy steps to apply for a marriage loan online.
What is Marriage Loan?
A marriage loan is a type of personal loan for marriage-related expenses. You can use the amount from such wedding loans to pay for multiple expenses associated with marriage, like venue, decorations, catering, photography, outfits, jewellery, etc.
Marriage loans are usually unsecured in nature, so you do not need to pledge any security or collateral to avail a marriage loan. The loan amount, the marriage loan interest rates, and loan repayment terms may vary from lender to lender.
With CASHe’s easy marriage loan eligibility and instant loan disbursal, you can now easily plan your wedding without worrying about the expenses.
Benefits of a Marriage Loan
1. Easy application with digitised documentation
At CASHe, you can apply for a wedding loan through the CASHe app within minutes. All you need to do is complete the KYC process by uploading self-attested digitised copies of the necessary documents.
2. No collateral required
Since personal loans for weddings are unsecured, you do not need to pledge any security or asset to avail the loan. This makes the marriage loan application process much simpler as compared to secured loans.
3. Instant approval and quick disbursal
One of the key benefits of availing a personal loan for marriage expenses is that the loan usually gets approved instantly if you meet all the requirements, and the loan amount is disbursed to your bank account immediately.
4. Flexible EMIs
CASHe offers flexible EMI plans for marriage loan repayment, making it easier for you to pay back the borrowed loan amount as per your convenience.
Eligibility Criteria for Marriage Loans
You must meet the following marriage loan eligibility criteria to apply for a personal loan for wedding expenses on CASHe:
You must be an Indian citizen
Your age should be 18 years or above
You must be a salaried professional earning a monthly salary of ₹15,000 or more
You should have a Facebook or LinkedIn account
How to Apply for a Marriage Loan on CASHe?
You can follow these easy steps to avail a marriage loan on CASHe:
Download the CASHe app on your smartphone.
Create a CASHe account by completing the KYC process.
Click on the ‘Get Loan’ option.
Choose the ‘Marriage Loan’ option from the different types of personal loans.
Determine your marriage loan amount.
Choose the personal loan tenure as per your convenience. You can get marriage loans with loan amounts ranging from ₹15,000 to ₹4,00,000 and with a tenure of 90, 180, 270, 360, and 540 days.
Wait for your marriage loan application to be verified and approved by CASHe.
Once approved, your marriage loan amount will instantly be disbursed to your bank account.
What Are The Documents Required To Avail A Marriage Loan?
You must have the following documents to avail a marriage loan on CASHe:
Identity proof- Aadhaar card
Income proof- latest salary slip
Latest bank statements showing salary credit
Permanent address proof
Photo identity proof- PAN card
Also Read : Small Intimate Wedding With a Marriage Loan
Considerations When Using a Personal Loan for Wedding Expenses
- Evaluate Your Financial Situation: First, take a good look at your finances before getting a loan. Make sure you can afford both your regular expenses and the new loan payments.
- Understand Interest Rates: It is important to know how much interest you would be paying on your marriage loan. Different banks have different rates, and this can change how much you owe in total.
- Plan Your Budget: Make a clear budget for your wedding costs. Know how much money you need as it would help you borrow the right amount and avoid overspending.
- Check Repayment Terms: Consider the repayment terms of the loan. Make sure you know how much time you would need to pay it back and how much you need to pay each month.
- Consider Additional Fees: Banks and lenders may charge extra fees like processing fees or penalties for early repayment. Be sure to read all the details.
Conclusion
Planning your dream wedding is an experience of a lifetime. The availability of hassle-free and affordable marriage loans can help in reducing the financial burden on your savings, giving you the liberty to organise your wedding without exhausting your savings. So, go ahead and apply for a marriage loan now!
