Wish for A Destination Wedding But No Funds? Avail a Personal Loan - Loan Trivia


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Monday 9 April 2018

Wish for A Destination Wedding But No Funds? Avail a Personal Loan

In our endeavor to make our wedding ceremony the most memorable moment of our lives, a lot of us consider a destination wedding. Take for example Virat Kohli and Anushka Sharma’s ‘secret’ wedding in Borgo Finocchieto, a 13th century village in Tuscany, Italy. For a lot of people, having such a wedding can seem like an unfulfillable dream. But, this does not necessarily have to be so as there is the option of availing a Personal Loan for wedding.

These are flexible and handy loans that are provided by banks and Non-Banking Financial Companies (NBFCs). Going by the general grandeur of weddings in India and the fact that they happen over a stretch of 4 to 5 days, even a normal wedding can require a loan.
Of late, people are opting for the offbeat route of traveling to a picturesque location within the country or abroad to tie the knot in the presence of their closest friends and relatives. Even for such a small-scale private ceremony, the costs can run up to several figures.

Availing a Personal Loan for a wedding requires the applicant to choose a lender and apply for the loan after making sure that the eligibility conditions are met. There is no requirement of collateral or mortgage to avail such a loan and repayment involves paying EMIs for tenures that range between 1 year to 5 years. They can also be availed when certain unforeseen expenses come up during a wedding, instead of borrowing funds from a friend or family member.

The eligibility criteria are also very nominal and generally include a condition related to the age, income (based on the city of residence), and employment type. Certain NBFCs provide easy Personal Loans for weddings that can be applied online and are dispersed in a couple of days.

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