Planning a wedding this season? 7 ways a personal loan can help you
New Delhi : Are you getting married this season? If so, your family must have already started planning to make the big day lavish and memorable. However, is increasing financial stress dampening the excitement? Don’t want your parents putting their life savings into the marriage? If all these problems sound familiar to you, a wedding loan is a savior you need.
A wedding involves a lot of planning and expense. You do months of research and preparation to hire photographers and makeup artists, book the venue, plan outfits, and organize food. An unsecured personal loan for weddings provides sufficient funds to cover these expenses. On top of that, you also keep cash ready for last-minute additions, changes, and contingencies. Let’s take a look at seven ways a personal loan can help you plan the wedding of your dreams.
7 ways a personal loan can help in a dream marriage:
Savings kept intact
Traditionally, parents used to save money all their life and exhaust it when their child gets married. They don’t need to do that anymore. Rather than using the savings, they can apply for a Fullerton India personal loan online and instantly get cash up to Rs. 25 lakhs to cover wedding-related expenses. The online application attracts instant approval within minutes. The low interest loan option disburses funds to the bank account within 24 hours. Thus, there is no need to deplete the savings even for last minute emergencies.
Sufficient loan amount available to you
Most people create a budget for their wedding-related expenses, such as outfits, decorations, venue, catering, photography, etc. However, as the wedding date approaches, they begin to realize a few vendors that they did not include in the list. A person planning a wedding for the first time may encounter several expenses that they had not considered before. A wedding loan provides sufficient loan amount at nominal interest rates in such a situation. For example, Fullerton India offers personal loans of up to Rs. 25 lakhs within minutes.
However, the lender sanctions the loan amount based on the applicant’s eligibility, credit score, income, DTI ratio and other parameters. Use a personal loan calculator to find the loan amount you qualify for and apply based on your needs.
No need to liquidate assets
Many people choose to liquidate their assets to fund a wedding. They mortgage or sell their property to cover related expenses. However, they no longer need to do this with a personal loan for a wedding. Personal loans are unsecured, which a borrower can avail without providing collateral, guarantor or collateral. Therefore, it is not necessary to put an asset in play to get money for a wedding.
Freedom to use loan amount
A personal loan is provided without any end use restrictions. Once approved, it’s your money that you are free to use as you wish. Use the personal loan amount without meeting the lender, whether you want the money to pay for the venue, catering, decorations, outfits, gifts, groceries or honeymoon.
Once the wedding celebrations are over, you still have a loan to repay. However, there is no need to worry about the refund. Most lenders offer flexible repayment terms that borrowers can choose based on their repayment capacity. For example, when you apply for a Fullerton India personal loan online, you have 12 to 60 months to repay the loan.
A personal loan EMI calculator is a great tool for calculating EMIs based on the selected loan term. Use this tool to finalize the loan term based on the monthly EMI you can afford to pay each month.
Easy online application
While everyone is busy planning the upcoming wedding and enjoying the celebrations, no one would like to waste time visiting the lender and arranging the finances. These days, most NBFCs support 100% online application procedures that one can complete without leaving home. From request and approval to disbursement, they do everything digitally. There is also no need to provide the required documents. Applicants can upload scanned copies through the lender’s website or app, and that’s it. They receive instant approval as soon as they click the “Submit” button.
Financial emergencies can happen at the last minute, just a day before the wedding. At such times, people had no choice but to deplete their savings or borrow from relatives. Today, one can benefit from a personal loan for a wedding in a few minutes. Visit the lender’s website or install their Fullerton Instaloan app on a smartphone. Register and fill in the required information. Upload the necessary documents and apply. The lender gives instant approval within minutes and disbursement within 24 hours of final approval. Thus, a personal loan gives instant access to needed funds even at the last minute.
These tips make personal loans an ideal financing option for financing a wedding. Are you looking for a wedding loan at competitive rates? Apply for Fullerton India personal loan online and access needed funds almost instantly. Borrow according to your requirements and organize your dream wedding as you wish without any compromise.