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Today, weddings reflect the personalities and choices of the bride and groom and have become more customised than ever before. The invite, reception, design, decor, and theme all cater to the couple, whether it is an intimate celebration or a lavish affair. A personal loan for marriage is a popular option to finance all these expenses as it offers ample funds and doesn’t limit how and for what you use the sanction. As per a recent survey, the demand for wedding loans was the highest compared to all other categories, even during the second wave of COVID-19. While it was about 22% in 2020, it rose to 33% in 2021, with most borrowers between 20 and 35.

With a wedding loan, you can execute a destination wedding, make hospitality arrangements for guests, choose the ideal venue, do it up in style, lay out a rich feast for the guests at every ceremony, and much more. If you plan to finance your dream wedding with a personal loan for marriage, you may be looking for convenience, speed, and affordability. Read on to know the easiest ways to get a wedding loan to finance your big day.

1. Go for an online loan

With fintech, you can save precious time when it comes to planning and applying for a personal loan for marriage. Do a market comparison of lenders and their wedding loan offerings, and then pick a lender with 100% digital protocols for maximum convenience. Availing of such a loan online will give you ample time to prepare for the wedding instead of getting bogged down with loan formalities. Due to the advanced processing facilities, you can get approval instantly on your online application and get two steps ahead in your wedding preparations.

2. Look for a pre-approved offer

To ensure you spend more time booking wedding venues, meeting with planners, and deciding on the theme and less on the loan-related process, it is best to check any pre-approved offers you receive. If you have a decent credit history and prior experience with credit, you can get pre-approved offers from top lenders. These personalised deals require no more than a few clicks to avail and reduce your paperwork if you already have a relationship with the lender.

3. Choose an unsecured loan

To get a wedding loan easily, it is best to choose a collateral-free offering. Consider that you have to pledge an asset such as property for financing the loan. In that case, you will have to submit ownership documents, await the evaluation of the security from the lender, and take on the concern that risking an asset brings. Avoiding all this can help you focus on your special day and enjoy faster processing with fewer documents.

4. Find a lender who offers simple eligibility terms and a high sanction

Another way to optimise the time spent on getting a wedding loan is to do your research and find a lender whose eligibility criteria you can meet easily. For instance, choose B if you need to boost your credit score to qualify for a loan with lender A and not with lender B. Improving your credit score takes time and effort, both of which are in short supply when you are busy planning a wedding.

Since a personal loan for marriage is an unsecured loan, lenders are strict about verifying your reliability as a borrower. If you don’t meet their parameters related to age, salary, employment, and CIBIL score, your loan application may be rejected. So, opting for a lender whose criteria are simple is the key to speedy approval. Another aspect you can keep in mind is to choose a lender that offers a high-value loan. This is critical to financing your dream wedding and can help you address all expenses with ease.

While these tips help you get a wedding loan easily, don’t forget to plan repayment right from the get-go. Use a personal loan EMI calculator so that you can repay comfortably, and your post-wedding lifestyle and budget aren’t strained. An option that checks all the boxes and makes repayment more convenient is the Bajaj Finserv Personal Loan for Marriage.

With it, you can enjoy a sanction of up to Rs. 25 lakh and choose a lengthy period of 60 months to repay. You can also select the Flexi loan facility to reduce your initial EMIs by up to 45%*. Thus, you can conveniently meet your commitments after marriage and repay with ease. Check your pre-approved offer today and apply online to finance your dream wedding.

*Conditions apply

Disclaimer: This content is distributed by Bajaj Finserv. No HT journalist is involved in creation of this content. 

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