Delhi, Mumbai to Bangalore: These Indian metros record highest demand in loans for the big fat Indian wedding
The demand for wedding loans has increased as weddings in India are expensive and unaffordable for many people
Weddings are a lavish affair in India- be it a local or a destination wedding, The list of expenses is unending. Well, some are able to conveniently pay for the extravaganza on their own, while others have to opt for a wedding loan to make their D-Day special and memorable. Experts believe that the wedding industry is so expensive that normal people can't afford it. Hence, the demand for wedding loans has increased.
There has been a substantial increase in the demand for wedding loans since October. “ At CASHe, we've observed a substantial 20% increase in the demand for wedding-related loans since October compared to the previous year. This uptick is influenced by the evolving behavior of young borrowers towards digital transactions and heightened awareness of the accessibility of easy credit. Notably, Bangalore, Hyderabad, Delhi, Pune, and Mumbai have recorded the highest demand for such loans," said Yashoraj Tyagi.
Given the importance of the event, financial planners advise creating a corpus in advance for wedding expenses as well.
Disclaimer: The views and recommendations made above are those of individual analysts, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!