What are the benefits of taking a personal loan for a wedding?One of the major worries that people have with loans is waiting for the cash disbursement to happen. With personal loans for a wedding, this should not be an issue. One can get access to the loan amount within 24 hours from when the application gets approved.
Additionally, the loan amount comes without any restrictions, i.e. you are free to use it in whatever capacity you wish to. It could be to fund an expensive lehenga or pay for wedding catering. Even better, you can finance your wedding entirely with the loan amount as the upper limit is very high (25 lakhs), therefore making it an ideal option.
What should one do before applying?Before taking a personal loan for a wedding, you must sit and analyze your savings and make an estimated budget of the wedding to understand what your loan requirements will exactly look like. The next step will be to do thorough research on the market and get the best loan deals for yourself.
What documents are required for applying for this loan?The application process can either be done in person or online. The eligibility criteria and documents required for this are basic and should be easily acquirable for you. These include:
1. Employee proof, salary slips, and bank statements:The lender/bank needs to have trust in your ability to repay the loan; hence these forms ground to estimate your repayment capacity. This becomes one of the central factors in deciding your loan terms.
2. Indian citizenship proof:You will need to show one document that proves that you are an Indian resident. This could be anything including passport, driver’s license, PAN card, Voter ID card, etc.
3. Residence proof:Show them a copy of your electricity or phone bill to prove your residential details.
Finance your wedding with the help of personal loans to stay stress-free and make the most of your special day!
Click here to apply for a Personal Loan.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
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