Is It Okay To Take A Loan For Marriage

Nov 22, 2022

5 min. Read


Authored By: L&T Finance

Is It Okay To Take A Loan For MarriagePersonal Loans

Marriages may be made in heaven, but they have to be paid for on earth. Marriages in India are a costly affair. From the venue to the outfits, the jewellery, the caterer, the pre-wedding shoot, the honeymoon, setting up the apartment, etc. everything requires money and lots of it. And you don’t really want to borrow money from your parents or relatives, correct? Neither would you want to disappoint your partner or family by being stingy? After all, you only marry once. So, not only is it okay to take out a loan for marriage, but it's also a popular choice. Typically, a loan for marriage in India is also known as a personal or a personal loans used for marriage-related activities.

But which type of loan for marriage should you opt for - Gold loans or personal loans? Gold loans are highly popular in India, but they do have some downsides. For instance, gold loans require compulsorily pledging of your gold with the lender whereas personal loans have a strong benefit of no hypothecation/collateral unlike gold loans. Here are a few other reasons why taking a personal loans for marriage is the smarter choice:

1. No haircut: But in the case of a marriage loan, you do not have to arrange for any down payments. You can avail 100% loan for marriage.

2. No collateral required: When you take a personal loans for marriage, you do not have to pledge any assets.

3. Easy and convenient: A loan for marriage can be easily applied online and if your credit score and documentation are proper, then your loan will be processed without any hassle and instantly. Yes, you read that right you have to submit any minimal marriage loan documents and you can get the desired loan amount easily.

With these benefits, opting for personal loans to finance your marriage is the ideal choice. The next important question is which is the best marriage loan in India? The answer is  L&T Finance personal loans, where you can get a marriage loan of up to 7 Lakhs.

The marriage loan interest rate starts from 11% p.a.

Advantages and Benefits of applying for a Marriage Loan:

1. Completely digital process: Availing L&T Finance personal loans for marriage in Indiais super convenient owing to our 100% digital loan processing system. Simply fill the contact us form and submit the required details. Once verified, the loan amount will be transferred to your bank account within 30 minutes.

2. Loan for all – no discrimination: You can be working or owning a business, L&T Finance personal loans for marriage are available to both salaried and self-employed professionals.

3. Low interest rates: The marriage loan interest rates start as low as 11% p.a at L&T Finance. Additionally, as a reward for your discipline, the interest charged on our personal loans is based on your Credit Score. A high credit score can lead to huge savings in interest payable.

4. Easy Accessibility: You do not have to go anywhere to avail this loan, you can apply for a personal loans for marriage in the comfort of your home or office.

5. Benefit from the Brand: L&T Finance is a trusted brand and the financial services arm of the parent Larsen & Toubro company.

Low processing fees, prepayment facility, transparency etc. are other benefits of opting for an L&T Finance personal loans for marriage. Let us now look at the marriage loan eligibility criteria and documents required to avail our personal loans.

L&T Finance personal Loans Documentation

Marriage loan documents are very minimal which means less hassle for you and faster processing of the loan. Here are the documents required for availing our personal loans:

· Aadhaar number

· PAN number

· Current address proof – Aadhaar, Passport, Voter ID, Driving license, water / electricity bills, job card by NREGA etc.

· Bank details

Marriage is the coming together of families and loved ones. So, pull out all the unnecessary obstacles and dance your heart away (literally) to a Bollywood-themed sangeet and fun-filled mehndi night. With minimal documentation, fast-direct-to-bank disposal, transparency and no collaterals, L&T Finance personal loans is simply class apart. So, it's time to eliminate stress from your wedding prep with L&T Finance, right by your side. Enquire or apply for our personal loans in one click now.

This article is authored by L&T Finance.

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