Everyone dreams of a fairytale wedding.
It is, after all, a joyous occasion and you have every right to feel good about the event. And these days, when destination weddings are a trend, the sky is the limit when it comes to wedding planning.
Don’t feel guilty if you have grand plans for your own wedding, too. it’s okay to dream big.
Time and again this has been said. While making plans do not cost a penny, the actual wedding and all its planning do.That does not mean that you or anyone should cut costs or not plan the wedding of their dreams.
Do you know who understands this? Lenders like Tata Capital who provide easy and quick wedding loan options.
A wedding loan is a kind of personal loan which you can use to fund your wedding. You can use it for buying outfits, pay the caterer or book a grand private beach venue. You can even use it to fund that dream honeymoon.
As simple as this sounds, execution and availing a wedding loan is that simple. If the word loan is making the hair on the back of your neck stand, fret not,
There are a few things you need to keep in mind if you are availing a wedding loan or a personal loan for your wedding expenses:
1. If you avail a wedding loan, you needn’t liquidate your fixed deposits, or redeem your investments to fund your wedding. You can just avail a personal loan for a wedding, and let your investments grow uninterrupted. Don’t even think of taking obligatory loans from near relatives or friends. There is always a social stigma attached to taking debt from acquaintances. A better way is to opt for a personal loan in form of a wedding loan at a cost-effective rate, and with that, you can do everything you dreamt of for your wedding.
2. You do not need to pledge any collateral to get a personal loan for a wedding. Just like regular personal loans, wedding loans are frill-free and doesn’t need huge documentation either. If you are reaching out to lenders such as Tata Capital, then your loan will get approved within a few hours. This means you can plan your wedding better without having to worry about funds to do all the fun stuff that you always wanted to do at your wedding.
3. You need not spend the funds for the wedding day only. Once you get a wedding loan, you are free to use it for any of the wedding related expenses. It could be for the couture outfit for your cocktail or for hiring a popular DJ for your Sangeet. Lenders will not spy on you to see what you are using the funds for. Lenders are no control-freak aunties.
4. You can select the EMI amount and the tenure of your wedding loans. Personal loans usually come with that flexibility wherein you can choose the tenure options – right from a few months to a good few years. You can choose your EMI based on your cash flow and financial liabilities. No one’s breathing down your neck.
5. If you have a good credit history or a CIBIL score, lenders such as Tata Capital will offer you the wedding loan at a competitive interest rate. With a better interest rate, your EMI burden will be lower and so will be your financial liability. This will not only help you manage your expenses well but also let you pay off the loan earlier and be debt-free.
This wedding loan checklist will help you to avail the money that you need to plan that start with a happy wedding. Once you have this cleared all you would need to do is plan the actual wedding, without the worry of where the money is going to come from.