Planning a wedding this season? 7 ways a personal loan can help
New Delhi : Are you getting married this season? If yes, your family must have already started planning to make the big day lavish and memorable. However, is the increasing financial stress dampening the excitement? Do you not want your parents to put their life’s savings into the wedding? If all these troubles sound familiar, a wedding loan is a saviour you would need.
A wedding involves lots of planning and expenses. You do months of research and preparation to hire photographers and make-up artists, book the venue, plan the outfits, and arrange food. An unsecured personal loan for weddings makes sufficient funds available to cover these expenses. Besides that, you also keep money ready for last-minute additions, changes, and contingencies. Let’s look at the seven ways a personal loan can help plan your dream wedding.
7 Ways a Personal Loan Can Help in Dream Wedding:
Savings Kept Intact
Traditionally, parents used to save money for their entire life and exhaust it on their child’s wedding. They no longer need to do that. Rather than using up the savings, they can apply for a Fullerton India personal loan online and get instant cash of up to Rs. 25 lakhs to cover the wedding-related expenses. The online application attracts instant approval within minutes. The low-interest-rate loan option gives funds into the bank account within 24 hours. So, there is no need to exhaust savings, even for last-minute emergencies.
Ample Loan Amount at Your Disposal
Most people create a budget for their wedding-related expenses, like outfits, decorations, venue, catering, photography, etc. However, as the wedding date approaches, they start realizing a few vendors they did not include in the list. A person planning a wedding for the first time may come across several expenses they did not consider earlier. A wedding loan provides an ample loan amount at nominal interest rates in such a situation. For instance, Fullerton India offers personal loans of up to Rs. 25 lakhs within minutes.
However, the lender sanctions the loan amount according to the applicant’s eligibility, credit rating, income, DTI ratio, and other parameters. Use a personal loan calculator to find the loan amount you qualify for and apply according to your needs.
No Need to Liquidate Assets
Many people choose to liquidate their assets to fund a wedding. They mortgage or sell their property to cover the related expenses. However, they no longer need to do that with a personal loan for a wedding. Personal loans are collateral-free, which a borrower may avail of without providing collateral, guarantor, or security. Therefore, there is no need to put any asset at stake to get money for a wedding.
Freedom to Use the Loan Amount
A personal loan comes without any end-use restrictions. Once approved, it is your money that you are free to use the way you want. Use the personal loan amount without answering the lender, whether you want money to pay for the venue, caterer, decorations, outfits, gifts, shopping, or honeymoon.
Once the wedding celebrations are over, you are left with a loan to repay. However, there is no need to worry about repayment. Most lenders offer flexible repayment terms borrowers may select according to their repayment capacity. For instance, when you apply for a Fullerton India personal loan online, you get 12 to 60 months to repay the loan.
A personal loan EMI calculator is an excellent tool to calculate EMIs based on the selected loan tenure. Use this tool to finalize the loan term according to the monthly EMI you may afford to pay each month.
Easy Online Application
While everyone is busy planning for the upcoming wedding and enjoying the celebrations, no one would want to waste time visiting the lender and arranging the finances. These days, most NBFCs support 100% online application procedures that one may complete without leaving their home. From application and approval to disbursal, they do everything the digital way. There is no need to submit the required documents either. Applicants may upload scanned copies through the lender's website or app, and that's it. They receive instant approval as soon as they click the ‘submit’ button.
Financial emergencies may arise at the last minute, just a day before the wedding. At such times, people had no other option but to exhaust their savings or borrow from relatives. Today, one may avail of a personal loan for a wedding within minutes. Visit the lender's website or install their Fullerton Instaloan app on a smartphone. Register and fill in the required details. Upload the necessary documents and apply. The lender gives instant approval within minutes and disbursal within 24 hours of final approval. So, a personal loan gives instant access to the required funds even at the last minute.
These pointers make personal loans an ideal funding option to finance a wedding. Are you looking for a wedding loan at competitive interest rates? Apply for a Fullerton India personal loan online and get access to the needed funds almost instantly. Borrow according to your requirements and plan your dream wedding the way you want without any compromise.