How Marriage Loan Is A Good Option For Your Big Day?

Over 10 million weddings take place in India every year. In essence, there are around 28,000 weddings taking place in the country on any given day on average. Furthermore, Indians are known to be extravagant spenders when it comes to wedding ceremonies, making it one of the biggest industries in the world, second only to the United States in terms of gross revenue. Over Rs. 1,00,000 Crore is spent on wedding ceremonies every year, much of which is funded by a marriage loan or similar avenues of financing.

A marriage loan against property is the most preferred mode of securing funds for the ceremony by most Indians. To understand why loan against property is the best approach, take a look at the benefits of this loan, which make it an ideal option for your big day.

   1. Fund all your wedding expenses with a high loan amount

As already established, Indian weddings are grand affairs, which often continue for days at a stretch. There are substantial expenses that need to be met. A Loan Against Property for Wedding from NBFCs like Bajaj Finserv can prove extremely beneficial in that pursuit.

Bajaj Finserv gives access to funds up to Rs. 3.5 Crore as a marriage loan against property if you are a self-employed individual. For salaried individuals, the corresponding amount is Rs. 1 Crore.

This high loan amount is adequate to help you meet any expenses you are likely to face before and during the wedding ceremony.

   2. Get your funds quickly, don’t let your dream wedding wait for the lack of it

The loan for wedding application process at Bajaj Finserv is fast and quite straightforward. You just meet a few elementary eligibility criteria and produce supporting documents for the same.

The eligibility criteria to avail a marriage loan against property are as follows:

• You have to be a resident citizen of India.
• Salaried individuals must be between 33 and 58 years of age, while self-employed people can avail this loan if they are between 25 and 70 years.
• You have to be either employed in one of the authorised private or public sector companies or have a sustainable business with over three years of pedigree.

Individuals who meet these simple eligibility criteria may produce the following documents to get their loan approved promptly:

• IT returns filed for the previous year.
• KYC documents.
• PAN or Aadhaar card.
• Mortgage property documents.
• Salary slips for employed individuals.
• Bank account statement for the last six months.

Once all the due process is over, and your loan is approved, the entire amount is disbursed to your account within a few days.

Another fast way of availing a marriage loan against property is to avail Bajaj Finserv’s pre-approved offers that make availing loans quick and easy. Pre-approved offers are available on several financial products such as secured credits like home loans and loan against property as well as unsecured credits like business loans and personal loans, etc. You can take a look at your pre-approved offer by providing your name and phone number.

    3. Withdraw what you need, when you need it

Another advantage of availing a loan for a wedding is the Flexi Loan facility. It allows one to withdraw multiple times from the pre-allotted funds. Interest is payable only on the amount that one utilises. In essence, you can withdraw the exact amount you need at different times. One can opt to pay only the interest accrued as EMIs. Repayment towards the principal amount can be done even at the end of the tenure.

     4. Spend it as you like

A marriage loan against property comes with no end-usage restrictions, implying that you may utilise the amount for any purpose you deem fit. You may use it to fund any of the following aspects of a wedding.

• Venue booking
• Catering charges
• Decoration
• Honeymoon expenses
• Photography and videography fees

These are some of the extraordinary benefits of availing a loan for a wedding. Before you finalise on it, do proper research and find out everything you need to know about taking a loan for your wedding. Read the fine print of the loan document and check the fees and charges applicable to it beforehand. Also, choose the best package for bridal makeup and finance your destination wedding cost with financial advance. A wedding is an once-in-a-lifetime ceremony. Do not let the lack of funds stifle your big day. Avail a marriage loan and gift yourself a celebration to remember!

from Everyone's Blog Posts - Fashion Industry Network https://ift.tt/2MAel4D