A wedding is a magical
day that happens just once in a lifetime and therefore deserves all the
expenses. As such, a personal loan can be a great option to fund the wedding
expenses. This article will provide you with an insight into the benefits that
you can expect by taking a personal loan online to tackle your wedding expenses
during the coronavirus lockdown.
Online Personal Loan Apps can help you make
your wedding during Coronavirus Lockdown
In India, a wedding
usually needs substantial financing, and the cost further increases when it
comes to a destination wedding. Though there are several funding options in the
market, online personal loan seems
to be the first preference of most people. In fact, a recent survey claims that
in 2018-19, more than 20% of the loan applications were for weddings.
The
absence of any collateral is believed to be the biggest reason behind the
growing popularity of the personal loan. Besides, the ease and convenience
a personal loan app offers also make it easy to avail the
amount in a short duration. Here are some reasons to consider an online
personal loan application to finance your wedding.
●
No Compromise on Huge Expenses
As popular lenders
provide a personal loan for marriage these
days, it is easier to find a loan as per your requirement. Most lenders are
offering a maximum loan amount of up to Rs. 30 lakhs to finance weddings. This,
in turn, helps you to book your wedding venue, caterers, and other essentials
well in advance, without compromising on the quality. Besides, you can also
order the best-in-class jewellery, accommodation facilities for your guests,
and photographers.
●
EMI Option for Loan Repayment
These days, many
people opt for a personal loan due to its flexible repayment option. You can
choose the loan term according to your convenience and even opt for monthly
instalments for ease in repayment of the loan. You can also make the repayment
through online medium, without physically visiting the branch. Long repayment
tenure will help you to minimize the monthly EMI.
●
Instant Loan Approval
As mentioned earlier,
all the reputed lenders are now offering their own mobile loan applications.
Using these applications, you can check your eligibility for the loan, apply
for it, and even complete the documentation within a few minutes. The instant
loan approval feature is quite helpful for arranging money at the last minute.
Most lenders transfer the loan amount within 24-48 hours of approval. As a
result, you can make the necessary arrangements instantly, as per the
recommendation of the wedding planner, and deliver the best possible experience
for your guests.
Conclusion
It is a no-brainer
that people want their wedding to be memorable, and a personal loan can make
the task easier for you. The instant approval, low-interest rate, and flexible
repayment tenure are some of the significant advantages of opting for a
personal loan to finance your wedding. However, it's highly advised to choose a
reputed lender to have the best possible experience.
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