3 ways to get an instant wedding loan to fund your big day

Weddings today have become a customised affair. The reception, invite, décor, design, and theme – all of this reflects whether it is a lavish or intimate affair. A wedding loan or marriage loan is a variant of a personal loan and a popular option to fund all such expenditures as it provides the required funds without any restriction on the usage of the disbursed proceeds. With a marriage loan, you can plan for a destination wedding, choose an ideal venue, make hospitality arrangements for guests, and much more. Discussed here are the easiest ways to avail a marriage loan instantly to fund your big day.

Wedding

With fintech, you easily can save plenty of time when it is about planning and placing an application for a personal loan for wedding purposes. You just need to conduct a market comparison among distinct offerings to pick the digital lender of your choice providing maximum convenience. For this, you can use an online personal loan calculator. Such calculators allow you to input your personal details and your loan requirements. Based on your added details, the calculator offers several loan deals as per your profile and suitability.

Once you select the lender of your choice, use an online personal loan EMI calculator to calculate the personal loan EMI and repayment tenure as per your repayment capacity. Note that getting the loan proceeds online may not just save a lot of your precious time to prepare for the marriage but also prevents you from unnecessary loan formalities wherein visiting the branch physically becomes important.

  • Check for pre-approved offers

If you want to spend maximum time for your wedding arrangement and minimal time on search for a suitable loan, you may check for a pre-approved offer. A pre-approved or instant personal loan is a loan offered by your existing bank based on your credit profile and your repayment capacity. You just need to agree to the terms and conditions and select the personal loan apply button on your existing lender’s site to avail the proceeds on the same day of placing the application. Note that for availing a pre-approved loan, you do not require providing any documents.

  • Go for an unsecured personal loan

While most lenders allow you to avail an unsecured personal loan, a few may ask for collateral if your credit history is poor, or your income is low. As the need for a personal loan may knock at your door anytime, ensure to always maintain a good credit score. You can maintain a good credit score by following healthy credit habits like timely repaying your credit card dues and loan EMIs in full, maintaining a credit utilisation ratio of within 30 per cent, maintaining a balanced mix of credit, avoiding multiple loan enquiries directly with lenders in a short time span and timely checking your credit report for any errors or mistakes. Following a disciplined credit behaviour allows you to maintain a strong credit score of 750 and above, which permits you to become an eligible candidate for an unsecured personal loan.

Opting for an unsecured personal loan reduces the need for submitting several documents for evaluation purposes, which automatically lowers the time for loan application approval. As there’s no need to provide any security before you hit on the personal loan apply online button, it not just allows you to enjoy a stress-free loan with zero worries of your security being acquired by the lender in the case of any default but also permits you to enjoy faster processing.

While the above three tips allow you to avail the marriage loan of your choice instantly, do not forget to plan out your repayment way before you hit on the personal loan apply button. Use an online personal loan EMI calculator to compute your repayment as per your preference and repayment potential.

Share

Troublemaker. Wannabe music fanatic. Beer aficionado. Devoted food junkie. Twitter fan. Freelance thinker.Won several awards for analyzing sheep in Cuba. Spent 2002-2009 promoting action figures in the UK. What gets me going now is getting to know pond scum in the UK. Won several awards for investing in toy soldiers on the black market. Spent several months getting my feet wet with spit-takes in Gainesville, FL. Spent 2002-2009 testing the market for tobacco in the aftermarket.