Are the wedding bells ringing soon in your family? But the pressure of funds to carry out the expenditures for a perfect wedding troubling you? If yes, then you are at the right place as today in this post we are helping you in making good decisions to coat these expenses, let’s highlight one of them viz. Wedding Loan. Well, a wedding loan is nothing but a personal loan which is particularly offered for the purpose of fulfilling the wedding expenditures.
There are numerous financial institutions across the market and each of them states that they are extending the best product throughout the market and that is apparent, no business signifies, its offer is not the best one.
But, being a borrower, you must look upon multiple options. Today, among many, we have brought a certain lender’s product which will help you fulfil your wedding expenses seamlessly viz. IndusInd Bank personal loan.
We’ll discuss the product further but prior to that you must know that what is a personal loan and how does this help in your financial times. Let’s have a look:
What is a personal loan?
As the term denotes, a loan which is made to help those who are willing to fulfil their personal needs. In other terms, a Personal Loan is an unsecured loan which is availed by individuals to meet any personal requirement.
It is different from a car loan or home loan since it does not ask from you to promise any of your assets. The lender extends a personal loan after evaluating the borrower on certain factors such as income, credit history, stable income source and creditworthiness.
As a borrower is not required to put up any collateral against the personal loan, consequently, it is highly convenient to avail. Furthermore, no lender monitors its use.
How can IndusInd Bank personal loan help you in your wedding?
Besides big-ticket expenses such as shopping of outfit and payment to the caterers, unanticipated expenses is feature of big and fat Indian marriages.
Therefore, even if you have a sturdy financial plan in position, miscellaneous expenditures might end up with high prices. To understand, how IndusInd Bank Personal Loan can facilitate you to cover your wedding expenses, let’s go through the following 5 benefits of it:
- Instant funds
When it comes to wedding, the requirement for immediate money can barely be overstated. If you are not able to meet your wedding expenditures at the last moment, an IndusInd Bank personal loan can stand out for you. The bank takes minimal time to process the loan and disburses the money speedily into the borrower’s bank account.
- Competitive rates of interest
A few years back, personal loans were not so popular as financial institutions used to offer these with high-interest rates as they were unsecured in nature. They are still unsecured in nature but due to high competition in the market, now borrowers can avail it on low-interest rates.
Today, there is a multitude of moneylenders coming up with the appealing rate of interests for the customers. Among those, IndusInd Bank is one name that excels in the list.
- Flexibility
IndusInd Bank personal loan comes with high flexibility, which means you get all the liberty to customize as per your needs. You can choose a part of your expenditures or fund the full wedding spending with it. On the basis of your repayment capability, you can choose a certain tenure to fit the monthly instalment.
You can also take the help of the IndusInd Bank Personal Loan EMI Calculator in order to figure out the monthly instalment across a particular tenor as per your circumstances.
- Easy application process
IndusInd Bank personal loan application process is quite easy to perform since it is an unsecured loan which means you do not need to offer any collateral against the loan.
Furthermore, if the amount remains in the personal loan funds that you will avail from IndusInd Bank, you can use it for other purposes too such as to set up your home or to go on honeymoon.
- Make your parents stress-free
Be it your education or enjoyment expenses, your parents have always had your back. So, would it not be ideal to spare them from the stress of financing your wedding? A personal loan from IndusInd Bank will bring off a significant burden from their shoulders. Alongside, you will also be able to enjoy the liberty in planning your wedding.
The bottom line
To conclude, IndusInd Bank personal loan is an ideal funding choice and is easy to avail. With nominal paperwork, swift processing, and instant disbursal, you can avail a personal loan in a matter of minutes.
The bank renders personal loans for wedding from Rs. 50,000 to Rs. 15 lakhs for a tenure of up to 5 years. Although, your eligibility is dependent on multiple factors including your income, credit history, etc.
Before applying you can also use the IndusInd Bank personal loan calculator to get an estimate of your monthly EMI throughout a specific tenor as per your condition.
To apply for a wedding loan from IndusInd Bank, you can either visit the nearest IndusInd Bank branch or apply online. Additionally, you can also get in touch with the IndusInd Bank Personal Loan Customer Care team in case you wish to attain further knowledge about the product.
