Bank Loan

Online Wedding Loan TATA Capital

What is a Wedding Loan?

TATA Capital : A wedding loan is a loan under the personal loan umbrella. This loan is available to people looking to meet their wedding expenses in order to make the wedding in the family a grand success. Often, when planning for weddings the budget overshoots and the parents are sometimes forced to look to family and friends to tide them over. With our wedding loan, you need look no further as we extend to you the wedding loan with minimal formalities.

What are the current interest rates on wedding loans?

The interest rate currently applicable on wedding loans is between 11.49 and 19%. The rate is dependent on several factors such as the ability to pay back, credit score, and work experience, profession, age and past loan repayment history. To know more, you can go to wedding loan interest rates.

Why Tata Capital

We treat wedding loan as a personal loan. The formalities for obtaining a personal loan are applicable to a wedding loan as well. Our formalities are very simple because

  • TATA Capital don't ask for any security for the wedding loan
  • TATA Capital use digital platform to process the loan which involves very little paperwork
  • TATA Capital let you decide how you want to repay the wedding loan
  • TATA Capital offer you interest rates that are unmatched in the industry
  • TATA Capital offer loans up to Rs 15,00,000/-. Higher loan amount is possible depending on your credit score
  • TATA Capital seek bare minimum documents - documents that are normally available with you
  • TATA Capital give you instant online approval based on information furnished in your application

Are you eligible for a Wedding Loan?

You are eligible for a wedding loan if you

  • Are between 21-58 years having a salary income of Rs 20,000 and above
  • Are between 25-65 years having an annual business or professional income of Rs 2,00,000 and above.
    You can go through the detailed wedding loan eligibility criteria.

How much EMI do you have to pay?

  • The EMI that you pay depends on the principal loan amount, interest rate charged and the period for which the loan is taken. We provide a wedding loan with tenure up to 6 years. You can calculate an approximate of the EMI by choosing the parameters of your loan by clicking the Wedding Loan EMI calculator.

What are the documents you need?

  • Proof of identity and proof of residence
  • Income documents
  • ITR, trade license and ownership of business
  • Salary details
    You can check the detailed requirement of documents needed for a Wedding Loan.

Importance of Weddings in Indian Social Order

Weddings are an important milestone in Indian families. The occasion is celebrated in an elaborate manner spread over a number of days. There is bonhomie displayed all across family and friends. This is an occasion where families and friends get together to renew friendships and relationships and also bless the marrying couple. Unlike in the western societies weddings in India attract huge attendance. The parents have to put their best foot forward to make the guests feel at home.

Why take a Wedding Loan?

Parents make arrangement to bedeck the wedding hall, organize refreshments, breakfast, lunch and dinner. They provide accommodation to outstation guests. All these arrangements cost money and often parents end up overshooting the budget. It is here that the wedding loan is useful as it is an unsecured loan obtained quickly with minimal formalities.

Plan Your Dream Wedding with Personal Loans

So you just got engaged and started planning your wedding. There must be only one question running on your mind - how much should you pay to have a perfect wedding? Financing your dream wedding can take a toll on your savings with the average cost of weddings in India hovering around a whopping 25 lakhs. To add to that, there is a pressure of funding honeymoon and other expenses like buying a house, which can lead to stress for many couples. However, with some careful planning to get a wedding loan, you can be able to ease the pressure of funding your dream wedding by stopping the costs spiraling out of control.

Most couples have a fair idea of what they want to make their wedding day special. But many times, costs of little things come up as a surprise because this is the first time they are planning a wedding. Additionally, there are several things creeping up your wedding budget list that are likely to be unexpected but essential items. Hence, managing expenses for turning that dream wedding into reality is a must for you. That's where a personal loan for wedding comes into play.

Setting a budget is the most crucial part of planning your wedding, even if you are aiming to get a personal loan for it. You have to work out a budget for how much you want to spend on your wedding. And for that, you have to take note of every little thing required for the different ceremonies plus other financial goals like honeymoon, buying a house, moving to a bigger house or even saving for starting a family. You should also consider that whatever you have planned for your wedding can actually be unfordable in reality. That's why it is ideal to work out a realistic budget and stick to it.

Once you have set the budget, the biggest task is to get your finances together. This is crucially important before you start booking venues or buying jewellery. Think about how much money you require for your dream wedding, the amount you have saved up for it and how much you need to borrow. Once you have decided on the amount, you should consider whether or not you can afford the repayments or how long do you want to repay the personal loan for the wedding. And if you have doubts about repayment, you must reconsider the wedding budget.

It is easy to acquire a loan for wedding - you just need to have a good credit score. But the key here is to get the wedding loan in the most cost-effective way. Do your research, talk to different lenders about their wedding loan interest rates and get the best deal. And once you have landed a wedding loan with the best interest rates, you can decide freely on the scale of your dream wedding.

Reasons to Apply for a Wedding Loan

Weddings are fairly expensive, even if you try to have the modest low-key wedding ceremony, you are bound to spend a fortune. You have to pay for a venue and its decorations, finance the catering, photography and entertainment service as well as purchase clothes and jewellery. All of this amounts to a lot of money that can really burn a hole in your wallet.

Wedding day is one of the most enthralling and nerve-racking days of your life. A wedding loan can help you reduce the stress of paying a hefty amount. All you have to do is make a list of everything that makes your dream wedding, prepare a budget for that and decide on the loan amount you would require.

A great advantage of taking out a wedding loan is that the payments are fixed, which helps you in planning budget accordingly. You can choose a loan with a term of anywhere between three to five years. And if you repay the wedding loan within a shorter period, you will pay less interest. A wedding loan is really convenient to get immediate money for your dream wedding without having to delay the big day.

Getting a wedding loan in India is a great way of financing your wedding costs. However, it is important to make the right choice when deciding on a lending institution. Find a lender that helps you get things sorted with repayments as per your requirements and budget.

Things to Know Before you Apply for a Wedding Loan

To have a perfect wedding, couples nowadays are resorting to wedding loans that cover most of the expenses of their wedding celebrations. A wedding loan is basically a personal loan offered by various lending institutions at good interest rates. And as the special day draws closer, people compensate for the big occasion by getting a personal loan for wedding. If you are also considering applying for a loan, here are some things you should consider.

Acquiring a loan for your wedding may actually prove helpful in figuring out the financial status of your spouse. You can have a good look into their spending habits and see whether or not you are compatible in terms of finances.

The lender will ask you to provide some documents before formalizing the wedding loan application. These may include bank statements, proof of income, lawsuit settlements, tax returns and list of credit accounts. Every lender does not ask for all the documents, but a few. So, you must check with the lender beforehand.

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