How about taking a Personal Loan for your wedding?
India is the land where you can witness the glimpse of multiple beautiful marriages. Grandeur decoration, fascinating reception and expensive meal, all these things come to reality when you have enough money. Well, if you’re one of them those who want to make your marriage remarkable and perfect then do it and if you’re facing any financial obstacle then you can apply for a personal loan. A Personal Loan is a kind of unsecured loan, which you avail for your personal use. Bank doesn’t ask for any collateral from you. Your income and credit score, both play the essential role.
How Does It Help?
As we know Personal Loan is an unsecured loan. The bank doesn’t ask for any collateral. The fund you get can be utilized for any purpose such as to handle medical bills, education fees, wedding occasion or other personal expense. You can easily get this loan without pledging or mortgage any ornaments. If you’ve low credit score, still you can apply for a personal loan whereas if your credit score is good, you can get this loan at a low-interest rate.
While applying for a Personal Loan, keep these things in mind: If you’re planning to avail a personal loan for a wedding purpose then there are few things you should keep in your mind.
Interest Rate: When it comes to Personal Loan then it comes at the higher interest rate. The rates begin at around 10% to 14%. Before availing a loan, once carefully go through the eligibility criteria. Your income and credit score are the major players in grabbing personal loan.
The EMI: When you select your loan tenure including your loan sum then interest rate tells your monthly payments or EMIs. Well, you’re taking a loan for your wedding then this is recommendable before availing once check the eligibility and carefully select your EMIs. This is mandatory to maintain your credit score as well.
The loan amount: Wedding isn’t a small thing or decision and if we talk about its expenses then for sure, they will be huge. Planning is important before availing a loan. Why should you take a glimpse at eligibility criteria? Because that’s the only thing which will help you get a Personal Loan. A personal loan is your real superhero but if you apply for a huge amount that is beyond your repayment limit then it might become your villain.