Weddings are an extremely special occasion in India. Everyone wants to make their marriage memorable forever. These days, people are opting for lavish wedding celebrations with breathtaking decorations, exotic destinations, expensive gifts, and much more.
These things can quickly go beyond the expected budget. In that case, popular personal loan apps can solve the problem.
An individual can avail of a wedding loan to deal with sudden unlisted expenses. Leading lenders provide a marriage loan as high as Rs.25 lakh. The loan amount can be used in various ways to cater to various expenses, like catering, dresses, post-wedding holidays, jewelry, and photography. Here is a complete guide to personal loans for marriage.
How to Get a Wedding Loan on a Personal Loan App
A Personal Loan App like the Fullerton India Insta Loan App is a user-friendly mobile application offered by leading lenders in the country. These apps facilitate online loans for customers who need an instant, hassle-free personal loan.
Follow these steps to get an instant personal loan for a wedding.
1. An individual seeking a personal loan for a wedding can first install a personal loan application on his mobile phone. These advanced apps are available on Google Play Store and the App Store.
2. Next, the loan seeker has to sign-up with their mobile number, which they will use for all future communications with the lender. The lender will also use the same mobile number for the borrower’s OTP (One Time Password) verification.
3. To apply for a personal wedding loan, one must fill out the basic info – Name, Address, DOB, Gender, and Marital status, as the loan application form asks.
4. To verify the loan eligibility of the customer, the app would ask the loan applicant to fill in the employment & income details–including details like name of the current company, experience, and salary.
5. One must fill in the bank account information accurately in the form.
6. Instant personal loan apps make it easy to submit the documents required for loan processing by giving the option of scanning & uploading the documents.
7. Once all this is done, the personal loan seeker can click on the submit option.
After submitting the instant wedding loan application on the app,
1. The loan applicant is immediately informed of his eligibility & the personal loan amount he can avail of.
2. If he wants to go ahead with the wedding loan application, he gets a loan application number to track the personal loan application status.
3. The lender processes the wedding loan application after receiving all the necessary documents.
4. If the customer’s loan application passes the verification process, the lender sanctions the loan.
5. One can sign and forward the loan agreement to the lender after carefully reading it. The lender will transfer the loan amount directly to the customer’s bank account as soon as possible.
Benefits of Taking a Personal Loan for a Wedding
A wedding loan takes the financial burden off the shoulders of the loan seeker. They can relax and immerse in the wedding preparations without worrying about last-minute financial crunch. A personal loan app can provide you with instant fund arrangements. It benefits the customer in the following ways:
● Weddings come with unexpected miscellaneous expenses. A wedding loan makes it possible to spend the loan amount as desired. One may use the entire loan amount on the marriage or save some amount and gift it to the newlywed couple. People often plan their post-wedding vacation using a personal loan.
● Instant personal loans for marriages are collateral-free. One does not need to offer his house, jewelry, land, or any other invaluable asset to apply for a personal loan.
● The interest rates trusted lenders charge on a wedding loan start from as low as 11.99%. It ensures that the wedding remains a pleasant memory for the customer and does not burden him with intensive monthly repayments.
People having a wedding in the family anytime soon can apply for a wedding loan on an instant personal loan app for low-interest, collateral-free, and quick loans.
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