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How To Arrange Funds For Daughter’s Marriage?

Published on Nov 29, 2022Updated on Jul 17, 2023

How To Arrange Funds For Daughter’s Marriage?

One of the most pride-filled moments of a parent’s life is to witness the daughter's marriage. This important milestone is best celebrated in a grand hall with lavish decorations and traditional rituals. Typically, an Indian wedding stretches over 3-5 days with various rituals to be performed. Both the bride’s and groom’s families get together and celebrate the wedding day.

Expenses can include purchasing gold jewellery, booking the venue and destination in advance, making catering reservations, hiring professional videographers, and arranging for gifts for all guests that arrive. To manage the expenses, it is recommended that parents take up a personal loan for the daughter’s marriage.

Personal Loan for Marriage

You can take up a marriage loan for up to INR 25 lakhs*. You can comfortably plan your daughter’s marriage without any financial constraints. There are several benefits of taking up a marriage loan:

  • You need not worry about collateral since this will be a personal loan. This means you need not pledge your valuable assets against the loan that you are borrowing. 
  • An online wedding loan can be disbursed within only 72 hours* after the loan approval. This prevents all delay in planning and execution of this crucial day, where timing is of utmost importance.
  • There are no restrictions upon how you need to use your personal loan for the daughter’s marriage. You can split it into fractions and spend different amounts on different purposes to fulfil your daughter’s dream of a big wedding.
  • Since this is a personal loan, the documentation requirements will be low, so will the eligibility criteria. The most important thing to remember is that you need a strong CIBIL score.
  • Choose a lending institution that offers low interest rates. This added to the flexibility of choosing your repayment tenure can give you the financial support you need.
  • Taking up a personal loan for the daughter’s marriage means that you need not touch your personal savings or break your fixed deposits for money. You must ensure that such finances are well-preserved to help you in the future with emergencies.
Must Read: 7 Financial Mistakes to Avoid While Planning your Dream Wedding

Personal Loan Calculator

NBFCs like SMFG India Credit offer an online personal loan EMI calculator for you to find out how much monthly obligation you carry, and gives you an estimate of how much will be your loan EMI. The formula on which the personal loan calculator works is as follows:

EMI = [P x R x (1+R) ^N]/[(1+R) ^N-1]

Where P is the principal amount, N is the loan tenure in months, and R is the monthly interest rates. The personal loan interest rates can range from 11.99%* up to 36%* per annum and can depend upon your CIBIL score, repayment capacity, employment, and income. For example, if you have taken a marriage loan of INR 9,50,000 at a rate of interest of 15% for a timeline of 36 months, then by the personal loan calculator, you can determine that your EMI will be at INR 32,932 and your total interest payable after 3 years will be INR 2,35,554.

Documents Required For Personal Loan:

The documents required for a personal loan are:

  • Proof of identity: You can submit your PAN card, Aadhaar card, passport, or driving licence.

For salaried individuals:

  • 3 months’ salary slips
  • Form 16 - ITR

For self-employed individuals:

  • P&L sheets and balance sheet
  • Business proof: GST number, business licence, etc.
  • IT assessment
  • Form 26AS - ITR


The best way you can manage your daughter’s wedding expenses is by taking up a marriage loan. Forget all worries and celebrate this memorable event by organising your dream wedding with external financial support. That’s why, in times like these, it is best to approach a lending institution that understands your financial needs well. SMFG India Credit’s marriage loan empowers you with the reality of fulfilling yours and your daughter’ dreams. It is simple to apply for this loan. Just visit our website, click on Apply Now, and upload your documents. You can avail of the funds shortly after loan approval and put them to immediate use!

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*Terms and Conditions apply. Loans are disbursed at the discretion of SMFG India Credit.