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Avail A Personal Loan To Help Fund Your Child's Wedding

Published on Aug 9, 2019Updated on Jan 12, 2024

Avail A Personal Loan To Help Fund Your Child's Wedding

Your child’s wedding is probably one of the most important occasions in your life. It's a time when your family from all parts of the country and the world come together to make every ceremony a memory forever. However, as a parent, there is always some stress on how to manage your finances to host such a significant event.

To arrange for the needed funds for a wedding, you could always dip into your savings. However, that could cause a dent in your financial planning for the future. You could also consider a cash advance against your credit card. But, if you do not repay within the stipulated time, a hefty fee would be charged, which could include an interest rate as high as 40%. Given these challenges and repayment costs, one of the best avenues to fund your child’s special day is to get a personal loan. Though there are various types of loans that you could consider, a Personal Loan for Wedding would be a match made for you. Listed below are some features that make it a prudent choice to fund your child’s wedding:

Benefits of a Marriage Loan :

  • Availability: This is one of the biggest advantages of opting for a personal loan. Most banks and financial institutions offer such credit and are easily accessible. It becomes even more convenient to get a loan if you already have an existing credit account or have taken a loan previously. Since most of your records and documents are already in place, the application process becomes a breeze. Some loan providers also offer online applications wherein you get an instant approval without even visiting the branch.
  • Flexibility: Most of the times, credit amounts are granted based on the purpose it is being used for. For instance, an educational loan is based on the fees, whereas, a home loan depends on the property you would like to purchase. In case of a personal loan, there are no such prerequisites. You can apply for any amount of credit depending on your needs. You can also avail of a credit to partly or fully fund your expenses. Also, the loan tenure is flexible for personal loans.
  • Interest Rate: A common misconception about personal loans is that the interest rates are very high. This often discourages people from considering this option and doesn’t help ease their financial pressure. It is important to know that the interest charged on such loans are actually dependent on various factors. You can negotiate a reasonable rate if you know how to manage these factors in your case. Ensure that your credit score is within normal limits and that your current debts aren’t too high. This would give you an edge to negotiate your loan's interest rate.

How do I get a Marriage Loan?

Start with finding a reputed financial partner that has wide reach and relevant products. A good loan provider will always tailor your loan to suit your requirements and offer exclusive benefits and features. Your financial partner's experience and expertise can help you get a personal loan that is fully customised and offers tailored features and special benefits.

* Please note that this article is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us

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