73rd Day Of Lockdown

Maharashtra77793336812710 Tamil Nadu2725614901223 Delhi250049898659 Gujarat18609126671155 Rajasthan98627104213 Uttar Pradesh92375439245 Madhya Pradesh87622772377 West Bengal68762768355 Bihar4452212028 Karnataka4320161057 Andhra Pradesh4112252971 Haryana3281112324 Telangana31471587105 Jammu and Kashmir3142104835 Odisha247814819 Punjab2415204347 Assam19894434 Kerala158969015 Uttarakhand115328610 Jharkhand7642975 Chhatisgarh6781892 Tripura6221730 Himachal Pradesh3691636 Chandigarh3022225 Goa126570 Manipur124110 Puducherry90330 Nagaland8000 Arunachal Pradesh3710 Meghalaya33131 Mizoram1710 Sikkim200
Business Other News 21 Dec 2019 Top reasons to get a ...

Top reasons to get a personal loan to fund your wedding

DECCAN CHRONICLE
Published Dec 21, 2019, 2:20 pm IST
Updated Dec 21, 2019, 2:20 pm IST
Planning a wedding is not an easy task and more so, managing the various expenses is an even bigger responsibility and challenge.
Opting for a personal loan can be a viable option, as a personal loan will make your dream wedding possible without liquidating your investments and savings.
 Opting for a personal loan can be a viable option, as a personal loan will make your dream wedding possible without liquidating your investments and savings.

Planning a wedding is not an easy task and more so, managing the various expenses is an even bigger responsibility and challenge. While your dream wedding might be a fancy affair, you certainly can’t exhaust all your savings as this will leave you exposed to future risks and uncertainties. This leads us to the question of how to then fund your dream wedding? Opting for a personal loan can be a viable option, as a personal loan will make your dream wedding possible without liquidating your investments and savings. Here are some reasons why you should opt for a personal loan to fund your wedding:   

Tension free parents

 

Your parents have spent literally half of their lives taking care of you. Right from the day you were born and till now, they worry about your wellbeing more than anything in this world. A wedding should not be an additional burden on their heads. Since it is your wedding, it is only justified that you bear the incurred expenses of your wedding. Bonus: If you take a personal loan for a wedding, you get to plan it yourself. And in doing so, you can also make it as small or large an affair as you want!

Planned expenses

Weddings are supposed to be a happy occasion. But many a times, wedding expenses make it very difficult for the people involved to really enjoy this occasion that they had been looking forward to their entire lives. If you take a personal loan and stick to the budget, you will know exactly how much you will be spending on the wedding. You will know exactly how long you will be bearing the costs and you will not be surprised by the money you spend at the end of the day.

Affordable and accessible

In retrospect Personal loans have become more affordable over time. Until a few years ago, the interest rates on personal loans were comparatively higher largely due to lack of any alternate method of assessing a borrower’s creditworthiness. Digital lenders like IndiaLends have started using innovative lending models that leverage alternate data points making the process of credit risk assessment and underwriting easier and thereby made personal loans accessible and affordable.

Flexible

You can go for a small ticket size personal loan for the wedding if you feel you only need little help to finance the entire wedding. You can repay it in 6 months or 5 years as per your requirement and desire. The liberty to choose lies entirely in your hands. Online portals like IndiaLends let you design your repayment plan and compare the best possible offers that lenders in the industry have to offer.

No assets or investments need to be liquidated

Since weddings are a huge expense, at times people are compelled to liquidate their assets. People often resort to redeeming their Fixed Deposits or Recurring Deposits before maturity or using their long-term savings to pay for the wedding expenditures. However, it is important to keep in mind that redeeming any deposits before maturity may result in incurring additional charges and penalties. On the other hand, taking a Personal Loan to fund your wedding will not just save you from liquefying your assets or using up your savings but will also help you save the interest on your deposits that you otherwise would have lost.

A wedding is one of the most important events in any person’s life and hence it is important to align your interest and budget, in the beginning itself, to make sure you have a financially stable life ahead.

By Gaurav Chopra, Founder & CEO, IndiaLends

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT