Now, more than ever before, your wedding is a reflection of your and your partner’s personalities, relationship, and the kind of life you plan to live together. Everything from the invites and pre-wedding photoshoot to the destination and theme is crucial to your big fat Indian wedding. This is why it’s essential to consider options to finance your wedding so that you don’t have to skimp on anything that is important to you. One of the best wedding financing options is a personal loan or a wedding loan. When applying for a personal loan, however, it’s crucial that you avail it quickly so that you don’t have to delay any of your wedding preparations and planning. And here are a few things you can do to quickly avail a wedding loan to turn your dream wedding into reality:
- Check for pre-approved offers
Your bank would have extended pre-approved personal offers to you depending on your relationship with them, your credit history, and your income. Pre-approved offers expedite the entire wedding loan process because the lender has already assessed your financial profile and offered you a loan based on it. Also, since you already have an account with your bank, the paperwork would be minimal, and you can easily avail the wedding loan.
- Choose an online loan
The best lenders have a solid online infrastructure that makes the process of applying for a loan and disbursing the funds seamless. When you apply for a personal loan online, you save a significant amount of time and effort. The entire process is streamlined and you can get your wedding loan in a matter of a few clicks. This ensures that you use the time saved on other important wedding tasks that require your physical presence such as taste-testing different caterers, checking out the wedding venues, shopping, etc.
- Consider your eligibility
In case you do not have any pre-approved personal loan offers, you can be proactive and do your own research. You check the personal loan eligibility criteria of different lenders to see which one you meet. This will allow you to apply to only those lenders with whom you have a high chance of getting approved.
While it’s easy to get a wedding loan quickly to fund your dream wedding, you should ensure that you plan for it financially. You do not want to take a wedding loan beyond what you and your partner can pay off comfortably in a short period of time. That’s because after your wedding, there will be many other milestones to hit such as buying a house, starting a family, or other important goals depending on what you and your partner want. Hence, make sure to use a personal loan EMI calculator to see how you both can pay the Equated Monthly Instalments (EMIs) without straining your finances or backtracking on your other goals.