All About Wedding Loan You Need to Know
Wondering, if it is possible to avail wedding load for your upcoming wedding or someone’s in the family? Well, the article is an in depth guide about the same. Keep reading to know!
Wedding loans are one of the most effective ways to cover for all the shaadi rituals and celebrations cost in an easy manner. Also, it is smarter to get a loan than to exhaust the lifetime of savings over a single event. However, there are a few questions that will always hover around your head regarding the marriage loan. For instance, you should know all the eligibility criterias or the online or offline process to avail a loan. But worry not! Here is an insight of everything regarding the wedding loan you need to know!
Eligibility Criteria
All the bank or money lending institutions have some or the other criteria to set your eligibility. This is one of the many ways to ensure that you can repay the loan in the given time period. So, these are some of the eligibility criteria to
● The minimum monthly salary should be more than Rs. 22,000.
● The minimum and maximum age of eligibility are 22 years and 58 years respectively.
● The applicant must either be self-employed or salaried.
Documentation for Wedding Loan
The documentation process in a wedding loan is required to check the authenticity of the person. It is mandatory to ensure that the loaning amount will be returned to the bank with interest by the customers. So, you must carry these documents to avail loan from Wedding Loan.
● Proof of identity
Aadhaar, Passport, Voter ID, Driving License, Photo PAN Card, Photo Ration Card, etc.
● Proof of Address
Passport, Utility Bills, Rental Agreement letter, Driving License, Insurance Policy, Ration Card, etc.
Steps to Apply for Wedding Loan
Follow the below-given steps to apply for a wedding loan in once you qualify the eligibility criteria;
Existing criteria for customers who wants apply for a top-up by following the steps mentioned below:
● Visit the official website of Wedding Loan Bank.
● On the main page, click on personal loan top-up.
● The page will be redirected to the personal loan top-up application form.
● Fill in the required details – the type of loan you’d wish to avail yourself, personal details, and contact details.
● Click on ‘continue’.
If found eligible, the customer care team of Wedding Loan Bank will get in touch with you.
Features of Wedding Loan
● You can apply for a personal loan by visiting Wedding Loan Bank’s official website. Regardless of whether you are a customer of Wedding Loan Bank or
not, you can apply for a personal loan from the bank. The overall process of applying for a personal loan online is simple, hassle-free, and saves a lot of time.
● If your repayment tenure is 3 years, 4 years, or 5 years, then you get a waiver on your last EMI.
● You also get to enjoy 50% off on your processing fee if you avail of a personal loan from Wedding Loan Bank online. You can save up to Rs.30,000 on your processing fee if you apply for a personal loan online.
● You can apply for a Wedding Loan Bank personal loan regardless of whether you are a salaried individual or a self-employed person.
● You do not require a guarantor or any form of security while applying for a Wedding Loan personal loan.
● You can use the Wedding Loan Bank login portal to check the status of your personal loan. Once the loan amount gets credited to your bank account, you can use the same portal to pay the EMIs.
● The documentation process is simple and hassle-free. You can submit a copy of your Aadhaar Card, Pan Card, passport, driving license, ration card, or voter ID card as proof of identity. You can submit a copy of your telephone bill, electricity bill, passport, insurance policy, etc. as proof of your address.
So, this is an overall idea to help you avail of an easy personal loan or wedding loan from the bank. Follow these paragraphs and make sure you have finances in surplus to last the wedding festivities.