Remember These 4 Points When Taking a Marriage Loan for Agarwal Matrimony

Remember These 4 Points When Taking a Marriage Loan for Agarwal Matrimony Despite being a small number in terms of the overall Indian population, Agarwal matrimony weddings are quite popular for its culture and grand celebration. In India, most Agarwals live in Uttar Pradesh, Haryana and Rajasthan. The whole Agarwal community is divided into 18 Gotras.

Some of them are Goel, Garg, Mittal and Singhal. Like all other weddings in India, people like to leave no stone unturned when it comes to Agarwal matrimony weddings. If you belong to the Agarwal community and are planning your wedding, you shouldn’t worry about money for all the wedding-related expenses. Especially when you can get a personal loan for marriage.

Yes, in today’s time, you can get a personal loan against no security to manage all the wedding-related things like catering, decoration, photography, hotel booking or any other miscellaneous expenses. So, if you are short of some money, this could be a good option. But before that, you should know about some important points which will help you get a marriage loan in a hassle-free manner. It is not a good idea to apply for a personal loan for your Agarwal matrimony marriage without understanding these points. In this article, we will be talking about them only. Let’s get to it!

See if You Really Need a Personal Loan for Agarwal Matrimony Wedding One of the first things that you need to do before applying for a personal loan for your Agarwal matrimony wedding is to think about its needs. Just because you can get a personal loan and it’s easy to apply for, it doesn’t mean you should get one. At the end of the day, you’re borrowing something and you will have to repay it. Talk to your parents, your partner and relatives that you’re going to take a personal loan and take advice from them. If you’re really short of some money, it could be a good idea. Also, check your repayment capacity and whether you will be able to pay the EMIs on time after your marriage.

Don’t Apply Too Many Times It is not a good idea to apply for a personal loan for your Agarwal matrimony marriage too many times. Many people apply for a loan at different banks by filling out separate application forms. But while doing this, they don’t realise that this behavior shows a negative impression that they are hungry for credit. And you certainly wouldn’t want that. Also, if you apply multiple times and face multiple rejections, it will reflect on your credit report. This will lower your chances of getting a loan in the future too. So, when planning your Agarwal matrimony marriage, always go to your existing bank to see if you have any pre-approved offers.

Choose a Longer Repayment Term

We understand that you’re all excited about your Agarwal matrimony wedding. That’s why you’ve decided to take a loan. But you should also think about the monthly installments that you will be paying after your wedding. So, one small tip would be to choose a longer repayment tenure that will make your EMIs manageable. However, if your monthly income allows, you can choose a shorter repayment tenure as it will also help you save a considerable interest amount on your loan. Any lender will check your present monthly income before approving your loan. So, keep this in mind too.

Check Your Marriage Loan Eligibility Yes, you can do this too. Before you take a loan to plan your Agarwal matrimony marriage, you can use the eligibility calculator to find out if you are eligible for a loan. And not only it, but it can also tell you how much amount you can get. Consider this as a soft search as it will not leave any impact on your credit record. In fact, you will increase your chances of getting approval. So, it is always a wise idea to check your eligibility before planning your Agarwal matrimony wedding with the help of a loan.

We hope you will remember these 4 points in mind and have a fantastic marriage. All the very best!