Taking a personal loan for your wedding? Here are the essential things you must keep in mind

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A personal loan can be utilised to fund your wedding expenditures, with numerous banks in India providing dedicated personal loans designed for weddings. These loans are promoted as a means to support your ideal wedding without the burden of financial strain. Typically, they come with the following features:

Before securing a wedding loan, it’s essential to ponder over the following factors:

When contemplating a personal loan for your wedding, it’s crucial to explore various lenders and compare their rates.

Choosing a personal loan for your wedding is contingent upon your financial circumstances and priorities. The subsequent list outlines reasons as to why opting for a wedding loan might align with your requirements.

Nevertheless, it’s crucial to bear in mind that a personal loan is an unsecured form of borrowing, accompanied by elevated interest rates. This aspect underscores the potential hindrance it may pose to your financial progress.

Although the interest rate holds significance, it should not be the sole focus. Take into account the total cost of the loan, encompassing fees, and select the loan that aligns best with your needs and budget.

A favourable credit score, usually exceeding 720, enhances your likelihood of approval for a personal loan. Lenders interpret a high score as a sign of responsible credit management, making them more inclined to extend a loan to you. Conversely, a lower credit score might pose challenges in securing approval, or you may qualify for a loan with a significantly higher interest rate.

Credit score ranges are typically categorised (specific ranges may vary slightly by credit bureau). In general, a higher score range corresponds to a lower interest rate that you’ll be eligible for

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