Know what is a personal marriage Loan and how to get an easy loan for marriage.

We all know the significance of marriage in a person’s life, and how everybody is eager to plan a wedding to create a memorable memory that they will treasure throughout their lives. Weddings in India have become a trend and everyone wants to commemorate it with the occasion of a celebration. Of course, it’s only once in a lifetime that we commemorate the bond that couples are creating. The most difficult part to organize a flawless wedding is following the rules and creating a happy environment that will cost us thousands of dollars.

Let’s look at the primary fact that not everybody can afford these extravagant celebrations and rituals. We must look for additional funds to plan an ordinary wedding. And to do this, could we get personal loans? Yes but. There is no word that can be described as a marriage credit, banks offer instant personal loans, which we could be able to consider as a personal marriage loan. It is available through any non-banking or banking financial institution.

Why you should consider an Instant Personal Marriage Loan for your Wedding?

• It is possible to apply for any sum ranging from to Rs. 50000 up to 40 lakhs.
• You can choose a flexible payback duration of between 12 and 60 months.
• There is no requirement for security: You can take out an unsecured marriage loan that does not require collateral or security, because Banks offer these personal loans to couples based on your monthly earnings and the organization that you work for.

Eligibility for personal marriage loan:

• Employees who earn a salary at certain private limited companies as well as public sector enterprises (including state, central, and local organizations)
• Should be between 21 to 60 years old
• You must have been employed for at least two years, and at an average of one year at the company currently employed.
• The salary requirements for you will vary according to the bank you wish to apply to.

Taxes and levies imposed by the government in the event that they are applicable, will be charged in addition to the fees and charges. Loan repayment is at the discretion of any bank you choose to apply.

Documents:

• Identity evidence (copy of the passport/voter ID card/driving license/Aadhaar)
• Address evidence (copy of the passport/voter ID card/driving license/Aadhaar)
• Statement of the bank for last three months (Passbook for the previous six months)
• Two recent salary slips/currently-dated salary certificate along with the most current Form 16
• The evidence of the use to end

These are the documents banks require The documents required by banks’ requirements may differ. *

Interest Rates and Charges

Every bank has its own rates and charges for a personal marriage loan. We have listed some of the rates according to the banks as of the moment.

Bank	The Interest Rate (p.a. )	Processing Fee
State Bank of India	9.60 % p.a. — 15.65 % p.a.	As high as 1.50 1 %
ICICI Bank	10.5 % p.a. 19.5 % p.a.	As high as 2.25 25%
HDFC Bank	10.5 % p.a. 10.5% p.a. 21.00 % p.a.	up to 2.50 up to 2.50
Yes Bank	13.99 % p.a. 13.99% p.a. 16.99 % p.a.	up to 2.50 up to 2.50
Citibank	9.99 % p.a. 9.99% p.a. 16.49 percent p.a.	As high as 3 %
Kotak Mahindra Bank	10.25 % and over	up to 2.5 %
Axis Bank	12% p.a. 21 % p.a.	at the discretion of the bank at its discretion.
Bank of Baroda	10.50 % p.a. – 12.50 percent p.a.	As high as 2 %
HSBC Bank	9.75 p.a. 9.75% p.a. 15.00% p.a.	up to 1%
IDFC First Bank	12% p.a. 26% p.a.	3.5% to 3.5%
Tata Capital	10.99% and up	As high as 2.75 up to 2.75
Karnataka Bank	12.5% p.a. 17% p.a.	Maximum of Rs.8,500
The Home Credit Cash Advance	19% p.a. 49% p.a.	0%-5 5
Federal Bank	10.49% p.a. – 17.99% p.a.	As high as 3 %
IndusInd Bank	11.00% p.a. – 31.50% p.a.	2.5% and up
IIFL	24% p.a. from now onwards	from 2%
Bank of India	10.75% p.a. – 12.75% p.a.	up to 2 %
Aditya Birla Capital	14 14% p.a. 26 14% p.a.	As high as 2 %
Fullerton India	11.99% p.a. 36% p.a	Up to up to
IDBI Bank	8.30% p.a. 8.30% p.a. 11.05% p.a.	Contact the bank
Indian Overseas Bank	9.30% p.a. 9.30% p.a. 10.80 10% p.a.	up to 0.50 up to 0.50
RBL Bank	14% p.a. 23% p.a.	As high as 3.5%
Punjab National Bank	8.95% p.a. 8.95% p.a. 14.50% p.a.	As high as 1.80 1 %
Bank of Maharashtra	9.55% p.a. – 12.90% p.a.	up to 1%
Central Bank of India	9.85% and over	Rs.500
City Union Bank	11.25 percent p.a.	1.25 %
Dhanalaxmi Bank	11.90 % p.a. — 15.7 % p.a.	up to 2.5 up to 2.5
J&K Bank	11.80 % p.a. and over	All the way to Rs.500

The advantages of using Nowofloan to get a Marriage Loan?

1. You can apply to several banks that are certified.

Nowofloan offers a lending consulting service provider who offers loans with membership cards. There is a portal through where you can verify your eligibility with a variety of banks and choose from which you would like to request a personal marriage loan.

2. You’ll get 10 years free loan consultation.

We help you get instant approval from a few members of our accredited NBFC partner channels. You can choose among a range of banks and rates of interest and durations for paybacks as well.

3. You can receive loans from a variety of banks at any time and from any location.

You will save time applying for loans through various banks, and you don’t have to visit multiple places to make an application for a loan with multiple banks. All you need to do is relax and enjoy yourself. Our website moves from bank to bank to collect your information and let you know the best place to apply for personal loans.

4. There is no effect on your cibil score for multiple bank verifications.

When you make an offline application, you may have noticed your score drops because of applying to multiple banks. However, when it is Nowofloan you don’t have to be concerned about your the cibil score. Our method has never changed any score in cibil.

5. Assistance on-call for all your questions.

You’ll be assigned a personal assistant right after signing up for membership. Our staff member will assist you in every way to receive approval from every bank. They are also available via our portal.

Explore more of our personal loan blog posts here.