Indian weddings can be grand — and expensive. If you're short on savings, a personal loan might seem like a convenient way to cover costs. But should you take the plunge?
Here’s everything you need to know before borrowing for the big day.
Pros of Taking a Wedding Loan
1. Instant Access to Funds
Personal loans from Vizzve can be disbursed within hours, helping you cover urgent costs like venue bookings or last-minute expenses.
2. No Need to Liquidate Investments
Instead of touching your mutual funds or gold, a loan helps keep your long-term financial goals intact.
3. No Collateral Needed
Wedding loans are unsecured – no need to pledge assets.
4. Flexible Tenure & EMI Options
Choose repayment tenure from 12 to 60 months based on your income, with EMI plans that match your affordability.
Cons of a Wedding Loan
1. Interest Cost
Unlike savings, loans come with interest. Even at 11–16%, wedding loans can increase total cost significantly.
2. EMI Burden Post-Wedding
You may start your married life with a financial liability that strains future plans.
3. Overborrowing Temptation
With easy access to credit, it's easy to go overboard on spending for luxuries you didn’t initially plan for.
4. It’s Not an Investment
Unlike education or home loans, a wedding loan doesn’t offer financial returns — only memories.
When Does a Wedding Loan Make Sense?
You have stable income and repayment capacity
Your wedding is soon, and savings are not enough
You have no other major liabilities
You’re using the loan to cover essential costs, not splurge
Vizzve Finance Advantage
With Vizzve, you get:
Instant loan approvals
Transparent interest rates
EMI tracking tools
Personalized support for couples managing costs
FAQs
Q1. How much personal loan can I get for a wedding?
Up to ₹5–10 lakhs based on your income and eligibility.
Q2. Can I take a joint loan with my partner?
Yes, co-borrower wedding loans are allowed if both partners have income.
Q3. What if I can’t repay the EMI after marriage?
Vizzve offers EMI restructuring or moratoriums in emergency cases.
Q4. Can I get a wedding loan without salary slips?
Gig workers or freelancers can apply with bank statements and Aadhaar/PAN.
Final Thought
A wedding loan can be a savior — or a stressor. The key is balance. Borrow smartly, spend mindfully, and start your new life on a strong financial note.
Published on : 23rd July
Published by : SMITA
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