Here, we will explore the positive and negative aspects, along with other considerations, so that you are well-informed in making a decision that prepares you for the future.
The rising costs of the big day
The cost of the average Indian wedding may be from ₹5 to ₹50 lakh and beyond for destination weddings, table setups, and luxury photography. Many couples and families take out marriage loans, which are often done in the form of unsecured personal loans offered by banks and NBFCs, as they can access money when they have funds or family support.
These loans are ideal for time-sensitive events, like weddings, since they can provide capital immediately by using the funds without collateral.
(Note: Please visit the bank’s official website to learn more about the interest rates and fees & charges of the personal loan.)
In conclusion, it is important to take your options into consideration and act according to your needs. Evaluate your present financial position, any commitments on the horizon and what your ability to repay is. Weddings are important, but starting your married life saturated in debt may not be a good way to start.
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