Because a wedding is an event that brings two individuals and their families together, it is natural for you to want to make it as memorable as possible. However, most weddings require a lot of funds, which may not be readily available for most people. Here’s where a marriage loan comes into the picture. 

A marriage loan is essentially a personal loan that you use to take care of your wedding expenses, whatever they may be. However, if you’re not convinced about taking a loan for a wedding, maybe this article can help. Here are 5 of the most compelling reasons why you should take out a marriage loan to fund the wedding of your dreams. 

#1 - Relaxed Eligibility Criteria

Contrary to popular opinion, getting a personal loan to fund your marriage expenses is quite easy. Most financial institutions have relaxed the eligibility criteria for borrowers in a bid to make it easier to apply for loans. As long as you possess a high credit score of 700 or more and have a steady and consistent stream of income, you should qualify for a marriage loan. 

That said, different lenders tend to have different eligibility requirements. So it is recommended that you compare offers from multiple institutions. This simple exercise can help you determine the provider whose eligibility criteria you satisfy. 

#2 - Highly Convenient Application Process

Nowadays, you don’t have to physically visit the branch of a bank or an NBFC or fill out any manual application to apply for a marriage loan. Almost all financial institutions have moved towards a completely online and paperless application process. This has made applying for the credit facility extremely quick and convenient.  

All that you need to do is visit the official website of the lender, fill out an online loan application, upload scanned copies of all the relevant documents, and submit them. The lender would then process your application and upon successful verification, would electronically transfer the funds to your bank account. 

The entire process usually takes only a few days to complete. On the other hand, if you have a long-standing existing relationship with a lender, you may even be eligible for instant loan disbursals as well. 

#3 - Easy Repayments

This is another major reason why you should take a marriage loan to fund your wedding. Irrespective of the amount of loan that you avail, you can choose to repay the loan in small and affordable monthly instalments over a certain period. 

In addition to being able to easily repay the loan, borrowers also get the benefit of customisability. They not only get to choose the amount of loan they wish to take but also the tenure over which they would like to repay the loan. 

Such flexibility and a favourable repayment plan can be highly advantageous for newly-wed couples since it allows them to manage their financial situation in a much better manner. Also, being able to repay a huge loan in small monthly instalments gives them the freedom to also save some money for the future. 

That said, before you proceed to take out a marriage loan, always remember to use a personal loan EMI calculator. It is a nifty little tool that’s designed to give you an estimate of your monthly loan obligations. By using it, you can quickly ascertain whether you possess the repayment capacity to service the loan on time till the end of the tenure. 

#4 - No Collateral Requirements

With most kinds of loans, you might be required to pledge an asset as collateral to secure the credit facility. This can be cumbersome and can be a deal breaker for individuals who don’t possess any assets to pledge as collateral. 

With a marriage loan, however, there’s no such requirement. This is because personal loans are unsecured credit facilities, which makes them more accessible to a wider base of individuals. As long as you possess a strong credit history, a high credit score, and satisfy all the other eligibility criteria set by the lender, you can avail of a marriage loan.

#5 - Ability to Cover Last-Minute Expenses

No matter how meticulously you plan a wedding, there will almost always be a few last-minute expenses that you will have to account for. Getting quick access to funds to cover these costs is of paramount importance, especially with the wedding not too far off. Since you can apply for it and get it disbursed within a matter of a few hours, a marriage loan is the best way to take care of such unexpected expenses. 


After going through these 5 reasons explained above, you must now be convinced of why you should opt for a wedding loan to cover the expenses associated with a wedding. Now, before you go ahead and apply for one, remember to compare different offers from multiple lenders. 

Doing so can not only help you land an offer with the lowest interest rate but also ensure that you sign up with a lender that offers the most benefits. 

Also, don’t forget to use a personal loan calculator. Knowing your monthly debt obligations beforehand can help you plan your finances better and make an informed decision.