Marriage Loan YourWay

Perfect Loan for a More
than Perfect Wedding

While you print the wedding invitations,we print your loan cheque.
Take a marriage loan the way you want it, with a flexibility to prepay or repay according to your wedding plan at no additional cost.

Apply now. Take approval instantly and receive money in your account as soon as tomorrow.

A New Type of Wedding/Marriage Loan Available Only Online


A wedding or a marriage is a big event to celebrate, and it is not just about two people but two families becoming one big family. Planning a picture perfect wedding and taking care of all the expenses can be quite intriguing. MyMudra offers wedding loans that can be utilised from pre wedding photo shoots to honeymoon expenses, enabling you to put your hard earned savings for better investment options. MyMudra offers transparent and hassle free Online Application & Instant Approval of wedding loans. Apply today and get the money as soon as tomorrow without stepping out, giving you more time for your celebrations without any worry.


INTEREST RATE STARTS FROM

13.99 %
%
CHECK RATEs >

EMI START FROM

Rs. 2326
CHECK EMI >

Why Wedding/Marriage Loan from My Mudra FinCorp


Loan for Marriage Expenses

Loan that can be utilised towards various wedding/marriage expenses.

Apply for Marriage Loan

Apply for a loan today;
get the money as soon as tomorrow

Online Application for Marriage Loan

Transparent and hassle free
Online Application & Instant Approval

Repay for Marriage Loan

My loan MyWay! Flexibility to plan,
avail & repay as per your choice and
convenience with various options.

Marriage Loan Disbursement

Take the disbursement of loan as
required during the requirement period.

Flexi Marriage Loan

Flexi loan: pay interest only on used
loan amount rather than the entire
sanctioned loan amount.

EMI Free Loan Options

Over Draft and EMI free loan options

No Prepayment, No Foreclosure charges, No Guarantor Required

No prepayment, no foreclosure charges,
no guarantor required

EMI Options Available

Option of step up or step down EMIs

Why Wedding/Marriage Loan from My Mudra FinCorp


  • Loan that can be utilised towards various wedding/marriage expenses.

  • Apply for a loan today; get the money as soon as tomorrow

  • Transparent and hassle free Online Application & Instant Approval

  • My loan MyWay! Flexibility to plan, avail & repay as per your choice and convenience with various options.

  • Take the disbursement of loan as required during the requirement period.

  • Flexi loan: pay interest only on used loan amount rather than the entire sanctioned loan amount.

  • Over Draft and EMI free loan options

  • No prepayment, no foreclosure charges, no guarantor required

  • Option of step up or step down EMIs

How It Works

Simple procedure, multiple repayment options makes it more personal than a personal loan! That’s why we call it Your Loan Your Way!
Checking your loan eligibility to online loan application to disbursal can be executed within 12 to 48 working hours.

CHECK ELIGIBILITY AND APPLY ONLINE IN MINUTES BY PROVIDING BASIC DETAILS

We have simplified the loan application process. You can quickly apply online and get the decision from us within few minutes.

1

GET INSTANT APPROVAL

After submission of a duly completed online application form, you can get an instant approval.

2

UPLOAD THE REQUIRED DOCUMENTS

Post the loan is approved; you need not submit the hard copies of your documents. You can simply upload them online

3

4

COMPLETE THE DISBURSAL FORMALITIES

Post uploading the documents , we will help you complete the disbursal formalities either online or offline, as required.

5

GET MONEY IN YOUR ACCOUNT

Once your loan is disbursed, we will get your money credited into your account.

6

START REPAYMENT

Begin repaying the loan through EMI by giving a mandate to your bank.

More Reasons to Take a Wedding Loan from My Mudra FinCorp


Pay EMI Immediately
Choose to pay EMI immediately after disbursal or 6 months later, till then you pay only interest.
Loan Amount
Minimum Loan amount of Rs. 30 thousand and maximum loan amount of up to Rs. 10 Lacs
EMI Waiver
EMI Waiver, based on your clear repayment across the term of the loan.
Top up loans
Avail a Top- Up loan after 6-12 months based on your repayment track record.
Affordable Interest Rate
Affordable Interest rate at flat 1.5% to 2%p.a
EMI Options
Option of step up or step down EMIs.
Tenure
Tenure up to 60 months.
Insurance Protection
Insurance Protection available.
 

Read More about Wedding Loan from My Mudra FinCorp


What is a Marriage Loan?

A marriage is the most exciting and memorable phase of one’s life. Most people want a wedding of their dreams, lavish and extravagant. While living in this materialistic era, everyone has different choices and thoughts about their weddings. Some people want their wedding to be a trend setter; some wants a nice destination wedding while some wants to keep it simple. Whatever the case may be, but this special occasion needs a lot of funds as well as some financial management. Earlier the elder people of the family use to manage all the arrangements of the weddings by themselves but now-a-days, people believe in wedding planners which somewhat increases the financial burden. A marriage loan or a wedding loan is a good option to pay for your wedding expenses without putting extra burden on your pocket.


Why You Should Take a Marriage Loan?

A loan for marriage has become a preferred option to pay for wedding, particularly among the younger generation. Indian weddings are a hefty and expensive affair. Even if you come from a wealthy family, there are numerous things you have to pay for. There are outfit, venue, decoration, food, gifts and other countless things which can disturb your budget. Often, people fall short of funds needed for an elaborate wedding which is why they go for loans for wedding. Opting for a wedding loan also provides you with a sense of independency and equality as the young generation don’t want to burden their parents and wants to bear the expenses on their own. Taking a online personal loan for wedding will also help you in a way where you can use your savings for other expenses. A wedding loan will help you with immediate funds so that shortage of funds will not become a reason to delay anything related to your dream wedding.


Features and Benefits of Marriage Loan

Applying for a wedding loan has its own perks. People are now going for wedding financing not out of necessity but out of choice. Certain features and benefits of a marriage loan are as follows:

  • Marriage loans come with easy repayment options. Most banks provide flexible interest rates, tenure and EMIs options.
  • Marriage loans are unsecured loans and thus do not require any collateral.
  • You don’t need a guarantor for a marriage loan.
  • One of the advantages of marriage loans are that they are easily approved. These loans are approved within 48 hours of the application in some cases.
  • Almost all the banks now days are providing accidental insurance covers along with these kinds of loans.
  • As the marriage loan market is on an upsurge, the banks are keen to provide low interest rates as they want to lose their loyal customers.
  • These loans require a minimal paperwork and the documentation process is fast.
  • The loan amount is disbursed within two working days.
  • There is complete flexibility on how you should spend the loan amount.
  • You can get a flexible tenure starting from 12 months to 48 months and even 60 months.
  • Customers can also avail prepayment facility on a marriage loan which will help them to clear their entire outstanding balance.


Fees and Charges of Marriage Loan

Before applying for a marriage loan in India one must know about the fees and charges. Along with interest rates are there are certain charges that are levy on wedding loan. These charges include:

  • Processing fee- Banks usually charges a processing fee depending on the loan amount. This fee varies from 0.5%-4%. This fee is non-refundable.
  • Banks also levy part Prepayment charges and vary from bank to bank.
  • Foreclosure charges are also levied on applicants and ranges from 2% to 4%.
  • Some banks also charge some amount for delay in payments.
  • Other than that there are some miscellaneous charges like PDC charges, cancellation charges, bouncing charges, swapping charges etc.


Current Interest Rates on Wedding Loan

Weddings are an important milestone in Indian families. To attract customers, many banks provide wedding loans with low interest rates. The interest rates vary from bank to bank. Here is a comparison of interest rates of some banks:

Banks Interest Rates
HDFC Bank 10.99% - 20.00%
ICICI Bank 10.99% - 22.00%
Bajaj Finserv 11.99% - 15.50%
Citi Bank 10.99% - 16.49%
SBI Bank 12.50% - 16.60%
Axis Bank 11.25% - 24.00%
IndusInd Bank 11.99% - 23.00%
Standard Chartered bank 11.49% - 20.00%
Kotak Mahindra bank 11.50% - 24.00%
Bank of Baroda 11.60% - 16.60%


Documentation Required for Marriage Loan

Wedding loan, just like any other loans requires some documentation. Loans for marriage purpose do not need a lengthy set of documentation. An applicant will be asked a few documents listed below:

    Salaried Applicants:
  1. Application form filed and duly signed with two latest photographs.
  2. Copy of Passport/Voter ID card/ driving license/PAN cards ad proof of identity.
  3. Address proof such as leave and license agreement/utility bill/Passport.
  4. House ownership proof including Property documents or electricity bill.
  5. Bank statement of last six months.
  6. Salary slips for last 3 months or current dated salary certificate with the latest form 16.
  7. Submit if any investments like, Fixed Deposit, Shares, Fixed Assets, etc.
  8. If there is any existing loan, please submit sanction letter, payment track record.
    Self-Employed Applicants:
  1. Application form filed and duly signed with two latest photographs.
  2. Copy of Passport/Voter ID card/ driving license/PAN cards ad proof of identity.
  3. Address proof such as leave and license agreement/utility bill/Passport.
  4. House ownership proof including Property documents or electricity bill.
  5. Proof of office address such as maintenance bill or utility bill.
  6. Property documents needs to be submitted as office ownership proof.
  7. Existence proof of business with saral copy of 3 years, Shop Establishment Act, Any Tax Registration Copy, Company Registration license.
  8. Latest 2 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.,
  9. Bank statement of last 1 year of both current and savings accounts.
  10. Submit if any investments like, Fixed Deposit, Shares, Fixed Assets, etc.
  11. If there is any existing loan, please submit sanction letter, payment track record.


Marriage Loan Eligibility Criteria

Below are the criteria for a wedding personal loan:

  • Age of the applicant should be between 21-60 years.
  • Salaried individual with minimum income of Rs 15,000 in most cases and can go up to Rs 25,000.
  • Applicant should be staying in the city for at least 1 year.
  • Applicant should be working for at least two years prior to applying for personal wedding loans.
  • A credit score of 700 is preferred by most of the banks. While some banks ask for a minimum CIBIL of 750.


Top Five Providers of Marriage Loans

Here are top five providers in India that offers various wedding loans schemes for its customers:

  1. ICICI Bank
    ICICI offers wedding loans under the category of personal loans with a fixed rate of interest. The processing fee of ICICI bank is 2.50% and prepayment is possible post payments of 6 EMIs. Loan amount for marriage loan offered by ICICI bank is 20 lakhs.
  2. Tata Capital
    Tata Capital offers wedding loans at an attractive rate of interest. Salaried borrowers with minimum monthly income of Rs 20,000 and self-employed with Rs 2, 00,000 per year ITR are eligible for Tata Capital wedding loans. They offer repayment period of up to 6 years with a loan amount of up to 15 lakhs.
  3. State Bank of India
    Country’s biggest lender offers saral personal scheme for providing marriage loans. The bank offers repayment period up to 4 years with a loan amount up to 10 lakhs.
  4. Axis Bank
    Axis bank is India’s third largest bank and one of the preferred banks when it comes to loans. Axis bank offers loans only to salaried individuals. Axis bank provides personal loans with simple procedure, minimal documentation and quick approval. The repayment period is up to 5 years with a loan amount of up to 15 lakhs.
  5. HSBC Bank
    HSBC offers personal loan to meet marriage expenses. They provide a repayment period of 5 years and loan amount up to Rs 20 lakhs.


Why MyMudra Financial

MyMudra Financial connects customers with over 50 financial institutes. It provides multiple online tools to search compare and analyze different types of loans. We provide our customers with the option of applying for wedding loan online as well as offline. The online application process to apply for a marriage loan online with us is very simple, hassle free and requires minimum documentation. With easy and fast loan disbursement, MyMudra financial stands out among all its competitors. We offer best interest rates, lowest application fees, highest loan amount, suitable tenure from best suitable financier. My Mudra FinCrop is one stop solution for all your wedding expenses. Here is why you should apply a marriage loan with MyMudra financial:

  • Customer can choose to pay EMI immediately after disbursal or 6 months later, till then they can pay only interest.
  • Customers can avail a Top- Up loan along with a wedding loan after 6-12 months based on your repayment track record.
  • My Mudra FinCrop provide tenure of up to 60 months.
  • We offer minimum loan amount of 30,000 and maximum loan amount of up to Rs 10 lakhs.
  • The interest rates you get with MyMudra financial are affordable ranging from 1.5% to 2%p.a at flat.
  • One also gets insurance protection along with the loan.
  • We provide you the option of stepping up or stepping down your EMIs.


Marriage Loan FAQs

  1. What is a wedding loan?
    A wedding loan is a personal loan offered at competitive interest rates to manage all your expenses for your dream wedding.
  2. Can I foreclose/pre-pay the loan before the end of the tenure?
    Yes one can foreclose/pre pay the loan without any additional charge/penalty.
  3. Will I have to provide any security/collateral for the wedding loan?
    No, Wedding loans fall under the category of personal loan and thus does not require any type of collateral or guarantor.
  4. How long will it take for my loan to get disbursed?
    Wedding loans generally take two days to get disbursed post verification.
  5. What are the documents that the bank will ask for?
    The bank will require your proof of ID (with photograph), proof of address and proof of income.


Customer Reviews and Testimonials

When Customers feel special; they express, here we share their best reviews & testimonials.


Have Some More Queries


Read on the FAQs
Q. What is the minimum and maximum loan amount I can get under Marriage loan from My Mudra FinCorp?
The minimum loan amount you can apply for is as low as Rs. 25 thousand and the maximum loan amount is up to Rs. 10.00 Lacs.
Q. What is the Income eligibility criterion for taking an Marriage loan from My Mudra FinCorp?

Minimum income required to apply for marriage loan is Rs. 30 thousand.
Q. Can I foreclose/pre-pay the loan before the end of the tenure?
Yes one can foreclose/pre pay the loan without any additional charge/penalty.
Q. Can I take a marriage loan for my sister?

Yes, family and relatives can borrow marriage loan.

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