Wedding is one of the most looked forward to and once in a lifetime event in a person's life. However, we all know that with rising expenses, the emotion of the bride or bridegroom can be subdued. For an event as grand as a wedding, you want to ensure to leave no stone unturned. But the question arises how does a person with limited means achieve this goal.
This is especially true because major heads like outfits, jewelry, venue, catering; etc end up costing a lot more than what you may have budgeted for. For outfits, even non-designer wear costs a lot of money. Jewelry is something that is extremely important whether it is to be worn or to be gifted to your partner and hence there cannot be any compromises there. Venue is one area where you will be judged by people. As far as catering is concerned, it is undoubtedly extremely important as you want to ensure that the best spread is offered to the guests on the auspicious wedding day.
However, worry not as banks these days have started to understand the importance of such life events & offer personal loans in order to fulfill these requirements. One such bank is Kotak Mahindra Bank that provides personal loans with attractive interest rates so that shortage of funds doesn’t act as a roadblock. This loan can help you fill the desired gap between the planning and execution of your dream wedding. It can take care of the liquidity crunch you may be experiencing because of allocating your resources for various different things.
The personal loan for weddingwill top up your bank account. So be it to look absolutely stunning on your wedding day or provide the best facilities to guests, you may rest assured that you will have the resources to extend the desired hospitality to one and all.
So now the million dollar question - When to opt for personal loan to take care of wedding expenses?
The answer to the question lies by addressing the below points:
· Income: If you are someone with a fixed income and can take care of the personal loan EMI for the tenure you opt for, then there is no harm if you apply for quick wedding loans. However, if you struggle to make ends meet then may be this is not for you
· Other Loans: If you already feel pressured by an existing home loan/car loan then an additional loan would only mean additional pressure of repayment. However, if you can comfortably manage your debt then you must go for the this loan to manage last minute wedding expenses
· Spending Habits: If you are a compulsive spender and so is your future spouse then you need to consider before applying for this loan. However, if as a couple you can chart out a plan of repayment and wish to make the D-day special, then going for this loan is just the right product for you
In terms of repayment, ensure that this loan does not affect your future financial goals adversely. You must be able to save enough to make the EMI payment towards the loan. An ideal scenario would be to take the loan for a minimum tenure and make the payment.
With the right planning, you can apply for Personal Loan and ensure a dream wedding!