Planning a wedding is exciting but it also comes with a hefty price tag. From décor to catering, venues to outfits, the expenses can add up quickly. If you find yourself needing a little extra support to make your dream wedding a reality, a personal loan can be a viable option.
Here’s a practical guide on how and when to apply for a personal loan to fund your wedding expenses for a smooth and stress-free time.
Tips to Take a Personal Loan for Wedding Expenses
1. Check Your Credit Score
Before applying for a personal loan, it’s important to check your credit score. A healthy credit score (typically 700 and above) signals responsible borrowing behaviour and increases your chances of approval. It also influences the personal loan interest rate you’re offered. The better your score, the more favourable the terms.
2. Keep Key Documents Ready
To streamline your personal loan application, keep essential documents ready. These usually include your PAN, Aadhaar, recent salary slips, and bank statements. Ensure your bank account shows a consistent income inflow, as this improves your loan eligibility personal loan.
3. Clear Existing or Overdue Loans
If you have other active loans or unpaid dues, consider settling them first. Too many active borrowings can affect your loan eligibility and result in higher personal loan interest rates. Lenders prefer applicants with low debt-to-income ratios and a clean repayment record.
4. Review Fees and Interest Charges
Weddings are emotional and so your financial decisions shouldn’t be. Take time to compare personal loan interest rates, processing fees, and repayment tenures. FatakPay offers personal loans of up to ₹5 lakh with interest rates starting from as low as 15% per annum, based on your personal loan eligibility calculator results.
Apply for a Wedding Loan with FatakPay
Getting a personal loan through FatakPay is simple, fast, and 100% digital. Here’s how:
- Download the FatakPay loan app
- Complete your e-KYC using Aadhaar and PAN
- Upload your latest bank statements
- Check your personal loan eligibility using the in-app personal loan eligibility calculator
- Select your loan amount and repayment plan
- Get instant approval and direct credit to your bank account
Whether you need ₹20,000 for catering or ₹5 lakh for venue booking and jewellery, FatakPay has flexible options to suit your wedding needs.
Plan Now, Stress Less Later
A personal loan for your wedding can give you the financial flexibility you need, without disrupting your savings. But be sure to borrow responsibly and use tools like EMI calculators to plan repayments. With FatakPay’s easy personal loan application process and transparent charges, your dream wedding is just a few clicks away.
Want help managing your EMIs better? Don’t forget to check out our guide on how to manage loan EMI.
