Do Financial Companies Give Loan for WeddingA finance company is a channel that lends money to borrowers for an interest rate. According to the Reserve Bank of India (RBI), the primary function of finance companies is to give loans to individuals for personal use. The RBI framework regulates the working of financial companies. Financial companies are government sanctioned bodies that give different types of loans such as secured and unsecured loans to salaried and self-employed individuals.
When it comes to weddings, expenditures are bound to rise and at times you may fall short of money to organize wedding requisites. At this time, a trusted financial company can help you with a wedding loan to cover major wedding expenditures.
A personal loan online is an easy way out to get the wedding basics in place with instant loan apps or credit portals, readily helping with quick cash loans in minimum procedures.
There is no limitation on how to use a wedding loan.You can use the funds to pay for your wedding attire, hotel rooms, banquet hall, honeymoon destinationetc. It is a flexible loan helping you to cope up with the expenses for your big day.
Key Features and Benefits of a Wedding Loan from Financial Companies
- Collateral free- Offers unsecured personal loan for a wedding affair, without any security or guarantor required against your loan amount.
- Quick approval- Wedding loan taken online is instantly applied and approved after a comprehensive verification of required documents.
- Customize your loan amount & EMI- With the help of al oan EMI calculator in-built in the loan app, borrowers can selectthe loan amount, interest rate percentage and tenure that derives an equated monthly instalment (EMI) to be paid as per your budget.
- Minimal documentation- Minimal paperless documentation in contrast to the traditional way of presenting heaps of documents to the bank executives during a loan application. Basically, KYC documents and income documents are required for wedding loan sanction.
- Disbursal- The real time verification of the loan application and documents enables disbursal of loan in 24 hours. The amount is directly credited to the borrower’s registered bank account.
Eligibility Criteria and Documents for Wedding Loan Followed by Financial Companies
Minimum age limit of a loan borrower should be between 21-58 years. The borrower should earn a minimum income of Rs. 15,000 per month and have a good credit score to gain a flexible rate of interest.
Documents for Marriage Loan: You need to submit KYC documents that includes Identity and address proof (Aadhar card/Driving License).
Financial documents may include 6 months’ bank statements or recent bank transactions, individual profile, and other important documents requested by the lender.
Simply Cash is aconvenient instant loan app suitable to acquire a marriage loan online up-to Rs. 1,50,000. All the steps involved in the loan application is done in a paperless format – application, documents submission, verification and disbursal everything is done online. This saves a considerable amount of time and gives the convenience of borrowing marriage loan from the comfort of your home.