saving money on wedding

Easy Ways to Get a Wedding Loan? Check Out this Guide to Marriage Loans in India

When it comes to weddings, Indians know how to make them grand and memorable. However, planning a wedding is an extensive and expensive affair. So, if you’re struggling to finance your big day, here’s a solution: a Marriage Loan. A Marriage Loan is essentially a Personal Loan that can be used by anyone looking to finance their wedding. It can be used to cover a wide range of wedding expenses, including the cost of the venue, catering, decoration, clothing, jewelry, gifts, etc. When considering a Marriage Loan, research loans offered by different providers and finalize the one with the best terms. You will also want to ensure you can comfortably afford the monthly payments. 

With proper research, you can get a marriage loan with attractive interest rates and flexible tenure without collateral. Financial institutions and NBFCs like Clix Capital offer Personal Loans for Weddings with competitive interest rates, quicker processing, and faster approvals.

Before taking out a Marriage Loan, here is everything you should know-

  • Marriage Loans fall under the category of unsecured loans. So, one major advantage to obtaining a Marriage Loan is that you need not pledge an asset as you would for any other type of loan.

  • Since it is an unsecured loan, the interest rate is higher than those associated with secured loans, such as mortgages and car loans. Depending on the loan provider, interest rates may vary from 14.99% to 24.99%.

  • Based on your credit history and score, you may be able to qualify for a Personal Loan for a Wedding of up to ₹10 lakhs.

  • Marriage Loans typically have a tenure of one to four years. However, certain NBFCs may allow an extension.

  • Your credit history and score will go a long way toward determining whether you can negotiate a better interest rate. Usually, an Experian credit score of 630 is required to be eligible for a Personal Loan for a Wedding.

  • There is a nominal processing fee for a Marriage Loan. However, it may be possible to negotiate the processing fee with the lending institution if you are a long-term customer and have excellent credit standing with them.

  • If you intend to repay the loan earlier, you should consult the lending institution about prepayment and foreclosure charges. There are usually fees associated with the foreclosure of Personal Loans for Weddings, which can be quite significant when the debt is substantial
  • Marriage Loans can be obtained online at your convenience, and you can get the loan amount within minutes after approval.

How do I qualify for a Marriage Loan?

Generally, NBFCs do not request many documents for a Personal Loan for a Wedding. Lending institutions may have different eligibility criteria for marriage loans. In general, you must meet the following requirements:

  • Indian citizenship 
  • Age range – 21 to 58 years 
  • Minimum monthly income of ₹20,000

When considering a Marriage Loan, lending institutions generally require the following documents:

  • Proof of identity – Aadhar Card, Pan Card, Identity Card, etc.
  • Proof of address – Voter ID, Aadhar Card, Passport, Driver’s License, Utility Bill, etc.

Proof of income

In the case of salaried applicants:

  • Past six months’ salary slips

In the case of self-employed applicants:

  • Proof of business ownership
  • The most recent Income Tax Return (ITR), along with the income computation
  • A Chartered Accountant must certify the balance sheet and profit and loss statement for the past two years


If you plan to avail yourself of a marriage loan in India, it is essential to know the various available options and the eligibility criteria. It is also necessary to compare different loan offers before making a final decision. These tips will ensure you get the best deal on a Personal Loan for a Wedding.

By Michael Caine

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