Can I take loan for marriage?

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Marriage loans can be taken to fund the expenses associated with a wedding. Depending on the bank, the interest rate that will be levied and the maximum loan that is provided will vary. Leading banks in India like HDFC Bank, ICICI Bank, and Tata Capital offer marriage loans to eligible individuals.

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Simply so, can I get 20 lakhs loan without collateral?

Being an unsecured loan option, you do not have to provide any security for your Rs 20 lakh loan. The bank takes into consideration your monthly income, credit score and loan repayment history to assess your eligibility for the same. … Salaried individuals are eligible to apply for a Rs 20 lakh Personal Loan.

Correspondingly, can I take personal loan from 2 banks? Yes, it is possible to get a loan from two banks at the same time provided you earn high enough to pay the two loans. Besides income, other factors such as credit score, hard credit enquiries, fixed obligations, if any, will also matter. … Otherwise, you could face rejections and let your credit score drop drastically.

Just so, how can I get married with no money?

How to Get Married With Little Money

  1. Visit city hall. …
  2. Host the event in a public or backyard venue. …
  3. Write out your budget. …
  4. Make, borrow or rent your wedding clothing. …
  5. Enlist friends and family for services. …
  6. Create your own invitations and decorations. …
  7. Skip dinner.

How can I get money for my marriage?

A marriage loan or personal loan is a good option to pay for wedding expenses and make the day extra special without an immediate financial burden. Most banks offer marriage loans under the bracket of personal loans.

10 Related Question Answers Found

How can I get money for my wedding fast?

Ways to Earn Extra Money to Help Pay for Your Wedding

  1. PETSITTING.
  2. WORKING AS A VIRTUAL ASSISTANT.
  3. EBAY/CRAIGSLIST.
  4. DECLUTTER & SELL YOUR STUFF.
  5. ESTY SHOP.

How do finances work in a marriage?

Joint finances mean something different for every couple. Some couples keep their money mostly separate and only share one or two bank accounts. Other couples combine everything—bank accounts, credit cards, investments accounts, and more. When it comes to combining finances there isn’t a right or wrong answer.

How much loan I can get if my salary is 25000?

25,000, you can avail as much as Rs. 18.64 lakh as a loan to purchase a home worth Rs. 40 lakh (provided you have no existing financial obligations.)

How much loan will I get on my salary?

For example, if you are wondering how much personal loan can I get on a 30,000 salary. If you have no other EMIs, you can multiply your monthly salary by 27 to get the maximum loan amount you would be eligible for. In this case, it would be ₹8,10,000 with a tenure of 60 months.

How much personal loan can I get if my salary is 15000?

A: A salary of Rs. 15,000 generally falls in the category of a low-income borrower group. So, an instant personal loan app with a maximum approval amount of 1.5 Lakhs can be availed by the borrower with a starting salary of Rs. 15,000.

What is EMI full form?

An equated monthly instalment (EMI) is a set monthly payment provided by a borrower to a creditor on a set day, each month. EMIs apply to both interest and principal each month, and the loan is paid off in full over some years.

What is the EMI for 20 lakhs personal loan?

How to Calculate EMI for 20 Lakh Personal Loan?

Loan Amount (Rs.) Interest Rate (p.a.) Monthly EMI Payout (Rs.)
20 lakh 12.00% 1,77,698
20 lakh 13.00% 1,78,635
20 lakh 15.00% 1,80,517
20 lakh 20.00% 1,85,269

What is the EMI for 50000 loan?

Calculated Monthly EMI for 50000 of loan amount for 3 years at various rate of Interest :

Loan Amount Rate of Interest Per Month EMI
50000 14.00% Rs. 1,709
50000 15.00% Rs. 1,733
50000 16.00% Rs. 1,758
50000 18.00% Rs. 1,808

What is the interest of 1 lakh?

Likewise, for an investment of Rs 20 Lakhs, you will get Rs. 10,517 as monthly interest.

Investment amount Monthly interest Cumulative interest for 5 years
1 lakh Rs. 526 Rs. 37,009
5 lakh Rs.2,629 Rs. 185,043
10 lakh Rs.5,258 Rs.3,70,087

Which loan is best for wedding?

Here is why we recommend opting for a personal loan for marriage.

  • Receive wedding loan funds instantly. …
  • Use the funds for any wedding-related expenses. …
  • Choose EMI and tenure of your marriage loan. …
  • Benefit from competitive interest rates. …
  • No need to liquidate investments.

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