Features & Benefits of Personal Loan for Wedding
A loan for marriage comes with several features and benefits. These benefits ensure that couples have access to the funds they need at a reasonable cost. Some of the benefits that come with Piramal Finance marriage loans include:
Loan Amount and Tenure
No Security Required
Attractive Interest Rates and Easy Repayment
Quick, Hassle-Free Disbursal
Eligibility Criteria for a Marriage Loan
The different eligibility criteria that you need to fulfill to get a Personal Loan for Education are as follows:
Age:
To apply for a personal loan for wedding, applicant must be between 21 and 58 years of age.
Employment Status
Applicant working in public sector and private sector companies are considered eligible for a marriage loan.
Credit Score:
We at Piramal Finance offer Personal Loan to the applicants with credit score of 750 and more.
Different Types of Personal Loans
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A personal loan for wedding is a loan taken by people to fund their wedding costs. It can be used to finance important and urgent requirements regarding wedding function.
The calculation of marriage personal loan EMI is done using the following formula:
EMI Amount = [P x R x (1+R)^N]/[(1+R)^N-1]
Here,
P = Principal amount
R = Rate of Interest
N = Number of years for repayment (this is calculated in months). You can also avail our EMI Calculator.
Yes, people can obtain it even with a low credit score. However, the interest rate charged may be higher than usual. Borrowers should also expect to pay a slightly higher processing fee for personal loans taken on a low credit score.
Yes, you can foreclose or prepay the loan anytime during the loan tenure. There are Zero foreclosure or prepayment charges at Piramal Finance
Both the bride and groom, as well as other family members can take a loan for marriage provided they meet basic eligibility criteria.
