Detailed Guide On Borrowing A Wedding Loan To Fund Your Special Day

Nov 11, 2020

Detailed Guide On Borrowing A Wedding Loan To Fund Your Special Day

A wedding is one of the most special days in anyone’s life. It is the day you make a lifelong commitment to starting a journey with your partner, and this definitely calls for a celebration with your near and dear ones. A beautiful wedding ceremony at the right venue, with the perfect food and décor, jewelry and a photographer to document the day is something most people dream of.

Money should not be a reason why you don’t get your dream wedding. Not everyone has enough money saved up to fund their wedding. This is why finance for weddings can be taken care of with a wedding or marriage loan.

What is a Wedding Loan?

A wedding or a marriage loan is a personal loan that can help you get finance for your wedding day or just provide finance for marriage. With a wedding loan, you can not only shoulder all the expenses of your wedding celebration, but you can also fund other marriage expenses. There are no restrictions on how to use the loan amount. You may use a marriage loan for:

  • Paying for all wedding-related expenses like wedding invites, venue costs, décor charges, bride-and-groom outfits, catering expenses, make-up and photography charges, gifts for guests, etc.
  • Funding honeymoon expenses
  • Home renovation or purchasing furnishings for your new home
  • Buying your spouse-to-be a special gift

While this is similar to a personal loan, a wedding or marriage loan provides you with a higher loan amount that can be repaid in convenient installments. Some wedding loans require collateral but most loans are unsecured loans provided on the basis of your income and credit history. This way, you can plan your ideal wedding without stressing about every rupee you spend.

The Pros and Cons of Credit Finance for Marriage

There are both upsides and downsides to availing a loan for your marriage.


  • A wedding loan is a convenient, quick and self-reliable way to fund your wedding. You do not have to ask your parents or relatives to fund your wedding.
  • Your savings will remain intact and you also don’t have to compromise on your dream wedding.
  • Wedding loans provide a large amount of money so you can celebrate your new relationship with little stress. Many banks provide wedding loans of up to 75 lakh rupees or 30 times the applicant’s monthly income.
  • A marriage or wedding loan provides better interest rates than a credit card, has minimal documentation needs and does not require collateral under most circumstances.
  • Making timely payments on your wedding loan can help you improve your credit score for future loans such as a home or car loan.


  • You will be beginning your marriage in debt.
  • Getting external finance for marriage can tempt you to spend beyond your budget.
  • Choosing an unsecured loan can mean a sizeable interest charge.

Tips for When you Consider a Wedding Loan

That being said, if you choose to take out a loan to fund your marriage expenses, here are some tips on how to go about it:

  • Create a wedding budget. Accurately estimate all the expenses and stick to the budget as far as possible.
  • Before applying for a marriage loan, calculate what portion of the expenses you can fund with your savings or gift money. Take a loan only for the remaining amount.
  • Compare the loan options in the market and find a fit that works best for you. Compare interest rates, EMI options and any prepayment charges before choosing a loan.
  • If you have collateral, consider taking a secured personal loan to reduce interest expenses.
  • Consider taking a joint wedding loan with your partner to improve loan amount, interest rates and your joint credit score.

Marriage Loan Eligibility

Now that you know the pros and cons of taking a wedding loan and some tips on how to go about it, here is what you need to know about marriage loan eligibility:

  • You need to be of marriageable age to apply for a marriage loan. Most banks require marriage loan applicants to be at least 21 years old which is a key prerequisite for marriage loan eligibility.
  • A monthly income of at least Rs. 15,000 is a prerequisite for a marriage loan from most financial institutions.
  • Salaried individuals, self-employed and professionals can apply for a marriage loan.
  • You need to have a good credit score.
  • You will need to submit all requisite documents including valid identity proof, address proof, age proof, and financial proof.

Gold Loan for Weddings

In case you do not qualify for a personal marriage loan due to various reasons, such as unemployment, low business income or a poor credit score, you can still have your dream wedding by taking out a gold loan. If you have sufficient gold assets, you can pledge these to get a loan.

A gold loan only requires you to complete basic KYC verification. No credit score required or proof of income. It is a convenient, hassle-free and smart way to finance your wedding.

With Rupeek’s gold loan facilities, you can avail high loan-to-value ratio for your gold assets at minimum interest rates, flexible tenure, and from the convenience of your home. It is the ideal way to obtain finance for marriage and celebrate the best day of your life.

Apply for

Instant Gold Loan

in 30 Minutes Guaranteed

Please provide a valid phone number


Your Loan Request Successfully

Your request has been received, Our customer relationship manager has Been notified and call you shortly.