3 Things to Consider Before Applying for a Tata Capital Personal Loan for Wedding - Personal Loan Blog - Tata Capital

3 Things to Consider Before Applying for a Tata Capital Personal Loan for Wedding

Feb 28, 2017

While planning your dream wedding, the biggest question in your mind would be how much money will be required for the perfect wedding. With the average cost of an Indian wedding estimated at INR 25 lakh, funding the same may cause a severe toll on your savings.

A wedding entails several expenses such as jewelry, catering, venue, gifts and much more. All this could lead to a strain on your finances. However, by carefully planning and opting for a personal loan for a wedding, you may be able to relieve this pressure and ensure you fulfill your dream wedding.

Here are three things you must consider before you avail of personal finance for a wedding.

1. Plan you budget

Clearly determining your budget before you start planning the wedding is the most important aspect. You must know how much you want to spend and how much you can afford even when you want to opt for a personal loan. To begin with, you must list down all the ceremonies related to your wedding. Furthermore, you must consider other expenses, such as your honeymoon, personal savings, and starting a family while making your budget. Making a realistic budget and adhering to it is very important to prevent financial troubles.

2. Review you finances

Once you plan the budget, the next step is to determine how to make the necessary financial arrangements. You must take into consideration the total wedding expenses and how much you have saved for your special day. Finally, you must consider the amount you will need to borrow in order to fund your dream wedding. Once you know the loan amount you require, you must accurately consider whether you will be able to repay the money on time or not. Moreover, you must determine how much time you will need to repay the borrowed amount without facing any financial difficulties.

3. Search for an affordable personal loan

If your credit score is good, availing of a personal loan for your wedding will not be difficult. However, it is important to find an affordable loan. You must conduct thorough research on the various lenders, interest rates, maximum loan amount, and loan tenure offered by them before making your decision. It is important to select a reliable institution like Tata Capital, the financial arm of Tata Group. Tata Capital personal loans are available at attractive interest rates for a longer duration of up to six years. Moreover, you may avail of a loan of maximum INR 15 lakh. This makes it easier for you to fulfill your dream wedding without depleting your savings.

Having your finances in place will make planning your special day stress-free. Opting for a reputed lender like Tata Capital will offer you the flexibility to repay the loan as per your convenience to maximize your benefits.