With the wedding season going on in full swing, many families in India are busy with the preparations to ensure their sons and daughters tie in the knot in style. Apart from months of planning, Indian weddings come at a premium with skyrocketing costs of 5-star venues, designer jewellery and lehengas, celebrity performers, aerial photography and wedding favours that leave guests oohing and aahing.
To ensure that you don’t compromise on anything that takes away from the splendour and glamour of the big fat Indian wedding, the first step is to ensure your finances are in order. Tackle all your myriad expenses with ease with a wedding loan such as a Loan Against Property from reputed lenders like Bajaj Finserv.
As a salaried individual, you can get a loan of up to Rs.1 crore and in case you are a self-employed individual you can avail up to Rs.3.5 crore. A loan against property for wedding is a pocket-friendly solution as it is secured by the property you pledge and thus offers you a more competitive interest rate. The other loan against property features that makes it a good pick for organising a grand wedding includes its hassle-free loan disbursal timeline and process, its long and comfortable repayment tenor, andthe Flexi facility along with its easy balance transfer feature.
While you can transfer this mortgage loan from your existing lender to a more affordable lender with ease, you can also make the most of Bajaj Finserv’s Flexi facility that suits wedding expenses. This allows you to borrow from your total sanction in parts and pay interest only on what you actually use. This helps you address wedding expenses as they come your way without increasing your interest payments. It also helps you tackle last-minute wedding expenses, be it a delayed flight or an extra room, with convenience. You can also choose to pay interest-only EMIs to manage your cash flow during the wedding more easily and repay the principal at the end of the tenor.
While this loan makes easy work of handling big-ticket wedding expenses, here are some things you can finance with the loan against property in India.
- Book an Exotic Venue
Weddings are a once-in-a-lifetime opportunity to bring the entire family together from different parts of the world, meet friends and relatives that you rarely see, and celebrate a new beginning of the bride and groom with pomp and splendour. The right setting can make this occasion not only more enjoyable, but also provide a beautiful backdrop for all those photographs that will preserve your memories for the time to come. So, whether it is a landscaped garden in a 5-star venue in your hometown, an elite golf club with a ballroom, or both, you can now book the venues for different ceremonies without fretting about the cost using funds from a loan against property for weddings.
- Plan a Destination Wedding
The buzzword of modern weddings, destination weddings are the new normal in India. Brides and grooms today want a smaller wedding of less than 100 guests, but at a locale that they have a personal connection with or want to explore with all their friends and family. A destination wedding can be expensive as it involves transportation and hospitality for at least 3 nights. Be it a beautiful Swiss chalet, a rustic resort in Bali, or a villa property in the Key West, you can throw a lavish destination wedding that is sure to be remembered for ages by financing it with a wedding loan.
- Buy Designer Jewelry
Undeniably the centre of attraction of every wedding, the Indian bride needs to look the part with the dazzle and glitter of gold, platinum and precious stones. To purchase the finest jewellery from designers who are known to bring something unique and befitting to the table, you will need to pay higher making charges too. While some designers can even customise the jewellery to match your wedding wear or convert older heirloom pieces into modern baubles, you can ensure that the bride’s jewellery box is filled to brim by using funds from a loan against property to buy the best glitters for the special day.
- Create an Enviable Bridal Trousseau
From honeymoon outfits to resort wear, from saris and Indian wear for momentous occasions and festivals to casual wear, a bridal trousseau not only has everything sartorial that she needs to start her new life, but also includes the best accessories, shoes, makeup and perfumes. Give your daughter a free reign to select outfits and everything else she needs by financing a beautiful trousseau using funds from the loan against property designed for weddings.
Considering all these high-end expenses, availing a loan against property in India is a better solution than depleting your savings or cashing in your investments. Before applying for it, ensure that you match the loan against property eligibility criteria, have the required documents ready, and have planned your repayment too. Do remember to check your pre-approved offer to get immediate funds for your wedding celebrations. It will help you unlock customised deals and enjoy hassle-free approval so you can plan the perfect wedding.