Home Finance Marriage Loans in India – All You Need to Know About it!

Marriage Loans in India – All You Need to Know About it!

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Marriages in India are no less than a festival. Friends and relatives gather to make it an unforgettable affair for the bride and groom. People often take personal loans to fund their wedding expenses and make it a splendid function. These are also known as wedding loans.

Let us take you through marriage loans in India in detail.

Understanding the Concept of Marriage Loans

While there is no particular loan as a marriage or wedding loan, people avail a personal loan to meet their needs. It is an excellent deal since a personal loan does not require collateral, and you can pay it back in easy installments.

Let’s delve into more details.

Benefits of a Wedding Loan 

For a grandeur wedding ceremony, you must shell out a lot of money. In addition, not everyone has such a large sum of cash at hand to pay for different expenses. A personal loan becomes a viable option for many reasons. Here are some:

  1. Quick Cash: You can apply for a personal loan and get approval within 24 hours, subject to eligibility criteria. Therefore, you do not have to face issues in preparations.
  2. High Loan Amount: You can get a loan of up to ₹25 lakh without collateral from certain NBFCs based on your income, credit score, and age.
  3. Easy Repayment: A personal loan for covering wedding expenses comes with lengthy and easy repayment options. It allows you to have your buffer period before starting to clear the loan.
  4. Apply Online: The tech advancements now let you apply online to avail a personal loan hassle-free.
  5. Personal Loan EMI Calculator: You can easily calculate EMIs based on the interest rate by using the EMI calculator.

Now, we will see the basic requirements for an individual to opt for a marriage loan.

Eligibility Criteria

Minimum age: Individuals should be aged at least 21 years. For some lenders, the minimum age required is 23 years.

Maximum age: A salaried individual should not exceed 58 years of age, and self-employed applicants should not be more than 65 years of age.

Minimum Net Monthly Income: The minimum income should be ₹15,000. However, some lenders require it to be ₹25,000. Also, the applicant’s current city, age may come into play as well.

Employment Type: Salaried, self-employed individuals and professionals are eligible if they fulfill the minimum income criteria.

Employment status: A steady source of income is necessary to get wedding loans. A salaried person should be working for at least two years and at least one year with the current employer.

Credit score: A CIBIL score of 750 and above is required.

Documents Required

For all:

  • Valid Photo Identity Proof – Voter’s ID, Passport, PAN Card, Aadhaar Card, etc.
  • Valid Address Proof – Driving License, Passport, Aadhaar Card, Rent Agreement, etc.
  • Valid Proof of Age – Birth Certificate, School Leaving Certificate

For Salaried Individuals:

  • Bank Statement
  • Form 16

For Self-Employed:

  • P&L Account
  • Balance Sheet
  • ITR Returns of last two years


The benefits of a personal loan make it a solid contender to be a helping hand. You can plan and prepare your wedding without worrying about expenditures. If you have an upcoming wedding at your home, you should indeed check out a personal loan option.

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