For parents with growing children, marriage is a primary concern, especially for a girl child. We all know that weddings are extensive affairs! With the excitement, comes immense pressure for sizeable finances. Hence, it holds inevitable importance to pre-plan wedding arrangements and then makes financial spending. If you’re still a bud, then it’s better to begin at the earliest and gather substantial amounts before the splendid event. Weddings take you forever to reach a perfect set-up which is why an earlier plan of action works well!
So how to have a personal loan for your daughter marriage immediately?
One recommended way is by taking on instant personal loans to meet the current and future needs. An unsecured loan like personal loans is given based on the individual’s past credit history, physical and financial assets and credit score (ability to repay on time). You can apply for a personal loan of your choice and review its interest rates and miscellaneous charges. The whole process is now online and easily accessible. Most prominent banks and financial institutions charge within a range of 10-35% interest on personal loans. This is fully dependent on the credit score of the individual and previous loan payments. Even if with a good score and timely IT returns, chances of default cannot be negated. Companies ask for your credit score, tax returns and six month’s salary slip can get you easy personal loans.
It would be highly unjust to mention banks alone. Better would be to have knowledge about NBFCs and all financial institutions per se. It is easily thought to get easy personal loans from NBFCs at lower interest rates. Presently, an instant personal loan can be availed at a rate between 10-15%. Quickly apply for an instant personal loan, fill up details and upload required documents to get an estimate of the loan amount and rate of interest. An instant personal loan relies upon the below-mentioned factors like:
- Income bracket
- Job stability
- professional experience
- line of product
- existing loans & EMIs
Along with the need for a personal loan, it is important to know how to qualify for an immediate personal loan. Whether you will have an instant loan or not will depend on the following:
- CIBIL Score: Personal loan is an unsecured loan, lending institutions rely on your credit score to gauge your repayment capacity. If your score is high, then the interest rate will be relatively lower.
- Tenure: The interest rate varies inversely with the loan amount. So when the tenure is longer, interest will be lower.
- Loan Amount: The loan amount has a direct connection with the interest rate. Higher the amount, higher the interest component.
- Eligibility Criteria: Eligibility for a personal loan depends on the age, profession, credit score, etc of the individual. However, the criteria could be a different lending institution so if you accept the eligibility criteria, then the interest rate will be much lower.
You can verify and compare the interest rate and other factors before arriving at a decision. Pick up the best offer out of different online aggregators. For quick and easy approval of your loan application apply through online aggregators.
Your daughter’s wedding is once in a lifetime affair. The package of marriage comes with a wholesome on the platter- excitement, action, and expenses. An instant personal loan will be the most compatible remedy for a heavy duty wedding. This instant money turns your special day into an extraordinary day. Home Credit assures you to find a loan package which replenishes your financial insufficiencies to make your wedding look way glorious!