Personal Loan for Marriage
A wedding is one of the most significant events in one's life, and in India, it often involves considerable expenses. From lavish venues and intricate decorations to gifts and elaborate catering, wedding costs can quickly escalate. Unity Small Finance Bank offers personal loans tailored to help you manage these expenses with ease. With flexible repayment options and no requirement for collateral, a personal loan can make your dream wedding a reality without the financial stress.
Why Consider a Personal Loan for Marriage?
Weddings in India can range from intimate ceremonies to lavish affairs, with expenses fluctuating depending on factors like the number of guests, location, and cultural traditions. On average, an Indian wedding costs between ₹10 lakh to ₹25 lakh, while high-end or destination weddings can easily exceed ₹50 lakh. Major expenses include venue bookings, catering (which can range from ₹600 to ₹1,000 per plate), bridal attire, jewelry, and photography, which alone can cost around ₹50,000 per day. While some families may have saved up for these events, many choose to seek financial assistance. Unity Small Finance Bank’s personal loan for marriage, offering up to ₹5 lakh, can provide targeted support for key expenses, helping you manage immediate costs like venue deposits or other high-priority wedding essentials. This loan allows you to keep your savings intact while ensuring you can fund crucial parts of your special day without stress
Why Consider a Personal Loan for Marriage?
Financing a wedding through a personal loan offers several advantages. Unlike traditional loans that may be tied to specific purchases or services, a personal loan provides the freedom to use the funds for any wedding-related expense. Whether it's paying for the venue, purchasing jewelry, or covering honeymoon costs, you can allocate the loan amount as needed. Additionally, Unity Small Finance Bank’s personal loan for marriage comes without the need for collateral, making it accessible to a wide range of borrowers. The quick disbursal process also ensures that you can handle any last-minute wedding costs efficiently
Features and Benefits of Personal Loan
Customizable Repayment Tenure
Choose repayment terms ranging from 6 to 36 months, making the loan easy to repay
Flexible Loan Amount
Borrow anywhere between ₹50,000 to ₹5,00,000 depending on your wedding expenses
Quick Disbursal
Get access to the funds quickly to meet immediate wedding needs
No Collateral
No need to pledge your property
or any other assets
Attractive Interest Rates
Enjoy interest rates between 16% to 30%, tailored to your credit profile and loan amount
Minimal Documentation
A simple, streamlined process with basic documents such as KYC and income proof
Eligibility Criteria for Marriage Loan
To apply for a personal loan for marriage from Unity Small Finance Bank, you must meet the following criteria
Documents required
- Proof of Identity: Aadhar Card, PAN Card
- Address Proof: Utility bills, rental agreements, or any government-issued document
- Income Proof: Salary slips for salaried individuals or bank statements and GST number for self-employed
- Bank Statements: Recent bank statements showcasing your income and financial standing
Fees & GST Charges Personal Loan for Marriage
Understanding the fees and charges associated with your loan is crucial for effective financial planning
| Fee Type | Amount |
|---|---|
| Processing Fee | 3% of the loan amount |
| Prepayment & Foreclosure | 4% on the outstanding amount if the loan is repaid early |
| Late Payment Fee | ₹500 + GST per missed EMI |
How To Apply for a Personal Loan for Marriage?
1
Check Eligibility
Ensure you meet Unity Small Finance Bank’s criteria for income, age, and credit score
2
Estimate Your EMI
Use the EMI calculator to determine a suitable loan amount and repayment tenure
3
Submit Your Documents
Prepare all necessary documents, including identification, income proof, and bank statements
4
Apply Online or In-Branch
Complete your application either online or by visiting a Unity Bank branch
5
Disbursement
Once approved, the funds are swiftly credited to your account to cover your wedding expenses
EMI Calculator
Planning your repayment is crucial. Use Unity Small Finance Bank’s EMI calculator to estimate your monthly outgo. Simply input the loan amount, interest rate, and tenure to get an accurate breakdown of your EMI, helping you choose a loan structure that fits your budget
Tip: Use the EMI calculator to find the right loan amount and tenure for affordable monthly payments.
Type of Deposit
Deposit amount
Tenure
Start Date
Are you a Senior Citizen?
Amount on maturity
@
8.5%
interest rate *
Invested amount
Total earnings
Maturity Date
Conclusion
With a personal loan for marriage from Unity Small Finance Bank, you can focus on celebrating your big day without financial stress. The loan’s quick approval, flexible repayment options, and competitive interest rates make it an ideal solution for covering wedding-related costs. Whether it’s a grand celebration or a more intimate affair, Unity Small Finance Bank ensures that your wedding plans go smoothly
