Marriage is an important day in our lives and obviously, on our marriage day, we tend to spend a lot to make it memorable forever. After all, you are not going to get married every year. Your marriage would come once in your life, or it is supposed to be, and it is no wrong if your extra enthusiasm pushes your financial limits.
Marriages in Delhi are elaborate and lavish and therefore facing financial constraint is natural. But how can you prepare the best for your marriage day and deal with the financial issues smoothly? Well, personal loans in Delhi can be your savior.
What are personal loans?
Personal loans are also known as unsecured debts. A personal loan is a kind of unsecured debt that helps you meet your emergency financial needs as fast as possible. In this kind of loans, the debt is not protected by a guarantor, or collateralized on any asset of the borrower but in case of forfeiture; the borrower has to face the condition as set in the agreement.
Generally, other forms of loans take a long time to get approved and sanctioned to the customer. These general loans are applicable when we require the money for a fixed purpose and thus, we apply for it months ago so to get the disbursed money during the appropriate time. But in personal loans, they require the very less time to sanction your requested money.
In personal loans, you don’t need to pledge any security or collateral while availing an unsecured debt and lender provides the facility of flexibility to spend the money wherever you need. Thus, it can provide a monetary solution for managing your wedding expenses. Wedding expenses are unexpectedly large to suffice among our limited financial capacity. And if you are planning to arrange a luxurious, elaborate big fat Indian wedding in Delhi, a personal loan can help you get rid of the lengthy list of bills.
In Delhi, you can easily apply for a personal loan in many banks and non-banking financial institutions, without any guarantor or collateral on any of your asset. These personal loans, popularly known as unsecured debts can be borrowed at a range between Rs. 15000 to Rs. 200000 and the borrower does not have to provide an answer to the lender as to where he is spending the money. The loans are only approved if the borrower meets few basic criteria such as individual’s income level, repayment capacity, credit, employment history and place of residence. Unlike the general loans like home, gold or car loans, unsecured do not need any collateral like an asset of the borrower to avail the personal loan. The loan is given solely on the trust of an individual’s history on credit. A good credit history would help you to get easy personal loan in a metro city.
Your savings are falling less for your wedding expense is not an unusual thing. In a metropolitan city, especially in Delhi, the living cost in Delhi is very high. Even with a handsome salary, the high living cost tends to spend more and save less. Especially in such high lifestyle circumstances, out of peer pressure, you need to buy to some lavish stuff which is way out of your pocket capacity. Personal loans in Delhi are the solution to it. All you need is to provide a good credit history, steady salary and proof that you can pay back. NBFC and few banks also ask for proof of years of employment, the company you work for and in some case a person who can vouch for your claim to be genuine. Analyze carefully and choose your bank to get an approved personal loan to arrange the wedding of your dreams.