If you want money for marriage, you can take marriage loan, know interest rate and eligibility
Growing up It is not easy for anyone to bear the expenses of marriage in this era of inflation. Due to the show, nowadays, a lot of money is being spent in weddings. In such a situation, it becomes very difficult to juggle money. In view of this problem of people, many banks like ICICI Bank are offering marriage loans to their customers. Let us know what is marriage loan and who can get it.
What is marriage loan?
Marriage loan is also called wedding loan. It is a type of personal loan, designed to help individuals who require funds to meet their weddings related expenses. Marriage covers loan decoration, jewelery, venue booking, catering, bride clothes and other expenses. ICICI Bank is offering collateral-free marriage loans up to ₹ 50 lakh to eligible applicants.
Interest rate
The interest rate on marriage loan starts at 10.85% per year. The duration of marriage loan can range from 12 months to 72 months. The age of applicants for this loan should be between 21 years and 58 years. If your credit score is good, you will get a good interest rate on this loan. People with regular income and self -employment people get this loan.
Take your marriage loan like this
Check eligibility
There are many such things that will set the eligibility for your marriage loan. For this, you go to the personal loan page of ICICI Bank.
Calculate EMI
If you are eligible for a loan, then calculate the EMI. You can use EMI calculator for this. This will make you know how much interest you will have to pay during the entire period.
Fill the application form
Now fill the application form for marriage loan. This application will be the basis of your complete interaction with the bank.
Upload documents
You will have to submit your ID card (Aadhaar card), PAN card, driving license, address proof, income certificate.
Verification
After submitting the document, ICICI Bank will verify your documents. If all the documents are correct, your loan will be approved.
Disabilities
If your application is approved, you will get a marriage loan ranging from Rs 50 thousand to Rs 50 lakh. Usually money comes to your account within 72 hours.
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