Personal Loan for your Microwedding Plan

When we talk about any Indian wedding we always associate it with a Big Fat Indian Wedding. The more the merrier is no more the trend with Indian weddings, gradually people are getting into culture where very few guests are invited over, and the money gets diverted to plan a better destination wedding with fewer guests making your D-Day a special one. The other set of people plan microweddings to cut down cost of their wedding. So first of all let us see what microweddings are:

“Microwedding” as the name suggests is an intimate ceremony with a few near and dear ones. The major advantage of microwedding lies in the opportunity splash out on all the normal trimmings such as amazing venue, decorations, food drinks and cake all at a far lower price.

Microweddings usually fall somewhere between “Big Fat Indian Weddings” where the expenses are extravagant and “Getting Eloped” where there are no expenses at all of course apart from your runaway tickets. There is so much pressure from the society on the customs and traditions our Indian weddings are conducted, however the couples have not started that there are no rules and it is ultimately their wedding and therefore should be celebrated their way. Thus couples are nowadays planning their own weddings.
Breaking down the cost

An average amount of money spent on an Indian wedding would cost around Rs.10 lakhs. A person wanting to plan a microwedding can reduce the cost up to 5 Lakhs. Any salaried or self-employed individual can borrow personal loans up to Rs. 30 Lakhs depending on the eligibility of the borrower. These loans can be borrowed at the rate of interest starting from 10.85% p.a. for loan tenure up to 5 years. The processing fee for applying for Personal Loan is charged up to 2% of the principal amount, some banks also charge a lump-sum processing depending on the bank. While applying for a personal loan for your microwedding you must look in for a clause of Nil Fore-closure of your personal loan, this clause can save you a lot of money if you wish to fore-close your personal loan at any point of time during the loan tenure. You must keep in mind that your credit score should be very good if you wish to borrow personal loan from any leading financial organization at a low rate of interest. Having a poor credit score can lead to rejection of your personal loan application.

Conclusion:

Whether you wish to plan a Big Fat Indian Wedding or A Microwedding, what you need is money and a personal loan with low rate of interest is the right key towards a good financial planning of your wedding. It is advised to compare the personal loan offers before you finally borrow from any lending institution. Letzbank can help you avail the best personal loan at the lowest rate of interest within a matter of a few clicks. All you need to do is to visit www.letzbank.com, compare the personal loan offers and apply free of cost. Online applicants can cut down the cost of their microwedding further by applying online as there is no service fee charged for applicants who apply for personal loan online through Letzbank portal.

Main Category: Loans