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Marriage Loan: Top 5 points to keep in mind while opting for this credit line

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We all know how grand Indian weddings can be. Everybody loves to marry a huge celebration with their friends and family. But these fancy affairs get expensive and no matter how much you plan, you will always fall short on money. A lot of people in India opt for loans to sponsor their weddings and this is very common. Personal loan can be a huge savior in such situations.

Before opting for any sorts of loan keep in mind the following points:

1)  Save in advance: Going all out and taking the loan for the entire wedding is not advisable. It can be financially harmful. Save up as much as you can and then take a loan for another requirement. Doing this will lower your interest rates, as well as the duration, which will be shorter. The EMIs will be lesser too.

2)  Make a budget: Making a budget and following it can be a task. But it is required, you can’t keep on spending without having a track. The track even the smallest of expenses.

3)  Shop smart: Usually weddings are pre-planned for months. This gives a lot of time to shop in advance at better rates. Wedding essentials like clothes, jewelry, gifts can be bought at discounted rates during sales to save up money. This is the ideal way to save a lot of money on almost the required things.

4)  Cash loan: If you want to opt for a loan with a hassle-free process, it’s best to opt for a personal loan app like CASHe. The entire process is private and the reason for taking a loan remains between you and the app. You don’t need to visit any bank or branch; the application process can be done via the app from your home or office. You can take a personal loan starting from Rs. 10000 up to Rs. 2 lakhs. The disbursal process is quite fast, once the loan is approved the amount is directly transferred into your personal savings account.

5)  Choose the lender carefully: Don’t opt for multiple lenders, this can be overwhelming as well as you will end up paying more interest. Do the research and find the best deal for your requirements. If you are a salaried employee, you can avail of a loan from a personal loan app. You can easily research it online and get all the necessary details.

Weddings are important and are one of the best days of everybody’s life but taking a loan responsibly is also critical. Evaluate the EMIs and the interest rate before you opt for a loan. Check whether you will be able to pay the EMIs on time without hampering your credit scores.

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