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Marriage Loan For Your Dream Wedding in India

Last Updated 01st May 2017

Marriage Loan Interest Rates in India May 2017

Most of the banks offer Personal Loans which can be utilized for your meeting your wedding expenses. Key features of these loans are:

  • Interest rate ranges from 11.29% to 19.00%
  • Loan Tenure ranges from 1-5 years
  • Flexible EMI and nil pre-payment charges options also available
  • Loans of up to Rs 20,00,000 available both for salaried and self employed customers
  • Quick processing and turnaround time of less than a week
  • Minimal paper work and documentation
  • Collateral free loans with no security or collateral required
Apply Personal Loan @ 10.99%*
Rs.
Rs.
+91

Interest Rates, EMI on Marriage Loan May 2017, Best rates

Bank Personal Loan Interest Rates* Lowest EMI per lakh for Max Tenure
HDFC Bank (4.2/5.0) 285 Users 11.00% - 20.00% Rs. 2,174 for 60 months Explore More Apply Now
SBI (3.4/5.0) 4 Users 12.50% - 16.60% Rs. 2,658 for 48 months Explore More Apply Now
ICICI Bank (4.2/5.0) 38 Users 11.59% - 22.00% Rs. 2,204 for 60 months Explore More Apply Now
Axis Bank (4.1/5.0) 50 Users 11.25% - 24.00% Rs. 2,187 for 60 months Explore More Apply Now
Bajaj Finserv (3.7/5.0) 38 Users 11.99% - 15.50% Rs. 2,224 for 60 months Explore More Apply Now
Standard Chartered Bank (4.1/5.0) 11 Users 11.49% - 20.00% Rs. 2,199 for 60 months Explore More Apply Now
IDFC Bank (4.6/5.0) 15 Users 11.49% - 19.50% Rs. 2,199 for 60 months Explore More Apply Now
Fullerton India (2.7/5.0) 4 Users 16.00% - 34.00% Rs. 2,834 for 48 months Explore More Apply Now
Kotak Bank (3.3/5.0) 11 Users 11.50% - 24.00% Rs. 2,199 for 60 months Explore More Apply Now
Citibank (4.2/5.0) 80 Users 10.99% - 16.49% Rs. 2,174 for 60 months Explore More Apply Now
IndusInd Bank (4.1/5.0) 37 Users 11.99% - 23.00% Rs. 2,224 for 60 months Explore More Apply Now
Bank of Maharashtra 15.10% - 15.10% Rs. 3,471 for 36 months Explore More Apply Now
Canara Bank 13.65% - 13.65% Rs. 2,715 for 48 months Explore More Apply Now
Dena Bank 13.00% - 14.00% Rs. 3,369 for 36 months Explore More Apply Now
Union Bank of India (3.3/5.0) 1 Users 14.40% - 14.40% Rs. 2,348 for 60 months Explore More Apply Now
Vijaya Bank 12.50% - 13.50% Rs. 2,250 for 60 months Explore More Apply Now
Yes Bank 11.99% - 20.00% Rs. 2,224 for 60 months Explore More Apply Now
RBL Bank (3.5/5.0) 1 Users 16.00% - 20.00% Rs. 2,432 for 60 months Explore More Apply Now
Tata Capital (4.5/5.0) 1 Users 13.00% - 18.00% Rs. 2,275 for 60 months Explore More Apply Now
Andhra Bank 13.05% - 14.30% Rs. 2,278 for 60 months Explore More Apply Now
Allahabad Bank 13.10% - 13.10% Rs. 2,280 for 60 months Explore More Apply Now
Corporation Bank 12.75% - 13.75% Rs. 3,357 for 36 months Explore More Apply Now
IDBI Bank 13.20% - 13.75% Rs. 2,286 for 60 months Explore More Apply Now
Indian Bank 14.50% - 17.00% Rs. 3,442 for 36 months Explore More Apply Now
Indian Overseas Bank 12.70% - 15.25% Rs. 2,260 for 60 months Explore More Apply Now
PNB 12.25% - 15.25% Rs. 2,237 for 60 months Explore More Apply Now
Karur Vysya Bank 13.90% - 16.40% Rs. 3,413 for 36 months Explore More Apply Now
Syndicate Bank 14.20% - 14.20% Rs. 2,337 for 60 months Explore More Apply Now
Federal Bank 13.32% - 15.12% Rs. 2,699 for 48 months Explore More Apply Now
Bank of Baroda 11.60% - 16.60% Rs. 3,302 for 36 months Explore More Apply Now

What is a Marriage Loan?

Marriages are made in heaven. And they are celebrated here in India like nowhere else in the world. Marriage marks one of the most joyful and memorable events for any individual. While marriage spends vary among people based on their tastes and spending capacity, most weddings overshoot the planned budget. Wedding loans are specially designed personal loans to efficiently finance marriage expenses with some of the popular schemes being:

  • Axis Bank Wedding Loan
  • ICICI Bank Personal Loan for Weddings
  • HDFC Personal Lifestyle Loan
  • Tata Capital Wedding Loan
  • Corp Shubh Vivah Scheme
  • SBI Saral Personal Loan
  • PNB Personal Loan

How do banks calculate marriage loan eligibility?

Loan eligibility on Wedding Loan or Personal Loan is dependent on your monthly income, rate of interest and loan tenure. Typically, EMI on an unsecured personal loan is limited to 35% of your take home salary excluding all other EMIs. Rate of interest is dependent on the following factors:

  • Your monthly income or take home income after deducting your fixed obligations and other EMIs to
  • Your credit history and your credit score. Typically banks look for a credit score of 750 and above for granting a personal loan
  • Your profession, as loans for salaried customers are offered personal loans at a lower rate than that of self employed professionals
  • Your company, where you work. Banks run special schemes attractive interest rates for large reputed corporate.

What are the key factors to keep in mind while going for a wedding loan?

Here are five useful tips that can help you, while planning to take a wedding loan:

  • Plan your wedding budget meticulously and estimate your loan requirement
  • Take a stock of your existing savings and monthly income to estimate the amount of EMIs that you can comfortably service
  • Compare your estimated loan requirement with the loan EMIs you can service and adjust the loan amount accordingly
  • Always compare offers from multiple banks on MyLoanCare to choose the offer most suitable for you. Remember that even if some banks do not offer special wedding loan schemes, they often extend personal loan for wedding. There can be significant savings in interest, processing fees and other charges by comparing and choosing the loan scheme carefully
  • Remember to follow a prudent approach while taking a decision to avail a personal loan as these loans come at high interest rates and any over the budget spend may land you in a financial soup

Why MyLoanCare???

Nowadays, banks give various offers on Marriage Loan to give the best rates to individuals. To get Marriage Loan with lowest interest rate and lowest EMI, compare new rates and offers of all banks at MyLoanCare. You can do rates comparison, check your eligibility, apply online and get the cheapest rate on Marriage Loan. MyLoanCare helps you throughout the loan process from the day you apply to the time you get complete disbursement. You can even track your loan status after getting registered with us. MyLoanCare make it easy for you to get hassle free Marriage Loan with ultimate cashback and refer and earn benefits. So, apply for Marriage Loan today and enjoy the benefits.


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