Marriage Loan - Get Personal Loan for Wedding at Low Interest Rates

Compare Personal Loan Offers on Paisabazaar for Your Dream Wedding

HDFC Bank

Max. Loan Amt.

Up to ₹40L

Rate of Interest

10.9% - 24%

Tenure up to

Upto 6 Years

Processing Fee

₹6,500

10 Second Disbursal* 100% Digital Process* Quick Disbursal

Axis Bank

Max. Loan Amt.

Up to ₹10L

Rate of Interest

10.49% - 22%

Tenure up to

Upto 6 Years

Processing Fee

Upto 2%

Low Processing fee

Kotak Mahindra Bank

Max. Loan Amt.

Up to ₹35L

Rate of Interest

10.99% - 16.9%

Tenure up to

Upto 6 Years

Processing Fee

Upto 5%

Lowest Income requirement 100% Digital Process*

IDFC FIRST Bank

Max. Loan Amt.

Up to ₹10L

Rate of Interest

10.7% - 23.99%

Tenure up to

Upto 5 Years

Processing Fee

Upto 2%

Max Loan Amount 100% Digital Process*

ICICI Bank

Max. Loan Amt.

Up to ₹50L

Rate of Interest

10.8% - 16.5%

Tenure up to

1-6 Years

Processing Fee

Upto 2%

100% Digital Process* Quick Disbursal

Here’s How a Marriage Loan Can Help

Weddings are often grand and emotionally significant, but they can also come with high expenses. From venue bookings and catering to shopping for outfits, jewellery, and photography – costs can quickly add up. A marriage loan, which is a type of personal loan for wedding expenses, can help ease this financial burden. Top banks and NBFCs now offer wedding loans in India with quick loan disbursal and flexible repayment options, allowing you to celebrate your big day without compromising on your plans or draining your savings.

Key Highlights That Make Marriage Loans Worth It

Interest Rates: The interest rates of marriage loans usually start from 10.50% p.a. based on the applicant’s credit profile.
Loan Amount: The loan amount for marriage loans is usually up to Rs 40 lakhs, depending on the lender and your repayment capacity.
Repayment Tenure: Usually up to 5 years, while some PSU banks may offer longer tenures of up to 7 years.
Quick Disbursal: Most lenders offer instant or same-day disbursals to select customers.

Fees & Charges That Come With Your Wedding Loan

Processing Fees: Usually range from 0.5% to 4% of the loan amount
Late EMI payment charges: 1%-2% p.a. on the EMI overdue amount
Prepayment and Foreclosure Charges: 1%-5% of the outstanding loan amount
Stamp Duty Charges: As per actuals

Check Your Eligibility First

The eligibility criteria for marriage loans vary from lender to lender. Stated below are general requirements:

Age: Usually 21 to 60 years
Employment: Salaried or self-employed with stable income
Minimum monthly income for salaried: Rs 15,000
Minimum annual income for self-employed: Minimum Rs 3–5 lakh/year
Credit Score: Preferably 750 or above
Work Experience: Salaried employees working with MNC or private sector companies or PSU with an experience of minimum 1 year

Have These Documents in Hand

Stated below are the general documents required by most banks and NBFCs offering marriage loans:-

Identity Proof	PAN card and Aadhaar card
Income Proof	Salary slips, ITR, bank statements
Address proof	Aadhaar card, utility bill, rent agreement, etc.
Employment proof	Offer letter or ID card for salaried individuals

Think Before You Borrow: Smart Tips for Marriage Loans

Compare Interest Rates: Many lenders offer pre-approved loans to their customers at lower interest rates. To get your best personal loan for a wedding, compare interest rates and check for any pre-approved loan offers from banks you already have a relationship with.
Use EMI Calculator: Before opting for a loan for marriage expenses, use EMI calculators to determine your optimum loan tenure and EMI after factoring in their interest cost, repayment capacity and unavoidable financial goals.
Evaluate the Total Cost of the Loan: Know about prepayment fees or processing fees of your marriage loans, as these charges can increase the overall cost of availing a loan. Some lenders offer a waiver on processing fees during festive seasons.
Avoid Applying to Multiple Lenders within a Short Duration: Avoid applying to multiple lenders in a short time, as it can affect your credit score due to several hard inquiries. Instead, use online financial marketplaces like Paisabazaar to compare offers from multiple lenders.

Marriage Loan vs. Credit Card – Which is Better

While credit cards can be used for small, immediate expenses, a marriage loan is better suited for large-ticket costs. Marriage loans usually offer lower interest rates and flexible repayment options, making them a more cost-effective solution than revolving credit card debt. The interest rate on loans against credit cards is also usually higher than that on a regular personal loan or marriage loans.

Plan Your Dream Wedding with the Right Loan Amount
Rs 2 Lakh Personal Loan	Rs 10 Lakh Personal Loan
Rs 3 Lakh Personal Loan	Rs 1 Lakh Personal Loan
Rs 15 Lakh Personal Loan	Rs 50000 Personal Loan

FAQs on Marriage Loan

What is a Marriage Loan?

A marriage loan is a type of personal loan taken to cover wedding-related expenses such as venue bookings, catering, jewelry, attire, flowers and more.

How can I get money for marriage?

You can apply for a marriage loan from a bank, NBFC, or through Paisabazaar. The loan application approval depends on factors like your income, credit score, and repayment capacity.

Does SBI provide a Marriage Loan?

SBI offers personal loans that can be used for marriage expenses to applicants maintaining a salary account with SBI.

What is the interest rate for a personal loan for wedding?

The interest rate for a personal loan for a wedding usually starts at 10.50% p.a., while some PSU banks offer lower interest rates.

How much personal loan can I get for marriage?

The loan amounts for marriage loans are usually up to Rs 40 lakh, based on your eligibility. Lenders assess your monthly income, credit score, and existing financial obligations before finalising the loan amount.

Is it a good idea to take a loan for a wedding?

Taking a marriage loan can be a good option as it allows you to manage costs without using all your savings, provided the EMIs are based on your repayment capacity, you have a stable income, and you’ve compared interest rates and terms across lenders.

Which bank is best for a wedding loan?

Prospective applicants can compare multiple personal loan offers for marriage expenses on Paisabazaar to find the one that best suits their financial needs.

Can I get a wedding loan without salary slip?

For salaried applicants, most lenders require salary slips as proof of income. In case of the pre-approved personal loan offer, no documentation is required as the lender already has the income details. Self-employed applicants can avail wedding loans by providing income proof such as bank statements, Income Tax Returns (ITRs), or audited financials, depending on the lender’s policy.

How to apply for a marriage loan online?

You can apply directly on a bank’s/NBFC’s website or app or from Paisabazaar to compare and apply for marriage loans from multiple lenders.

What is the EMI for Rs 5 lakh marriage loan for 5 years?

Considering the interest rate of 11% p.a., the EMI for a Rs 5 lakh loan for 5 years would be around Rs 10,871. Applicants should use an EMI calculator to check EMIs for different interest rates, loan amounts and tenures.

Can I prepay my wedding loan?

Most lenders allow part or full prepayment of your marriage loan. Some lenders offer zero foreclosure charges (for instance, IDFC FIRST Bank – FIRSTmoney Wedding Loan) and some charge prepayment fees (usually up to 2%-5% of the outstanding loan amount) for fixed-rate loans.

Is a wedding loan available with low CIBIL score?

Lenders usually prefer applicants with a credit score of 750 and above. Some lenders also offer wedding loans to applicants with lower credit scores, usually at higher interest rates or lower amounts.