Multiple banks. Different interest rates. Call it a "conflict of interest".
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    Marriage Loan

    We found 32 Marriage Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 15.99% Fixed
    1% to 2.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Ad
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    Customer Reviews
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Ad
    What you'll love
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    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Ad INSTANT DECISION
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    Eligibility Criteria
    Customer Reviews
    11.99% - 19.50% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    13.99% - 16.99% Fixed
    1% - 2% One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.59% - 18.49% Fixed
    2.25% (min. ₹1149) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.85% - 11.85% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time Within 30 minutes
    Guarantor Required Paperless approval option available
    What you'll love
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 19.8% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.99% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    17.25% - 37% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.49% - 20.15% Fixed
    Up to 2%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.5% - 13.25% Fixed
    0 One time fee
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    Marriage Loan is Rated as "Great!" by 73978 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    Overview about Marriage Loan

    The big day youve been waiting for is approaching faster than you anticipated! In the rush of sorting out your food options, venue, sending out invitations and making sure your ex doesnt turn up, you may or may not have the time to plan out your finances.

    Perfect Personal Loan Deals for you

    True, youve been saving for this occasion for a while and have a sizeable amount kept aside, but is it enough? Or if you havent specifically saved for this occasion and are in dire need of funds, take a deep breath and relax “ because banks have got you covered!

    Banks today are lending custom, tailor-made personal loans called marriage loans to smoothen out any finance-related kinks you may have in your entire wedding scenario. As all Indians from any walk of life can testify, marriages here are magnificently elaborate, exuberant functions which compete with each other in terms of grandeur, opulence and luxury.

    In order to meet the rising need for œpersonalised personal loans, major banks and Non-Banking Finance Companies (NBFCs) like HDFC Bank, ICICI Bank, Tata Capital, State Bank of India, Axis Bank, Citibank, IDBI Bank, Punjab National Bank, Kotak Mahindra, Bank of Baroda, Capital First, etc. are rising to the challenge. Personal loans today refer to a rather wide variety of customized loan products including marriage loans, home renovation loans, business loans, education loans, medical emergency loans, etc.

    As we all know, personal loans today give the customer the benefit of not having to provide a guarantor, or any collateral, should the loan prove to be unrecoverable. Customers need not even give the bank a reason as to why they require the loan. This is a problem for the banks, as anyone could approach them for a loan without giving a reason for the same and turn out to be a defaulter. While your reasons could be totally under your discretion, it would instil in the bank a sense of faith in your ability to repay, if your reason for wanting the loan was to fund your marriage.

    Marriage Loan Eligibility Criteria

    To avail a Personal Loan for the purpose of funding your marriage, you must first see if you match the general eligibility criteria put forth by most banks. Your eligibility is dependent on a number of factors and criteria, a combination of which would not be the same for every applicant. This includes:

    • Minimum Age of 21 years (23 years for some banks).
    • Maximum Age of 58 years (for salaried employees) and 65 years (for self-employed persons). If youre getting married at this age, kudos to you, my friend!
    • Minimum Net Monthly Income “ Rs.15,000 in most cases, although the minimum income requirement could go up Rs.25,000. This depends on your current city, age, etc.
    • Employment Type “ Salaried employees, salaried professionals, self-employed persons.
    • Employment Status “ salaried employees and self-employed persons alike must be drawing regular income for a total of at least 2 years prior to applying for a marriage loan, and must be drawing regular income from the current employer or business for the last 1 full year.
    • Credit Score “ A CIBIL score upwards of 700 is preferred, although some banks have a minimum CIBIL requirement of 750. This score has a maximum cap of 900.
    • Maximum Loan Amount “ Rs.30 lakhs “ this is dependent on all the above factors including repayment capacity and existing loans with EMIs, etc. Usually loans are approved in the Rs.5 lakh to Rs.20 lakh range.

    It should be noted that different banks view these criteria differently, for example Bank A may not require you to be any older than 21 years, but may require a CIBIL score of 800, but Bank B may have a hard set rule that you must be at least 23 years old, but can have a CIBIL score of 700. The banks basically decide your eligibility and maximum loan amount by your ability to repay the same.

    Documentation required for a marriage loan

    Before banks and NBFCs approve or deny any loan application, they will require you to submit a full set of documents for their perusal. This set of documents contains information vital to the banks, to help identify you, your address, your employment details or business details, and eventually decide whether you will be able to repay the loan or not.

    A common set of documents must include:

    • Valid Proof of Identity. This can be ascertained by submitting any one or a combination of the following (in case one proof does not have a photo ID) registered, legal proofs of identity.
      • Passport.
      • Voters ID.
      • Permanent Driving License.
      • PAN Card.
      • Aadhar Card.
      • Photo Ration Card.
      • National Rural Employment Guarantee Act (NREGA) Job Card.
    • Valid Proof of Address. Fulfil this requirement by submitting any of the following documents.
      • Passport.
      • Voters ID.
      • Permanent Driving License.
      • Ration Card.
      • Electricity / Water / Telephone bill.
      • Domicile Certificate with address issued by the Municipal Corporation.
      • Registered Rent or Lease Agreement.
    • Proof of Age. Usually, you wont have to submit this separately. But in case your proof of ID does not have your age, you will have to submit one of the following:
      • Birth Certificate.
      • School leaving certificate.
      • PAN Card.
    • Financial Documents. These will go a long way in helping the bank decide whether you will be able to repay your loan on the agreed terms or not.
    • For salaried individuals “ Latest salary slip showing statutory deductions or Form 16 and salary account statements for the last 3 months.
    • For self-employed individuals “ Audited / certified financials (P&L Account and Balance Sheet) and Acknowledged IT returns for the last 2 years and Bank statement of the primary account for the last 6 months.
    • Loan Application Form. This is the form that you will fill in from the bank of your choice stating all the above details and the loan amount required, etc. This will be provided by the bank and all the details filled in will, in some way or the other, affect your maximum loan amount and eligibility.

    Interest rates on marriage loans

    Interest rates on personal loans and marriage loans vary between banks and your eligibility criteria. Not everyone will get the same loan at the same interest rate for the same tenure.

    General interest rates and charges for personal loans are as follows:

    • Interest Rate (Monthly reducing balance) “ 13.49% “ 34%.
    • Processing Fees “ 0.5% - 2.5%.
    • Loan tenure “ 1 year to 5 years.
    • Pre closure charges “ 2% - 5%.

    These rates are indicative of the general trend in personal marriage loans charges today.

    Features and Benefits of marriage loans

    Marriage loans are in most respects the same as personal loans, but are taken with the purpose of funding a marriage.

    • Easy repayment with EMIs most banks offer incredibly flexible and customer friendly EMIs, tenures and interest rates.
    • No guarantor required “ which means you wont have to bug anyone to come down and stand as guarantor to your loan, and the loans are approved without requirement of collateral, either. This means that no one will kick you out of your house if you fail to repay.
    • Loans are approved within 48 hours of application in most cases, and there have been reports of loans being approved the very next day, making this a strong and viable option for quick personal finance.
    • Credit Shield.
    • Disbursal in 2 days from approval. No more waiting for your money once your loan has been approved. Banks today are sending you the money within 2 days of accepting your loan application.
    • Flexible tenure options offered by banks from 12 months for those who wish to be done with the hassle of repayment early, to 48 and even 60 months for those who plan out their expenses more carefully.
    • Most banks today provide personal accident insurance cover with their personal loan products.
    • Customizable plans, rates and schedules depending on the customer. Banks today work with you for mutual benefit.
    • Fulfil your dreams today, and repay what you owe, as you grow.
    • Pre-payment facilities on offer enable you to clear your entire outstanding loan balance after the minimum pre-communicated number of days have passed (usually 180 days).
    • Marriage loans are a type of personal loan that is easier to acquire than the others. Banks generally undertake a huge amount of risk when the reasons for the loan are not mentioned, but can relax in case of a marriage loan as there is an inherent trustworthiness in family functions.

    Frequently asked questions about marriage loans

    What category of loans does œmarriage loan fall under?

    Marriage loans are basically a type of personal loan. Think of your loan as a personal loan, but for the purpose of funding your marriage.

    Does everyone get the same loan amount, interest rate and tenure since its a purpose-directed loan?

    No, despite everyone takes the loan for a specific purpose, the loan amounts that get approved vary from one another and are dependent on a lot of factors.

    What are the factors upon which the loan amount depends?

    Your loan amount that eventually gets approved or denied, depends on your age, net monthly income, employment type (salaried, self-employed, salaried professionals), employment status (term of employment, employability, etc.), CIBIL credit score, existing EMIs being paid, and in general, your ability to repay.

    What are the documents that the bank or NBFC will ask for?

    The bank will require your proof of ID (with photograph), proof of address and proof of income.

    Do any major banks offer marriage loans?

    Most major banks and NBFCs in India offer marriage loans, like Punjab National Bank, ICICI Bank, State Bank of India, Citibank, IDBI Bank, Kotak Mahindra, HDFC Bank, Bank of Baroda, Capital First, Tata Capital, Axis Bank among many more.

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  • Marriage Loan Reviews

    • HDFC Bank Personal Loan
      "Need to improve in services"
      0.5 1.0/5 "Really Bad"
      My personal loan is from HDFC Bank and the services has not been up to the mark. They need to know how to handle a customer and how to communicate as well. The team has to be more professional. The interest rate and charges is not a concern but the services is not satisfactory.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2017
    • Bank Bazaar Customer Support
      "One stop solution for the financial products"
      0.5 4.0/5 "Great!"
      If any body is in need of any kind of financial products, they can go visit the bankbazaar web site, which really helps the customer to get the financial products with the best rates in the market. The web portal with bankbazaar is easy to understand and very easy to use and customer friendly portal, because it has designed in a simple way. Overall I am happy with the bankbazaar.com service.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 25, 2017
    • Fullerton Personal Loan
      "Good and excellent"
      0.5 3.0/5 "Satisfactory"
      I haven't received any kind of status updation about my personal loan application. They have made a call and explained me about the product, after that they have not informed that why my loan got canceled. I would suggest Fullerton can work customer centric in future. Overall I can say I am satisfied with the service.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 25, 2017
    • Karur Vysya Bank Personal Loan
      "The best service"
      0.5 5.0/5 "Blown Away!"
      Karur Vysya Bank offered me the personal loan. The documentation part was very simple, they asked me the documents which was easy to produce. I submitted form16, last six month bank statement and salary certificate along with the signature of my institute. Hardly they had taken four days, they delivered such a fast service. I felt easy to go with Karur Vysya Bank. They are good enough.
      Was this review helpful? 0
      , erode
      Reviewed on May 25, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 4.0/5 "Great!"
      When I visited bankbazaar website I found easy to apply for the loan over there. The moment I submitted my loan application, I received calls from them and they were good in providing proper response for my loan application. I had no issues with bankbazaar as I received regular calls from them.
      Was this review helpful? 0
      , erode
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Not Satisfied"
      0.5 1.0/5 "Really Bad"
      I preferred ICICI bank for the personal loan. But the bank demanded me to provide salary payslip which I could not produce so I had to close the loan application with ICICI bank. But I got the loan from Karur Vysya bank. ICICI should have been provided alternate options for the documents.
      Was this review helpful? 0
      , erode
      Reviewed on May 25, 2017
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      HDFC Bank personal loan is fine, There is no drawback till now. There is no issues or challenges with them as such. They dint ask for too many documents for loan processing.The loan amount I have opted for 98 thousand and the rate of interest is 12.15% processing fee and charges 2400.
      Was this review helpful? 0
      , pune
      Reviewed on May 25, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 4.0/5 "Great!"
      The services at Bankbazaar has been excellent, a quick process and the website is very helpful. There were no hassles in getting information about the banks and the offers and it was overall a very good experience. The follow up calls are satisfactory too
      Was this review helpful? 0
      , pune
      Reviewed on May 25, 2017
    • Fullerton Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I did get a proper response from Fullerton after me applying for a personal loan They were on time to contact me and give me details. I did not wish to go ahead for the loan as the rate of interest and processing charges was very high from them but no other option I had taken with them with 22% Rate of Interest.
      Was this review helpful? 0
      , pune
      Reviewed on May 25, 2017
    • Bank Bazaar Customer Support
      "Very good in services"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar surely needs a five stars as they were excellent in the process. The response was very much immediate and I am happy that with just a click away I was able to get connected to the banks and also get details of the same in one single page.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2017
    • Standard Chartered Bank Personal Loan
      "Nice experience"
      0.5 4.0/5 "Great!"
      Standard Chartered bank was good and on time to give me details on the personal loan. I also like the turn around time. It was a nice experience. I could not go ahead because of the changes in my personal requirement. The overall experience was good and the deal was decent on the interest rate.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2017
    • Bank Bazaar Customer Support
      "Fair enough"
      0.5 4.0/5 "Great!"
      I am aware about bankbazaar.com through promotional mails. I use bankbazaar web portal which is easy to use and user friendly. The mobile application with bankbazaar.com is working very well, therefore it is convenient for one to apply for any product. Overall I am satisfied with bank bazaar service.
      Was this review helpful? 0
      , chennai
      Reviewed on May 25, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The service was not bad with HDFC on my personal loan. They gave prompt response on my personal loan application. The interest rate was on the higher side. They took around 1 week to disburse my personal loan.I can say the whole Loan process just took a week time. Overall I am satisfied with the HDFC service.
      Was this review helpful? 0
      , chennai
      Reviewed on May 25, 2017
    • Bank Bazaar Customer Support
      "Good financial advisor"
      0.5 5.0/5 "Blown Away!"
      Every service of Bank Bazaar is good, they completely taking initiative on the customer's request. The website and the mobile application is convenient to check all the financial products and its very useful to check the credit score without any hassles.
      Was this review helpful? 0
      , aurangabad
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Its Average"
      0.5 1.0/5 "Really Bad"
      I have submitted all the documents to the bank, but process was not completed. I was staying in malkapur location it was not there in their system. Hence they have rejected the application and they didn't give any other option to take personal loan.
      Was this review helpful? 0
      , aurangabad
      Reviewed on May 25, 2017
    • Bank Bazaar Customer Support
      "Easiest web portal"
      0.5 3.0/5 "Satisfactory"
      Bankbazaar website is good and it is quite easy to navigate. It is like having all things in one basket so it was very easy to check all the banks and its interest rate and other charges. Also easy to apply for the loan on bankbazaar web portal.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 25, 2017
    • Tata capital Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Actually I had not submitted the required documents to Tata capital to avail the personal loan, therefore my loan application was closed. Other than that Tata capital was quite good in providing response. I do not recall anything about the rate of interest.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 25, 2017
    • HDFC Bank Personal Loan
      "Nice experience"
      0.5 4.0/5 "Great!"
      I had taken my personal loan from HDFC Bank and they followed up well on my application. When I was busy and have asked them to call me back, they would willing do so at the time I asked them too. The offer on the interest rate and charges was also good.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2017
    • Bank Bazaar Customer Support
      "Good services"
      0.5 4.0/5 "Great!"
      I am happy with Bankbazaar as they were very much responsive to my application. They were often contacting me and checked if my application with the bank is on track. The website is good and I appreciate the follow up calls which was done on a regular basis.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2017
    • Bank Bazaar Customer Support
      "Supportive Service"
      0.5 4.0/5 "Great!"
      Bankbazaar services are quite good and approachable. They immediately contacted me on my loan application. I got a suggestions on the bank according to my loan requirement and my application had been assigned to the bank without any delay. I got regular followups and updates from Bankbazaar.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2017
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