Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 31 Marriage Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.49% - 15.99% Fixed
    0.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    Fees & Charges
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    Customer Reviews
    10.99% - 19.8% Fixed
    Up to 2% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Paperless approval option available
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    Customer Reviews
    11.49% - 21.00% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
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    Customer Reviews
    13.99% - 16.99% Fixed
    0 One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless Approval Option Available
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    Eligibility Criteria
    10.99% - 17.99% Fixed
    2.25% (min. ₹1499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
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    Customer Reviews
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free INSTANT DECISION
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    12% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
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    10.70% - 11.70% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time Within 30 minutes
    Guarantor Required Paperless approval option available
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    14% - 33% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
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    Eligibility Criteria
    11% - 16.49% Fixed
    Up to 2.5%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
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    Perks
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    Customer Reviews
    11.75% - 13.75% Fixed
    1% One time fee
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
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    Marriage Loan is Rated as "Great!" by 77152 Users

    Fees & Charges

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    Customer Service

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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.

    Personal Loan Offers

    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

    • Standard Chartered Bank Personal Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      The Standard charted bank offered me a best rate in regards to my personal loan with the lowest charges. The customer service and the response is average with SCB. They have disbursed the loan within 5 days of time, they made it within the promised time. The required loan amount has been disbursed and I am satisfied with the loan amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      Basically I have got a text message from HDFC bank to get the personal loan with 11.99 % interest rate, but later when I approached them they have increased the rate of interest upto 12.99% , in case if we need a higher loan amount. The customer service and the response is very much average with HDFC bank. The Hdfc bank need to stick on to their promises.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • Citibank Personal Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      I got the personal loan within 55 hours of time from Citibank. They have disbursed the loan after submitting my documents. The customer service and the response with CITIBANK is average. The required loan amount has been disbursed. The rate of interest is low when compared with others. I am satisfied with the Citibank service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • Standard Chartered Bank Personal Loan
      "Loan rejection"
      0.5 1.5/5 "Bad"
      My personal loan rejected due my resistant address in out of city but i am 7 years customer in SCB bank so pls make loan for out of city customers because this is my salary account so please arrange loan our of city customers otherwise bank is so good and the best think is working time 24*7 this so good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Nice"
      0.5 5.0/5 "Blown Away!"
      The response at Bankbazaar was good and I was contacted on time. The customer services was perfect as they explained all the details to me clearly and processed my information to the banks on time. There were follow up calls too and in all no hassles.
      Was this review helpful? 0
      , chilakaluripet
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Satisfactory service"
      0.5 5.0/5 "Blown Away!"
      I know bank bazaar for past one year. I know about bank-bazaar through google web search. The customer service and the response is very good with bank bazaar. The website with bank-bazaar is easy to use and user friendly. I would like to say bank bazaar gives satisfactory service to the customers.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I haven't got the ICICI bank personal loan, because the executive asked to apply for the loan after 3 months, based on my profile I had a Cheque bounce in my previous product. The customer service and the response is very good with ICICI bank. The rate of interest is nominal with ICICI.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      I got response well within the time frame from bank bazaar and the bank partner. The customer service and the response is really good with bank bazaar. I get to know about bank bazaar through a referral. I am with bank bazaar for past 2 months. The website of bank bazaar is easy to use and customer friendly. I am satisfied with bank bazaar with the service rendered by bankbazaar.com.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • Citibank Personal Loan
      "Rate of interest can be decreased in future"
      0.5 4.5/5 "Excellent!"
      I didn't have any kind of relationship with Citibank so far but I have applied personal loan with Citibank for the first time and I found that they were offering the loan with high rate of interest, so that was the reason I haven't got the loan with CITIBANK. The customer service and the response was good with Citibank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Excellent Service"
      0.5 4.0/5 "Great!"
      Through Advertisements I came to know about bank bazaar. The bank bazaar user interface is really good and bank bazaar website helps us to decide to get the financial products with the best rates in the market. The customer service and the response with bank bazaar is really good. The website with bank bazaar is easy to use and user friendly. I am satisfied with bank bazaar service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      ICICI bank personal loan was rejected but then they haven't revealed the reason why it got rejected. The customer service and the response need to be transparent in future with ICICI bank. The rate of interest is nominal with ICICI bank. I would say ICICI bank gave a average service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The Response part is very good with bank bazaar , so that was the reason I gave top rating . I get to know about bank bazaar through a friend referral. I am with bank bazaar for past 5 months. The website with bank bazaar is easy to use and user friendly. I would say I am satisfied with bank bazaar service.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I haven't received the personal loan from ICICI bank, the ICICI executives has told that I have already held up with certain EMI with other products, so that was the reason I haven't got the personal loan with ICICI bank. The customer service and the response part is good with ICICI bank. The rate of interest is low when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The customer service rendered by bank bazaar is very good. The way they approach their customers is really good. The explanation given by their executives was really good. I got to know about bank bazaar through google web search. The website of bank bazaar is easy to use and user friendly. In short, I would say bank bazaar offered me a satisfactory service.
      Was this review helpful? 0
      , thanjavur
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      At the start when I approached ICICI bank there was no job stability and that was the prime reason why my personal loan application has been closed. The customer service and the response was good with ICICI bank. The rate of interest is nominal with ICICI bank. I would say ICICI bank offered me a satisfactory service.
      Was this review helpful? 0
      , thanjavur
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Nice Service"
      0.5 4.5/5 "Excellent!"
      I had received proper followups and updates from bankbazaar. They provide a good financial service. Recently I sought their assistance in taking the personal loan. For the service, I got good response from them and they have good web portal to apply for the loan.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Better Service"
      0.5 3.5/5 "Pretty good"
      Right from day one I had received a good response from ICICI bank on my personal loan request. ICICI was good in terms of customer service and responsiveness. I never faced any kind of issues with the bank but, I did not take the loan due to the personal issues.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Good Response"
      0.5 5.0/5 "Blown Away!"
      I have got a fairly good services from bankbazaar. They provided a good response on my loan application. I am happy with their way of response and their customer service. I found that the website is good to handle and it is very informative. In all, it is good enough.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • IndusInd Bank Personal Loan
      "Good Response"
      0.5 5.0/5 "Blown Away!"
      I preferred Indusind bank for the personal loan, hence I applied for the loan through third party online source. But I just postponed my plan so I did not take the loan. I had received good response and service from the bank for my loan application.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "its easy"
      0.5 4.0/5 "Great!"
      Nice, its very easy to get loan but intrest rates so high. But its OK. In emergency's nothing worried and burdening in banks. Simply applicable from home in just few SEC's.. Its very use full to me. But its good in iff other language provide( Hindi or Kannada). Good web site, good response, good service..
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
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