All You Need to Know about Planning Destination Weddings


Do you have a “wedding wish list”? The dreamy fairytale wedding with all the glitter and glint? It can all be possible with a few quick processes. Here comes the destination wedding loan. Wedding loans are so common; they’re meant to help with all sorts of money issues. They cover all the expenses. Catering, decor, hotels & stay, post-wedding expenses etc.

What is a wedding loan?

To help people cover their wedding costs, several financial firms offer “marriage loans.”  These are comparable to the rates on risky personal loans. Every consumer can receive a personal loan. Even those who cannot find a bank or NBFC that offers marriage loans. Personal loans are offered at interest rates between 10% and 20%. One can take out a destination wedding loan for up to Rs 40 lakh for a period of up to 5 years. But some firms provide personal loans with longer payback terms. They also give lower interest rates. Pre-approved, immediate loans are available.  Some lenders disburse loans quickly.

Customer-friendly features of a marriage loan include a range of convenient EMI repayment terms and a forgiving loan term length. You can apply for and receive your funds quickly and easily online. This allows you to keep your attention where it needs to be: on your upcoming nuptials.

Points to be noted while taking a wedding loan 

The need to opt for a destination wedding loan may differ from person to person. Each lender may have its own set of requirements. However, here are some of the most common points:

Age proof

In most cases, applicants don’t have to present separate proof of age if their ID and address evidence already include their date of birth. If candidates’ ages are not included in the above documents, they may submit any of the alternatives listed below.

  • Graduation documentation
  • Proof of parentage document
  • Pan card

Lower age limit

To be eligible for a marriage loan, a potential borrower must be at least 21 years old. One requirement of several loan companies is that the bride or groom be at least 23 years old.

Upper age limit

Marriage loan candidates who are salaried should be no older than 58, and those who are self-employed should be no older than 65.

Lowest acceptable monthly net income

Destination wedding loans typically have a minimum income criterion of Rs.15,000, while some lenders may set that at Rs.25,000. The minimum income may change based on the applicant’s present city, age, etc.

Types of employment 

Anyone with a steady source of income, including those who are salaried, self-employed, or in the professional sector, can apply for a marriage loan.

  • Salaried Employee

Successful applicants for marriage loans will have established incomes. To qualify for a marriage loan, salaried individuals must have been employed for a total of at least 2 years, with the same employer.

  • Self-Employed person

You need to submit your most recent six months of primary bank statements as well as your last two years’ worth of tax returns, profit and loss statements, and balance sheets.

Credit Rating

Lenders favour borrowers with a CIBIL score of 700 or above. It is possible for borrowers with a poor CIBIL score to qualify for a marriage loan, albeit they may have to pay a higher interest rate.

Borrowing capacity

The maximum amount of money that can be borrowed for a wedding can change from one lender to other. It is also influenced by other elements like the couple’s ability to make payments, their income, their credit history, and so on. However, the amount you can borrow will be between 50,000 and 25,000,000.

Valid identity documents

When applying for the destination wedding loan, borrowers can provide any of the following forms of proof:

  • Valid voter card
  • Passport
  • Pan card
  • Aadhar card
  • Driving licence

Acceptable residence proof

The following items may be used to verify your residence to secure a marriage loan:

  • Driving license
  • Valid travel documents
  • Aadhar card
  • Telephone, electric, and water bills
  • Rent agreement
  • Election identification document

Perks of a marriage loan

Immediately accepted

It takes no time to get approval for a wedding loan. The verification of your documents may just take a few minutes. Then your loan application will be authorised.

Modular payment plan

Borrowers who take advantage of the flexible repayment option can select a tenor that suits their needs, typically falling within the range of 12-60 months.

Large-scale credit

Destination wedding loans are available from 50,000 up to 25.0 million, so you won’t have to skimp on any of the finer details.

Conditional acceptance of an offer

When you have so much on your plate with all the other aspects of preparing a wedding, why stress over finances any further? Pre-approved offers provide the best opportunity to save money on wedding loans.

Online access

Your loan repayment schedule and other loan details are available in the lenders’ online client portal. You can access it anytime, anywhere, 24 hours a day, seven days a week.

Points to consider before taking a personal loan for a destination wedding

  • Having a concrete strategy in place for your wedding will always help. The budget will help you manage your financial duties.
  • How much EMI you can afford depends on your monthly salary.
  • Check out the finest loan deals from many providers.
  • Avoid getting into serious debt by carefully planning your wedding budget.


The joy of a destination wedding is very unique. A wedding is a very special event. The costs associated with weddings may add up quickly! Without a doubt, you want this day to be memorable. Thus having a wedding loan to cover the cost helps. The days of a small, intimate wedding on a single day are long gone. In the modern wedding planning process, no detail is overlooked. But you should not worry about not having enough money to pay for a lavish wedding ceremony and reception. Apply for a personal loan online for a wedding today and have the funds deposited into your account tomorrow. Visit the Piramal Finance website to know more about the wedding loan.