While the recession-proof marriage industry touches $50 billion, it is considered second only to that of the US industry. This sector is yet to witness a substantial boost of 20-25% annually across the coming few years. Such escalated expenditures in weddings can strain one’s life’s savings.
In an attempt to avoid this draining of finances, multiple reputed financiers now offer wedding loan against property. Such credits require the mortgage of a property that has high market value to obtain a high Loan to Value of 60-70%.
Additionally, these credits come with multiple lucrative features that are customized to finance wedding expenses –
Benefits of Loan Against Property for a Wedding
# High-Value Loan Amount – A wedding loan against property from reputed financiers comes with a credit amount of up to Rs.3.5 crore.
# No End-Usage Restrictions – The availed credit amount comes with no end-usage restrictions and can be used to finance diverse expenses involved in a wedding –
- Book venues.
- Appoint a wedding planner.
- Plan a destination wedding, etc.
# Easy Application Procedure – Keeping in mind the convenience of potential applicants, financiers streamline the application procedure by limiting the basic eligibility criteria and documentation to a minimum.
Add on to these the benefit of a convenient repayment process owing to extended tenor and competitive rate of interest.
Taking into account such benefits that come with a loan against property for wedding, such credits are the most preferred by individuals.
