Your wedding is a significant milestone in your life. It brings with it a new set of responsibilities and financial obligations. Unless you have saved up beforehand and have a sound financial plan in place, you will notice that your spending has increased several-fold!
From the wedding ceremony itself to the associated shopping, from the costs of setting up a new home to your honeymoon in an exotic location — it all adds up!
As a newly married couple, you might have several dreams and aspirations requiring considerable money. For instance, you might want to decorate your home in a particular style. You might want to take trips for bonding and getting to know each other.
It is indeed ironic that in the few months right after your wedding when you would want to spend a bit of money, you’ll probably be broke. Chances are, you will have extinguished your savings on the wedding ceremony and the celebration leading up to it. What then, is the solution?
This is where personal loans can prove to be beneficial.
Personal Loans explained
Unlike home loans and car loans, Personal Loans are rarely earmarked for a specific purpose. It is one of the most flexible forms of credit available. From your wedding expenses to the price of an electronic item — a personal loan can cover it all!
Personal Loans are generally easy to get. Axis Bank Personal Loans, for instance, require no collateral. You can get a loan up to ₹40 lakhs, with personal loan interest rates starting from 10.49% per year.
Also Read: [Add to your family income with a Personal Loan]
Benefits of Personal Loans for newly married couples
Fund your wanderlust
As a newly married couple, you would want to travel, explore, eat good food and meet different people. Unfortunately, financial constraints can hold you back. In such a situation, you can always use a Personal Loan to cover the shortfall.
Fund the downpayment for your dream house
One of the main reasons why people get married is to start a family. But the downpayment required for your dream house can be out of reach.
Not to fret. You can use an Axis Bank Personal Loan to make this payment and then pay it back over flexible tenures of 12 to 60 months. You can also check out the Axis Bank Personal Loan eligibility and Personal Loan EMI calculator to better map your financial journey.
Summing Up
Flexible loan amounts, competitive interest rates, easy repayment options, and a hassle-free application process — the benefits of Personal Loans are galore. Use the easy credit to ease your way into starting your new life together with your spouse.
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision
