Login

Are you ready for an upgrade?

Login to the new experience with best features and services

Login to Internet banking

Help Center Support topics, Contact us, FAQs and more

Notifications

  • As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.

  • Activate your Credit Card within minutes and enjoy unlimited benefits

    Know More

  • One FASTag, three payments:Toll, fuel and parking

    The only FASTag with triple benefits

    Apply Now

FinFIRST Blogs

Select a topic
Apply Now

Personal Loan

Love is priceless, but destination weddings need a personal loan

19 Apr 2025 by Team FinFIRST
marriage
Apply Now

Big, fat Indian weddings are usually a once-in-a-lifetime affair. To make it memorable, couples plan the celebrations to the minutest possible details. Most couples want a fairytale wedding to remember for years to come.

But a fairytale wedding is a costly affair. Wedding expenses involve -

  1. Venue booking
  2. Catering
  3. Trousseau shopping
  4. Gifts
  5. Hiring a wedding planner and much more

All these expenses add up to a considerable sum. How do couples fund the wedding ceremony?

The answer is simple - through a personal loan!

According to a survey conducted among 1200 millennials, 26% of self-funded couples considered opting for personal loans for wedding planning. But why?

Let’s understand.

READ MORE

Plan Your Finances
Personal Loan for debt consolidation: Is it worth it?

Benefits of personal loans for weddings
 

Given below are the benefits which make personal loans a preferred choice for funding a wedding ceremony –

1. Simple application process
 

Applying for a personal loan is quite simple because of simple eligibility criteria and minimal documentation. You can apply for the loan online and get the funds sanctioned at the earliest.

2. Multipurpose
 

Personal loans offer a multipurpose financial solution that can be used for any type of wedding expense. Whether it is booking a venue, paying the caterer, or even planning a honeymoon, a personal loan offers no-questions-asked funds for all your needs.

3. Unsecured
 

Personal loans are collateral-free loans which do not require you to pledge any asset. The loan is sanctioned based on your credit history, income, and other financial details.

The unsecured nature of the loan makes it a good choice for couples who don't have optimal assets to pledge for the loan or those who don’t want to.

5. Optimal funding
 

Lenders offer optimal loan amounts to help you meet even big wedding expenses. For instance, FIRSTmoney by IDFC FIRST Bank offers loans of up to ₹10 lakhs, which can fund a wedding optimally.

6. Affordable repayments

Personal loans offer a flexible repayment tenure, often going up to 60 months, to help you repay the loan affordably. You can choose a tenure that gives the most affordable EMIs and repay the debt without any financial burden.

How can personal loans tackle varied wedding expenses?
 

One celebration, multiple expenses—this sums up the costs associated with weddings. However, personal loans can meet all types of wedding expenses to free you from financial worries.

Suppose you have applied for a personal loan of ₹10 lakhs. Here’s how it can manage your wedding expenses -

 

Personal loan of ₹10 lakhs

Venue booking

₹2 lakhs

Catering

₹3 lakhs

Gifts for guests

₹1.5 lakhs

Trousseau shopping

₹2 lakhs

Honeymoon package

₹1.5 lahks

 

Simple, isn’t it? One loan and all wedding expenses are taken care of!

How to apply for a personal loan?
 

You can apply for a personal loan online through the lender’s website or mobile application. Alternatively, the offline mode is also available, wherein you can apply for the loan through the lender’s branch office.

To apply for and get the loan, you have to fulfil some basic eligibility criteria. While the criteria depend on the lender, some of the common requirements include –

 

Age

Minimum - Usually starts from 18 years or, in some cases, 21 years

Maximum - Loans are available till 65 or 70 years of age   

Occupation

Personal loans are offered to salaried and self-employed individuals

Credit score

A credit score of 730+ is usually required


You will also have to submit some basic documents to get the loan processed. For instance, if you choose a smart personal loan like FIRSTmoney that has a digital application process, you only need your PAN card as proof of identity.

marriage

Factors to consider before taking a personal loan
 

While a personal loan is easily available, here are some factors to consider before you apply for it -

  1. Compare loans across multiple lenders to find the most competitive interest rates
  2. Choose a loan amount that is affordable and can be repaid without a financial strain
  3. Choose a lender offering a seamless digital application process for quicker sanctions
  4. Keep your documents handy to speed up the loan process
  5. Check the loan processing fee and choose a lender whose fee is the lowest to save on the added expenses

Tips to manage debt after marriage
 

Once you have taken the loan and funded the wedding, the next aspect is repayment. It is essential to repay the loan on time to avoid expensive interest charges and a damaged credit score.

To make repayments easier, here are some tips –

  1. Use the personal loan EMI calculatorto find an EMI that fits your budget
  2. Automate EMI payments so that you don’t miss a due date
  3. Try to prepay the loan if you have surplus funds. This would reduce the debt burden and help you clear off the loan quicker
  4. If you and your spouse are working, combine your finances to repay the debt quicker

Celebrate a grand wedding with FIRSTmoney
 

FIRSTmoney offers a smart personal loan of up to ₹10 lakhs to help you plan a grand wedding ceremony. Some of the benefits of FIRSTmoney include the following –

  1. Instant approvals
  2. Affordable EMIs starting from ₹2,174 per lakh
  3. Competitive interest rates starting from 10.99% per annum
  4. Zero foreclosure charges
  5. 100% digital process for quick sanctions
  6. Flexibility to choose a suitable repayment tenure going up to 60 months and the EMI date

Choose the on-demand FIRSTmoney and plan every minute detail of your wedding with ease. With simple and flexible repayments, you can start your married life without any financial strain.

Have the wedding of your dreams without worrying about the underlying costs. Choose FIRSTmoney to get started today!

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank 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 mentioned. Please consult your financial advisor before making any financial decision.

Prev
Next

Related Products

Related Articles

Download IDFC FIRST Bank App

Tags

You might also be interested in:

Savings Account

Personal Loan

Credit Card

Home Loan

Two Wheeler Loan