Plan a perfect wedding ceremony with personal loans

A destination wedding is becoming a dream for many couples, with more than 85% of Indians either having had or planning one, according to a recent Skyscanner survey titled “Destination ‘I Do’.’” The trend is popular among younger generations, with nearly 49% of Gen Z considering such weddings and 33% of millennials opting for the same. Couples like Aditi and Rohit, for example, decided to celebrate their love with a destination wedding in Bali, a location that offered both beauty and adventure. But, like many, they were mindful of wedding expenses.

From booking a dream venue to arranging travel tickets, hiring a wedding planner, and securing top-notch services, managing these costs can be overwhelming. However, with the right financial planning, a destination wedding can be a stress-free celebration of your love. Keep reading to find out how a personal loan can simplify your journey.

Financial challenges of destination weddings
 

While the idea of a destination wedding is undeniably appealing, there are financial considerations that require careful planning, timely bookings, and smart budgeting, including –

1. Higher venue and accommodation costs
 

Destination venues often charge premium rates, and accommodation for guests adds to the expenses. Booking early and negotiating group discounts can significantly reduce costs.

2. Expensive travelling tickets
 

Flights and transport can take up a large part of the budget. Using travel reward programmes, booking in advance, and considering off-seasons can help save money.

3. Hiring a wedding planner for coordination
 

Managing logistics remotely is challenging, making a wedding planner essential. Researching local planners and comparing quotes ensures you find quality service within budget.

4. Limited local vendor options
 

Destination weddings may have fewer choices for wedding services (like catering, decor, and photography). Opting for all-inclusive packages or bringing key vendors from your city can ensure quality while keeping costs predictable.

5. Currency exchange fluctuations
 

Payments in foreign currency can increase costs due to fluctuating exchange rates. A multi-currency account or pre-paying vendors at favourable rates can help manage expenses.

6. Unexpected last-minute expenses
 

Delays, weather-related changes, or guest cancellations can lead to additional spending. Setting aside an emergency fund or using a personal loan provides financial flexibility.

7. Managing upfront wedding expenses
 

Many vendors require deposits or full payments before the marriage ceremony. If you’re worried about financing these costs, a personal loan allows you to cover it. And it can help you do so without draining savings, ensuring a smooth financial planning process.

How a personal loan can help manage your destination wedding expenses

Here’s a clear breakdown to help you understand the benefits and make the best financial choice –

A personal loan can give you the financial freedom to plan your dream wedding without the stress of upfront costs. Here are some features that make personal loans better suited for destination weddings –

With smart financial planning, you can enjoy a seamless destination wedding and repay comfortably over time. However, you must choose a reliable lender or bank.

How FIRSTmoney smart personal loan can help during your wedding
 

Planning a destination wedding involves considerable wedding expenses. The instant loan from IDFC FIRST Bank, FIRSTmoney, offers a seamless solution to manage these costs. Here’s how its features can help you –

1. Flexible loan amounts
 

Wedding expenses can quickly add up, especially when planning a destination wedding. Borrow up to ₹10 lakh, catering to various payments, deposits, bookings, and more. This flexibility ensures you can manage all wedding-related costs without compromising on the quality of your celebration.

2. Competitive interest rates
 

Weddings often require a substantial budget, and FIRSTmoney offers competitive interest rates starting from 10.99% p.a. This means lower equated monthly instalments (EMIs), allowing you to manage your marriage expenses without straining your finances and repay the loan more easily over time.

3. Flexible repayment tenure
 

With FIRSTmoney, choose a repayment period between 9 and 60 months, aligning with your financial planning. Shorter tenures help clear debt faster, while longer ones reduce monthly payments. This flexibility makes repayment easier post-wedding.

4. 100% digital process
 

Once the bank verifies your application, you can get your loan amount into your bank account within 24 hours. This way, you can focus on your wedding preparations.

5. Zero foreclosure charges
 

If you receive unexpected financial support or wish to settle your loan earlier, FIRSTmoney offers the freedom to repay the loan before the due date without any foreclosure charges. This feature provides financial flexibility and helps you clear the debt faster, giving you peace of mind after your destination wedding.

So, with the help of FIRSTmoney, you can tick the following boxes –

1. Fund various aspects of your wedding easily without compromising on celebrations or delaying important bookings
2. Have timely access to finances to secure venues and wedding services promptly
3. Tailor your loan terms to suit your financial situation for stress-free financing during the planning and a hassle-free repayment post-wedding

However, to successfully check these boxes, ensure you meet the following eligibility criteria –
 

1. Age – Applicants must be between 21 and 60 years of age.
2. Employment – Both salaried and self-employed individuals are eligible.
3. Credit score – A good credit history with a CIBIL score of 730 or above is required.
   

Say ‘I do’ to all the joys on your big day
 

A destination wedding is a once-in-a-lifetime celebration, and with the right planning, you can enjoy every moment without the stress of managing wedding expenses. When financing your big day, a personal loan offers a convenient and flexible solution.

With the FIRSTmoney from IDFC FIRST Bank, you can enjoy competitive interest rates, quick disbursals, and easy repayment options—ensuring that financial worries don’t overshadow your special day. Focus on creating unforgettable memories and apply for a personal loan today.