Weddings are once in a lifetime events and everyone wants and dreams it to be perfect; but, this perfect wedding comes at a cost. Although there might be funds set aside for this particular event in life, there might be a disparity between saving and the actual cost. Marriages are quite expensive, especially in India, where there are a number of customs and rituals and a diverse set of formalities associated with each. There is catering, venue, special dresses for the wedding couple and not to mention the gifts to be given to family members, jewelry, the items required for rituals, photographers so on and so forth.
Amid all festivities associated with wedding, do not let the costs become a damper, opt for an instant personal loan. These are unsecured loans so there is no need to pledge any kind of asset with the lender. With increasing players in the field, there are quite a few loan offers with attractive interest rate and flexible repayment tenure to opt from.
Let’s look at the offers of two financial institutions offering instant personal loan for a wedding.
HDFC Wedding loan
HDFC bank has customized personal loan for a wedding and these can be availed in 10 seconds if you are an existing customer with a pre-approved personal loan offer with the added advantage of no documents. The waiting time is no more than 4 hours for a non-HDFC bank customer. The usage of the amount is left to your discretion and the interest rate and tenure too can be adjusted to specifically suit your needs.
Qbera Wedding loan
Qbera, a fintech that amalgamates of finance and technology offers excellent personal loan for marriage. Salaried individuals can avail these instant personal loans even if they have a marginally low credit score. Using the latest risk-calculation algorithms, Qbera is able to determine borrower credibility much more accurately.
Here is a tabular snapshot for easy reference:
HDFC Wedding Loan
Qbera Wedding Loan
Rate of Interest
||Starting at 15%
||Starting at 10.99%
||Up to Rs 40,00, 000/-
||Up to Rs 25,00, 000/-
||4 hours for existing customers
||24-48 hours max
||2.50% of loan amount
||700 and above
||600 and above
The importance of CIBIL score in determining the eligibility of an applicant cannot be undermined. It gives creditors an insight into kind of loans availed and the dexterity in managing repayments. An applicant with a good to excellent credit score can negotiate on the rate of interest that is applicable on the loan. So, it is prudent to be meticulous and make timely payments as well as do periodic credit assessments to maintain the ideal score.
||11.99% to 35.99%
|| 1% to 5% of total loan amount
||₹1,00,000 to ₹15,00,000
||12 to 60 months
"I am really happy that I got a loan from Qbera. My application has been rejected by lenders in the past without giving any explanation for rejection. Qbera approved my loan with minimum documents. Thanks a lot once again."
I did not want to make many enquiries as many requests can lower the CIBIL score. I contacted Qbera on a Monday and by evening itself they had an offer for me. They kept me informed through every step of the process and were also flexible with regards to my commitments. In the end, the loan was disbursed within two days of documents submission. Thank you Qbera for simplifying the process and helping me find a loan. " Show more...
"It was a nice experience with Qbera. I have never seen such an easy process for getting a loan, especially when you need it the most. Thank you Qbera for your support."
"I had a hassle-free experience with Qbera. It was a very easy application procedure and in a short span of 3 days I got my loan credited to my account. Thank you so much for the support Team Qbera"
"It was very easy to get a loan from Qbera. I just applied on their website and got a confirmed offer immediately. The amount was transferred soon after. Will give it 5 out of 5"
"It's good and quick response from the Qbera team to get the loan. They are very good at the communicating the things properly and appropriately"