Wedding Loan HDFC vs Wedding Loan Qbera

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.

• Salaried individuals can avail the loan
• The preferred age for a loan is 21-60 years
• A net salary of Rs 20,000 is a requisite
• Competitive interest rate
• No requirement to liquidate assets or investments
• No restriction on fund usage
• Flexible EMI and tenure available

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.

• Low- income of Rs 18000 per month are considered
• Low CIBIL score considered
• Preferred age group of 23-55 years
• Competitive rate of interest
• Flexible tenure of up to 60 months
• Ideal for individuals in shared accommodation
• Flexible usage of funds

Here is a tabular snapshot for easy reference:

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.