What is Marriage Loan - Eligibility, Documents, Features and Benefits

Mar 13th 2024

An Indian wedding is an intimate event. It is one of the largest family celebrations and includes many traditions, rituals, and ceremonies. Wedding in India is also a symbol of family relationships. Due to its cultural significance and detailed information, weddings often become one of the most popular events. This is a once-in-a-lifetime opportunity so the family leaves no stone unturned to make the event extra special.

Needless to say, all events are cost-driven and you need to have cash on hand so you can pay expenses immediately. This is where marriage loans can save you. Therefore, you can choose the best venue, and food for your wedding without financial restrictions.

Marriage Loan is a personal loan that you can use to pay for your own or a family member’s wedding expenses. Today most of the banks in India offer these loans and the best thing is that you do not have to prove any reason to the lender. Many banks in India even provide marriage loans.

What is a Marriage Loan?

A wedding loan is a type of personal loan used to cover wedding-related expenses. Wedding loan interest rates are generally similar to personal loan rates offered by lenders. Consumers can also get personal loans from banks/non-bank institutions that do not have alimony loans. Most lenders offer personal loans with interest rates of 10% or higher. Personal loans of up to Rs 40 Lakh or more are available with a maximum tenor of 5 years. However, some banks offer personal loans with lower interest and longer terms. Some lenders also offer pre-approved personal/wedding loans to select customers that can be paid off quickly.

Marriage loans come with various EMI repayment options and flexibility, making them attractive to customers. It also adds a simple online process and quick application/payment to help you focus on your wedding without the hassle of applying for a loan.

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Marriage Loan Eligibility

If you want to get a consumer loan, you must meet the necessary criteria for a consumer loan depending on many factors. Criteria may not apply to all candidates and may vary slightly from bank to bank. Eligibility criteria for a marriage loan include:

  • Minimum age: The minimum age is 21, but some banks state it is 23.
  • Maximum age: 58 years for salaried people, 65 years for self-employed people.
  • Minimum Monthly Income: The minimum monthly income for a marriage loan is 15,000 Rupees, but some banks may also set it around 25,000 rupees depending on the city of residence.
  • Employment Types: Salaried and self-employed professionals can apply for a wedding loan.
  • Working Conditions: If the applicant is salaried, the previous work experience must be 2 years, and for the self-employed, 1 year of work experience.
  • Credit score: A credit score is important in wedding loans. Most lenders require applicants to have a score of 700-900.
  • Maximum loan amount: The maximum loan amount depends on many factors such as income, ability to repay, credit history and money of the borrower. The maximum loan amount depends on the service provider but varies between Rs 5 lakh and Rs 20 lakh.

However, it is important to note here that the compound formula may vary from bank to bank. For example, bank A may have 21 years as the minimum age criterion with a credit score of 700, whereas bank B may have the minimum age criteria as 23 years but a credit score of 800. It actually depends on what the particular bank prioritises more.

Documents Required For Marriage Loan

The set of documents required to apply for a marriage loan are as follows:

Certificate documents:

  • Legal documents if:
  • PAN Card/Aadhar Card
  • Passport/ Voter Identity Certificate.
  • Permanent Driving License
  • Ration Card with Photo

Proof of Address:

  • Permanent Driving License
  • Passport
  • Voter ID card
  • Ration card
  • Electricity/water/phone charges
  • Record a lease or rental agreement

Proof of Age: For Proof of Age, you can send:

  • Birth Certificate
  • School Certificate
  • PAN Card

Financial Information:

  • For salaried earners: Pay Form 16 and bills for the last 3 months.
  • For self-employed people: Audited and verified profit and loss statements, income tax returns for 2 years ago and bank accounts for the last 6 months.

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Features Of Marriage Loan

Marriage loans, also known as wedding loans, are special loans designed specifically to cover wedding expenses. Here are some features of marriage loans:

  • Unsecured Personal Loans: Most marriage loans are unsecured, meaning they do not require personal assets. Your creditworthiness and income determine your eligibility and interest rate.
  • Fixed Rate: These loans usually have a fixed interest rate; This means your monthly payment will remain the same for the life of the loan.
  • Loan Amount: The loan amount varies depending on the lender and your creditworthiness, but is generally between a few thousand and tens of thousands of dollars.
  • Repayment terms: Repayment terms for childcare loans generally range from one to five years, and you can choose the period that suits your financial situation.
  • Fast Approval: Many lenders make this possible by providing fast approval and financing for wedding loans. It is easy to pay for wedding expenses in a short time.
  • Special Purposes: This loan is especially for rent, food, decoration, etc. that can be used for wedding expenses.
  • Credit score: Good credit is generally needed to get a marriage loan. Lenders evaluate your credit history to determine your risk as a borrower.

Benefits Of Marriage Loan

1. Easy Application Process

If you want to learn how to get a marriage loan, you should know that it is an easy way that you can do from the comfort of your home. Also, online loans do not require any proof.

With just a few clicks, you can request a wedding personal loan online from the lender’s portal or mobile app. All you have to do is complete the simple KYC process and provide basic information like:

  • Proof of your identity like your Aadhar card
  • Passport-size photo
  • Any proof of electricity bill, Aadhar card, passport
  • Addresses such as payment receipts, income tax receipts or last month’s bank statements.

2. Easy Monthly Payments

If you are a couple just starting out in life, you may have other financial responsibilities. Fortunately, wedding loans come with easy repayment options and flexible EMIs. You can easily repay the loan little by little over several years.

Before applying for a wedding loan, first estimate your EMI cost using the personal loan EMI calculator. Just enter your loan amount, maturity and interest rate. This tool will calculate how much you will pay each month. You can now adjust the variable until you reach the EMI amount within your budget.

3. Loans Are Easy And Can Be Paid Quickly

Wedding loans are personal loans and are easy loans. So, unlike a home loan or car loan, you don’t have to worry about completing complex procedures before applying for a wedding loan. Generally, lenders only evaluate your ability to repay and your credit history.

After applying for your wedding online, it only takes a few minutes to get approval. Once the lender processes your application, you will receive your money directly into your bank account.

Fast loan repayment is one of the biggest advantages of marriage loans. Weddings in India are time-consuming and complex events that sometimes come with unexpected expenses. In this case, it is better to have some cash on hand.

The Conclusion

A marriage loan is a convenient and accessible financial tool. By understanding the meaning, eligibility criteria, and application process, you can confidently apply for a marriage loan and secure the necessary funds to make the wedding memorable. Remember to choose a reliable lender, assess your financial capabilities, and plan your wedding budget wisely.


1. What is a loan for marriage?

A loan for marriage is a personal loan wherein the funds can be utilized for marriage-related expenses. All the leading banks such as ICICI Bank, HDFC Bank, Axis Bank and SBI offer loans for marriage.

2. Are the eligibility criteria different from usual personal loans?

No, the eligibility criteria are the same as that of normal personal loans.

3. Is there any evidence or collateral required for a marriage loan?

You do not need to provide any evidence for availing Marriage Loan, nor is there any requirement to produce security or collateral.                                                     

4. How long does it take for the money to be credited to my account?

After the loan is approved, the money will be deposited into your account. For some banks or NBFCs, this process takes only 3 hours while for others it takes a day.

5. How can I pay off the wedding loan?

You can repay your wedding loan easily. You can opt for an easy EMI plan like direct withdrawal from an authorized bank through ECS authorization or repayment by cheque.

6. What documents are required to get a wedding loan?

To apply for a marriage loan, you will need many documents such as your last pay slip, photo, KYC information and bank statement for the last three months.


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