Personal loans can be used for anything and everything there’s no limitations from the lender in the ways you can use the money borrowed. It can be a great way to arrange the finances for weddings because weddings have all kinds of different expenses which need to paid to different shops, caterers, wedding destinations, etc.This also a way to get the funds quickly transferred into your account aka quick disbursal. After basic documentation and required credit score personal loans are easy and quick to get approved. A lot of banks are providing fully online personal loan approvals from documentation to disbursal. Because everything is being done online they also have low processing charges.
Due to covid-19 the world is facing a financial crisis right now. People are losing their jobs and facing salary cuts. This crisis does not seem to end and it might not be a great idea to break all your savings right away for a wedding. Weddings are a once in a lifetime opportunity and it is important to celebrate those moments. Don’t let your financial insecurities to not celebrate your wedding the way you want to.
Personal loan can cover all the wedding costs for you and you can get a loan which is a right option for you and pay manageable EMIs every month. Keep in mind that personal loans are heavily dependant on credit score so even if it is early on start generating your credit history the right way. Get a credit card and pay some of the bills with your credit card and pay the credit card bills on time. This is the best and safest way of building a healthy credit score.
Standard charted bank personal loan provides loans from Rs. 1 lakh to 50 Lakh depending on your credit score which can easily bear the cost any luxury wedding you want. SCB also provides fully digital personal loan. After you complete the online procedures and documentation SCB lets you know in very less time if your loan is approved or not. Interest rates start from 11.99%.
The bank provides loan for both salaried and self-employed individuals. Loan can range from 1 Lakh to 50 Lakh it is one the very few banks to provide such big amounts of loans. As compared to business loan rates personal loan rates are lower and such big amount can cover initial start up expenses.There’s no processing fee required for applying for the loan online. The repayment period is between 12-60 months. No collateral security or guarantor is required to avail a personal loan from SCB. you can also get a part [ayment option upto one year with a rate of 25%.
Borrower must be 22-58 years of age.
Monthly salary of individual should be minimum of 22,000 rs.
Do not forget that after paying off the personal loan your credit score will boost by a lot.
Comments