Marriage loans are essentially personal loans taken to meet the expenses of a wedding. Here we will talk more about personal loan for wedding including some of the leading banks that offer this facility.

What Is Marriage Loan?

Ahead of the wedding season, you are calculating your expenses. Right. Don’t worry, if you are falling short of your funds. You can get an easy loan to fund your marriage expenses. Whether you are salaried, cash salaried or self-employed – you can avail marriage loan with or without documents. We will tell you how. Keep reading. 

Dreaming for a fairytale wedding is easy and free of cost, but bringing it into a reality is not an easy task, and it costs a lot. From a designer lehenga to jewellery, rituals to reception- all are very costly. Even if you have saved some money for your wedding, it may not be sufficient for the dream wedding as there can be some unexpected expenditures. And even using all your savings for these things is not a wise choice. So, apply for a personal loan from any of the banks, which offer attractive interest rate with no hidden fees. 

Marriage Loan Interest Rate

Banks, NBFCs, and P2P lenders are there. The personal loan starts 10.90% onwards.  The interest rate varies based on the lender to lender. Here is the list of top personal loan lenders with their interest rates. 

Bank Name Interest Rates (p.a.) Maximum Loan Amount
HDFC Bank 11.25%-21.50% 20 Lakh
ICICI Bank 10.99%-18.49% 15 Lakh
Bajaj Finserv 10.99%-16% 15 Lakh
Axis Bank 16%-24% 20 Lakh
SBI Bank 10.90%-15.30% 15 Lakh
Kotak Mahindra Bank 10.99%-20.99% 10 Lakh

Document Required & Eligibility Criteria For Wedding Loan

Documents Required for Marriage Loan

Salaried Class –

  • Identity Proof - Aadhaar Card /Voters ID/Passport/Driving License /PAN Card
  • Residential Proof - Leave and License Agreement/Utility Bill (maximum three months old)/Passport
  • Income Proof – Salary slips for the last three months along with the bank statement showcasing the credited salary
  • Employment Certificate – for the past 1 year
  • Photographs - Two passport size 

For Self-employed 

  • KYC documents – Identity & address proof and date of birth
  • Residence Proof - Leave and license agreement, utility bill (should not be more than three months old), and a copy of your passport if, you own one.
  • Income Proof – ITR for the last 1 year
  • Official Address Proof – Address proof along with your email ID and phone number
  • Business Continuity Proof – Testimonials to show your business is running from the last 1 year

Many people have thought, “I am cash salaried, and how can I get a loan?”

Yes, you can get it. There is an app, namely India Bulls Dhani App, where you can apply for a personal loan without income documents. Just you need KYC documents. That’s it! The loan amount ranges between Rs 2000 to Rs 15 lakh.

Marriage Loan Eligibility

ā˜‘ Salaried applicants should be between 21 to 60 years of age

ā˜‘ Self-employed applicants should be between 25 to 65 years

ā˜‘ Employed for a minimum period of 3 months in the current job and have previous working experience also

ā˜‘ Having a net monthly salary/income of Rs. 20,000

ā˜‘ Business stability of at least 1 year is required

Top 5 Banks for Marriage Loans in India

1#. SBI Marriage Loan

State Bank of India offers personal loans at highly-competitive interest rates. These loans can be great for meeting the expenses of your wedding. The chances of approval are higher if you are a government employee or work in a corporate that has business relationship with SBI. No collateral or third-party guarantee is required for this loan. Below mentioned are some important details of SBI Marriage Loan:

Loan Amount

Rs. 25,000 to Rs. 15 Lakh

Interest Rate

11.95% - 13.45% p.a.

Processing Fee

1% of the loan amount plus GST

Loan Tenure

Up to 72 months

2#. HDFC Personal Loan for Wedding

Loan Amount

Rs. 50,000 to Rs. 40 Lakh

Interest Rate

Starting from 11.49% p.a.

Processing Fee

2.5% of the loan amount subject to minimum of Rs. 2,999 and maximum Rs. 25,000

Loan Tenure

12 months to 60 months

HDFC Bank is among the most popular private banks for personal loans in India. The application process and documentation formalities are quite simple. You can get customized loan offerings as per your needs. Also, the online application facility allows you to get instant approval. Employees of public or private sector are eligible to apply for this loan if they meet the minimum income criteria of Rs. 15,000 per month (Rs. 20,000 in metro cities) along with the other eligibility norms. Some key highlights of HDFC marriage loan are:

3#. Bajaj FinServ Marriage Loan

Loan Amount

Up to Rs. 25 Lakh

Interest Rate

Starting from 12.99% p.a.

Processing Fee

Up to 3.99% of the loan amount plus GST

Loan Tenure

24 months to 60 months

Bajaj FinServ is offering personal loans to meet the expenses of a grand wedding. It is one of the quickest loans to get in the market as Bajaj FinServ promises disbursal in 24 hours after the document verification has been done. You can also apply online to get instant approval in less than 5 minutes. The NBFC also offers a Flexi Personal Loan facility wherein you have to pay only the interest part if you cannot afford the entire EMI. You can also prepay the loan at no additional cost later. Some key features of this loan are mentioned below:

4#. ICICI Bank Wedding Loan

Loan Amount

Up to Rs. 20 Lakh

Interest Rate

Starting from 11.25% p.a.

Processing Fee

Up to 2.25% of the loan amount plus GST

Loan Tenure

12 months to 60 months

ICICI Bank offers personal loans for weddings at a highly-competitive rate of interest and with simpler terms and conditions. You can get this loan to fund the expenses of a grand wedding without having to put any assets as collateral or liquidating your investments. Some important features of this loan are:

5#. Axis Bank Personal Loan for Wedding

Loan Amount

Rs. 15,000 to Rs. 15 Lakh

Interest Rate

15.75% onwards

Processing Fee


Loan Tenure

12 months to 60 months

You can take a wedding loan from Axis Bank to plan your dream wedding. To be eligible for this loan, you should be at least 21 years old and be able to present valid documented proofs. If approved, you can get the loan amount disbursed within 24 hours. Some key highlights of Axis Bank personal loan are given below:

Top 5 NBFC's Offers For Marriage Loan


  • Quick and Instant disbursal of loans 
  • No need to put up any collateral
  • Lowest turn-around time
  • Minimal documentation
  • Flexible repayment options


  • Complete digital process
  • Highest level of security of documents
  • Minimum Documentation
  • Quick and convenient disbursal of funds


  • Instant loan available from Rs 500 to Rs 5,00,000
  • Lowest interest rates
  • Minimal documentation
  • Complete transparency in process
  • Widest stretch of EMI paying window that goes for as short as two months till four years

Money Tap 

  • Real time approval of line of credit of up to Rs 5 lakh
  • Withdrawal allowed for amount as little as Rs 3,000
  • Payment of interest only on the amount utilized
  • Flexible repayment terms starting from 2 months to 36 months
  • Minimal documentation


Why should you take a marriage loan?

A marriage loan is an easy way to fund the grand wedding that you always dreamed of. By taking a personal loan for wedding, you can avail the following benefits:

  1. Competitive Rate of Interest- Banks offer competitive rates of interest on marriage loans based on the credit profile of the borrower. Better the credit score and repayment history, better will be your chances of grabbing a good deal on a wedding loan.
  2. Easy Approval- Funds can be availed with a marriage loan much easily. There is minimal documentation, especially if you opt for a loan from a bank with which you have a long history. Also, you will have to meet the basic eligibility criteria related to age, income, etc. The banks would not ask for a proof of marriage to grant this loan.
  3. Chances to Get Higher Loan Amount- You do not need to exhaust all your savings on one day. If your credit profile is good and the bank is satisfied with your repayment history, there are chances that you can get enough funds to make your dream wedding real.
  4. Multiple Usage- We cannot emphasize more on the fact that marriage loans are essentially personal loans and hence the proceeds can be utilized for the wedding expenses as well as to meet other needs.
  5. It is affordable -  Nowadays personal loans have become more affordable; starts at 10.90% p.a. A few years back, the rate of interest on personal loans was comparatively high since there was less competition in the lending business. But with the entry of new players and fin-tech concept, wide arrays of options are available to the loan seekers. 

  6. There is complete online Loan Processing -  Nowadays, the end to end loan processing is online. This facilitates easy accessibility to the personal loan for a wedding. You need to upload the required documents and e-sign the loan agreement at the comfort of your home. 

  7. The flexibility of Loan Tenure -  If you feel the need for little financial support for the wedding, then you have an option to choose a small amount of personal loan. You can repay the loan amount as per your desire in the range of 1 to 5 years. As various lenders offer a wide flexible range of repayment tenure, the liberty of choosing the loan tenure lies entirely in your hands. 

No Collateral Needed- Nowadays, parents are ready to mortgage their properties just to host that big wedding for their children. However, secured loans have a lengthy approval and documentation procedure and there is risk to your asset. You can take a personal loan for wedding instead, which requires no collateral and ensures quick disbursal.

Things to do before taking a Marriage Loan

While personal loan is an easy and hassle-free way of getting access to funds, it is still a loan and entails interest and other fees and charges. So, you must tread with caution and not take the first offer that comes your way. Here are a few points that will help you plan a grand wedding with a personal loan without having to regret later:

  1. Prepare a Wedding Budget- This should always be the first step. You need to know how much you have and how much you need and then proceed further. Include everything from venue to dress and jewellery to the costs of travel bookings and arrangements. Every single thing should be included in the budget. Then you should plan on how much of it you can fund from your pocket and how much you would need to borrow. Never borrow more than you need.
  2. Work towards a Better Credit Score- If you have a few months before taking the loan, utilize that time to improve your credit score. With a better credit score, you can improve your chances for negotiation. Banks would be ready to grant a lower rate of interest to someone they find less risky. Also, try not to change jobs soon before getting the loan. Most of the lenders would like to see a stable income source so you should be working with your current employer for at least a year.
  3. Do Your Research- It is very important to do your research and find out what rate is available in the market. You should do this both online and offline. In the online research, you would only find the information posted by the banks and NBFCs. You must also talk to your colleagues, friends and relatives who have taken loans in the recent past to get a better picture. Shortlist a few lenders and then compare them to arrive at the right decision.
  4. Know about Fees and Charges- Mostly, borrowers ask the lenders about the interest rates and processing fees. However, there is a lot more to know. Ask them about the terms of prepayment- when you can prepay and what costs would it entail. Also, talk about the EMI bounce penalty or late payment charges just to be sure of what you are getting into.
  5. Explore Alternatives- While personal loan is an easy way out, there are other loan options as well. And an alternative loan may serve your needs better. If you can pay for a part of the expenses using your savings, you should do that.
  6. Low-interest Rate - The rate of interest is among the most important things to consider when you are looking for a personal loan. This determines how much the loan is going to cost you over the loan tenure. The rate of interest offered to you majorly depends on your credit score. A good score makes a winning personal loan/marriage loan application. 
  7.  Easy EMI: An EMI is considered affordable when it does not impact the day to day expenses and also does not feel heavy on the existing monthly budget.
  8. Additional charges - Many lenders offer personal loans with some extra charges. So, it is essential to ensure that there is no hidden cost on a personal loan. The processing fees and other charges vary from lender to lender. You should always check the charges apart from the interest rates before choosing the lender. Otherwise, you would spend more than they intended to. 
  9.  Loan Repayment Tenure - The wedding might last for a day, but the personal loan for a wedding would be repaid over a longer time. Although, short term personal loan is also available to you in the financial market. Make sure to choose a loan repayment tenure that would suits you perfectly as per your comforts.

Marriage loan is a great way to make your dream wedding real. However, you must prepare well in advance and discuss the same with your partner. Once you both agree on starting your married life with a little debt, you can start exploring the personal loan options. At first, go to the bank with which you have a banking relationship as you would be able to get a better deal.

What aspects of a wedding does a marriage loan cover?

As we have already mentioned, a marriage loan is a personal loan so you can cover all the costs of the wedding from printing the invitation cards to booking a venue to buying jewellery. You can also meet the allied expenses of a wedding such as catering, travel booking for the honeymoon, etc. Much like a personal loan, the bank does not monitor the usage of the loan proceeds.

Top Destinations for Weddings in India

So, whether you like snowy mountains, beautiful architecture, sandy beaches, historic cities, fascinating traditions or rooted populace, India has all of these to make the wedding a cherished event. Below is the list of famous places for a destination wedding in India.


The pink city is among the most popular destinations for a wedding. It offers a great heritage and beauty; this city is a major choice for extravagant wedding celebrations that always take place in palaces and mansions. There are great places like Raj Palace, Gold Palace, and Samode Palace.


Kerala is being one of the best destinations for a wedding, is commonly known as ‘God’s Own Country’. It offers a perfect place beach point for a dreamy wedding. Kerala offers places ranging from Varkala or Kovalam amongst the straggling tea gardens of Munnar to the heritage building of Kochi fort.

Andaman and Nicobar Island

The soothing and pleasing climate of these islands is loved by most of the people for their weddings. Havelock Island seems to be a perfect venue to tie the knot. 


Shimla is considered among the popular wedding destinations in India. The peaceful environment, snowy hills, and breath-taking scenery simply make your wedding day memorable forever. 


It’s a beautiful place that offers comfort, magnificence, and royalty to make a memorable wedding. There are various eye-popping Havelis and historical palaces, which are perfect for a grand wedding. Spread the information, and help people avail marriage loan with ease. 

Read More : Top 10 places to travel in India with Personal loan