Should You Take a Personal Loan for a Wedding?
Written by Mariyam Sara
2 min read | Updated on November 25, 2025, 18:40 IST
Social media is constantly pushing new trends, and standards on upcoming brides, and weddings are becoming increasingly expensive. The grander, the better is the new motto for today’s brides and grooms.
With the rising cost of weddings, a personal loan can help fill the gaps between your budget and the wedding of your dreams. But is that the right solution for you?
Should You Take a Personal Loan for a Wedding?
In general, it isn’t a good idea to start your married life with debt in your name. Whether you should or should not use a personal loan for your wedding depends on your ability to repay the loan comfortably.
If you don't want to empty your entire savings to have your dream wedding, a personal loan might be a good option. Personal loans require no collateral or lengthy paperwork. You can avail a personal loan and have the loan amount disbursed instantly.
Benefits of Taking a Personal Loan for a Wedding
A personal loan can help pay for unexpected wedding expenses, here are some other benefits of taking a personal loan.
Convenience
Digital personal loans can be availed online, making it convenient for individuals in urgent need of financial aid. Personal loans help take care of last moment expenses in weddings without having to worry about long procedures.
Quick Loan Approval & Disbursement
Since the end-to-end loan process is conducted online, your personal loan applications are approved and disbursed quickly which is great for covering weddings expenses without delay.
Minimum Documentation
If you need funds for your weddings, chances are you need it quickly with less hassle. Digital loans require fewer documentation and include a digital verification, fast tracking your loan approval and disbursement.
Flexible Repayment
When you avail a digital personal loan, you have the option to choose interest-only EMIs and step-up EMIs, where your EMI payments gradually increase. This helps you plan your repayment strategy so you can reduce your financial burden post-wedding.
No Collateral Needed
When you take a personal loan for a wedding, you don’t have to worry about reserving any collateral.
Disadvantages of Taking a Personal Loan for Weddings
Using a personal loan to cover your wedding expenses can backfire and lead to financial distress.
Higher Interest Rate
Since personal loans require no collateral, the lenders charge a higher interest rate on loans. This can significantly increase the overall cost of your wedding.
Financial Burden
One of the common topics most couples seem to struggle with is finances, and debt only increases your financial burden. Having a high-interest personal loan can negatively impact your financial well-being.
Impact on Credit Score
Missed or delayed repayments can lead to penalties and damage to your credit score. Inconsistency in EMI payments will lower your credit score, making it difficult to borrow in future.
Going Over the Budget
Having easy access to credit may tempt you to overspend and go over your initial wedding budget. This may increase your financial stress after marriage.
Eligibility Criteria for Personal Loan
Here is the eligibility criteria a candidate should fulfil to avail a personal loan online.
Minimum Age Requirement
The applicant should be at least 18 years of age.
Income Requirement
The candidate should provide proof of consistent income that shows the individual's repayment capacity.
Salaried Employees
Salaried employees who work in the public or private sector are eligible to avail a personal loan.
Self-employed Individuals
Self-employed individuals or businessmen earning a certain amount are eligible to avail a personal loan.
Credit Score and Payment History
A credit score is a crucial factor that determines your eligibility for a personal loan. Most lenders offer personal loans only to candidates with a credit score between 720 and 760. A good repayment history shows the lender that the candidate can repay their debt obligation on time.
Some people may think taking a loan for a wedding isn’t wise, but if you are financially comfortable to repay the loan, then you can go for it. Just do your research before signing the loan agreement.
About Author
Mariyam Sara
Sub-Editor
holds an MBA in Finance and is a true Finance Fanatic. She writes extensively on all things finance whether it’s stock trading, personal finance, or insurance, chances are she’s covered it. When she’s not writing, she’s busy pursuing NISM certifications, experimenting with new baking recipes.
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