Top NBFCs that are Disbursing Marriage Loan within 24 to 48 Hours
As we leave valentine’s day behind us and begin our journey to get married to our soulmates, a common question that might be pondering your mind is how to finance your marriage expenses without burning a hole in your pocket.
Every one of us likes to throw a big fat Indian wedding, but a common concern which is often ignored is how do we finance this big fat wedding.
If you are also struggling with the same doubt, you are in luck, as in today’s blog post, we will share with you an effective way to finance your dream wedding via a marriage loan and also share with you 4 NBFCs in India which disburse one in 24 to 48 hours. Thus, without further ado, let’s get started.
What Is a Marriage Loan?
One of the first and most important aspects we need to understand is the exact meaning of a marriage loan. In simple terms, a marriage loan can be understood as a financial instrument through which you can borrow a certain amount of money and pay it back via easy EMIs while enjoying a competitive rate of interest, quick disbursal, and flexible repayment system.
While the concept of a marriage loan is not exactly new in India, it has been catching up to trend in the past couple of years, mainly due to the number of NBFCs who now specialize in rendering this service. Along with this, marriage loans in India arrive with one striking feature which is missing from traditional loans, and that is the ability to secure it in a short amount of time. Since most lenders today operate on a completely online mode, all you need to do is either visit the lender’s website or download their smartphone application to share your eKYC details to initiate the process.
Top NBFCs for Marriage Loans in India
- Money View Loans
By far, our most favorite lender in this is MoneyView, which is an NBFC based out of Bangalore, India. If you have researched marriage loans anytime in the past, it is almost guaranteed that you have heard about MoneyView.
Popular among the current generation for its wide availability and ease of use, paired with consumer-friendly lending options, the NBFC is most famous for its competitive rate of interest and quick disbursal times.
Money View renders its marriage loans of up to ₹5 lakhs to both salaried as well as self-employed professionals, and you need to have a minimum credit score of 750 on a scale of 900 along with a stable monthly income to qualify for the process.
In order to secure a loan from MoneyView, all you need to do is download their smartphone application from either the PlayStore or AppStore and initiate the loan application process by sharing your eKYC details with them.
- Gopay Sense
The second NBFC on our list is Gopay Sense, which is a lender based out of Mumbai. The lender started operations by mainly focusing on salaried employees, but as of date, renders marriage loans to both business owners as well as self-employed professionals.
All you need to do to secure a marriage loan of up to ₹5 lakhs from Gopay Sense is either visit their official website and register for an account there or download their application from the Google PlayStore. Initiate the process by sharing your eKYC information, and if you have a credit score of above 750 and a stable regular income, you should have the money in your bank account in no time.
If you have researched marriage loans in the past, then chances are that you have definitely come across Dhani from the house of IndiaBulls. A relatively new but popular offering by an established lender, Dhani is most popular among millennials for their consumer-friendly lending options as well as value-added services clubbed with them.
In order to avail of a marriage loan from Dhani, you will need to have a minimum credit score of 750 on a scale of 900 and preferably be a full-time salaried employee. The interest on marriage loans by Dhani is fairly competitive, and the best part is, you can have the loan amount in your bank account within 48 hours from applying.
One common issue most first-time borrowers of marriage loans face is failing to get their loan application accepted, mainly due to the fact that they have a low credit score, and this is exactly the issue Credy addresses. New age and modern lender, by all means, Credy gives out loans to both salaried as well as self-employed professionals with a stable income, even if they have a comparatively less credit score.
Whereas most lenders promote you to have a credit score of at least 750 on a scale of 900, both Credy and MoneyView accept lenders having credit scores of 650 and upwards. Along with this, Credy also offers a competitive rate of interest on their marriage loan products, making them an attractive choice among borrowers.
Last but not least on our list is KreditBee, an NBFC based out of Bangalore, which started its operations in 2016 by mainly focusing on the buzzing student populous of the country. However, today along with servicing the lending needs of students, KreditBee also gives out marriage loans to both salaried as well as self-employed professionals.
Similar to other NBFCs on this list, borrowers can enjoy a competitive rate of interest, flexible repayment, and instant disbursement features with KreditBee as well. To avail a loan from KreditBee, you need to have a stable monthly income along with having a credit score of above 750 on a scale of 900.
Getting a marriage loan when you need it the most can not only help you organize the wedding of your dreams but also make sure that you do not burn a hole in your pocket in the process. Now all that remains is for you to go ahead and make a choice from the list of NBFCs we shared above.