Marriage loans are a kind of personal loan where you borrow money to pay for your wedding and costs related to it. This includes booking the wedding venue, planning décor, food arrangements, buying attires and jewelleries, etc. Personal loans are kind of unsecured loans and are granted by the lender on the basis of demographic specifics of the applicant such as age, income, existing liabilities, and credit score, etc. But there are terms and conditions which vary on the amount you want to borrow. Some loan terms are of three or five years, while others exceed up to 12 years. Marriage loans can be taken where personal loans are given; it can be bank, credit unions, online lenders or online personal loan apps.

Factors for Getting Marriage Loan Approved

As marriage loans are a type of personal loan, you need to be mindful about what all you want to cover under it. The lenders will consider the below factors before granting you the amount of loan.

  • Your credit score
  • Whether there is a co-borrower with you
  • Your lender
  • Your income and debt
  • Your age
  • Your nationality

Why Should you opt for a Marriage Loan?

  • As marriage happens once in a lifetime, we desire to do our best to make it grand. This includes a game of a huge amount of money, and therefore, it is sensible to depend on marriage loan if required.
  • It will prevent you from spending money from your savings, credit cards or selling off high valued assets.
  • Taking a marriage loan will save your money and help you plan your honeymoon and other future expenses.
  • Although, there should be a pre-decided budget for your marriage, but it will always exceed due to increasing costs. You don’t need to compromise if you take marriage loans and it will cover you unanticipated expenditure.
  • Marriage loan will give you the liberty to spend as per your desire in the wedding

Right Time for you to opt for a Marriage Loan?

The decision of marriage is never taken on a whim. It is always well planned and pre-decided. Most wedding venues require an advanced down payment of some percentage to reserve the place for your wedding date. There are high chances of losing the spot if you don’t reserve it from before. Similarly, it takes time to design pieces of jewellery, buy dresses and reserve caterers and other vendors and some amount of payment is required to book them.

If you have a great credit score, you will have more options to choose lenders with low-interest rate. Other than the required documents a lender needs to sanction your loan, you need to be aware of your ability to pay back the loan amount.

Steps to get Marriage Loan

  • Be aware of your credit score – Check your credit score using online apps, or you can pull the information out from your bank. It is advisable that you have a decent score and if you don’t have one; ensure to improve your credit score before applying for a loan. Also, being aware of your credit score will give you a fair idea of how the loan amount you will be eligible to apply.


  • Get Prequalified – Prequalification helps the lenders to figure if you have enough financial support to be eligible for a loan. Accordingly, your terms will be set by the lender. This is one of the best ways to observe what the lenders have for you to be offered. As this process is a soft credit inquiry, you have a chance to prequalify with many lenders without getting your credit impacted.


  • Get personal loan online -Thanks to technology invention, now you can get personal loan online. You can select your lender and complete your loan application process sitting at home. PaySense is one such online app which gives immediate approvals and quick disbursals, along with affordable EMIs with a few clicks. As PaySense lets lenders check your creditworthiness, you can get the approval on the very same day post answering some questions and providing required documents.


The unexpected emergence of COVID-19 has made us understand that we need to be ready for unexpected series of events. Finance and economy got impacted the most in the last eight months. A lot of people around the globe have lost jobs overnight, a lot of events and marriages went on hold due to lack of financial stability and social distancing. PaySense being an online personal loan app, brought up the solution for everyone’s financial issues by providing instant disbursals. People got personal loans online through this app without having to step outside the house during this pandemic.