Life is a race. First in school, then in college, followed by a job and now, shaadi! As I worked out my wedding costs for the 8th time in that excel sheet, I was, let’s say, about to go into hiding. The process of getting married, those rituals, the flashy venues, the costs, meeting the expectations of both sides of the families… it simply felt nightmarish.  For weeks I tried to match that scary figure on the excel sheet with my savings, but I realized I needed more than what I had in the bank.

But what had to be done, had to be done. Including multiple visits to the bank for a personal loan. When I started looking out, I was categorically told that a collateral and a co-signer are a must for the loan. Well, if I was rich enough to have an asset to submit as a collateral I won’t be asking for a loan in the first place, would I? It’s basic. My fiancé and I had understood the importance of savings and had our monthly SIPs* in place (thank God!). However, the preparation for the wedding and furnishing the house would be more expensive than we had calculated. So, now what to do?

One day, burdened with this worry, I dejectedly walked into my office with half a day’s pay gone and the dream of a big fat Indian wedding shattered. Then I heard the cheerful voice of Armaan calling me, “Manoj Bhai! Getting ready to get fried in the marriage pan soon, eh?!” Now usually Armaan’s young enthusiasm is a delightful break from the office monotony, but today was not the day. I think Narendra, our senior, noticed this and asked him to cut it out. It seemed like this loan issue was camping in my mind and Armaan noticed it too.

So later he came by my desk to catch up, again. I narrated my worry about this personal loan issue. He heard me and was almost smiling. “Armaan, what is it? Why that smug look on your face?”, I asked, with a hint of irritation.



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He called Narendra over, and explained in a ‘hear me out’ tone, “Manoj Bhai, don’t get me wrong… I am all smiles because I think we can crack this and I know how.”

Armaan then explained the issue to Narendra, who too agreed “Of course! That’s a good idea Armaan. Manoj, what you need right now is a quick personal loan which is unsecured or collateral-free.”

“Collateral-free”? I questioned like a 6-year old.

Armaan elaborated further “Arre bhai, simple hai! See, usually to get a personal loan, you need to give your bank some kind of guarantee or asset in turn right? In India we call it ‘girwi rakhna’. You might have seen some Bollywood maa doing that to her mangalsutra!”

I grinned.

Armaan too smiled and added “So now, instead of putting any of your assets at risk – be it your jewelry, home, car or anything you own, you should aim to get an unsecured loan which is a loan without collateral and co-signers.”

I was surprised “Do such loans even exist?”

Narendra said, “Of course they do. These are online personal loan which you can apply for with absolutely no physical documentation and comes through within hours of approval. Plus, it enhances your credit score!”

“This sounds like a fairy tale, but, what is the security of all this?” I asked, not sure about this.

“Don’t worry”, Narendra said. “It is completely safe. Haven’t you moved to banking on your app? Then why not personal loans online?”

“How do you think I got those Bose speakers and the flat TV bhai, with my, ahem, salary?” and he hinted a look at Narendra. Narendra gave a ‘get lost’ smirk, shook his head and walked off.
Then Armaan winked at me and showed me the Paysense app on his phone. This was new, and to me it seemed like a dream come true! Here, was this whole new world of easy personal loans for salaried people like us and I had no clue?

After all the demo, I felt at ease, and relaxed. “The shaadi ka laddoo doesn’t seem so bitter after all Manoj Bhai, does it now?” Armaan teased said, and I laughed saying “And you will have a whole box Armaan, a gift from me and my fiancée.”

I thanked him profusely for helping me out and said “Let’s go for lunch, my tummy is growling. Oh, and it’s on me!” We laughed as we headed out as I told him about the fancy venue my family was planning for the functions and the greedy pundit who wanted silk dhotis and all those ‘shaadi walla’ things.

I don’t know what my married life will bring in the future, but having an unsecured personal loan, will definitely not bring me that daily tension. In short collateral-free means tension-free! I feel much more in control of the situation. Take it from me guys, the three most important things for a wedding you will need: A pandit, a mandap and a collateral-free personal loan!