Weddings can be expensive. Often, couples end up paying 20-30% more than what they intended to due to unexpected costs and not everyone has the cash on hand to cover it all. That's where a wedding loan from a line of credit like FIRSTmoney can come in handy. A wedding loan can help you cover the expenses of your special day without breaking the bank.
So, what exactly is a FIRSTmoney wedding loan and how does it work? FIRSTmoney is a smart personal loan that can be used to cover wedding expenses such as venue bookings, catering, jewellery, flowers, and more. Unlike a traditional loan, a line of credit like FIRSTmoney allows you to borrow only the amount you need, when you need it. This means you won't end up borrowing more money than necessary and paying interest on it.
Let's say that a customer has been approved a ₹10 lakh FIRSTmoney smart personal loan that they plan to use for their wedding expenses. They may initially only need ₹50,000 for the venue deposit, but as they continue to plan and make purchases, they can borrow more from the line of credit, up to the ₹10 lakh limit. This allows them to have access to funds when needed, rather than having to take out a large loan or pay for everything upfront. Additionally, they only have to pay interest on the amount borrowed, rather than the full ₹10 lakh, saving them money in the long run.
One of the main benefits of a FIRSTmoney wedding loan is that it can help you avoid the high interest rates often associated with credit cards. With FIRSTmoney, you can borrow at a lower interest rate, starting at just 10.99%, and pay it off over flexible tenures ranging from two to 60 months. Furthermore, there are no foreclosure charges if you decide to pay off your wedding loan in advance. This can save you a significant amount of money in the long run.
So if you're planning your big day, consider taking a wedding loan from FIRSTmoney line of credit to make your dreams a reality.