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05 JANUARY, 2023

There are ten thousand things to plan for before, during, and after your wedding. This beautiful milestone thus requires about ten thousand things that need to be taken care of money wise too. And for all these pre and post wedding needs, a personal loan or a wedding loan is a convenient financing solution.

When you click on that personal loan apply online button and your loan gets processed and the funds get disbursed, you can use them for whatever purpose you require. There are no restrictions when it comes to personal loan funds. This is helpful because you can use the personal loan for the following ore and post wedding planning and expenses.

Pre-wedding expenses

  • Pre-wedding photoshoot

Can you really get married today without a gorgeous pre-wedding photoshoot that aesthetically captures the love story of you and your significant other? A personal loan can help cover the costs related to your pre-wedding photoshoot including the photographer, location, and outfits.

  • Buying a home

You may want to meet the goal of buying your first home with your partner around the time you are getting married so that you have a beautiful home to start your newly married life in. While you may have saved for the home’s down payment and may have taken a home loan, you may need a personal loan to cover additional expenses such as brokerage, renovations, etc.


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  • Guests’ accommodation and transport

You may need to cover the expenses for accommodation and transport for your close relatives and friends who don’t live in the city and are travelling for your wedding. And if you are having a destination wedding, this cost will be even higher. The best part about a personal loan is that you can be eligible for a high loan amount if you have a high, stable income and a good credit score. In fact, you can co-apply for a personal loan with your partner to increase your loan amount eligibility even further.

Post-wedding expenses

  • Wrapping up expenses

After your wedding is over, there are several expenses that will prop up. These include everything from dry-cleaning your wedding outfits and sending gifts and thank you notes to your guests to hosting dinners and parties as newlyweds. When you consider all these costs, they will add up to quite a bit.

  • Honeymoon

The first exciting adventure you and your partner embark on after your wedding is your honeymoon. And because you want this time to be just as special as your wedding, you may put in a lot to plan the perfect travels. You may also like this to be luxurious, an experience to always remember, one where you spare no cost.

  • Furniture and appliances

Whether you are moving into a new home or your or your partner’s existing home, you may have to invest in buying new furniture and appliances right after your wedding. This can cost a bit and to not cut corners, you can use a personal loan to fund this post-wedding expense.

Taking a personal loan

Right when you start planning your wedding is when you should apply for a personal loan so that it can help you cover all the expenses from the beginning to the end and cover any financial mismatches in your wedding budget. Before you apply for personal loan, however, it’s essential to know what your Equated Monthly Instalments (EMIs) will look like so that you don’t burden yourself and your budget with EMI amounts that may be tricky to meet later. For this, you can use a personal loan EMI calculator. It’s a helpful online tool that calculates your loan EMI in seconds to help you financially plan for your big day and everything that comes before and after.

Frequently asked questions

1. How long will it take to get the wedding loan funds disbursed to my bank account?

If you apply for a wedding loan online and provide all the required documentation, the loan will be processed within 48 hours. If you apply for a smaller amount of Rs 5 lakh or less, then the loan will be processed within a few minutes.

2. Can I take a wedding loan if the wedding date is not yet set?

Yes, you can take a wedding loan even if your wedding date is not yet decided. That’s because a wedding loan is a personal loan, and you can use the funds from it for whatever purpose you require.

3. Is collateral necessary for a wedding loan?

No, there is no need for collateral of any kind in order to apply for a wedding loan. The wedding loan is approved purely on the basis of your income and credit score.

4. For how long can I take the wedding loan?

The maximum loan term for a wedding loan is five years. You can choose a repayment tenure of anywhere between one to five years and thus spread your wedding costs over time to make it more affordable.

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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.