1. High Loan Amounts: Marriage loans often offer high limits, allowing you to cover large expenses for venues, catering, attire, and more.

2. Flexible Repayment Tenure: Most marriage loans come with flexible repayment terms, typically ranging from 1 to 5 years, helping borrowers choose a plan that suits their financial situation.

3. Competitive Interest Rates: Marriage loans in India often feature competitive interest rates, allowing you to finance wedding expenses affordably.

4. Digital Application and Processing: Many financial institutions offer online applications, making it convenient to apply and track your loan status from anywhere.

These features make marriage loans a popular choice for financing weddings in India, helping families manage the costs of celebrations without compromising their financial security.

1. Instant Access to Funds: Marriage loans provide quick access to funds, allowing you to cover wedding expenses without delay and reduce financial stress.

2. No Collateral Required: Being unsecured, marriage loans don’t require collateral, making them accessible to a wide range of borrowers without risking assets.

3. Manageable Repayment Plans: With flexible tenure options, marriage loans allow you to choose a repayment plan that aligns with your budget, ensuring manageable monthly payments.

4. Fast Approval and Disbursement: Many financial institutions offer quick processing and disbursement, making it easier to get funds in a timely manner for your wedding.

5. Prepayment and Foreclosure Options: Some lenders allow for early repayment without heavy penalties, offering the freedom to close the loan sooner if your financial situation permits.

The eligibility criteria for marriage loans in India generally include the following:

1. Age: Applicants should typically be between 21 and 60 years old. Some lenders may have specific age requirements, like a minimum of 23 years for salaried individuals.

2. Employment Status:

   • Salaried Individuals: Must have a stable job with at least 1-2 years of work experience, often with a minimum of 6 months in the current organization.

   • Self-Employed Individuals: Should have a stable income and a minimum of 2-3 years in business continuity.

3. Minimum Income: Most lenders require a minimum monthly income, often starting from ₹15,000 for salaried individuals and varying based on location and lender.

4. Credit Score: A good credit score, usually 650 or higher, is generally required to demonstrate creditworthiness. A higher score may result in better interest rates and quicker approval.

5. Residency: Applicants must be Indian residents. Some lenders may also specify that the applicant has been residing at their current address for a certain period, like 1 year.

6. Bank Account: A valid Indian bank account is often required, as disbursement and repayments are managed through bank transfers.

7. Existing Loan Obligations: Lenders may check existing debt and overall repayment capacity to ensure that the applicant can manage an additional loan.

These criteria can vary slightly between lenders, and meeting these requirements can increase the chances of loan approval.