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Weddings in India are the most sacred yet expensive events in a person’s lifestyle. The Axis Bank personal loan for a wedding ensures that no matter what, the dreams of a perfect marriage are never held back by financial restrictions. The bank offers up to 40 lakhs of loan for wedding expenses at easy terms and conditions. These loans require no additional collateral and can be easily availed. With Axis Bank’s Wedding Loan, get the best of outfits, book the most lavish of wedding venues and indulge all your guests comfortably without worrying about anything.
Urban Money offers complete assistance in securing a loan from the bank. Take a comprehensive overview of the loan, where we discuss the interest rates, application process, eligibility criteria and much more.
Benefits of Axis Bank Wedding Loan
A wedding loan by Axis Bank functions just like any other personal loan. Take a look at some of its highlighting features:
- Get Loan Amounts ranging from 50,000 to 40 lakhs.
- Easy repayments with 5 years
- Balance Transfer Facility
- No Collateral Requirements
Why Choose Axis Bank for Wedding Loans?
Axis Bank is among India’s leading private-sector banks. It enjoys the trust of millions of customers and offers them the following advantages:
- Safe & Secure Banking
- Easy Application Process
- Competitive Interest Rates
- Quick Disbursals
- Minimal Documentation
- High Customer Satisfaction
Personal Loan for Wedding Interest Rates & Charges
Take a quick look at the Axis Bank wedding loan interest rate and other charges:
Interest Rate | 10.49% p.a. to 22% p.a. |
Processing Fee | Up to 2% of the loan + GST |
Pre-Payment Charges | 5% + GST |
Instrument Return Charges | Rs. 339 per dishonor + GST |
Swap Charges | Rs. 500 + GST |
Penal Interest | 24% p.a. |
Duplicate Statement Issuance Charges | Rs. 250 + GST |
Stamp Duty Charges | As per the Stamp Act |
Tips for Getting an Axis Bank Wedding Loan
Here are some practical tips to follow while applying for an Axis Bank marriage personal loan:
- Borrow only as much as you can comfortably repay
- Ensure high credit scores to increase chances of approval.
- Take a look at additional charges before applying.
- Consult financial experts to get the best offers
Eligibility for Axis Bank Loan for Wedding
Axis Bank Wedding Loan Eligibility is based on:
- Eligible Applicants: Self-Employed/ Salaried Individuals
- Age Limit: 21 – 60 years
- Minimum Monthly Income: Rs. 15,000 (net)
- High Credit Score
Documents Required for Wedding Loan Application
Axis Bank Wedding Loan’s Documentation process includes the following proofs:
- Duly Filled Loan Application
- KYC Documents: Identity Proof (Aadhar Card/ Voter’s ID) and Address Proof (Utility Bills)
- Date of Birth Proofs: PAN Card/ Birth Certificate
- Income Proof: Salary Slips for 2 months/ Bank Statements for 2 months
What Are the Things to Consider While Taking a Wedding Loan?
Affordability is the most important thing to consider while borrowing a wedding loan. An applicant must ensure that the loan amount is within their repayment capacities and that not more than 40% of their income is directed towards loan EMIs. Interest Rates, monthly EMIs and additional fees are some important factors to consider while borrowing a marriage loan.
How to Apply for a Wedding Loan
Urban Money is the best financial advisor for those looking for a loan for wedding expenses. Our experts offer end-to-end assistance, from the application process to document submission, and help gain the best rates. Simply call us at 1800 208 3344.
Frequently Asked Questions (FAQs)
What are the penalties for late payments on personal wedding loans by Axis Bank?
A penal interest of 24% p.a. is charged by the bank on outstanding instalments. Additionally, additional charges of Rs. 399 (plus GST) are applicable per dishonour.
What is the credit score requirement for an Axis Bank personal marriage personal loan?
A credit score of 750 and above is typically considered to be a good score by the bank.
Do I need a bank account to get a personal loan for a wedding?
Yes, an applicant must have an existing bank account in order to successfully apply for the loan.
How long does it take to get an Axis Bank personal loan for a wedding?
The bank offers quick approvals where the loan amount is typically sanctioned within a few days of applying.
How much can I borrow with a personal loan for a wedding?
Axis Bank offers wedding loans ranging from 50,000 to 40 lakhs to eligible borrowers.