Canara Bank Wedding Loan

A wedding is one of the biggest events in an individual’s lifetime. Managing wedding finances, however, could be an equally daunting task. Urban Money brings to you the Canara Bank marriage personal loan. With high loan amounts of up to 30 lakhs, repayable in up to 7 years, borrowers can ensure that finances are always taken care of. Be it a destination wedding or a classic traditional ceremony, the Canara Bank loan for a wedding takes care of wedding expenses on your behalf.

The loan comes with exciting features and benefits. Canara Bank offers an easy application process and demands minimal documents from its borrowers. Keep reading to find out the Canara Bank wedding loan interest rate, eligibility criteria, repayment terms and more.

Benefits of Canara Bank Wedding Loan

Here are some of the highlighting features offered by wedding loans from Canara Bank:

• Loan Amounts up to 30 lakhs
• Monthly Instalments up to 7 years
• No Prepayment Penalty
• No Processing Fee
• Fixed EMI throughout the loan tenure

Why Should I Choose Canara Bank for Wedding Loans?

Canara Bank offers several facilities to simplify the borrowing process for its customers. Here are some of the key advantages:

• Easy Application Process
• Quick Disbursals
• Reducing Balance Interest Rates
• Minimal Documentation
• Higher Loan Amounts Than Specified (for special cases)

Personal Loan for Wedding Interest Rates & Charges

The bank charges interest on the outstanding loan amount, resulting in affordable interest payments. Take a look at Canara Bank’s wedding loan interest rate and other additional charges below:

Tips for Getting a Canara Bank Wedding Loan

Here are some practical tips that can help increase your chances of loan approval:

• Apply for loan amounts which can be easily repaid 
• Maintain high credit scores to get faster approvals.
• Always submit genuine and updated documents.
• Take note of the additional fees and charges.
• Read the loan agreement before signing.

Eligibility for Canara Bank Loan for Wedding

The following criteria determine the Canara Bank’s Wedding Loan eligibility:

1. Eligible Applicant: Self-Employed/ Salaried Individuals
2. Minimum Work Experience: 1 year
3. High Credit Score
4. Others: Age limit and minimum monthly income as prescribed by the bank.

Documents Required for Wedding Loan Application

The Canara Bank Wedding Loan document requirements are as follows:

1. Duly filled loan application with 2 passport size photographs
2. ID Proof: Aadhar Card/ Voter’s ID/ Valid Passport
3. Address Proof: Utility Bills/ Aadhar Card
4. Income Proofs: 6 months’ salary slips/ Form 16 & ITR
5. Co-obligation of spouse/ legal heir of the borrower.

What Should One Consider While Taking a Wedding Loan?

Among the many factors, the Canara Bank wedding loan interest rate and loan tenure are important. These factors significantly impact the loan EMIs. As a rule of thumb, borrowers should always note that the higher the interest rates, the higher will be the EMIs. Further, longer loan tenures lead to shorter monthly instalments but higher overall interest payments. Therefore, applicants must always consult with experts like Urban Money while applying to gain the best rates on their loans.

How to Apply for a Wedding Loan

Urban Money offers complete assistance in submitting wedding loan applications at Canara Bank. Our experts guide you through every step of the journey. Simply call us at 1800 208 3344.