IDBI Bank Personal Loan for Wedding

Get in Touch for Personal Loan Expert Advice

Connect with our Personal Loan Advisor Now!

Personalized Personal Loan solutions
Expert guidance
Application assistance
Credit score discussion
Personal Loan Interest rate comparison

Full Name

+91Mobile No.

Choose City

I agree to the Terms and Conditions of TUCIBIL and hereby provide explicit consent to share my Credit Information with Urban Money Private Limited.

Written By

Amrita Sinha

Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal finance.

Reviewed By

Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Marriages in India are no less than celebrations. They come with plenty of frills, thrills, and, of course, bills. Whether you need more money to supplement your wedding budget or to cover a last-minute need, a wedding loan from IDBI Bank allows you to spend lavishly on location, cuisine, photography, decorating, or clothing choice.

Benefits of IDBI Bank Wedding Loan

The benefits of choosing an IDBI Bank personal loan for wedding expenses are listed below:

Minimal Documentation
Quick Disbursement
Competitive Interest Rates
Flexible Loan Amounts
Convenient Repayment Options

Why Choose IDBI Bank Wedding Loan?

IDBI Bank wedding loan should be opted for the following reasons:

You can get your loan disbursed within seven working days.
The IDBI Bank wedding loan interest rate begins at 9.50% p.a., making it quite affordable
You can pay the loan over a flexible period of time

Personal Loan for Wedding Interest Rates & Charges

The following are the IDBI Bank personal loans for wedding interest rates and charges.

Interest Rate	9.50% p.a. onwards
Processing Fee	1% of the loan amount
Foreclosure Charges	2% plus applicable taxes for up to six months No charges after six months
Property Documents	Rs. 225
Change of Repayment Mode	Rs. 575
Copy of credit information obtained from CIBIL	Rs. 50
Re-issuance of PO/DD	Rs. 115
Duplicate Certificate / Interest Paid Certificate	Rs. 150
Penal Interest charges on Overdue amounts for a delayed period	36% p.a.

Tips for Getting an IDBI Bank Wedding Loan

The following tips must be followed for getting an IDBI Bank personal loan for a wedding:

You must gather the required IDBI Bank wedding document to ensure flawless processing
You must check the IDBI Bank Wedding Eligibility before applying for a loan
You must choose the amount required for a loan for wedding expenses
You must choose a payment schedule that aligns with your financial capabilities

Loan for wedding expenses should be allocated based on priority

Eligibility for IDBI Bank Loan for Wedding

You can check if you’re eligible for IDBI Bank marriage personal loan:

Salaried individuals and self-employed professionals with a minimum monthly income of INR 1,80,000 and INR 3,60,000
Age between 21 and 60 years
Employed with your current employer for at least 3 years
Good credit score

Documents Required for Wedding Loan Application

The following IDBI Bank Wedding Documents are required to apply:

Identity proof (PAN card, Aadhaar card)
Proof of income (e.g. latest salary slips, income tax returns)
Proof of address (e.g. utility bills, bank statements)
Three-month salary slip for salaried individuals and two years of ITR for self-employed
Two recent passport-size photographs

What are the things to consider while taking a wedding loan?

The following things must be kept in mind while taking an IDBI Bank marriage personal loan.

Understand the whole cost of borrowing, which includes interest rates, processing fees, and other expenses.
Choose a payback period that you can readily manage within your budget.
Do not overborrow. Make sure your wedding debt repayment does not impact your usual finances.
Before taking out a loan, consider choices such as wedding savings accounts or family contributions.

How to Apply for a Wedding Loan

You can apply for an IDBI Bank marriage personal loan from the official website of Urban Money. You get the best loan amount, interest rate, and repayment options that align with your financial needs. You simply have to visit Urban Money’s website or give a call at 1800 208 3344

Loans

Bank Wise Home Loan Eligibility Calculator

Frequently Asked Questions (FAQs)

How much can I borrow with a personal loan for a wedding?

You can borrow up to Rs. 5,00,000 from IDBI Bank as a personal loan for a wedding.

How long does it take to get an IDBI Bank personal loan for a wedding?

Your loan from IDBI Bank is disbursed within 2-3 working days.

Do I need a bank account to get a personal loan for a wedding?

No, you do not necessarily need a bank account to get a personal loan for a wedding. You can apply from third-party websites.

What is the credit score requirement for an IDBI Bank personal loan for a wedding?

There is no specified minimum credit score for IDBI Bank wedding loan applicants. However, candidates with a credit score of 750 or higher are more likely to be approved for IDBI wedding loan rates.

What are the penalties for late payments on an IDBI Bank personal loan for a wedding?

You are charged 2.5% of the loan amount if late payments are made.