Weddings are magical, unforgettable, and… expensive. If you’re feeling the pressure of rising costs—venue bookings, catering, outfits, and everything in between—you’re not alone. In India, wedding expenses can range from ₹5 lakhs to a whopping ₹1 crore, leaving many families stretched thin.
But what if you don’t have enough savings? What if you still want to give your loved one the wedding they deserve?
What Is a Marriage Loan?
A Marriage Loan is a type of personal loan designed specifically to cover wedding expenses. Whether it’s booking a venue, hiring caterers, or buying the perfect bridal lehenga, this loan helps you manage costs without draining your savings.
Key Features of a Marriage Loan in India
- Loan Amount: ₹50,000 to ₹50 lakhs
- Repayment Tenure: 1 to 5 years
- Interest Rates: 10% to 24% per annum
- No Collateral Needed (unsecured loan)
Marriage Loan Who Can Apply?
- Before you apply, check if you meet these basic eligibility criteria:
- Age: 21–60 years
- Citizenship: Indian
- Income Source: Salaried or self-employed with stable earnings
- Credit Score: 750+ (better score = lower interest rates)
Best Banks for Marriage Loans (2024-2025)
| Bank | Loan Amount | Interest Rate | Repayment Tenure |
|---|---|---|---|
| ICICI Bank | ₹50K – ₹50L | 10.85% onwards | Up to 5 years |
| HDFC Bank | ₹50K – ₹40L | 11% – 22% | 1–5 years |
| Kotak Mahindra | ₹50K – ₹35L | Varies | Flexible terms |
| Axis Bank | Up to ₹10L | 11.25% onwards | Up to 5 years |
| Bank of Baroda | Up to ₹20L | 11.10% onwards | Up to 7 years |
How to Apply for a Marriage Loan? (Step-by-Step)
- Compare Lenders – Check interest rates, processing fees, and repayment flexibility.
- Gather Documents – PAN, Aadhaar, income proof (salary slips/bank statements), and address proof.
- Apply Online – Fill out the application on the bank’s website or app.
- Upload Documents – Submit scanned copies for verification.
- Get Approval – Some lenders offer instant loans with minimal paperwork!
Marriage Loan FAQs (Quick Answers)
Can you take a loan for marriage?
Yes, banks and NBFCs offer personal loans for wedding expenses.
What is the PM Marriage Loan Scheme?
No specific PM scheme for marriage loans exists currently.
Who is eligible for SBI wedding loan?
Salaried or pensioned individuals with regular income and good credit score.
Can you loan a wedding?
Yes, via personal loans, gold loans, or loans against deposits.
How to get funds for marriage?
Apply for a personal loan, use savings, or take help from family.
