Get Instant Marriage Loans Online With Lendbox

What is a Marriage laon and why you should take a Marriage Loan from Lendbox?

What is a marriage loan?

Marriage loan is a type of personal loan that people take for meeting the cost of the wedding and associated events. A marriage loan is a very convenient way to manage marriage related expenses without disturbing the capital flow.

In India, a marriage is one of the most expensive events in one's life. It is one of the most cherished and memorable moment where everyone celebrates the beginning of a new family and we all dreams to make that moment more than just special but sometimes the associated cost makes it really stressful. That's where Lendbox can help you. Get access to your required credit with an instant marriage loan from Lendbox and get rid of that unnecessary stress and celebrate this moment with complete joy. Check your eligibilty here

Why you should take a marriage loan?

Being such an important event in our life, people always wants to make this something to be remembered for life but not everyone has the stacked capital to do so. A Marriage loan can help you plan ahead and will help you avoid being stuck. From booking venues, catering, purchase jewelry to any other important part of a wedding, a marriage loan would let you streamline the process.

An average wedding in India costs around 10 to 12 lakh. Sometimes people go overboard by using all their savings for it which can hurt their financial stability afterward while a marriage loan can help you without hurting your capital flow thanks to easy monthly repayments with EMI.

What is Lendbox?

Lendbox is an online peer-to-peer lending platform that helps individual borrowers connect with vast base of institutional and individual lenders for funding their loan on a negotiated interest rate.

Lendbox also provide loans through major banks and NBFCs, so we have you covered, if you slightly misses the eligibility criteria for banks and NBFCs, you can still get a personal loan through our individual lenders. Our credit assessment is much more flexible and relies on almost 300 data points not just your CIBIL score.

Why Lendbox is an ideal platform for Marriage Loan?

With an approval rate of 45% and interest rates starting from just 11.49% per annum, Lendbox has served over 100,000. Apart from that, below are some of the major features that make Lendbox best place to take loan in India.

High Approval Rate

As mentioned above, the approval rate for personal loan applications in Lendbox is over 45%. We have been able to serve a larger sector of people than that of banks because of our big data analytics engine and our better ability to understand customer profiles, their need, intent and ability to repay.

Low Interest Rates

Interest rate of a personal loan on Lendbox starts from 11.49% per annum. Not much different than banks? Well, here's the catch, there are no hidden charges. Pay small processing fees plus there no charges for pre-closure so you can close your loan before the loan for pre-closure so you can close your loan before the loan tenure without any extra charges.

( Note: Personal loans from banks and NBFCs will have high pre closure charges as per their standards; you can find that info further below in the page)

Pan India Coverage

Lendbox operates in over 35 cities in India, which covers almost all big Tier I and Tier II cities. We can provide you a personal loan whether you're in Delhi, Bangalore, Hyderabad, Chennai, and Mumbai or anywhere else.

How To Apply For A Personal Loan Online

It's very easy to apply for a personal loan at Lendbox. it's a completely online, paperless and hassle free process. To apply, follow the steps given below.

Before applying, make sure you are eligible and have enough documents to get approved. You can check eligibility criteria and required documents below in the post. Keep the documents with yourself during the time of application for a quick approval. Make sure your Internet is stable.

Now, follow these steps:-

• Go to or open the https://app.lendbox.in/signup/borrower in a new tab of browser or click on this link.
• Fill out all the details as per your KYC Documents
• Pay a small registration fee of Rs. 500 +GST
• Upload the copies of all the required documents
• Complete all the steps and you're done

After completing the process, we'll contact you with the further details. Here is a little video to help you out with the whole application process.

If you're creditworthy enough to get a loan, you'll get an activation mail or a call from our representatives in a matter of minutes. Sometimes it can take up to 24 hours in activation and approval. Once activated, you can start operating on the platform.

Personal Loan Interest Rates

The interest rate for personal loans in Lendbox starts from the min 11.49% p.a. and can go upto 36%, depending on the credit rating of the borrower. The credit ratings are given after the assessment of the borrower.

Lendbox looks beyond CIBIL score and salary to assess the creditworthiness of the borrowers. Our credit assessment relies on over 250 parameters and big data analytics, making sure that lenders feel safe to lend and provide personal loan to applicants.

If you have a good solid credit history and high salary then you can avail a personal loan at the lowest interest rates within minutes. Also, having small loan tenure helps you in keeping the interest amount low. Below is an example of how the interest rate affects the cost of a personal loan and its EMI's.

Example - A Personal loan for Rs. 2,00,000 at an interest rate of 12% with a repayment period of 12 months will have a monthly EMI's of Rs. 17,769 and the total payable interest amount will be Rs. 13,237. The amount you'll repay in 12 months will be Rs. 2,13,237.

Here Is An Example Table With Different Interest Rates:

You can calculate your Personal loan EMI by yourself with our EMI Calculator

EMI Calculator

Amount (₹)

₹5,000

₹5,00,000

or

ROI(%)

12%

36%

or

Tenure(Months)

3 Months

36 Months

or

Monthly EMI

₹18,912

Total Interest Payable

₹26,943

Total Payment

₹2,26,943

Total Interest

13.47%

Principal

86.53%

Eligibility & Required Documents

Before applying for a marriage loan, you need to make sure that you're eligible for it and have all the required documents so you don't get stuck after.

Different financial institutions follow different eligibility criteria, below is the eligibility criteria for Lendbox.

• You must be Indian resident.
• Minimum eligible age is 21 years
• You must have an Indian bank account
• You must a valid Indian ID proof
• Your monthly net income should be at least Rs. 25,000

If you meet all the above mentioned criteria's then you are eligible enough to apply for a personal loan in Lendbox. Once you applied, you'll have to upload copies of the following documents for verification and credit assessment.

Note: Documents with (*) are mandatory.

Marriage Loan Processing Fees & Repayment

You can avail a personal loan at repayment tenure of min 3 months to a max 60 months. With a little registration fees of Rs.500, Lendbox gives every borrower a chance to try, Once a borrower gets fully funded, he'll have to pay a minimal 2-6% processing fees for initiating disbursement of his personal loan.

Once the loan has been disbursed, borrower will have to start paying EMI's from the next month. You'll have to pay EMI's between 1 to 10th of each month. If the borrower fails to pay any EMI by the due date, he'll have to pay a bounce charge and additional penal interest of 2% p.m. on the next payment.

There are no pre-payment or pre-closure charges, if a borrower wants to close his loan before the actual tenure, then he can do it without any additional charges.

Cancellation and Refunds

Lendbox reserves the right to disapprove or reject any application if the applicant is not suitable to get a personal loan from the platform or our financing partners. Lendbox can also terminate any approved application if any issue arises later.

In case, any applicant has paid any fees prior to activation or approval, the refund policy goes as given below.

• If Lendbox terminates an account, we will refund Rs. 1000 and a credit analysis report and reasons for rejection will be provided.
• If a borrower fails to get funded and decides to close the application then a refund of Rs. 500 will be made.

Still need to know more? Have a look at the FAQ for personal loans and peer to peer lending below.