Weddings are a celebration of love. More than a ritual, weddings are the time for friends and families to come together, bless the couple, as they start a new phase of their life. With every passing year, the fat Indian wedding seems to be getting bigger and grander. Nothing is joyous for a parent as watching your child begin the next phase of their life with their loved one. However, a wedding can dent a significant blow to one's savings. Sadly, most families do not have sufficient funds in hand to hold a dream wedding for their children.

This is where personal loans for weddings come into the picture. Easy to avail, hassle-free and minimal documentation, personal loans for weddings can help you hold a dream wedding without draining all your life's savings. Of the several banks offering wedding loans, HDFC bank is one of the most preferred.

Here, in this guide, we take a look at personal loans for weddings from HDFC bank. 

Ways to Finance a Wedding with HDFC Bank 

  • Personal Loan

A personal loan is one of the easiest and quickest ways to raise funding for a wedding. All individuals – parents, siblings, the groom or the bride, can opt for a personal loan to take care of marriage expenses. Pre-approved HDFC customers can receive the loan amount to their bank account within seconds. Non-HDFC bank customers can also receive this loan in just about four hours or less. Since it's an unsecured loan, you don't have to provide any collateral or submit assets.

The most significant benefit of taking a personal loan to handle marriage expenses is that availed funds can be used in any way. You can use it to pay the rent for the venue, to settle the bills of the decorator, caterer and party planner, to purchase wedding attire or even to plan the honeymoon. There are no restrictions on how the funds can be used.

HDFC bank offers personal loans for marriage expenses up to Rs. 40 lakhs. Borrowers can comfortably repay it in small instalments that fit their monthly budget. HDFC offers monthly EMIs as low as Rs. 2187 for a lakh.

Other benefits of personal loans for marriage include minimal documentation, simple eligibility criteria, instant approval and quick disbursal of the approved loan amount. If you're looking for a hassle-free way to raise funds for your wedding, then personal loans from HDFC bank is an excellent choice.

  • Loan Against Assets 

Very often, families end up pledging (or selling) family heirlooms and property assets to raise money for the wedding. You can avoid this scenario by taking a loan against assets from HDFC bank. In this case, the bank takes your asset as security for the loan and provides you with the required amount. You can then repay the loan amount as affordable EMIs over a period. The best part is that you retain complete ownership of your asset, once you repay the loan. 

Some of the assets you can pledge include:

  • Loan against Property – you can pledge both residential and commercial property 

  • Loan against Mutual Funds – use your mutual fund holdings to avail a loan

  • Loan against Shares – your securities can help you avail a loan 

Benefits of Taking a Personal Loan for your Wedding 

Let’s take a look at the top reasons why it makes sense to apply for a personal loan from HDFC to fund marriage expenses. 

  • No limitations on usage of the funds 

You can use the loan amount any way you desire. Whether you’re paying for the venue, event planner, decorator, lighting contractor, photographer, caterer – the choice is yours. The loan amount can be used to handle all the expenses associated with your big day. 

  • Instant approval

One huge benefit of personal loans from HDFC bank is that the loan is sanctioned within a few hours to a few days. Once your loan application is processed, the approved loan amount reaches your bank account within a few working hours. You can withdraw the required amount and use it to meet any of the wedding-related expenses.

  • Online Application 

HDFC bank offers the facility to apply for personal loans online. Existing customers have to log into their HDFC bank account, visit the personal loan page and start the application process. You can attach scanned copies of the required documents. Sometimes, HDFC bank sends representatives to collect the documents from your place.

  • Repay the loan in Pocket-friendly EMIs 

You can repay the loan amount in affordable EMIs spread over a period. HDFC bank offers personal loans for weddings with a tenure ranging from 1 to 5 years. Additionally, you can also customize the repayment schedule to fit your monthly budget and other expenses. 

  • No need to provide Collateral

As an unsecured loan, you don't have to provide any collateral while availing a personal loan for the wedding. Thus, a personal loan prevents you from liquefying or selling your assets to pay for the wedding expenses.

Now that we’ve seen the benefits of personal loans from HDFC bank for weddings, let’s take a look at the terms and conditions. 

Salient Highlights of Personal Loans for Weddings from HDFC Bank

  • Loan amount – Rs. 50,000 to Rs. 40 lakhs

  • Loan Tenure – one year to 60 months

  • Get the loan approved within minutes if you’re a pre-approved HDFC customer. Other non-bank customers can get the loan approved within four hours. 

  • The loan amount is disbursed within one working day of submission of all the documents. 

  • A simplified online loan application process with just a few clicks.

  • Optional – Personal Accident Cover and Personal Loan Security with HDFC personal loan. 

  • Easy documentation 

  • 100% transparency 

  • Special rates for women borrowers

  • Flexible repayment options

  • No hidden fees or miscellaneous charges 

Interest Rates and Charges 

  • Interest rate – 10.75% to 21.30%

  • Loan processing fee – Up to 2.5% of the approved loan amount

    • Minimum – Rs. 2999

    • Maximum – Rs. 25,000

  • Prepayment 

    • Prepayment in full or part is not allowed until 12 EMIs have been paid

    • Part-payment is allowed up to 25% of the outstanding loan principal 

  • Prepayment charges 

    • For 13 to 24 months – 4% of the outstanding principal

    • For 25 to 36 months – 3% of the outstanding principal 

    • Beyond 36 months – 2% of the outstanding principal 

Eligibility Criteria for Personal Loans for Weddings from HDFC Bank

Applicants have to meet the following criteria to be eligible for personal loans from HDFC bank. 

  • The age of the applicant must be between 21 and 60 years. 

  • The applicant can be an employee of:

    • Private limited companies

    • Central and state governments and local bodies

    • Public sector undertakings 

  • The applicant must have been employed for at least two years, with a minimum of one year with the current employer

  • Must earn a minimum monthly income of Rs. 15,000. The minimum income criteria are Rs. 20,000 for cities like Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, Chennai, Cochin and Ahmedabad.

Documents Required for HDFC Wedding Loan

  • Identity proof – Applicants can provide any of the following documents: PAN card, passport, Aadhaar card, driving license

  • Age proof – Applicants can provide any of the following documents: PAN card, passport, Aadhaar card, driving license

  • Address proof – Applicants can provide any of the following documents: EB bill, telephone bill, rental agreement, the property title deed, or passport.

  • Income proof – Applicants have to provide any of the following: current salary certificate with Form 16 or latest salary slip. 

  • Job proof – Appointment letter from the employer or latest form 16. 

  • Bank proof – Bank account statement for the last three months. 


Say Yes to your Dream Wedding with Hassle-free Personal Loans from HDFC Bank

With easy loan approval, HDFC wedding loans are indeed a Godsend. Avoid draining your life savings or selling your hard-earned assets to pay for your dream wedding. Instead, apply for an instant personal loan from HDFC bank and make your big day the best day of your life, without falling into a debt trap.