Do you make wedding plans, but are you a little too short to finance your dream wedding? Then a wedding loan is suitable for you. In this blog we will elaborate on the many benefits that a wedding loan has to offer you.
Which costs do you have to take into account?
Getting married costs money. There are a lot of costs involved in organizing a wedding party. Just think of the costs for the room, the caterer, a DJ or music band, flowers, a photographer, and so on. You can also count the wedding rings.
Because many people dream of a perfect wedding day and have certain wishes in mind, the available budget sometimes falls short. That is why it can be useful to use a marriage loan. So you do not borrow the full pot, but you supplement your budget with the missing financial resources.
What is a wedding loan?
A wedding loan is actually a personal loan . You can apply for a personal loan without having to justify a specific purpose. In other words: you choose what you spend the money on: the caterer, a rings, a honeymoon, etc.
After granting the loan, the bank will transfer the money to your account in its entirety . You don’t even have to present proof of payment to justify those purchases. The only obligation you have is to pay off the loan with monthly repayments.
What are the benefits of a wedding loan?
1. Fixed duration
A wedding loan or personal loan always has a fixed term. That means that you and the bank decide in advance how many years you want to pay off the loan. Keep in mind that most personal loans have a maximum duration of 10 years .
2. Fixed repayment amount
When taking out the personal loan, you also know exactly what amount you will have to pay off each month, because the monthly amount is fixed. You will therefore not be faced with unexpected costs or surprises.
3. Fixed interest rate
A mortgage loan may have a variable interest rate, which may fall or rise during the term of your loan. This is not the case with a personal loan. You will receive a fixed interest rate. You pay the same interest every month .
Are you looking for a wedding loan?
Are you interested in a wedding loan to help finance your wedding day? Most financial institutions and banks, which gives us a perfect overview of the usual interest rates and personal loans.
Feel free to drop in. In a confidential conversation from person to person we together look at your financial situation, your needs and the possibilities that present themselves.