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Product Details
Bank Name
IDFC First Bank
Minimum Loan Amount
Up to ₹1 crore
Interest Rate
starting at 10.75% interest
Minimum CIBIL Score
Minimum Loan Tenure
84 months
Marriage loan
Fees and Charges
processing fees. It is offered at 3.5% and is deducted from the bank loan for marriage at the time of loan disbursal.
EMI bounce charge, which comes up to ₹400, is also applicable each time you miss a wedding loan EMI. Both the duplicate statement of account and duplicate no objections certificate cost ₹500. Document retrieval charges also add up to ₹500 each time the documents need to be retrieved.
Also, 5% of the entire bank loan for marriage is charged as foreclosure fees if you decide to foreclose the loan before its time. Lastly, 2% of the unpaid EMI or ₹300, whichever is higher, is charged as an overdue interest.
Eligibility
Personal loan for marriage eligibility for IDFC FIRST Bank is broken into two categories: personal loans for marriage for salaried individuals and instant personal loans for marriage for self-employed individuals. The eligibility criteria are as follows:
For salaried people
Age limit: 23 years old at the time of the application
Maximum age: 60 years or retirement, whichever comes first, at the time of loan maturity
Self-employed people
The company must have been in operation for at least three years
Age requirement: 25 years old at the time of the application
Maximum age: At the time of loan maturity, you must be 65 years old
Special Concession
Fees, Eligibility and Concession
Pros
Cons
Pros and Cons
Purpose
Prospective personal loan borrowers can avail IDFC First Bank Marriage Loan to meet their wedding related expenses.
Special Features
Purpose and Features
How to Apply?
Documents Required
Account Opening and Procedures
Application Procedure
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