ICICI Bank marriage ceremony mortgage defined: Interest charges, eligibility, and paperwork | Mint

As marriage ceremony associated bills proceed to rise within the nation, many {couples} are actively exploring monetary resolutions to handle prices effectively.

ICICI Bank offers for marriage loans, to assist aspirational debtors in serving to them meet numerous marriage ceremony associated bills from venue reserving to apparel, catering and so forth.

What is a wedding mortgage?

A wedding mortgage is also referred to as a marriage mortgage. It is a kind of a personal loan which is designed to help people who require funds to cowl the expenditure associated to their weddings.

This explicit kind of mortgage covers broad bills reminiscent of decorations, jewelry, venue bookings, catering, bridal apparel amongst different related bills.

ICICI Bank offers eligible candidates the chance to safe a collateral free marriage mortgage of as much as ₹50 lakhs relying on all such candidates assembly the required eligibility standards.

Here are six easy step-by-step information by which you’ll be able to avail an ICICI Bank marriage mortgage on-line in seamless trend:

Key options of ICICI Bank marriage loans

• Total mortgage quantity: The financial institution offers a mortgage of as much as ₹50 lakh, relying on eligibility of the applicant.
• Applicable rates of interest: These loans begin from 10.85% every year.
• Flexibility in reimbursement tenure: The financial institution additionally offers for versatile reimbursement choices starting from 12 to 72 months.
• No want for any collateral: No collateral or guarantor required whereas availing a wedding mortgage from ICICI Bank.
• Usage of those funds: Funds availed underneath this mortgage product can be utilized for numerous marriage ceremony bills with none end-use restrictions.

Note: The rates of interest, phrases and circumstances mentioned above are illustrative in nature. For the up to date phrases, circumstances and rates of interest relevant in your case consult with the official web site of ICICI Bank and talk about your doubts with a chosen customer support govt.

Basic eligibility standards

• Age: Applicants needs to be between 21 and 58 years previous.
• Employment: Both salaried people and self-employed professionals with a daily earnings are eligible, offered they’ve proof of the identical throughout utility submission.
• Credit rating: credit score historical past and a excessive credit score rating is most popular.

For extra particulars, clarifications and backbone of doubts associated to marriage loans supplied by ICICI Bank, go to the official web site of the financial institution.

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