Marriage Loan in India | Why You Should Not Take a Personal Loan For Marriage | MDS | EP: 269
Why You Should Not Take a Personal Loan For Marriage?
‘People avail personal loans for marriage, but availing personal loans for marriage is not a great idea at all.’ says C S Sudheer, the founder and CEO of IndianMoney.com. He is an experienced financial educator and personal finance expert.
Why it is not a great idea because when you get married and have kids it is difficult to service a personal loan in addition to living and academic expenses. Interest rate on personal loans is higher compared to other mortgages.
He has a piece of advice for people looking to get married. Make use of your savings and cut down the expenses on your wedding wherever possible. Keep the things simple to save on marriage expenses.
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