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Mistakes to Avoid While Applying for a Wedding Loan

Clix February 17, 2021


A wedding loan is a type of collateral-free personal loan that you can use to cover your wedding expenses and make your day truly memorable. With a loan amount of up to ₹ 25 lakh, you can fund all your wedding-related expenses without worrying about the finances. If you are feeling cash-strapped before your wedding, a marriage loan can be your best form of rescue. It gives you the freedom to utilize the funds to meet any requirement, be it to buy an expensive wedding dress, book a top wedding venue, or buy jewellery for the wedding.




An aspiring borrower with a stable income can easily apply and avail of a personal loan for wedding through an online application within 24 hours. However, when you are in desperate need of money, you may overlook certain things that can lead to loan rejection. So, if you are planning to apply for a wedding loan, avoid making these common mistakes to ensure a smooth application and approval process.


Seeking Loan When You Don’t Actually Need It

With several lucrative loan offers available these days, some people make the mistake of taking a loan even when they don’t actually need it. As a result, they end up unnecessarily enrolling themselves for a loan for which they need to pay an interest rate along with other charges. If you fail to make your repayments on time, you end up spending even more on late payment penalties and extra interest charges, apart from damaging your credit score.


Tip: Always take a loan only if you need it to meet your wedding-related expenses.


Taking a Bigger Loan Amount Than Your Requirement

With an easy application and approval process, taking a big amount of loan of up to ₹ 25 lakh has become quite simple and straightforward these days. But being able to take a big loan amount does not mean that you should take as much as you can. A higher loan amount will only increase the amount of your EMIs and interest amount, thereby putting an additional burden on your finances through the loan term.


Tip: Take some time to evaluate how much loan amount you actually require and apply for that amount only.


Not Checking the Credit Score

A credit score of over 700 often works in your favour to get a personal loan for marriage. Such a score not only ensures easy, fast, and hassle-free loan approval, but also brings better loan repayment terms. Many people don’t check their credit score before applying for a loan. As a result, they end up with a loan rejection that further reduces their credit score.


Tip: Don’t apply for a personal loan without checking your credit score. If it is lower than 700, use the tips mentioned in this blog to improve it first, and then apply for a loan. Also, go through your credit report and get any errors fixed, as even a single error can affect your credit score.


Ignoring Your Capacity to Repay

Many people apply for a wedding loan without evaluating their capacity to repay. They don’t calculate their EMIs beforehand. Some people also do not think about the interest charges and other fees they have to pay at the time of taking a loan. This ultimately disturbs their budget and causes a financial crunch.


Tip: Make it a point to know your EMIs and ensure that you can afford them for a period of 12 to 48 months. Use a personal loan EMI calculator to calculate your EMIs. Remember, ideally, they should not be more than 30-40% of your monthly income.


Overlooking the Fine Print

When you apply for a loan, there are certain terms and conditions written in the fine print. Most people do not take them seriously and overlook them while taking a loan. But in reality, these fine prints contain useful information that may help you in times of need. For instance, if your finances stabilise and you decide to pre-close your loan, these fine prints may contain information about how to do that and what charges you have to pay to do it.


Tip: Ignoring the fine prints can sometimes end up with surprises that you were not ready for. So, always read them before applying for a personal loan.


Applying for Several Loans from Different Lenders

When you are in need of money and you want to get a loan much before your wedding date, it may seem wise to apply with different lenders. If one lender rejects your loan application, you at least have other options still open. But this is one of the worst mistakes you can make, as it will not only reduce your credit score but also ruin your chances of loan approval.


Tip: Instead of applying to several lenders, compare the available options and apply to the most suitable one. Lenders like Clix Capital have simple Doing this will maximise your chances of approval without affecting your credit score.


Failing to Pay EMIs on Time

Once you get your wedding loan amount, it’s easy to get busy in your new life and forget about paying EMIs on time. It seems to be a no-brainer, but you need to understand that many people do forget their EMI payments and end up paying unnecessarily for late payment charges and additional interest rates. Remember, each single missed payment gets recorded in your credit history, and too many of them eventually affect your credit score negatively.


Tip: Mark EMI payment dates on your calendar, set reminders on phone, or set up automatic transfers through your online banking system. By doing this, you will never delay or miss your EMI payments.


The abovementioned tips will help you and go a long way to ensure the best loan selection and timely repayments. A personal loan for wedding from Clix Capital can be a great tool to fund your wedding-related expenses.


Looking for a personal loan with which you can meet your wedding expenses? Look no further than a wedding loan from Clix Capital. We strive to make the online loan application process extremely easy, fast, and hassle-free. So, wait no longer. Just fill our application form here, get your documents verified online, and accept the loan offer. If everything’s fine, you will have your loan disbursed within 15 minutes*


For any queries, find us on Facebook, Instagram, Linkedin, Twitter, or Whatsapp

You can also reach out to us at or call us at 1800 200 9898


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