Young people try to organize a wedding in such a way that it will be remembered by them for the rest of their lives. The organization of a large holiday requires a significant amount of money since the wedding is accompanied by spending on registration, organizing a banquet, renting a car for the bride and groom, buying dresses for the celebrants, and so on. When there is not enough money for everything, you have to give up your dream or look for a bank that is ready to provide a loan for a wedding.
Counting the cost
When contacting the bank, you should know how much money will be required for the wedding event, and for this, you need to do calculations. These calculations may be approximate at the initial stage and include; buying wedding rings and dresses for getting married, video and photography of a festive event, searching for specialists in organizing wedding events, renting a Banquet hall, staging a wedding dance, renting cars, wedding travel and wedding night. On average, it turns out that the organization of a wedding requires about 450-900 thousand. The amount is serious and not everyone has it.
After making a list and counting, you can cross out some items of expenditure to minimize spending or reduce the amount of certain items. Young people will have to decide what to do on their own or together with their parents. The loan is quite large if very young people get married, they may not have enough work experience or salary. After receiving a refusal, a young couple usually turns to their parents to arrange a wedding loan.
The complexity of the wedding loan
Apply to the bank for a wedding loan should only be in cases where it is impossible to find other means to hold such an important celebration. The option of rescheduling the date in an attempt to accumulate the necessary amount, in this case, is not appropriate. Young people want to tie themselves together as soon as possible, but they will have to spend 5-10 years trying to accumulate the necessary amount.
If you do not find any other way out, you will need to make an accurate estimate before issuing a bank loan, which will take into account everything to the smallest detail. It is better to take a loan a little more than the estimated amount. If the funds remain, it is better to return them immediately back to the lender. Unrecorded credit money may be required for expenses that were forgotten to be included in the estimate or under force majeure circumstances.
Banking institutions have not yet developed targeted programs of loans issued for the organization of a wedding, so we have to choose among standard consumer lending programs. When submitting an application, you must provide the lender with a copy of your employment record and income statement. The most common situations are when a loan for a wedding is issued by parents, and young people become guarantors for such a loan.