A wedding loan is a type of simple personal loan which is taken by the borrower for his marriage from any finance company or bank at a reasonable rate of interest. The demand for wedding loans in Australia is increasing day by day. A survey conducted by the Australian Security and Investment Commission (ASIC) revealed that 60% of online response users do believe that they take personal loans and use as marriage loan for financing their weddings.
Your wedding day is one of the happiest days of your life, and you never want to miss this moment and want to make it the most memorable. But, it is also a fact that weddings need cost a lot and requires money and a wedding loan is a great option.
How to get a Marriage loan in Australia
To apply for a marriage loan in Australia-
- You must first be 18 years old and have Australian or New Zealand citizenship or Australian permanent residency.
- You should meet the minimum income requirement set by the finance company or bank for getting a wedding loan.
- You should be an employed or a regular income person.
- The bank also ensures that you have a good credit rating and do not be going through the process of bankruptcy.
After this the bank considers your marriage loan eligibility and provides you marriage loan.