Calculate your Marriage Loan EMIs
Enter details to get EMI amount, total payable amount and interest amount.
Enter details to get EMI amount, total payable amount and interest amount.
10,000
5,00,000
1
34
1
72
Money should never hold you back from celebrating the most special day of your life. And that’s exactly where a marriage loan comes into the picture. Whether you’re running short on money to purchase your dream wedding outfit or your guestlist just became bigger, a wedding loan can help you bridge any kind of expenses. But before you take a personal loan for your wedding, make sure you calculate the EMIs for getting the best marriage loan offer. A marriage loan expense calculator can help you do that within minutes. All you have to do is enter your loan amount, interest rate and tenure and see exactly what your personal loan repayment plan looks like.
Say no to compromises and yes to your dream wedding. Use the personal loan for wedding to pay for the venue, decoration, catering, jewellery, photography, etc and enjoy the flexibility to repay at your convenience. Get a personal loan for marriage expenses online within minutes and without pledging any collateral.
One of the good borrowing practices is to calculate your EMIs before even applying for a personal loan. Doing this can help you choose a repayment plan that suits your budget and even stay prepared for any upcoming expenses.
Zype’s user-friendly marriage expense calculator is one of the quickest and easy ways of understanding what your repayment plan looks like. This is all that you need to do:
Enter the loan amount you’re taking
Enter the personal loan interest rate
With a marriage loan EMI calculator, you can adjust the tenure to figure out the EMI amount that works for you.
You can use the EMI calculator to compare loan offers from different marriage loan providers and choose the one that suits your needs.
Knowing EMI amount, total money payable and interest amount will help you decide how much loan should you take as the calculator clearly shows you the cost of the loan.
Here is the formula used to calculate EMI amount, total payable amount and interest amount:
E = P x R x (1+R)^N / [(1+R)^N-1], where
E is your marriage EMI amount
P is the amount you are borrowing from the marriage loan provider
R is the monthly interest rate
N is the no. of months of EMI payment
For example – Let’s say you want to avail a personal loan of Rs. 5,00,000 for wedding for a period of 12 months at a monthly interest rate of 1%.
Then, P (loan amount) = Rs. 5,00,000
R (interest rate) = 1%
N (loan tenure) = 12 months
Thus, EMI = 500000 x 0.01 x (1+0.01)^12 / [(1+0.01)^12-1] = 44,336
So, your loan EMI amount would be Rs. 44,336 for 12 months.
Marriage loan EMI is calculated using the formula P x R x [(1 + R) N / ((1 + R) N – 1].
P – loan’s principal amount
R – rate of interest
N – loan’s duration in months.
The repayment period for a wedding loan could be anywhere between a few months to a few years.
With Zype, you can choose a convenient EMI option of 6, 9, or 12 months.
A marriage loan calculator is an EMI calculator for marriage loan that can help you understand the monthly repayment of different loans. Doing this before applying for a loan can help you budget better and get the best loan offers from lenders.
Zype’s personal loan for marriage is the perfect option for covering any wedding-related expenses. You can get a personal loan up to ₹5 lakhs starting at a 1.5% interest rate.
Yes, a marriage loan is the best and easiest way of bridging any planned or unplanned wedding expenses so you don’t have to compromise on your special day.
This is what you need to get a marriage loan from Zype:
On Zype, you can get a personal loan for marriage without any document upload or paperwork. All you need is your PAN and Aadhaar number to complete your application and unlock your loan offer.
People take loans for marriage if they don’t want to use their savings or to cover any kind of wedding-related expense that’s going over budget.
Based on the theme, location and number of people invited to the wedding, the budget for middle-class marriage in India can range anything between ₹15 lakhs to ₹25 lakhs.
In today’s time, the wedding costs are equally split between both families of the couple. A couple can consider taking a personal loan for the wedding if they want to cover their wedding expenses without borrowing money from their family
The money you need for a wedding depends on many factors like the destination, number of people, theme of the wedding etc. However, the average budget of a middle-class marriage in India can be between ₹15 lakhs to ₹25 lakhs.
Take your first step towards financial freedom
Copyright © 2024 Easy Platform Services Pvt Ltd. All rights reserved.
