Marriage loan interest rates in India 2026: What you must know

Weddings are a serious affair, especially in a country like India, where every culture has many traditions and rituals. Spanning across days, the costs can quickly add up. Despite your best efforts, going over budget is not surprising. That’s why many banks and financial institutions offer a marriage loan. It comes with easy terms and competitive interest rates. This guide uncovers the marriage loan interest rates in 2026.  

Current marriage loan interest rates in India
 

With more lenders entering the market, the credit space is getting borrower-friendly with competitive interest rate for a personal loan for wedding. You can choose to apply with banks, non-banking financial institutions (NBFCs), or fintech platforms.

Here’s a brief look at how the marriage loan interest rate is structured across these lender categories in 2026:

Note: The table illustrates the average wedding loan interest rates across lender categories. The exact interest depends on your eligibility. Also, they are subject to fluctuation as per the RBI repo rate and lender policies.

Hence, it is best to compare on lenders’ websites and use the marriage loan EMI calculator to gauge the approximate EMI and total interest payable.  

Factors affecting the wedding loan interest rate
 

The advertised interest rates are only indicative. The actual rate is determined based on your financial and credit profile. Here are some of the main factors that lenders typically consider finalising the wedding loan interest rate:

· Age
 

Most lenders offer a marriage loan to applicants aged between 21 to 60 years.

· Credit score
 

A credit score is a three-digit number indicating your repayment history. It lets the lenders know your past repayment behaviour, which helps them judge your creditworthiness. Typically, a credit score higher than 750 boosts your eligibility.

· Income and employment
 

You must have a steady and high enough income to comfortably manage the loan cost. Hence, lenders ask for your income details and employment. They check if you are working in an established company. For self-employed applicants, the profit record and business stability influence eligibility.

In the case of digital-first lenders like IDFC FIRST Bank, you don’t need to upload any documents for a personal loan. The entire application process is 100% online and you just to enter your PAN and Aadhaar number during application and show your original PAN card during video KYC.

· Loan amount
 

The amount you borrow directly influences the interest cost. Borrowing high may lead to a high interest rate and vice versa.

· Repayment tenure
 

You have the flexibility to choose the repayment tenure you are comfortable with. You can either go for a longer tenure to stretch out your EMIs or a short tenure for quick settlement. The former attracts a higher marriage interest rate than the latter.

FIRSTmoney smart personal loan by IDFC FIRST Bank, comes with flexible tenure options ranging from 9 to 60 months.

· Debt-to-income ratio
 

If a large part of your monthly income already goes toward EMIs for a home loan, car loan, credit cards, etc., your repayment capacity is compromised. This makes you a high-risk borrower. Hence, it affects the wedding loan interest rate.

How to get the best marriage loan interest rate
 

Now that you know what exactly influences the personal loan for a wedding interest rate, you can take actionable steps to improve your profile. Make these smart moves to stand out as an applicant for the lowest interest rate:

· Borrow only what you need
 

Wedding expenses are unpredictable, with last-minute upgrades and hiked fees from service providers. So, it would seem like borrowing more will create a much-needed buffer. But in reality, you end up attracting a higher interest rate. Hence, consider the overall cost and borrow practically.

· Strengthen your credit score
 

As you plan for your wedding, along with the budget planning, it helps to prepare for the loan months in advance. This gives you time to review your credit score and take the necessary steps to improve it. You can review your credit report for errors and dispute them. For overdue payments, clear as much as possible.

· Choose a practical tenure
 

You want to create a balance between convenience and practicality when you choose a loan tenure. Avoid spreading it too thin as the interest rate can rise. If your financial situation allows, try going for a shorter tenure. This presents you as a responsible borrower.

· Maintain a low debt record
 

Having a high disposable income is favourable as a wedding loan applicant. So, if you have existing debts, try to reduce the overdue amount to make space for the new loan. This will improve your repayment capacity, which loan providers will reward with a good interest rate.

· Compare loan offers
 

Besides your personal efforts, you can also find a low-interest rate for marriage loan through attractive offers. A bit of research is all it takes to get a good deal. So, take your time comparing various lenders based on the interest rates they offer.

· Negotiate with the lender
 

If you have a favourable credit profile and an existing relationship with the lender, you can negotiate a better interest rate. So, if you already hold a savings account, credit card, or a loan record with a lender, ask if they are willing to offer concessions.

Hidden charges that add to the wedding loan cost
 

Besides the marriage loan interest rate, lenders may also include several additional charges that often go unnoticed. It is important to consider them to get a better understanding of the overall loan cost.

· Loan processing fees
 

Typically, you are charged up to 1%-3% of the loan amount as processing fees for the evaluation of your loan application.

· EMI bounce charges
 

If you have automated your EMIs through bank transfers, there are instances when the payment may fail due to insufficient balance. You incur a penalty in such scenarios.

· Foreclosure/prepayment charges
 

If you are in a position to pay more than your EMI, you can do so subject to a foreclosure/prepayment charge. So, if your year-end bonus or variable income allows you to prepay, check the payoff compared to the cost to make a decision.

· Late payment penalty
 

Missing your EMI due dates attracts a late payment penalty. This is charged as a percentage of the unpaid EMI amount, which affects your total borrowing cost.

· Stamp duty
 

Stamp duty is applicable for marriage loan agreements. The cost varies as per the state laws.

· Documentation charges
 

Over the course of your loan application and repayment, you incur varied documentation charges. This includes a fee on duplicate NOC issuance, physical account statement/repayment schedule, and document retrieval.

· EMI pickup/collection charges
 

If at any point during your repayment tenure, a manual EMI collection is required, lenders may levy a nominal fee for such pickup.

IDFC FIRST Bank marriage loan: Interest rate and key advantages
 

If you’re comparing lenders for the best marriage loan interest rate, IDFC FIRST Bank stands out with its competitive interest rate and zero foreclosure charges. Let’s take a closer look at IDFC FIRST Bank FIRSTmoney instant wedding loan advantages:

· Affordable interest rate
 

The interest rate starts at 9.99% p.a., finalised based on your age, income, employment status, and credit score.

· Sizeable loan amount    
 

You can borrow up to ₹10 lakhs to fund a range of wedding expenses like the venue, catering, decoration, hair & makeup, photographer, etc., comfortably.

· Fully digital application
 

You enjoy the convenience of applying for a personal loan from the comfort your home. You can get through the entire process in a matter of taps, and get disbursal within 30 minutes.

· Multiple on-demand loans
 

Marriage expenses can sometimes exceed the expected budget despite a loan. So, if you feel the need for additional funding requirements, you can withdraw from your approved loan offer as and when you need the funds without reapplying from scratch.

· Zero foreclosure charges
 

To make repayment easier and enable you to go debt-free early, IDFC FIRST Bank waives the foreclosure charges. Thus, you can freely close the loan whenever you have bonus income.

· Simple eligibility
 

You only need to meet basic eligibility conditions like the 21-60 years age range, a credit score above 710, and a stable income record to qualify for the loan. This is accompanied by a no paperwork process.

· Instant approval & quick disbursal
 

If you meet the eligibility criteria, the loan application is processed quickly, and the funds are disbursed to your bank account in under 30 minutes.

Final words
 

Now that you know how lenders determine marriage loan interest rates, you can confidently plan your application and wedding budget. While comparing interest rates listed on the lenders’ website is helpful, it is also critical to acknowledge that it is a part of a bigger picture.

Your eligibility ultimately decides the interest rate you get. So, it’s best to lead with comparisons, preparation for a loan application, and repayment planning. A thoughtful approach like this takes off the pressure of borrowing and lets you ease through the process of funding your wedding.