7 Ways To Get a Personal Loan Without CIBIL Score
With the introduction of banking and non-banking financial corporations in India, it’s not difficult to borrow a loan anymore.
50Fin
June 4, 2025
6 min read
Marriages and grandeur celebrations are synonyms in India.
According to a report published by the Economist, the wedding industry is the fourth-largest industry in India, recording a huge spending of US$ 130 billion per year.
However, with such expenses come expectations. And with such expectations comes the requirement of loans too.
Here’s a detailed list of the types of loans you can borrow for a marriage in India.
One of the most popular and widely accessible options for financing weddings in India is through personal loans.
And not just that but one of the best types of personal loans is a loan against mutual funds.
Mutual fund loans have gained quite a reputation for being secure and quick, unlike traditional loans.
Just as they sound, mutual fund loans allow you to borrow funds without losing ownership over your mutual fund units.
You use your mutual fund units as collateral. This way, you continue your long-term investment plan while meeting short-term cash-strapped situations. The amount of money you can borrow depends on the total worth of your mutual fund units.
50Fin can help you get a loan against your mutual funds in a few simple steps.
Typically, your loan gets approved within 7 minutes and the amount is disbursed into your bank account in 4 business hours.
The interest rates are super affordable and as low as 10.5% per annum. Offering your mutual fund units as collateral reduces the level of risk for the lender, making it a secured loan – for both the lender and the borrower.
Gold has long been a symbol of wealth and security in Indian households.
Gold loans are a popular option for funding weddings because many Indian families possess significant gold jewelry, which can be used as collateral to obtain a loan.
Key features of gold loans include:
If you have a fixed deposit (FD) in your name, you can take a loan against it to finance your wedding expenses.
This type of loan comes with several advantages:
Lower Interest Rates: The interest rate on loans against FDs is usually 1-2% higher than the FD interest rate, making it a cost-effective option.
No Premature Withdrawal: Borrowing against your FD allows you to continue earning interest on the deposit while utilizing the loan amount for your wedding.
Quick Disbursal: Loans against FDs are typically processed quickly since the lender already holds your deposit as collateral.
Use Case: This is a great option for individuals with significant savings in FDs who don’t want to prematurely withdraw their funds and lose out on interest income.
For individuals who own real estate, taking a loan against property is another viable option to fund wedding expenses. A loan against property (LAP) offers:
However, it’s important to note that since the loan is secured against property, failure to repay can result in the lender seizing the property.
Use Case: Ideal for individuals who own valuable real estate and require a significant amount of money for a grand wedding.
Top-up loans can be described as additional credit or an amount on top of your existing home loan.
Many borrowers opt for this lending option as a top-up loan doesn’t come with any end-use restrictions.
While this loan is simple and easy to avail, many banks transfer this loan linked with your current home loan to other financial institutions.
Use Case: It is an ideal option when home loans aren’t sufficient, you can go for top-up loans to meet your financial needs.
While it may come as a surprise, you can get a loan against insurance policies.
Insurance with endowment and money-back policies are highly eligible for such loans.
The reason is simple: they have maturity value.
Thus, you aren’t eligible without maturity value.
Also, if you have unit-link plans, you can’t avail loans against your insurance.
This happens because the returns aren’t fixed and are highly dependent on the market performance, much like variable loans.
It must also be noted that the only way you can opt for a loan against insurance policies is when you have received the surrender value.
Surrender value is an amount you get only when you’ve made premiums regularly for three consecutive years.
Use Case: Borrowers with insurance policies like money-back and endowment.
A Flexi loan is a highly flexible loan that is linked to your bank account.
The loan payments are automated through this account and you can withdraw the money whenever you want.
And the best thing about this loan is that you can get home loans with lower interest rates if you save money in this account.
Generally, the processing fee of a Flexi loan is 3.93% of the loan amount but it may vary from bank to bank.
Use Case: Anybody who is also interested in seeking a home loan.
Selecting the right type of marriage loan depends on several factors, including your financial situation, the amount you need, and your ability to repay the loan.
Here’s a quick comparison to help you decide:
Weddings are like fairytales in India. And this is where our indulgent nature gets exposed.
While not everyone is capable of spending without bounds on their wedding, we do find ways to finance it to meet our vision.
And this is when we seek marriage loans.
There are 7 popular ways you can secure a loan to finance a wedding of your dreams, including gold loans, and loans against fixed deposits.
The best lending option, however, has to be a personal loan against your mutual funds.
Sign up with 50Fin and get your loan approved within minutes.
No delays or excessive paperwork, we promise.
