The Marry Now Pay Later scheme also has the possibility of paying the wedding loan in comfortable installments.
In this scheme, a client can get a maximum loan of Rs 25 lakh.
Loan approval in 4 to 6 hours and facility to pay EMI from 6 to 12 months.
New Delhi. Loans are available from the home to the car and to meet many of life’s necessities. In the era of the growing trend of credit cards, now the financial companies come up with many offers. In this episode, to make the greatest event in life i.e. marriage memorable, the marriage loan facility is now also available. my pay letter now (Marry now, pay later) With the help of this, you can spend a lot of money on your marriage. This loan can become a very beneficial deal for those people who do not want to spend the full amount of the wedding.
However, many fintech companies are already providing the BNPL Buy Now Pay Later service. In which you can pay the entire amount in comfortable installments after the purchase. Well, in the same way, fulfilling your hobbies in marriage and covering the huge expenses incurred in them can be easily done through my now pays later scheme.
Currently this facility is available in Delhi-NCR
Taking into account the demand for these types of loans in the wedding sector in the country, the travel fintech platform Sankash has launched the Mary Now Pay Later scheme. The company wants to gain a foothold in the country’s growing wedding market. The company has started this scheme by linking up with the best hotels in Delhi and now plans to expand it to other states as well.
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The MNPL scheme will be available in many states
Akash Dahiya, co-founder and CEO of fintech company SanKash, told Moneycontrol: “We launched this scheme as a pilot project at Radisson Gurugram and Delhi NCR. Where we received more than 100 requests in 20 days and the total spend on marriage was around 8 crores. Akash Dahiya said that this facility is also available in Rajasthan and Madhya Pradesh and we are going to start offering MNPL across the country gradually. By the end of this year, this facility will be available at all Radisson hotels.
25 lakh loan for marriage and its conditions.
Under the ‘Meri Now Pay Later’ scheme, a customer can get a maximum loan of Rs 25 lakh and the repayment tenure can be either six or 12 months. Anyone can apply for this scheme and after meeting all the eligibility conditions, the loan will be approved within 4 to 5 hours. However, before granting a marriage loan, the fintech company will evaluate the repayment capacity of the loan and other aspects of the clients.
During this, the applicant must provide documents such as ID and proof of address, bank statement, salary receipt and ITR (Income Tax Declaration) included. This category belongs to unsecured personal loans (MNPL) and the underwriting terms will be similar to those of a personal loan. “CEO Akash Dahiya said that the company is preparing to disburse a Rs 100 crore loan in FY24 through the MNPL scheme. There are around 35 lakh couples who are getting married this year.
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Tags: Bank Loan, NBFC, Wedding
FIRST POSTED: Mar 19, 2023, 12:28pm IST