Finally, you found the one for you! Why not make your wedding day the most memorable one? Tie your knots in the best place you possibly could. Weddings in India are celebrated like festivals with full enthusiasm. Bringing a royal touch to the wedding is the new FOMO. The first place that comes to mind when thinking of a destination wedding is The City of Lakes – Udaipur. The palaces, lakes, hotels, and resorts will typically give a royal touch to your destination wedding packages.
Are you wondering about the cost factor? Well, here’s a guide giving a complete cost analysis for a destination wedding in Udaipur and a tip to finance the same.
Factors affecting the cost
For any destination wedding, the factors play a significant role when forecasting the cost. These are:
- The number of guests: The number of guests directly affects the costs associated with the venue size, food, stay, etc. However, one of the common trends related to destination weddings is that the number of guests often gets restricted to 150-200 people. Therefore, the foremost step is to finalise your guest list.
- The number of days: Marriage in India is not a one-day function. It often extends from 4 days to a week. However, in the case of destination weddings, it’s always recommended to complete all the events within 2-3 days to avoid overspending.
- Venue: Venue is the primary factor that affects your cost. Udaipur has everything to offer for your destination wedding, be it a royal palace, a luxurious hotel, or a resort.
After finalising the above factors, you can move ahead with cost determination. Generally, a destination wedding in Udaipur for 2-3 days with a guest list of around 150 people can cost up to Rs 40 lacs to Rs 60 lakhs. However, this estimate can be significantly influenced if you go for royal palaces or luxurious hotels for your wedding destination.
Best way to Finance your Destination Wedding
Indian families have always been proactive for costs associated with weddings and already have years of savings exclusively to meet wedding expenses. While you have the estimated idea for your wedding costs, you may wonder how to meet the shortfall. This is where personal loans come into the picture.
Personal loans are the financing facilities extended by banks and financial institutions that come with unrestricted end-use. Simply put, funds availed from personal loans can be used for any purpose, be it medical emergencies, business, education, travel, and in your case, the destination wedding. Following are the benefits of using a personal loan for your destination wedding:
- Affordable Interest Rates: Personal loan interest rates begin from 11% per annum. This is the reason why it is the most affordable unsecured lending arrangement. If you are still in a dilemma, remember that credit card companies charge a 24%-36% interest rate per annum.
- No Collateral: Personal loans, being unsecured, you don’t need any kind of collateral security. Thus, your assets are free and with you always.
- Easy Eligibility Criteria: Personal loan criteria are easy to fulfil. Any individual, whether salaried or self-employed aged between 22 and 58 years with a minimum monthly income of Rs. 15,000 and a work experience of at least one year can avail a personal loan. As simple as it sounds!
Personal loans are the reason behind fulfilling the dreams of an end number of people. Make your wedding day grand without worrying about the finances. With financial tools like the personal loan EMI calculator, you can pre-plan your budget and expenses by entering the loan amount, tenure, and the personal loan interest rate. Therefore, tie your knots with the best person in the best destination.