Loan for Marriage: Which to Choose?
Have you and your other half decided to get married? It is a wonderful and very important event. But where to start? Wedding dress, location, catering, wedding favors, flowers, invitations, make-up and make-up, jewelry and more, the house, the furniture, the honeymoon…
You begin to realize that the costs to be faced are many, perhaps too many, both for you and your parents, but do not worry because fortunately there is a simple solution to organize the wedding of your dreams without difficulty. Just request a loan or a fifth assignment to solve all the problems! Let’s see what are the types of marriage loan and which are the most suitable for every need.
Assignment of the fifth for marriage
The best loan for marriage to be requested is the salary assignment and the salary transfer. The parents work as public or private employees or are retired, or the spouses themselves, can request it by taking advantage of numerous advantages. First of all, the fifth transfer rates are fixed and lower than all other forms of financing, it is not necessary to present guarantees, the installments are fixed and they do not have to be paid monthly because they are withheld from salary or payroll and the amount of installment may not exceed one fifth of the salary or pension.
Finalized marriage loan
The finalized marriage loan is useful for paying only one retailer, for example for the purchase of the wedding dress, for the catering or for the location. In practice, a request is made to the credit institution of the retailer to whom it is addressed and, if the request is positively accepted, the credit institution will pay the entire amount to the retailer and the parents of future spouses or the spouses themselves, will be able to pay the full amount in monthly installments.
The loan finalized by marriage is useful in the case in which it is necessary to cover only one type of expense because the amount goes directly to the supplier to whom one turns. In the event that there are several suppliers to be paid, it is more appropriate to request an assignment of the fifth or an unfinished loan.
Lending to non-finalized marriage
Requesting a loan for a non-finalized marriage allows you to use the amount required to pay the different suppliers without having to limit yourself to a single expense.
To apply for a marriage loan, you need to prove that you are able to repay the loan and you often have to present additional guarantees to credit institutions as a guarantor or collateral, but this depends on the bank you are targeting.
In the non-finalized loan the interest rates are usually higher than the finalized loan and the fifth one and you have to pay the monthly installments punctually because otherwise the parents or spouses risk being reported to the databases.