Loans for marriage: financing offers for those who must get married

Loans for marriage: financing offers for those who must get married

With the warm season comes the “hot” period of weddings and these days many couples, and their families, ask for personal loans to face the costs of a marriage without seeing too much the bank account being drained. It is estimated that a traditional wedding ceremony, with about 100 guests, could cost from 35 to 60 thousand euros, figures objectively out of reach of too many people, so the use of a loan becomes the only solution to organize an unforgettable party that satisfies spouses and guests.

Monthly Installment wedding loan

Monthly Installment wedding loan

There are numerous banks and credit institutions that offer loans dedicated to those who intend to get married, provided that at least one of the two future spouses can count on a secure income, such as to convince the funding institution to satisfy the request. This typology is part of the finalized loans, which as is known are connected to the sale of a specific product such as for example the wedding dress, the wedding reception or the honeymoon. The loan is paid in monthly installments according to a specific amortization plan.

Personal loan

Personal loan

Secondly, you can opt for a personal loan, which is credited by the bank in a single solution, without necessarily having to specify how the money is spent. The loan for marriage generally allows to request from 1000 to 30 thousand euros (or even more in certain cases), with a repayment duration that usually includes between one and five years.

There is also a third possibility, reserved, however, only for public employees (including former employees and retirees): these are the so-called Government Agency loans, which consist of a request for a specific loan for one’s own marriage or that of a son or daughter ( no other types of kinship are allowed), with a maximum payable amount of 23 thousand euros gross and a five-year reimbursement payable in monthly installments up to 1/5 of the salary or pension.