36% annual interest on wedding loans reported in India, with 20% of 20-30 aged Indians' loan applications targeting wedding financing in 2018-2019.
36% annual interest on wedding loans is reported in India, driven by increased spending, with 20% of 20-30 aged Indians' loan applications in 2018-2019 targeting wedding financing. Banks offer lower rates than Non-Banking Financial Companies (NBFCs), which charge higher due to funding costs and dealing with weaker credit histories. This trend signals a shift towards financial independence and couples' contributions to wedding expenses.
June 29, 2024
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