Tight on wedding expenses? Banks are offering marriage loans!

From lower-income to middle-class families, managing these wedding expenses often leads to a budget crunch. The good news is that various banks in the country now offer “marriage loans”, which many are using to ease the financial burden of wedding arrangements.
 

What is a marriage loan?
A marriage loan is essentially a type of personal loan, primarily taken from banks to cover wedding expenses. These loans are usually available without collateral and can be repaid in monthly installments. The loan amount ranges from 25,000 BDT to a maximum of 2 million BDT, with a repayment period of up to 5 years.
 

Who can apply for this loan?
People from various professions such as salaried employees, business owners, doctors, and landowners can apply. However, factors like monthly income, type of job, experience, and age are considered.

For salaried individuals, a minimum monthly income of 30,000 BDT is required, while for others, it should be at least 40,000 BDT to increase the chances of loan approval.
 

Which banks provide these loans?
Several banks in the country offer specialized marriage loans, including Uttara Bank, NCC Bank, Simanto Bank, UCB, and Mutual Trust Bank. Additionally, most banks provide marriage loans under personal loan schemes.
 

Loan offers from banks:

• NCC Bank: Offers marriage loans under personal loan schemes, ranging from 100,000 to 2 million BDT, repayable in 1–5 years. Eligible for salaried employees, landowners, and business owners. Salaried individuals need a minimum monthly income of 30,000 BDT, and others 40,000 BDT.

• Uttara Bank: Offers loans from 25,000 to 300,000 BDT, repayable in 1–3 years.

• Mutual Trust Bank: Offers 200,000 to 2 million BDT for marriage under personal loan schemes. Available to salaried employees and business owners aged 21–65.

• UCB: Provides loans up to 2 million BDT, repayable within 5 years. Eligible for salaried employees, doctors, business owners, and landowners.

• Simanto Bank (for BGB members): Available only to active BGB members. Loans primarily cover the member’s own marriage but can also be used for their child’s wedding. The loan range for general members is 50,000 to 500,000 BDT, repayable over 1–5 years. Applicants must be permanent BGB members with at least 6 years of active service. Age must be 25–40, though for children’s weddings, up to 56 years is allowed.
   

Documents required:
To apply for a marriage loan, banks usually require National ID, passport-size photos, proof of employment (ID card or appointment letter), last 3–6 months’ pay slips, bank statements, Tax Identification Number (TIN) certificate, and in some cases, a No Objection Certificate (NOC).
 

Since the loan is taken for a specific purpose, banks may also request wedding cards, medical papers, or travel plans, along with two recent passport-size photos of the bride and groom.
 

Many say that unnecessary social competition has turned weddings into a financial battlefield. However, marriage is more than just a ceremony it is the union of two lives. Therefore, it is crucial to ensure that the significance of this important day is not overshadowed by financial burdens.