Marry Now Pay Later – Trending Scheme For Life Event
Marriage is a significant Life Event , that happens once in a lifetime, Every Parent in entire World keep aside some funds for their Children`s Marriage. Most of the investment of Life , goes into this Life Event.
Marriage is a significant Life Event , that happens once in a lifestime, Every Parent in entire World keep aside some funds for their Children`s Marriage. Most of the investment of Life , goes into this Life Event.
Well Saving & spending is good , but spending a huge chunk of earning seems waste and that too with no absolute return.
So Let`s talk about “MNPL” Policy….
In this Policy , you only have to pay amount as an EMI on Installment Basis , rather than investing all your savings into lump sum.
What is MNPL ?
Weddings specially in India calls for huge funds , from Haldi to Marriage to Reception , it`s a week Bulk Expense . So some companies have come up with “MNPL ” Policy Scheme , wherein you have to use funds solely for marriage purpose , and pay off the amount in Later Days.
Benefits of MNPL
- Maximum Tenure
It provides 1 lac to 50 lacs for marriage for a tenure of 12-60 months , and it`s very instantly disbursed in account.
- No Liquidation of Asset
Some people surrender Assets like House , Gold or Property , but in MNPL , it`s all about Income and Salary.
- No Collateral
Just proof of Income , whether Job or Business , will get you the Policy Money.
- Flexible EMI
They charge reasonable Interest ranging from 11-21% which may vary from different Institutions .
Marry Now Pay Later Schemes in India
– Royal Orchid Group has partnered with Bajaj Finance.
- HDFC, ICICI , Lazypay , Fullerton all has come up with different Interest Rate Slabs .
Opting for “MNPL” is indeed Beneficial , as you have to pay just the EMI`s and not to spend all of Lifetime Savings or Earnings to a single event , but you will experience same level of excitement on wedding day.