Wedding Jewelry- To be or not! Personal Loans Vs Other Options

It could be an arranged marriage or choice marriage. Indian brides are expected to look their ‘best’ on their special day and by our standards, it translates to expensive bridal wear and as much gold as you can possibly afford (or beyond what the family can afford). Gold is also a great investment and let us not dismiss it as frivolous indulgence. However, rather than amassing gold in one’s own time comfortably, many parents/children take on the burden to buy them all solely for the wedding day.bracelet-2186832

If you are worried about buying the gold ornaments you want without squeezing yourself to the point of suffocation, here are a few tips that will help you cross the waters.

  1. Sign up for Gold Scheme with Jewelers:

Many reputed jewelers offer gold scheme in which you can put away a bit of money every month for a chosen tenure. This is a great way to save enough money over a period of time and buy gold at a competitive price. You can deposit as little as Rs. 500 per month and there is no upper cap on the amount. The biggest benefit of being part of such schemes is that you can avail attractive rebates when you finally use it to buy gold.

  1. Online shopping:

These days online jewelry shopping has become popular. It is easier to compare the designs and since product description (brand, size, material proportion, metal stamp, mass and model number among others) will be given on the item-page, customers too find the whole process easier. Even if are not comfortable with online shopping, you can always do your research there and then visit the shop.

  • From Family:

If you are the kind of person with little to no affinity to gold and jewels, it is better not to invest a huge sum of money just for the wedding day. You can easily make do with your mother’s or sister’s or aunt’s ornaments and buy gold coins for yourself. Don’t forget to get them polished though. They will be happy when you return their old ornaments new-and-shining.

  1. Personal Loans:

Many people find it easier to get personal loans to buy gold for weddings. As an unsecured loan, the process of securing quick and hassle-free. In fact, some alternative lenders are known for disbursing quick personal loans. All you need is a steady source of income and a good credit score though the eligibility criteria vary from bank to bank.

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