Loans for marriage: you can spend up to 60,000 euros
According to research conducted by the Federconsumatori National Observatory, in 2014 a traditional wedding with about 100 guests can cost from 35,000 to just under 60,000 euros, 1% more than last year. Significant or even prohibitive figures, especially in these times, for many couples about to take the fateful step, who are often forced to apply for a loan to cover the costs of the wedding.
Fortunately there are special loans dedicated to those who intend to get married, always admitted (and not granted) that at least one of the two future spouses can count on a secure income, such as to convince a bank or a financial company to satisfy the credit request. Because in the absence of this requirement, the only solution is to rely on the good heart of the respective families.
Loan for marriage: personal loan
The first type of loan for marriage is the ” finalized ” one, which is offered by a service provider that has an agreement with a credit institution and is connected to the sale of a specific product such as the wedding dress, reception or travel of wedding. The loan is paid in monthly installments according to a specific amortization plan.
Alternatively you can opt for the ” personal ” loan, which allows you to merge more expenses with a single debt, with lower costs but at a higher rate than the finalized loan. Except in special cases, its granting is not subject to the presentation of restrictive guarantees.
Finally, there are the ” Government Agency ” loans, reserved exclusively for public employees (including former employees and retirees), which consist of a request for a specific loan for their marriage or for a child, with a maximum payable amount of € 23,000 gross and five-year reimbursement payable in monthly installments up to 1/5 of the salary or pension.
If none of these three types of loans are actually viable, and the spouses’ relatives are unable to support the marriage financially, the Federconsumatori observatory provides all the indications for a low-cost wedding that would cost only 12,600 euros.