A wedding is one of the biggest days of your life. It is a once-in-a-lifetime moment that you will want to make memorable by organising it lavishly. Knowing the significance of this occasion, your parents may have been saving for your wedding right after your birth. Even after the rising inflation, wedding expenditures have only increased in the past few years. With rising marriage costs in India, a personal loan can provide the financial support you need to create the dream wedding you've always envisioned. Today, we are going to talk about the Average Marriage Cost in India and how a personal loan might help you deal with them.
How Much Does a Wedding Venue and Decorations Cost?
The selection of a wedding venue is the first step in the planning process. Before we go into the big fat destination weddings in Rajasthan's royal palaces, let's look at what most Indians choose.
You can plan to organise your wedding at open banquet lawns, hotels, or a farmhouse. These venues' wedding packages are vastly different from one another. For example, in a hotel, the banquet hall, basic lighting, and decoration expenses are included in the per plate cost at a wedding. And, you have to pay an extra amount for rooms, additional decoration, and other services.
If you reserve an open lawn or a farmhouse, the inclusions in the package are limited
Here's a table that gives you a rough sense of venue costs.
Venue Type
Venue Expenses
Additional Venue-Related Charge
Hotels
Rs 1,000 to Rs 3,500 (per plate) *Guest size 500 to 1000 persons
Minimum Rs 1.5 lakhs
Banquet Lawns & Farmhouses
Starting from Rs 2,00,000 for Tier-II cities.
Minimum Rs 1.5 lakhs2,00,000
Destination Wedding at Royal Palaces
Rs 75,00,000 to up to a few crores
Minimum Rs 20,00,000
Remember, these are approximate costs of weddings in India and can vary based on location and customisation.
What Percentage of Total Wedding Expenses was Spent on Apparel?
The term "wedding" does not only mean "seven pheras," as many other rituals and functions are there to consider. For example, the pre and post-wedding celebration comprise events such as a bachelorette party, ring ceremony, Haldi, reception, and a few more. And for each different function, the bride and groom require different dresses. Now, the answer to the above question is you have to spend somewhere around 10% to 20% of your entire wedding costs on apparel. Here's the break-up to help you understand this better
Function
Groom
Bride
Ring ceremony
Starting from Rs 7,000
Starting from Rs 10,000
Wedding
Starting from Rs 12,000
Starting from Rs 25,000
Other event
Between Rs 15,000 and Rs 35,000
Between Rs 30,000 and Rs 60,000
Apart from these, don't forget about the cost of dresses given as gifts.
Here are the approx. costs of a wedding in various categories
India is known for its delectable cuisine. And the food is something that Indians prioritise when it comes to planning a wedding. However, this cost on the Indian marriage expense list depends upon the number of guests and the package available with caterers and hoteliers. In general, caterers offer six different menu packages, three vegetarian and three non-vegetarian. The basic package starts at Rs 1,000 per plate. Apart from that, they also provide customisation options. For example, you will have to pay extra if you increase the number of starters or add some curries to the main course beyond your basic package.
How Much Does Wedding Jewellery Cost?
Presently, gold prices are trading at over Rs 74,490 per 10 grams. So, if you are not adding this cost to your simple Indian wedding budget, you are committing a mistake. A lightweight necklace weighing roughly 30 grams will set you back around Rs 2,50,000.
In addition, you also have to incur money on gold bangles, mangalsutra, nose rings, etc. The total cost of these will be between Rs 3,50,000 and Rs 6,00,000. Last but not least, engagement rings. The trend is for a diamond ring and a good quality IF diamond ring with decent weight costs around Rs 1,25,000.
How Much Does Wedding Photography Cost?
The concept of wedding photography has evolved. It is not limited to covering your big day. People are now looking to cover every pre-wedding ritual and a couple of pre wedding shoots
There is also a new concept called cinematography shoot. Therefore, when booking a photographer, you need to understand the inclusions of their photoshoot package. Check how many photographers they provide, whether the LED projectors are part of the package, and if they have drones or other high-tech systems to cover your wedding. Also, check the inclusion of the wedding album.
The wedding photography package in India starts at Rs 75,000.
Miscellaneous Expenses
In addition to the major expenses listed above, there are other small expenses that individuals overlook. However, such costs have a substantial influence on their bank account. Here's the table highlighting the expenses to be included in the middle-class marriage budget in India.
Nature of Expense
Amount
Transportation cost
Rs 65,000 to Rs 1,50,000 (AC bus)
DJ
Rs 15,000 to Rs 40,000
Sweet
Rs 15,000 to Rs 25,000
Others
Rs 60,000 to Rs 1,00,000
How Much Does a Middle-Class Indian Wedding Cost?
The entire wedding expenditures are determined by many things. The number of wedding guests, the wedding location, the amount spent on jewellery, and so on are only a few of them. It also depends on whether the bride and groom share the cost of staging the event or if it is solely carried by one party.
In case you are organising a light wedding, it will still cost you somewhere between Rs 15,00,000 and Rs 25,00,000. Whether you're planning an extravagant or a more intimate wedding, the average wedding cost in India ranges from Rs 15,00,000 to Rs 25,00,000.
How to Plan the Middle-Class Marriage Budget in India?
From the above examples, it should be evident that a wedding is not a low-cost event. If you plan to pay for your wedding entirely with your savings, you may run out of money. Therefore, the best approach to go about it is to budget your expenses using your savings and a personal loan. By combining your savings and a personal loan, you can get an average wedding cost in India and ensure a memorable celebration without financial constraints.
The benefits of opting for this loan are they are unsecured and provide you with a flexible repayment tenure. They also have an affordable interest rate. In fact, the personal loan interest rates depend upon your credit profile. If you have a good track record of managing past debts and have a decent income, you can qualify for a low-cost loan. A personal loan can help take off your financial burden to some extent
Planning your honeymoon is creating memorable experiences. It's an indirect marriage expense, which can be easily handled using a travel loan from Hero FinCorp. With sufficient funds, you can book everything in advance, including air tickets, hotel, local transportation and even sightseeing slots. Here's a breakdown of expenses related to honeymoon travel
Expense Category
Average Cost Range (in Rs)
Flight Tickets
40,000 - 1,00,000
Accommodation
50,000 - 2,00,000
Local Transportation
20,000 - 50,000
Meals and Dining
30,000 - 80,000
Activities and Tours
40,000 - 1,00,000
Miscellaneous
20,000 - 50,000
Tips to Save on Marriage Costs in India
Plan your wedding in the off-season, if possible
Make sure to invite only near and dear one
Compare prices from multiple vendors for better deal
Choose a local or budget-friendly venue to save on rental
Combine rituals and ceremonies to minimise overall expenses.
Plan your honeymoon to off-season destinations in India to save on this wedding-related costs.
Ask friends and family for help with wedding arrangements, such as photography, music, and decorations.
Prioritise your marriage expenses by focusing on what truly matters to you and allocate your budget accordingly.
Conclusion
In India, weddings are known for exhausting one-third of your savings. The changing trends and rising inflation have made this event costlier than ever. Therefore, instead of using your entire savings and depleting your emergency reserves, fund overheads with an instant Personal Loan for wedding. The pocket-friendly EMIs and flexible repayment terms will make managing wedding-related spending much easier.
Frequently Asked Questions
1. Is 15 Lakhs Enough for a Wedding?
The sufficiency of 15 lakhs for a wedding depends on the scale to which you are planning, location, and personal preferences. While it can cover essential expenses for a modest wedding, larger or extravagant weddings may require a higher budget.
2. Why Are Indian Weddings So Expensive?
Indian weddings involve multiple ceremonies, guest accommodations, lavish decorations, gourmet cuisine, and traditional attire. Since it's a once-in-a-lifetime event, couples and parents dislike compromising on any aspect.
3. How Can One Avail a Wedding Loan?
To avail a wedding loan, one can approach Hero FinCorp, as we offer instant loans. The eligibility criteria, documentation requirements, loan amount, interest rates, and repayment terms vary. It is advisable to compare loan eligibility, evaluate repayment capabilities, and consider the terms and conditions before applying for a wedding loan.
Katyaini is a finance expert with a focus on the non-banking financial sector, bringing over 8 years of experience in NBFC. She specializes in simplifying complex financial concepts for readers, helping them navigate the NBFC landscape. Outside of work, she is passionate about travelling.
