Consider a personal loan for part of your wedding expenses (e.g., 2-3 lakh out of 10 lakh). Avoid relying on loans for the entire budget to ensure financial feasibility.
Personal Loan
Invest in hybrid mutual funds (like conservative or balanced funds) for long- term savings. This can help build a substantial corpus over several years.
Hybrid Funds
Explore equity-oriented mutual funds (large cap, mid cap, etc.) for potentially higher returns. Prioritize large-cap funds for greater security.
Equity Funds
Use fixed deposits with banks to earn stable returns of around 6-7% per annum. Senior citizens may receive a slight interest bonus.
Fixed Deposits
Set up a recurring deposit (RD) to save consistently, earning interest rates of about 6-7% per annum, helping you accumulate funds gradually.