Indian weddings are grand affairs. From designer outfits and jewellery to venue bookings and photography, the cost often runs into lakhs. To ease the financial burden, many couples and families are turning to Buy Now, Pay Later (BNPL) options. But is BNPL really a smart way to manage wedding shopping, or does it lead to unmanageable debt later?
What Is BNPL?
Buy Now, Pay Later (BNPL) is a short-term credit facility offered by fintech firms, e-commerce platforms, and banks. It allows you to purchase items immediately and pay in instalments over weeks or months, usually interest-free if payments are made on time.
Why BNPL Appeals During Weddings
Weddings often require multiple purchases in a short span, and BNPL offers a convenient way to spread costs without dipping immediately into savings. The instant approval process and minimal paperwork make it ideal for last-minute expenses such as bridal wear or gadgets.
The main advantages include:
Instant affordability: You can buy big-ticket items without full payment up front.
Low or zero interest: Many BNPL platforms offer zero-cost EMIs if repayment is prompt.
Rewards and offers: BNPL platforms often give cashback or discounts during festive and wedding seasons.
The Hidden Risks: When BNPL Becomes A Debt Trap
Despite its appeal, BNPL can quickly snowball into a financial risk if not used responsibly. One key danger is overspending. When expenses are split into smaller payments, it is easy to lose track of the total outflow.
Repeated defaults can affect your credit score since many BNPL providers now report data to credit bureaus like CIBIL. This can hurt your future chances of getting a personal loan or credit card.
There's also a behavioural trap: BNPL normalises debt as an everyday spending habit. For newlyweds setting up a home, stacking multiple BNPL lines can lead to a large monthly liability.
To conclude, BNPL suits small, quick purchases but becomes risky when used excessively or for big-ticket wedding expenses. BNPL can be a convenient ally for wedding shoppers who plan carefully and pay on time. But without discipline and budgeting, it can turn from a flexible tool into a debt trap.
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