Funding Your Child’s Wedding or Education Without Touching Retirement Funds

You've worked hard to build your retirement fund, setting aside money year after year with one goal: peace of mind for the future. Now your child's wedding or higher education is around the corner, and the bills are anything but small.

The thought of dipping into your savings feels scary and unsettling. You want to give your child the best, but does it have to be at the cost of affecting your security?

What if you can fund your child's milestones without compromising your golden years?

This guide will explore smart, strategic alternatives to help you do just that.

The Risks of Using Your Retirement Corpus

Your retirement fund is your safety net. It's what gives you freedom and peace of mind when you no longer want to worry about monthly pay cheques. Touching it now for short-term expenses can leave you exposed later.

Here's why you should protect it:

• Loss of compounding: Every rupee you withdraw today could have doubled or tripled by the time you retire
• Tax penalties: Early withdrawals may attract tax, cutting down what you actually get
• Future security: This money is meant for your lifestyle after retirement, not immediate expenses

Think of it this way, borrowing from your future self creates financial stress later. A better alternative lets you meet today's needs without breaking the nest egg you've worked so hard to build.

So what's it?

A Smart Alternative to Consider: Personal Loans

When big expenses like weddings or education come up, you don't have to dip into your retirement fund. A personal loan can be a stress-free option.

With a personal loan, you get the flexibility to borrow what you need, whether it's a few lakhs for a Master's degree or wedding arrangements. You don't need to pledge collateral.

You can plan your repayments with the help of an EMI calculator and manage everything through a fully digital, paperless process on Hero Fincorp's personal loan app.

Take the Mehtas, for example. They needed funds for their daughter's wedding. Instead of withdrawing from their EPF, they chose a personal loan from Hero Fincorp.

The wedding went off beautifully, their retirement savings stayed intact, and their EMIs were easy to manage.

How a Personal Loan Can Help You

Here are some top benefits of using a personal loan for a major life event:

1. No collateral

You don't need to pledge your home, gold, or any asset. A personal loan is unsecured, giving you quick access to funds without risking what you own.

2. Flexible repayment

Every family's situation is different. With tenures ranging from 6 to 60 months, you can pick an EMI plan that fits your monthly budget and doesn't stretch your finances.

3. Quick access to funds

When it comes to weddings or education deadlines, time is everything. With Hero FinCorp's Instant loan app, you can get approvals and disbursals in a matter of hours.

4. Transparent rates

Personal loans come with a fixed interest rate (no surprises or other hidden charges). So you know exactly what you'll pay each month.

5. Peace of mind

Most importantly, you get to give your child the best, but without touching your retirement savings. That means security for your future and joy in the present.

Tools to Plan Better

Planning for a big milestone feels easier when you know exactly where you stand. Hero Fincorp gives you simple tools that put clarity in your hands:

• Personal loan EMI calculator to estimate your monthly EMIs in minutes and see what works best for your budget
• Eligibility calculator to find out the maximum loan amount you can apply for before you start
• Digital, paperless process with minimal verification requirements, such as keeping PAN, Aadhaar, and income details ready
• Easy login access by signing in to Hero Fincorp online, and take the next step without delay

Make Big Moments Stress-Free with Hero Fincorp!

Your retirement is your safety net, which you shouldn't risk for even the most important family milestones.

With Hero Fincorp's instant personal loans, you can plan your child's wedding or education without worry while protecting your future.

Ready to check your loan eligibility?

Download our Instant Loan App today to find out what amount you could qualify for, all from your smartphone.

Frequently Asked Questions

1. What is a good credit score to get a personal loan?

A good credit score is typically 750 or higher. A high score increases your chances of getting a loan with a favourable interest rate.

2. How much can I get with a personal loan?

Loan amounts vary by lender. For example, Hero Fincorp offers a personal loan of up to ₹5 lakh, which can be a significant help for a child's education or a wedding.

3. Can I apply for a personal loan without visiting a branch?

Yes, you can. Hero Fincorp's online personal loan application is a fully digital process, allowing you to apply from the comfort of your home using your phone or computer.

4. How quickly can I get an instant personal loan?

With a digital process, you can often get an instant loan approval and have the funds disbursed within a short period, sometimes within hours.

Disclaimer: The information provided in this blog post is intended for informational purposes only. The content is based on research and opinions available at the time of writing. While we strive to ensure accuracy, we do not claim to be exhaustive or definitive. Readers are advised to independently verify any details mentioned here, such as specifications, features, and availability, before making any decisions. Hero FinCorp does not take responsibility for any discrepancies, inaccuracies, or changes that may occur after the publication of this blog. The choice to rely on the information presented Here is at the reader's discretion, and we recommend consulting official sources and experts for the most up-to-date and accurate information about the featured products.