Should I Get A Loan To Pay For My Wedding?

Written by Shannon Wong on November 22, 2022

Your wedding is one of the most important days in your life. But what if you are short on funds for your big day? 

We have good news. There’s no need to bother your family and friends when planning your wedding. With a wedding loan, you can pay all your expenses in one go.

So if you’re wondering: Should I get a loan to pay for my wedding? The answer is undoubtedly yes. 

After all, it’s relatively easy to get a Singapore wedding loan ranging from $30,000 to $100,000, with a repayment plan ranging from one to five years.

With the many options and hundreds of lenders available, it may be overwhelming to know what to choose. There are also other factors to take into consideration. 

If you are stressing out over your wedding expenses, read on. 

What Is A Wedding Loan?

Simply put, a wedding loan is a sum of money you borrow to cover the cost of your wedding. It’s a type of personal loan. 

Some may consider it unnecessary to bring debt into the picture for one’s wedding. But a wedding loan can be a huge help when you don’t have enough in your savings account to tide you through all the expenses that a wedding entails. 

Then again, marriage is a once-in-a-lifetime event, which is why some feel it’s necessary to splurge on their wedding. 

So should I get a loan to pay for my wedding, you ask. Here are some reasons why you should. 

Benefits Of A Wedding Loan

You can use a wedding loan to cover any cost you will incur from the wedding day to your honeymoon. 

The application process is simple, and you can choose from a variety of financial packages. Besides, there is no need for collateral, and you will enjoy low interest rates. 

In addition, the loan will help you to avoid scrambling for extra funds at the last minute. This is because you will have all the funds you need for expenses at one go. So all your dreams will come true without having to trouble your loved ones.  

There are many ways you can use the loan.

Costs That Wedding Loans Can Cover

  • Engagement and wedding rings
  • Wedding outfits
  • Wedding invites
  • Wedding planner
  • Reception
  • Photographers and videographers
  • Meal caterers
  • Decorations on cars or venue
  • Wedding solemnisation
  • Honeymoon expenses

It’s all about having a plan.

How To Do A Breakdown Of Wedding Costs

For most weddings in Singapore, common expenses are as follows: 

Engagement And Wedding Rings

The average cost of engagement rings depends on the carat, which usually start from $700. The wedding rings have similar costs. You can choose what you can afford, or you decide to have the most expensive jewellery if your budget allows it.

Wedding Outfits

Even in modern times, your wedding attire is everything. You can choose to buy or rent your wedding gown. Depending on the quality and number of outfits needed, the costs may range from $1,200 to $6,000. 


The costs you have to fork out depend on the venue, number of guests, the bridal package, entertainment, and more. You could end up paying anything from $30,000 to $50,000. The price may even go up to $100,000 for an extravagant wedding.


Most couples prefer a table of up to 30 with 10 guests. The average cost per table could be $1,200 for a weekday lunch or $1,400 for a weekend dinner. The price may increase or decrease depending on the venue of the banquet.


Such decorations include bridal bouquets, flowers, and bridesmaid bouquets. The wedding cars, photo booths, and more also need to be decked out with such decorations. Depending on the style, you will need to pay $4,000 to $6,000.

Wedding Solemnisation

If you opt to have a simple ceremony at the Registry of Marriages, your wedding solemnisation cost in Singapore may be as low as $1,000. 

Any other fancy addition could hike the price to $5,000. So if you’re on a budget, consider cutting some costs. 

If you’re feeling overwhelmed, check out licensed money lender 1AP Credit. Feel free to use our easy repayment calculator, or get quotes.

How Wedding Loans Work

Wedding loans are unique – no lender will demand security. But you can get as much as 10 times your monthly salary. However, you need to fulfil a few requirements to prove you can repay your loan.

Usually, wedding loans are short-term. You need to agree on the repayment period and the interest rate with your lender. 

There are many banks and licensed money lenders offering Singapore wedding loans. Consider your options carefully and choose the one that best suits your needs.

Applications are made online for most lenders.

Where To Get A Wedding Loan

There are many options to choose from for your wedding loan. Conduct in-depth research to make sure you don’t fall victim to fake money lenders’ traps. 

In general, banks require more documentation than licensed money lenders. Thus, you can choose to work with the latter, especially if you need the money urgently. 

Licensed Money Lenders

If you don’t qualify for a bank loan, consider licensed money lenders in Singapore. A good example is 1AP Credit, which offers quick and professional wedding loans.   

Remember that all licensed money lenders are regulated by the Ministry of Law. As such, licensed money lenders have to adhere to set guidelines for how much they can loan, advertising, debt collection, and more. 

You can verify whether a company is a licensed money lender by checking the Ministry of Law’s list of licensed money lenders. You can find the list online. 

With 1AP Credit, you can enjoy: 

  • Customised wedding loans for your needs
  • Great flexibility
  • Fast and easy loan approval
  • Interest rate of no more than 4% per month
  • No rigid requirements

If you don’t mind waiting for approval, here are some bank loans* you can consider:


1. UOB Personal Loan

You can get a fast wedding loan in Singapore from United Overseas Bank. It offers an interest rate ranging from 4.25% per annum. You can borrow as little as $1,000, but your monthly income determines the maximum amount.

Eligibility Criteria

  • You must be a CashPlus or an existing UOB credit card customer
  • Must be a Singapore citizen or Singapore permanent resident (PR)
  • Between 21-65 years old
  • Have a minimum annual income of $30,000

2. OCBC EasiCredit

EasiCredit is suitable for anyone who needs quick money and flexible payments. You can access your money online or through mobile banking, withdraw cash from ATM, or receive a cheque.

The interest ranges from as low as 3.5% per annum. You can get a loan from two to six times of your monthly income, plus enjoy a fixed repayment period of over 12 to 60 months. 

 Eligibility Criteria

  • Must be a Singapore citizen or Singapore PR
  • Be at least 21 years old
  • Annual income of $20,000
  • Foreigners must have a $45,000 annual income

3. DBS Cashline

Cashline promises to power you through important moments such as your wedding. You can top up your account any time your funds get low. 

The daily interest is low, ranging from 0.06%. You will not incur early repayment fees and can get up to 10 times your monthly salary.

Eligibility Criteria

  • Applicable to Singapore citizens or Singapore PRs
  • Foreigners must have an existing Cashline or credit card account
  • Between 21-75 years old
  • Minimum of $20,000 annual income

Suppose you don’t have an existing Cashline or credit card account. In that case, you can use your NRIC, CPF contribution statement, latest Notice of Assessment (NOA), and latest computerised payslip or salary crediting. 

Alternatively, you can submit your income documents through Myinfo with Singpass.

4. Standard Chartered CashOne

CashOne allows you to borrow up to two or four times your monthly salary with a loan tenure of up to five years. 

The loan amount will depend on your annual income and your credit history. The interest can be as low as 3.4% per annum. 

Unfortunately, you may incur default interest if you don’t make payment on the due date twice within six consecutive months. Late payment fees will also apply.

Eligibility Criteria

  • Minimum annual income of a Singapore citizen or Singapore PR is $20,000
  • Minimum annual income for foreigners with an Employment Pass is $60,000
  • Between 21 and 65 years old

5. POSB Loan Assist

This can be a good option if your wedding is soon approaching. You can get 10 times your monthly salary. 

Besides, you enjoy a smooth fixed repayment plan with a minimum of one year to a maximum of five years. The interest rates are from 5.18% per annum.

Eligibility Criteria

  • Must be a Singapore citizen or Singapore PR
  • Foreigners must have an existing bank or credit card account
  • Between 21-75 years old
  • Minimum annual income of $20,000

*Information correct at time of publishing 

Before you commit to any bank for your marriage loan in Singapore, do your homework well. Compare interest rates, repayment periods, late fees, and other terms.

How To Get The Best Wedding Loan Deal

To improve your chances of getting the best wedding loan, you can:

  • Start paying your creditors on time to improve your credit rating before you apply for a wedding loan. If you have outstanding debts or often make late payments, this will affect your creditworthiness. 
  • Be consistent when making payments. 
  • Limit your loan applications. You can send a loan application at a time but keep your options open on making inquiries about what is available on the market.

Should I Get A Loan To Pay For My Wedding?

You don’t have to toil hard to have the wedding of your dreams with your partner. You can consider applying for a wedding loan for a financial boost.

You can apply for a loan of your choice with 1AP Credit and get feedback within minutes. We will ensure you enjoy flexibility and get the best deal per your Singapore wedding budget. Contact us now. 

Frequently Asked Questions

Is A Wedding Loan A Secured Loan?

No, wedding loans are unsecured loans, they do not require collateral. You can borrow a predetermined amount and pay it back with interest for one to five years.

How Much Can You Get For A Wedding Loan?

Typically, you can get a loan from $1,000 to $100,000. The amount you can get depends on your creditworthiness and your monthly income.

What Can I Use A Wedding Loan For?

Typically, you can use your wedding loan for anything involved in your wedding expenses: engagement rings, wedding rings, gowns and suits, dowry, photography, and more.

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