Only a few occasions in life call for massive amounts of money to mark the magnitude of celebration, and weddings are one of them. As a result, most couples don’t mind shelling out lots of money to actualise their dream wedding.

However, reaching into your savings to finance your dream wedding can mess up your retirement plan. In addition, it can interfere with other major financial responsibilities, such as mortgage payments, bridging loans, etc.

This is where wedding loans come into play. Wedding loans can help you finance a wedding that necessitates enormous spending without disrupting your future financial plans.

So if you’re wondering should I get a loan to pay for my wedding, the answer is yes.

In this guide, you’ll learn about what a wedding loan is, how it works, the costs it covers, and why you should get one.

What Is A Wedding Loan?

A wedding loan works like an unsecured personal loan. It does not require any collateral.

Singapore wedding loans are readily available, but their financial packages differ from one money lender to another.

The money you receive by applying for a wedding loan can be used for anything, including the wedding ceremony and the honeymoon. Such loans usually go as high as $40,000 and are enough to cover all the costs of a grand wedding.

You can become eligible for a larger wedding loan if you have an extraordinarily high income and an excellent credit score. Note that pre-existing loans to your name can also affect how much you can borrow.

So while applying for a wedding loan in Singapore, it’s important to remember that your net debt shouldn’t exceed 55% of your gross monthly salary.

How Do Wedding Loans Work?

As mentioned above, wedding loans work by setting apart a ready line for credit without the need to provide collateral.

For such loans, licensed money lenders and banks impose certain age, salary and employment restrictions. However, restrictions imposed by money lenders are lenient compared to banks.

The most common eligibility criteria laid down by financial institutions in Singapore for wedding loan applications are as follows:

  • Age: 21 to 60 years
  • Minimum gross monthly salary: $1,200
  • Employment type: salaried, contractual, self

Marriage loans in Singapore are mostly short-term loans, which borrowers must repay over a fixed tenure. Also, they require applicants to submit a few documents to the financial institution they approach.

You need to submit a copy of your:

  • NRIC
  • IRAS Notice of Assessment
  • CPF statements
  • Payslips
  • Billing address proof

You can apply for a wedding loan online through most banks, or their mobile apps. Most licensed money lenders also offer online applications.

Costs That Wedding Loans Can Cover

Marriage loans can lie anywhere between a small amount to maybe 10 times your monthly income. Consequently, they’re more than enough to finance all the dreams you wish to fulfil at your wedding.

Here are a few costs that a wedding loan can cover:

  • Engagement rings
  • Wedding rings
  • Wedding banquet
  • Photographers
  • Videographers
  • Hair and make-up
  • Car rental
  • Gown and suit
  • Invites
  • Flowers
  • Bachelorette and bachelor parties
  • Wedding planner
  • Honeymoon tickets and accommodation
  • Additional gifts

A few licensed money lenders in Singapore, such asCredit 21, offer one of the broadest wedding loan packages covering all the expenses mentioned above.

How To Do A Breakdown Of Wedding Costs

Just like any significant event in your life, celebrating a wedding requires thorough financial planning. The planning process can be simplified if you know which aspect of the wedding will cost how much.

Since calculating a rough budget can help you decide on the amount you should borrow, having a breakdown of wedding costs only makes sense.

Wedding Reception

A wedding reception primarily consists of a venue, guests, entertainment, etc. The best wedding venues in Singapore incur a charge of roughly $1,200 for a table of 10 guests. Moreover, organising a wedding for 300 in some of the top-tier hotels in the country can cost you $100,000.

Nonetheless, these prices depend on many factors, such as the day of the week, season, location, etc. So you always have the choice of moderating your costs depending on these factors.

Wedding Attire And Make-up

Needless to say, your wedding day demands you to look your best, and so does your wedding party.

A standard Singapore wedding loan package with coverage for wedding attire and make-up ranges between $2,000 and $6,000. The exact amount depends on:

  • Type of attire
  • Quantity of attire
  • Cost, frequency and location of wedding photoshoots or video shoots


A typical Singaporean couple spends around $4,000 on wedding and engagement rings. Nevertheless, a few argue that the price doesn’t matter, and it’s the thought behind the ring that counts.

However, many couples view wedding and engagement rings as essential symbols of everlasting love. Hence, they splurge huge sums of money to boast about the magnitude of their love.

A wedding loan can be considered a long-term investment. It can help you cement the foundation of your wedding while not having to change your long-term financial goals.

Guo Da Li 

Singapore is a city of traditions, so traditional and cultural weddings are the norm.

If you opt for a Chinese wedding, you can enjoy benefits that multiple wedding loan packages have to offer.

This is because several banks and money lenders offer special loan packages to cover Guo Da Li rituals, which involve gifting baskets.

Unfortunately, these gift baskets aren’t very affordable, as they can cost around $5,000.

Marriage Solemnisation

A basic marriage solemnisation ceremony in Singapore costs more than $1,000.

But if you want a fancier wedding, you might have to reach deeper into your pockets and shell out $5,000.


Booking honeymoons with your wedding venue usually get you a discount, but if you’ve other plans, be ready to spend $8,000 on average.

Also, car rentals incur charges between $300 to $900, depending on the cars you book.

Excluding the wedding expenses mentioned above, you must consider a few more unexpected costs before applying for a wedding loan in Singapore.

Benefits Of A Wedding Loan

As many young couples are applying for wedding loans to finance the wedding of their dreams, money lenders and banks are catering to the demand by offering affordable wedding loan packages.

Yet, a bunch of couples are still inclined toward spending their own money, asking their families for aid, or going for cheaper options.

With all respect to that, taking out a wedding loan can be more beneficial for the following reasons:

  1. You get to celebrate your dream wedding without having to make sacrifices. As a result, you can book a luxurious venue and arrange for extravagant entertainment for the guests.
  2. A wedding loan comes without any emotional strings or obligations. When you borrow money from your family, you’ve to consider their feelings and requests.
  3. You receive all the money in one go. Your family might not be able to loan you all the money at once, which may mean you have to cut back on purchases and lose out on limited-period offers.
  4. Lastly, a marriage loan in Singapore can help you save money. It predefines how much you can spend, so you don’t spend more than you can afford.

Where To Get A Wedding Loan

Given that you’ve reached this section of our guide, it’s natural to assume that you’re planning to apply for a wedding loan.

Below are some of the best options* for a wedding loan in Singapore.

DBS Cashline

DBS Cashline has a reputation for being the fastest loan provider for couples in Singapore. You can use an ATM to receive and transfer the loan amount. DBS Bank gives out loans in the form of cheques and offers an auto top-up feature.

OCBC EasiCredit

As the name suggests, EasiCredit by OCBC is one of the easiest wedding loan solutions for couples in Singapore. It stands out for its flexibility.

You need to pay anywhere between 3-5% per month to keep your tab active for the coming months to reimburse your balance.

Furthermore, you can continue making monthly purchases within a credit limit of up to six times your monthly salary.

UOB Personal Loan

A detailed and quick marriage loan comparison between OCBC EasiCredit and UOB shows that the latter has much more affordable interest rates.

Surprisingly, to pay as little as 4.25% interest per annum, all you’ve to do is borrow a sum greater than $1,000.

You will also become eligible for same-day approval on the wedding loan if you opt to be an UOB CashPlus member.

Standard Chartered CashOne

This Singapore wedding loan package is one of the most practical solutions to the financial problems that often accompany a wedding.

CashOne allows you to borrow as much as four times your monthly income if you earn more than $30,000 annually.

Moreover, Standard Chartered offers a few cashback options that range from $200 to $1,200, depending on the principal amount.

Credit 21

Licensed money lender Credit 21 offers one of Singapore’s most competitive and affordable wedding loan packages. In addition, they are able to grant quick loans to citizens with comparatively less income.

What’s more, this money lender provides an option to customise the wedding loan based on your needs and budgeting requirements.

For speed and convenience, contact Credit 21 now or apply for a loan with us today. We will be more than happy to hear from you and answer any questions that you may have about our wedding loan.