A wedding is ideally a one-time event that deserves all the attention and dedication you can muster. Many people grow up dreaming of their wedding day, seeing it as the culmination of their desires and the beginning of the rest of their lives.

As such, most people give this event their all – with the only deterrent, especially for young couples, being financial constraints.

But in Singapore, you can access a wedding loan to help you pay for the costs and repay the loan later in small amounts, without financial strain. The way to do it is by applying for a marriage loan in Singapore, a typically low-interest loan.

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

Read on to learn more about a wedding loan and how to apply for a wedding loan in Singapore.

What Is A Wedding Loan?

A loan for a wedding is essentially a personal unsecured loan that covers the expenses related to a wedding. Lenders take into consideration the unique circumstances a couple is in and provide a loan to cover some wedding expenses at friendly interest rates.

The amount you can get with this loan is high – up to $40,000 – and if you have a higher income and an outstanding credit rating, you may qualify for an even larger amount.

On the flip side, you could get a lower loan amount, depending on the number of loans you currently owe such as car, home, and student loans. In Singapore, the maximum debt a person can have is 55% of their gross monthly income.

Also, it would help if you knew the amount you hope to qualify for before approaching a licensed money lender by using an online loan calculator.

Financial institutions and banks in Singapore provide online loan calculators on their websites, and you can use them to compare rates and find the most favourable loan terms.

How Wedding Loans Work

A wedding loan is a unique line of credit that does not need you to use an asset as collateral. You may use it to settle wedding-related expenses.

But to apply for the loan, your credit, income, credit score, and even citizenship determine whether you can access the loan. It would help if you also were employed with a stable salary and you get more than the set minimum income, to qualify for the loan.

If you have a strong credit score and good income, you’re likely to qualify for a loan fast and also get a low interest rate.

The same happens if you apply as a couple rather than as an individual. You are more likely to have your application approved and get a favourable interest rate because of the shared responsibility for the loan.

If you’re approved for the loan, you will be asked to provide your CPF statement, a copy of your NRIC, IRAS Notice of Assessment, payslips from the recent few months, and proof of your billing address.

But remember that a wedding loan is a short-term loan you will need to repay within the stipulated period.

Also, know that most lenders have made provisions for you to make the application online through their mobile apps and their websites. You may also visit them at one of their physical office locations.

Costs That Wedding Loans Can Cover

A wedding loan typically covers wedding-related expenses, but depending on the amount you qualify for, you can also use it for other things.

Here’s a breakdown of the wedding costs in Singapore that the loan could cover:

  • Pre-wedding photoshoot
  • Wedding planner
  • Photography
  • Videography
  • Rings
  • Banquet or reception
  • Venue
  • Catering
  • Entertainment
  • Rental cars
  • Flowers and décor
  • Hair and make-up
  • Bachelor and bachelorette parties
  • Wedding
  • Your honeymoon (including accommodation and plane tickets)
  • Guo Da Li gifts
  • Outfits for persons attending the wedding party

The amount you get could be anything from $10,000 to $70,000, and with a breakdown of all high costs, you should be able to allocate money to some or all of the abovementioned expenses.

Note that you could start repaying the loan right after the wedding from the red packets the guests present to you.

But don’t bank on this money because you cannot be sure what the guests will give you. So instead, ensure that you still have some cash flowing in to cover your expenses and make loan payments after the wedding.

How To Do A Breakdown Of Wedding Costs

Before you go on to apply for a wedding loan, let’s first break down the costs of some of the critical items in a Singapore wedding budget to see precisely what you would be needing:

Cost Of Engagement Rings And Wedding Bands

On average, Singaporeans spend $4,000 on rings. But depending on the value you place on the rings, the cost could be higher or lower.

Some people feel that it’s the thought that counts and feel expensive rings are unnecessary, while to others, rings are a symbol of their love, so they invest a good amount on them.

Wedding Attire And Make-Up

Whether your wedding is small or big, you must look the part. Your wedding party must also stand out. So you are likely to allocate a good amount to this by hiring some professional photographs to capture the glorious moments.

On average, the wedding attire and make-up cost couples $2,000 to $6,000. The amount could go even higher – depending on the type and number of suits and gowns you are buying, the service charge by the make-up professional, and the number of outfits for your wedding party.

Guo Da Li

If you’re somewhat traditional or your parents insist on traditions, the Guo Day Li will feature in your budget. This traditional Chinese betrothal ritual involves giving gifts, and they are not cheap. A typical gift basket costs $5,000.

The Reception

The reception cost depends on several factors such as the venue, the food, décor, guest number, entertainment, and others.

On average, a table for 10 costs $1,200 in most venues across the island. It costs much more if you choose a high-end venue.

But note that venue charges vary depending on the wedding season and the day of the week. Owners charge low prices outside of the wedding season and on weekdays like Monday.


A typical marriage solemnisation costs $1,000 at the Registry of Marriages. But a more customised and stylish ceremony may cost $5,000.

Benefits Of A Wedding Loan

Still wondering should I get a loan to pay for my wedding? Well, there are many benefits to getting a personal loan to get you out of a financial pickle. They are:

    1.  Gets You The Wedding Of Your Dreams

Ideally, you only get married once. So it would help if you did it right, in the most memorable way.

Bringing your dream wedding to life may cost a fortune, but fortunately, banks and other financial institutions are willing and even competing to help bring your dreams to life.

Wedding loans are not expensive to acquire because the lenders compete by offering the most favourable lending rates.

So you need not compromise or have to bear with a basic wedding just because you can’t afford to pay the costs out of pocket today. You can still get the best and pay for it later, with little interest.

    2.  There Are No Emotional Strings Involved

The wedding will not leave you with obligations and guilt when you borrow from friends and family who may impose their conditions and requests.

In contrast, getting all the money yourself allows you to make independent choices and walk around proudly, with no guilt or responsibility.

    3.  You Get The Entire Sum You Need At Once

If you choose to save for the wedding yourself, little by little, it will take you a long time to gather all the money you need. Borrowing from friends and family may also not give you the amount you need at once either.

But when you take out a loan, you get a lump sum of money, making it easier for you to plan and hire vendors or providers.

    4.  Saves You Money

With a wedding loan, you can plan the entire budgetary scope of the wedding more effectively. You’re less likely to spend more than you planned, which saves you money.

Where To Get A Wedding Loan

Here is a selection of some of the best financial institutions and banks offering competitive wedding loans* in Singapore:

DBS Cashline

We like the DBS Cashline loan because it processes quickly, and you can access the money from DBS or POSB ATMs in Singapore. When paying for services, you can also wire the money or issue cheques.

UOB Personal Loan

The UOB Personal Loan is comparably low-interest at 4.25%, for a minimum of $1,000. UOB CashPlus customers can get same-day approval and choose between flexible and fixed repayment terms.

OCBC EasiCredit

The flexible OCBC EasiCredit loan has a low minimum repayment of 3% monthly, and you start to repay it when you’re ready. You may get up to four times your monthly income, so long as you earn at least $30,000 a year.

OCBC Limited Extra Cash

This is another easy-access loan for those earning at least $20,000 a year. A borrower is charged 15% annually in interest if they make $30,000 and above, and 22% for those earning $20,000 to $29,999.

*Information correct at time of publication 

U Credit

U Credit is a licensed money lender in Singapore famed for its reliability, responsiveness, customer service, and professionalism.

Our loans are processed fast, have low interest rates, and are flexible. We don’t have blanket rates and terms for our customers.

Our loan officers work with you, and based on your unique circumstances, we customise a loan amount and a suitable repayment plan for you.

To get a loan for your wedding, visit U Credit at #01-19 The Bencoolen, 180 Bencoolen Street, Singapore 189646.

Contact us at +65 6337 1768 to book your appointment or get answers to questions you may have, or apply for a wedding loan now.