Important disclosure

Wedding Loans

Wedding loans ensure that your big day isn’t limited by the size of your savings. With the extra funds, you can skip budget worries and focus your energies on creating a memorable event without breaking the bank.

Compare wedding loans below and take advantage of our easy-to-use calculator to find the best deal for you and your partner.

Calculate your repayments

Loan Amount

$10,000

Term

3 months

OurMoneyMarket

Low-Rate Personal Loan - Excellent Credit - Zero Fee

EST Monthly Repayment
EST Monthly Repayment
6.57%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
Plenti

Unsecured Personal Loan - Exceptional Credit

EST Monthly Repayment
EST Monthly Repayment
6.57%
Advert. Rate (p.a)
Comparison rate
Borrow from $5,000 to $50,000 with a low interest personal loan. Choose a loan term between 3 - 7 years with $0 monthly fees. Get a rate estimate in as little as 60 seconds with no impact on your credit score.
Now Finance

NOW Finance Unsecured No Fee Personal Loan

EST Monthly Repayment
EST Monthly Repayment
6.75%
Advert. Rate (p.a)
Comparison rate
Pay ZERO fees on all loans with NOW Finance. That's right - no establishment fee, no monthly fees, no early payout fee on all loans between $8,000-$50,000. What's more, get your guaranteed, tailored interest rate in two minutes without impacting your credit score. Comparison rate can vary from 6.75% to 26.95% p.a.*
Liberty

Unsecured Personal Loan - Excellent Credit

EST Monthly Repayment
EST Monthly Repayment
7.24%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Starting out or starting over? Get fast access to the funds you need.
OurMoneyMarket

Low Rate Personal Loan (Fixed, Secured) - Very Good

EST Monthly Repayment
EST Monthly Repayment
6.49%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
OurMoneyMarket

Low Rate Personal Loan (Fixed, Unsecured) - Good

EST Monthly Repayment
EST Monthly Repayment
7.49%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
Harmoney

Unsecured Personal Loan - Excellent Credit

EST Monthly Repayment
EST Monthly Repayment
5.76%
Advert. Rate (p.a)
Comparison rate
Get what you want, without breaking the bank. Fast, easy & 100% online. Borrow up to $70,000 unsecured. No hidden fees or early repayment penalties. Harmoney's unsecured interest rates range from 5.76% p.a. to 24.03% p.a.
OurMoneyMarket

Low Rate Personal Loan (Fixed, Unsecured) - Average

EST Monthly Repayment
EST Monthly Repayment
8.49%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
Liberty

Secured Personal Loan - Excellent Credit

EST Monthly Repayment
EST Monthly Repayment
6.52%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Offering the certainty of fixed repayments at a rate just for you.
Plenti

Plenti - Personal Loan - Very Good Credit

EST Monthly Repayment
EST Monthly Repayment
12.49%
Advert. Rate (p.a)
Comparison rate
Borrow from $5,000 to $50,000 with a low interest personal loan. Choose a loan term between 3 - 7 years with $0 monthly fees. Get a rate estimate in as little as 60 seconds with no impact on your credit score.
Liberty

Secured Personal Loan - Good Credit

EST Monthly Repayment
EST Monthly Repayment
10.34%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Offering the certainty of fixed repayments at a rate just for you.
Liberty

Unsecured Personal Loan - Good Credit

EST Monthly Repayment
EST Monthly Repayment
11.49%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Starting out or starting over? Get fast access to the funds you need.
Bankwest

Flexible Personal Loan

EST Monthly Repayment
EST Monthly Repayment
10.99%
Advert. Rate (p.a)
Comparison rate
Whatever it is you’re dreaming about, a Bankwest Flexible Personal Loan puts you in control. Pay it off early, make additional repayments and redraw additional repayments you’ve made all at no extra cost!
St.George Bank

Unsecured Personal Loan (Fixed)

EST Monthly Repayment
EST Monthly Repayment
12.99%
Advert. Rate (p.a)
Comparison rate
Whether you're taking control of your finances, planning a special event, or making a large purchase, our Unsecured Personal Loan may be the right solution.
St.George Bank

Unsecured Personal Loan (Variable)

EST Monthly Repayment
EST Monthly Repayment
12.99%
Advert. Rate (p.a)
Comparison rate
Whether you're taking control of your finances, planning a special event, or making a large purchase, our Unsecured Personal Loan may be the right solution.
Westpac

Westpac Unsecured Personal Loan

EST Monthly Repayment
EST Monthly Repayment
11.99%
Advert. Rate (p.a)
Comparison rate
A personal loan can help you to get what you’ve always wanted. Plan ahead with a flexible loan term of between 1 and 7 years. Apply for between $4,000 and $50,000 (conditions apply). Make extra repayments to pay your loan off sooner (prepayment fee may apply). Choose a repayment frequency to suit when you get paid - weekly, fortnightly or monthly.
NAB

NAB Variable Rate Personal Loan

EST Monthly Repayment
EST Monthly Repayment
12.69%
Advert. Rate (p.a)
Comparison rate
1-7 years flexible loan term, borrow from $5,000 up to $55,000 and redraw additional repayments you've already made
NAB

NAB Fixed Rate Personal Loan

EST Monthly Repayment
EST Monthly Repayment
12.69%
Advert. Rate (p.a)
Comparison rate
Borrow from $5,000 up to $55,000 for 1 to 7 years flexible loan terms
Wisr

Platinum Unsecured Personal Loan

EST Monthly Repayment
EST Monthly Repayment
11.40%
Advert. Rate (p.a)
Comparison rate
Wisr provide personalised low rates for applicants with good credit. Borrow between $5,000 and $50,000 with transparent terms and easy online application.
People's Choice Credit Union

Unsecured Personal Loan

EST Monthly Repayment
EST Monthly Repayment
13.99%
Advert. Rate (p.a)
Comparison rate
As a member owned organisation, our first priority is to help you. We continually focus on providing high levels of personalised service and value for money products – such as our Personal Loans– there to help you make those life-changing purchases.
Plenti

Plenti - Personal Loan - Good Credit

EST Monthly Repayment
EST Monthly Repayment
14.49%
Advert. Rate (p.a)
Comparison rate
Borrow from $5,000 to $50,000 with a low interest personal loan. Choose a loan term between 3 - 7 years with $0 monthly fees. Get a rate estimate in as little as 60 seconds with no impact on your credit score.
The Mac

Personal Loan Unsecured

EST Monthly Repayment
EST Monthly Repayment
15.99%
Advert. Rate (p.a)
Comparison rate
Whether you're dreaming of far away destinations or of revolutionising the world with your next big invention, our Unsecured Personal Loans are a flexible and simple solution from an ethical and trusted team.
ANZ

ANZ Variable Rate Loan

EST Monthly Repayment
EST Monthly Repayment
15.99%
Advert. Rate (p.a)
Comparison rate
Whether you're looking to buy a new car, take a holiday, renovate your home or you want to consolidate debt, ANZ could help you with a Variable Rate Personal Loan.
Regional Australia Bank

Personal Loan

EST Monthly Repayment
EST Monthly Repayment
15.99%
Advert. Rate (p.a)
Comparison rate
All-purpose Personal Loan for quick and easy funds when you need them.
Plenti

Plenti - Personal Loan - Average Credit

EST Monthly Repayment
EST Monthly Repayment
18.45%
Advert. Rate (p.a)
Comparison rate
Borrow from $5,000 to $50,000 with a low interest personal loan. Choose a loan term between 3 - 7 years with $0 monthly fees. Get a rate estimate in as little as 60 seconds with no impact on your credit score.

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Minimum and maximum loan periods vary between 6 months and 10 years. Comparison interest rates vary between 6.55% and 20.89% p.a. Total interest repayments vary between $1,387 and $4,165 over the life of the loan. *Comparison rate is based on an unsecured loan of $10,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

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Wedding loans in Australia – Compare offers for your big day

Planning a wedding not only takes time, but it may also end up costing a small fortune. If you’re a couple wondering how to pay for it all, there are financing solutions lined up for your rescue. This wedding loans guide explains the available options, and how to find the best one to start your new chapter in life.

Happy couple getting married in sunset

What are wedding loans?

A wedding loan is simply a personal loan in disguise. While you can use personal loan money for technically anything, in this instance, the funds go to cover your wedding, hence the name. After your perfect day becomes a reality, you conveniently repay the debt in regular instalments that also include interest. The following breakdown paints a clearer picture of how wedding loans work in Australia:

  • Minimum/maximum amounts to borrow. Personal loan amounts offer $1,000 on the low end and up to $100, 000 or more on the upper end. Your circumstances and the lender’s limits will determine how much ends up in your bank account once your application is approved.
  • Repayment periods. Your instalments might cover a minimum term of 12 months and a maximum term of 10 years.
  • Fees and charges. Aside from interest, most lenders will also throw establishment fees, ongoing fees, as well as late payment fees into their product bundles.
  • Qualifications. Generally, you’ll need good to excellent credit as well as a stable income. However, some lenders cater to borrowers with special circumstances. For instance, there are personal loans for self-employed individuals and those with bad credit.

Pros of wedding loans

  • Fast, easy, and convenient funding. Wedding planning is much easier if you already have cash in hand. Some bookings need to be made months in advance, so it’s a major thumbs-up when you can get a personal loan through a quick online application, for example. What’s more, your bank account can receive the cash delivery in as little as 24 hours, though this is on a per lender basis.
  • All-round flexibility. You’ll appreciate the range of financial freedom offered by personal loans when it comes to your nuptials. First, you can choose how much to borrow based on your unique situation. Second, you can split the lump sum to cover the million, wedding-related things listed on your budget. Lastly, you can work out a suitable repayment plan that ensures a financially stress-free honeymoon.
  • Credit score boost. By spreading out the cost of your big day, you avoid overworking your budget. That means you can easily make repayments on time, and once you’re free of debt, your credit score will thank you for it. As a borrower who now has excellent credit, you can expect to get fast approval and favourable rates on future loan applications.

Cons of wedding loans

  • Your credit score affects the quality of credit you get. If your credit score looks risky to lenders, you might not be able to sign up for a wedding loan. Some lenders may give you a chance, but they’ll impose high rates and fees to insulate themselves from financial loss.
  • It’s easy to go over your budget. Wedding costs are typically on a sliding scale from simple and intimate to extravagant and elaborate. If you have a high borrowing capacity, it’s tempting to keep pushing the costs up to a point where you pull out all the stops. However, choosing that designer dress and those specially packaged invitations may end up getting you further into debt.

Is taking out a wedding loan a good idea?

If you have weighed the pros and cons of taking out a wedding loan but are still sitting on the fence about whether to go ahead or not with it, you may also need to consider the following:

  • It’s a mutual decision. Starting a marriage union while indebted is something that will affect both you and your partner. It’s therefore important to hash it out with your other half to ensure you’re on the same page before you check in with lenders.
  • Can you afford it or not? Qualifying for credit is one matter, but being able to pay it back is another piece of business. Take stock of your finances to figure out how much debt you can tackle. At the end of the day, it’s important to remember that you can organise a fabulous event on any budget with a few money-saving tips.

What’s in a wedding budget?

Need to work out a budget before you commit to a finance option? Kick-start the process by putting down essential costs first. You can then add on the extra trimmings until you reach your set limit. Check out the top ten expenses you’ll need to consider below:

  • Venue
  • Catering (food and drink), plus wedding cake
  • Bride’s dress and groom’s attire
  • Rings
  • Transport
  • Decoration
  • Entertainment
  • Photography and videography
  • Attire for bridesmaids, groomsmen, flower girls, pageboys etc.
  • Marriage celebrant/ministers of religion

Types of wedding loans

Like weddings, wedding loans also come with several options to choose from:

  • Secured. A secured personal loan has an asset that provides insurance for the lender behind the scenes. Whether it’s your car, house or other valuable, the lender will assume ownership of the asset if you backslide on your repayments. Because it’s a low-risk arrangement, most credit providers offer competitive terms for this type of loan.
  • Unsecured. In contrast to secured loans, unsecured personal loans are a popular option that won’t require you to provide collateral. But, because the lender has no leverage over any of your assets, they insure themselves from financial loss by increasing borrowing costs.
  • Fixed. Fixed-rate loans remain at a standstill over the life of your loan, and this makes for a consistent budget. But, on the other hand, if the Reserve Bank cash rate falls, you’ll have to forego any potential interest savings.
  • Variable. Variable-rate loans are generally unstable, and you may have to fine-tune your budget several times while paying your debt off. However, potential interest savings are in store for you if the cash rate declines. But, then again, your loan’s total costs may increase if the cash rate swings up.
  • Joint application. With a joint application personal loan, you can be partners in life and partners in debt. This shared responsibility can net you better rates, more borrowing power, plus other benefits.

The best way to compare and find wedding loans

  • Browse our comparison table. BestFind’s product table is a time-saving tool that allows you to check out the Australian lending marketplace quickly and conveniently. Our featured financial services providers are authorised, and you have a wide range of products to choose from.
  • Apply the filter. While using the table for your personal loan comparison, it’s best to apply the filter. For instance, secured loans should be contrasted with other secured loans. Doing this not only helps you to narrow down your options quickly, but you also get a better idea of which loan type works best for your situation.
  • Calculate. Our wedding loans calculator shows your estimated monthly repayments for a given amount and term. Choosing an affordable option is recommended, but you should know that lower repayments may mean a prolonged loan term. When you take more time to pay off your wedding loan, the cost of borrowing automatically increases.
  • Check the comparison rate. Interest is not the only cost to worry about when you finance your special day. The comparison rate for any offer includes the interest rate, but it also takes into account other standard fees and charges. You can still check for hidden fees outside of the comparison rate, but generally, the comparison rate is designed to show the actual cost of a particular loan.
  • Look for flexibility. Choose an option with features that make life easier for you. This could be a redraw facility where you can get back extra repayments in a tight situation. Or, it could be a discount, fewer charges, and the freedom to pay off your loan early.

Kick-start your special day with a personal loan application

Once you find a personal loan that’s spot-on, you can set your application in motion by clicking the “Go to Site” button. But, before you visit the lender’s website, here’s what you’ll need:

  • Proof of identity – passport, driver’s licence
  • Details about your expenses, assets, and debts
  • Proof of income – payslips, bank statements
  • Proof of residence – utility bills

Wedding loans FAQ

Can I apply if I have bad credit?

Yes. But, keep in mind that a subprime credit score affects how much you can borrow. You might also not be able to get the lowest rates and charges available.

Are there any ways to reduce wedding costs on your own?

If you want to borrow less, there are smart ways to cut costs without compromising the quality of your event. You can: borrow from family and friends, make bookings in advance to avoid short notice fees, or shop around for vendor discounts.

What else can I use to pay for my wedding besides a personal loan?

If you’re a homeowner, you can use your equity to fund the event. Your bank account may also have an overdraft that allows you to borrow money up to a specific limit. Generally, credit cards have high finance costs, but if you find a 0% offer, this can turn out to be affordable.

Where else can I get finance besides major banks in Australia?

You can also get wedding funds from Australian credit unions. If you want to cut out the middleman, you could consider peer to peer lending companies as an alternative option.

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