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Best honeymoon loans

Find a low rate or build your nest egg with these top picks.

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Couple recently married on the beach

The average honeymoon costs $5,000 — but can cost upwards of $10,000, according to The Knot’s annual wedding survey. If you don’t have the time to save, an unsecured personal loan can help foot the expense.

But starting your new life together with debt isn’t ideal, since it can make it difficult to qualify for a mortgage or car loan. Look into other no-cost options before you apply for a loan.

How we picked these providers

After reviewing over 120 personal loan providers, we selected these lenders based on the rates, terms, loan amounts and perks that newlyweds planning a trip together could benefit from. We also considered options for sharing the debt, like applying with a cosigner or coborrower. 

5 best personal loans to pay for a honeymoon

  • SoFi: Best for building your financial future
  • Payoff: Best for consolidating honeymoon credit card debt
LightStream personal loans logo
Finder Rating: 4.83 / 5

★★★★★

Check my rate

at LightStream personal loans’s secure site

Best for low rates: LightStream personal loans

670
Min. Credit Score
Varies
Starting APR
$100,000
Loan Amount

This online lending arm of Truist Bank offers some of the most competitive rates out there — if you have the credit and income to qualify. And if you get an offer for a lower rate from another lender, LightStream might beat that by 0.1% if it meets certain standards. The downside is that you can’t check your rate without affecting your credit. And loans start at $5,000, which might be high for some honeymoons.

  • Beats confirmed offers from competitors by 0.1%
  • Accepts joint applications
  • High 0.5% autopay discount
  • Loans start at $5,000
  • No option to prequalify
  • Both of you must meet its high credit standards
Loan Amount $5,000 – $100,000
APR Varies
Interest Rate Type Fixed
Min. Credit Score 670
Min term 24 months
Max term 84 months
Turnaround Time Varies
Disclaimer
All loans are subject to credit approval by LightStream.

Truist Bank is an Equal Housing Lender. © 2020 Truist Financial Corporation. SunTrust, Truist, LightStream, the LightStream logo, and the SunTrust logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

Best for an adventurous honeymoon: Discover personal loans

Varies
Min. Credit Score
6.99%
Starting APR
$35,000
Loan Amount

Discover personal loans come with a deal that lets you return the funds at no charge within 30 days of taking out the loan. If it’s possible your plans might be disrupted by, say, a hurricane, this gives you some cushion for if you suddenly have to cancel your plans. But one of you will have to officially shoulder the cost on your own — Discover doesn’t accept joint applicants.

  • Return funds at no cost within 30 days
  • No origination fee
  • Loans start at $2,500
  • Doesn’t accept joint applicants
  • No grace period before late fees
  • No autopay discount
Loan Amount $2,500 – $35,000
APR 6.99% to 24.99%
Interest Rate Type Fixed
Min term 36 months
Max term 84 months

Best for mixed-credit couples: Laurel Road personal loans

680
Min. Credit Score
7.50%
Starting APR
$45,000
Loan Amount

Laurel Road is one of the only personal loan providers that accepts cosigners. This means you can apply together and benefit from your combined income without being as affected by the bad credit of one borrower. It also has a program for doctors and physicians that comes with lower rates. But otherwise its rates start relatively high compared to other online lenders.

  • Accepts cosigners
  • Rates capped at relatively low 25%
  • Rates start at a low 5.5% for physicians
  • Loan amounts start at a high $5,000
  • High starting APR of 7.75%
  • Longer terms come with higher rates
Loan Amount $1,000 – $45,000
APR 7.50% to 24.75%
Interest Rate Type Fixed
Min. Credit Score 680
Min term 36 months
Max term 60 months
Turnaround Time As little as 2 business days
SoFi personal loans logo
Finder Rating: 4.3 / 5

★★★★★

Check my rate

at SoFi personal loans’s secure site

Best for building your financial future : SoFi personal loans

680
Min. Credit Score
5.99%
Starting APR
$100,000
Loan Amount

SoFi offers some of the most competitive rates out there — and extra perks that can help jumpstart your financial future together. Borrowers become SoFi members, with access to resources like financial advice, career coaching and unemployment protection. But its loans start at $5,000

  • No origination or late fees
  • Free financial and career advice
  • Rates capped at a low 19.08% APR
  • Starts at $5,000 in most states
  • Can take up to 30 days to fund
  • Mixed customer reviews
Loan Amount $5,000 – $100,000
APR 5.99% to 18.28%
Interest Rate Type Fixed
Min. Credit Score 680
Min term 24 months
Max term 84 months
Turnaround Time Up to 30 days
Disclaimer
Fixed rates from 5.99% APR to 18.28% APR (with AutoPay). SoFi rate ranges are current as of October 5, 2020 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. See APR examples and terms. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.
Payoff personal loans logo
Finder Rating: 3.8 / 5

★★★★★

Check my rate

at Payoff personal loans’s secure site

Best for consolidating honeymoon credit card debt: Payoff personal loans

640
Min. Credit Score
5.99%
Starting APR
$40,000
Loan Amount

Chances are you’re going to rack up some credit card debt while you’re away. This lender specializes in credit card consolidation to help you get on track to paying it off — and save on interest. It offers guidance throughout the repayment process and can rework your schedule if your financial situation changes. But you must have at least $5,000 in credit card debt and it may charge an origination fee.

  • Specializes in credit card consolidation
  • Highly rated customer service
  • Allows you to adjust repayment schedule
  • Potential origination fee of up to 5%
  • Must have at least $5,000 in credit card debt
  • Only for consolidating debt — not paying for your trip head of time
Loan Amount $5,000 – $40,000
Interest Rate Type Fixed
Min. Credit Score 640
Min term 24 months
Max term 60 months
Turnaround Time 2 to 5 days

Summary of best personal loans to pay for a honeymoon

LightStream

670

Low rates

★★★★★

Competitive rates to begin with, plus a rate beat program for eligible offers.

Discover

An adventurous honeymoon

★★★★★

30-day guarantee program that lets you refund at no cost.

Laurel Road

680

Mixed-credit couples

★★★★★

One of the only personal loan providers that accepts cosigners.

SoFi

680

Building your financial future

★★★★★

Membership perks to improve your financial habits and boost your career.

Payoff

640

Consolidating honeymoon credit card debt

★★★★★

A hands-on customer service team that guides you through the consolidation process.

See more honeymoon loan options

The more lenders you compare, the more likely you are to get a good deal. See which lenders you might qualify with by selecting your credit score range and state. 

Data indicated here is updated regularly

Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible personal loans
4.99% to 35.99%
Fair to excellent credit
$100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Monevo personal loans
3.49% to 35.99%
None
$100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.
Fiona personal loans
4.99% to 35.99%
Good
$100,000
Get loan offers from multiple lenders at once without affecting your credit score.
LendingTree personal loans
Starting from 2.49%
Good to excellent credit
$50,000
Receive up to five loan offers in just minutes through LendingTree's simple online form.
SoFi personal loans
5.99% to 18.28%
680
$100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
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Compare up to 4 providers

How to prequalify for a honeymoon loan

Prequalifying for a personal loan allows you to compare the rates, terms and loan amounts that you and your spouse might be eligible for from multiple lenders — a key part of finding the best loan offer available to you. Follow these steps:

  1. Go in with ranges in mind. Know how much room you have in your budget for repayments, how much you need to borrow and you and your partner’s credit score ranges. This will help you rule out lenders.
  2. Compare lenders. Do a quick comparison of lenders that you can qualify for, based on loan amounts, rates and terms offered.
  3. Fill out a prequalification application. Most lenders offer quick online applications to prequalify for a loan — often without a hard credit check, so it won't show up on your report.
  4. Compare the results. Weigh the costs as well as additional benefits of each lender before you decide to apply.

Should I get a loan for my honeymoon?

Getting a loan for a honeymoon isn’t always a good idea, especially if you’re already going into debt for the wedding. If you have the time to save up, then it could be worth the wait. But if it’s time-sensitive — suppose you’re about to switch jobs and won’t have that kind of vacation in the near future — it might be worth the investment.

4 more ways to pay for a honeymoon

Before you take out a loan, consider these other free — or close to free — options to pay for a honeymoon.

  • Set up a honeymoon registry. Have your wedding guests contribute toward your honeymoon expenses instead of giving you a toaster you don’t need. Often you’ll have to pay a fee of around 2.5%.
  • Take a minimoon — for now. Go for a long weekend somewhere close after the wedding so you don’t feel cheated — and save up for a big trip when you and your spouse have lots of vacation days.
  • Crowdfund. Instead of setting up a registry, you can also fundraise your honeymoon from friends and family through a site like GoFundMe.
  • Sign up for a home exchange. Cut back on accommodation costs by signing up to swap living spaces with someone living in the area you plan on visiting.

Bottom line

Taking out a loan for a honeymoon shouldn’t be your first choice. But it can help you pay for a trip when you’ll never get as good of a deal as the one on offer now or the time off in the foreseeable future. Visit our general guide to the best personal loans to read about more options.

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