Compare wedding loans to fund your big day

4 ways to fund your ceremony — and tips to help you find the right lender.

Last updated:

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

The most important day of your life isn’t always cheap. From the dress and the venue to the catering and the wedding car, your special day can cost you upwards of $50,000. If you don’t have that money saved, you may need to turn to other ways to finance your wedding.

Our top pick: LendingClub Personal Loan

  • Min. Credit Score Required: 640
  • Min. Loan Amount: $1,000
  • Max. Loan Amount: $40,000
  • APR: 6.95% to 35.89%
  • Requirements: US citizen or permanent resident, verifiable bank account, steady source of income, ages 18+.
  • Available in 48 states
  • Checking rate won't affect your credit
  • Can apply with a cosigner

Our top pick: LendingClub Personal Loan

A peer-to-peer lender offering fair rates based on your credit score.

  • Min. Credit Score Required: 640
  • Min. Loan Amount: $1,000
  • Max. Loan Amount: $40,000
  • APR: 6.95% to 35.89%
  • Requirements: US citizen or permanent resident, verifiable bank account, steady source of income, ages 18+.
Promoted

How can I finance my wedding?

While there aren’t many lenders that specifically offer loans for weddings, there are plenty that allow you to use your funds toward any expense — including weddings. The option you choose should depend on your current financial circumstances, how much you need to borrow, your outstanding debts and your active credit accounts.

Personal loans

A personal loan can be from a variety of lenders, and you may be able to borrow up to $100,000. If approved, you’ll receive a lump sum that can be used for anything, including a dress, throwing an engagement party or even financing part of the honeymoon.

Lines of credit

Not sure how much you need to borrow? Lines of credit work like personal loans, but rather than borrowing a lump sum, you can withdraw as much as you need when you need it. You may be charged a set interest rate when you withdraw additional money, and there may also be monthly fees while you have the line open.

Credit cards

If you already have a card with a competitive interest rate, then you may want to consider using it to make wedding-related purchases instead. Or, consider signing up for a credit card with a 0% introductory APR to cover a few purchases — just don’t go overboard so you can pay off your balance before the intro period is over.

Crowdfunding

With more crowdfunding sites popping up, some couples have opted to reach out to friends, family and even strangers to help pay for their big day. Sites like GoFundMe, Crowded Wedding and KickStarter allow soon-to-be newlyweds to set up campaigns to raise wedding funds. Typically, these online fundraising platforms charge an overall service fee as well as a fee per donation. However, you usually won’t be on the hook for any upfront costs to set up your campaign.

5 lenders that offer wedding loans

Lender Max loan amount APR Credit score
SoFi $100,000 5.99% to 17.88% 680 to 850
Go to SoFi's site
Upstart $50,000 5.67% to 35.99% 620 to 850
Go to Upstart Personal Loans's site
OneMain Financial $20,000 18% to 35.99% 300 to 669
Go to OneMain's site
Earnest $75,000 5.99% to 17.24% 660 to 850
Go to Earnest's site
LightStream $100,000 Competitive 680 to 850
Go to Lightstream's site

How do I find the right financing for my wedding?

When comparing your loans, pay special to the following features:

  • Perks and discounts. Some lenders may allow you to bundle a personal loan with other financial products to get a discount, while others may have flexible repayment options. If you opt for a credit card, you may be able to earn rewards points for your purchases. Take a look at some features offered by these lenders and see if any of them can make your life easier (or less expensive).
  • Repayment flexibility. Check if you are able to repay the loan early without penalties or if you’ll be able to extend the loan if you need more time to make payments.
  • Prepayment options. You may be able to pay off your laon early, but check to make sure you aren’t charged a prepayment penalty. This can offset any benefit you get from making the extra repayments, so check your lender’s terms before you apply.
  • Fixed or variable interest rates. A fixed rate option can help you plan your repayments because you know what they will be over the course of the loan, but this may also mean you miss out on lower interest rates. Fixed rate loans are usually available for a maximum of five years. Variable rates start off low but fluctuate over the life of the loan, making it hard to budget for the repayments. However, these loans are generally available with repayment terms as long as seven years and you may save money from lower variable rates.

Loans for wedding rings

Things to consider before taking out wedding loan

Before applying for a wedding loan it’s crucial to understand the financial commitment required for servicing the borrowed amount. You and your future partner should sit down and discuss your financial situations beforehand. Below are some of the questions you should be discussing.

  • What are the fees that you’ll be charged? When you look at the fees of a loan you should remember to check the upfront fees as well as ongoing charges. Upfront fees cover the cost of setting up the loan, for example establishment fees, and ongoing fees can include monthly account-keeping fees or amounts charged for using some of the features of the loan. You should also be aware of late fees NSF fees.
  • What interest rate are you being offered? When looking at the rate offered by the lender, make sure to check whether the rate is fixed or variable. You can also see if the lender offers an introductory rate that can help you save money in the first stages of the loan.
  • Are the loan amount and terms affordable? You need to ensure that the amount you want to borrow and the length of time you want to borrow it for is offered by the lender. You can check the minimum and maximum loan amounts each lender offers and see if they suit your needs.

Should I use a loan to pay for my wedding?

It depends. Some financial experts advise against it, stating that you’re better off saving for this big expense. While building up your savings will mean you don’t pay interest, for many people, that’s often an unattainable goal — especially if you’re hosting a large reception at an expensive venue.

A wedding loan can make it easier to afford your wedding, even if it costs you more in the long run. As long as you and your partner agree to the expense beforehand and have a plan of action in place for dealing with the payments, a wedding loan can be helpful. However, it’s still important to explore your other options.

How else can I finance my wedding?

While there are plenty of ways you can make your wedding more affordable — including choosing a less expensive venue or renting a dress — these are four common ways people avoid borrowing a large amount for their big day.

  • Savings. The primary way people pay for a wedding is through savings. It might mean a smaller honeymoon or a more simple reception, but by using your savings, you can avoid paying interest for your wedding.
  • Family and friends. It’s not uncommon for family and friends to help out a little for budgets. Parents are usually willing to foot a portion of the bill, and friends may be interested in DIY centerpieces or discounting services like photography and flower arrangements.
  • Budgeting. Even if you don’t have a huge savings account, you can still work your way to borrowing less. By cutting back on things like coffee, takeout and other unnecessary expenses, you can add to your wedding budget without too much sacrifice.
  • Postpone the ceremony. It might not be ideal, but if you don’t have any set plans, consider extending your engagement. The longer you have to build your savings and find deals, the better off you’ll be — and the less you’ll need to borrow.

Other financial obligations to consider for the wedding

Whether you’re having a small ceremony, or an all out extravaganza for your big day, there is always going to be a range of items and services you may need finance for.
Consider the expenses below:

  • Engagement party invites
  • Engagement party venue
  • Engagement party food and drinks
  • Bachelor/bachelorette party and bridal showers
  • Wedding invites and thank you gifts
  • Wedding dress and accessories
  • Bridesmaids dresses and accessories
  • Groom/groomsmen suits and accessories
  • Flower girls, ushers and pageboys
  • Wedding location/church and marriage officiant
  • Reception location, catering and decorations
  • Photography and videography costs
  • Entertainment considerations
  • Make up, hair and facials for bride and bridal party
  • Transport to and from wedding
  • First night hotel stay
  • Honeymoon

How can I apply for a wedding loan?

To apply for a loan to help you finance your wedding, you can compare your options using the comparison table above. Depending on the type of financing you’re after, you can compare products using the navigation menu at the top of this page.

When you find the right loan and want to apply, click the Go to Site button to be directed to the lender’s website. To qualify for a loan in the US, you generally need to be over 18, be a permanent US resident and have a good credit rating.

Have the following information on hand before you apply:

  • Personal details including your full name, age and proof of your identity
  • Financial details including your assets, debts and liabilities
  • Employment details including your income and the name and contact details of your employer

Compare personal loans for financing a wedding

Updated November 18th, 2019
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
5.95% to 35.99%
Fair to excellent credit
$100,000
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
3.84% to 35.99%
Good to excellent credit
$100,000
Get loan offers from multiple lenders at once without affecting your credit score.
6.98% to 35.89%
600
$50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
3.84% to 35.99%
550
$100,000
Get connected to competitive loan offers instantly from top online consumer lenders.
34% to 155% (Varies by state)
No minimum
$10,000
Check eligibility in minutes and get a personalized quote without affecting your credit score.
3.99% to 35.99%
450
$100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.
6.49% to 17.99%
650
$25,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
6.95% to 35.89%
640
$40,000
A peer-to-peer lender offering fair rates based on your credit score.
5.99% to 17.88%
680
$100,000
No fees. Multiple member perks such as community events and career coaching.

Compare up to 4 providers

Bottom line

There are ways to finance your wedding when you don’t have the money available. Compare your options and make sure you’re applying for a loan that’s competitive and affordable for your budget. Planning is a must, so be take your time when selecting the right lender and terms for your big day.

Frequently asked questions

Picture: Shutterstock

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

2 Responses

  1. Default Gravatar
    JoyceJune 19, 2017

    Hello,
    I’m Democratic Republic of Congo,I want à loan for my business that can help me to have money for my wedding.
    In my country business going good but the problem is how to get initial funds.
    Please,help me to go forward.

    • Avatarfinder Customer Care
      AnndyJune 19, 2017Staff

      Hi Joyce,

      Thanks for your question.

      Unfortunately, the lenders we feature on our website only offer loans to American citizen or residents.

      You may want to get in touch with a local lender in your country for your borrowing needs.

      Cheers,
      Anndy

Go to site