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Compare wedding loans to fund your big day

Consider one of these top picks to cover the big expenses that come along with your big day.

While there are a variety of ways you can pay for your wedding, a personal loan provides the funding you need in one lump sum. And it can cover up to the full cost.

These five lenders make our list because they offer large loan amounts, have relatively competitive starting rates and all allow you to use your loan funds to finance your wedding. But if they don’t suit your needs, there are other lenders — and financing options — that you can use to make your wedding memorable.

5 best personal loans for weddings

Best for long loan terms

LightStream personal loans

Finder Rating: 4.83 / 5 ★★★★★

LightStream offers some of the most competitive terms out there and is backed by Truist. If you plan on having a larger wedding and want a longer term to pay it off, LightStream may be a good choice. But you'll need good to excellent credit to qualify — typically 670 or higher — and you won't be able to see your rates before your credit is checked.
  • Available in all states
*Payment example: Monthly payments for a $10,000 loan at 5.95% APR with a term of 3 years would result in 36 monthly payments of $303.99.

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 avoiding fees

SoFi personal loans

Finder Rating: 4.45 / 5 ★★★★★

If you and your spouse are young professionals, SoFi may be a good choice. Its personal loans come with a slew of career development opportunities, and rates start at a low 8.99%. But it can take up to a month for SoFi to fund your loan, so you'll need to prepare well ahead of schedule to ensure you have your funds when you need them.
  • Available in all states

Best for borrowers with bad credit

Upstart personal loans

Finder Rating: 4.15 / 5 ★★★★★

Although Upstart has a high maximum APR, it does start relatively low at 8.69% — which is competitive for borrowers without the best credit. Its loan terms are also limited, but you can borrow up to $50,000. And unlike other lenders, Upstart will consider your education and career in addition to your credit score when you apply.
  • Not available in: West Virginia

Best for members of the military

Marcus by Goldman Sachs personal loans

Finder Rating: 3.8 / 5 ★★★★★

Marcus by Goldman Sachs offers higher rates than some of its competitors for borrowers with good to excellent credit. But members of the military may qualify for an APR as low as 4%. Paying on time also has its benefits — and you can apply with a joint bank account.
  • Available in all states

Best for comparing multiple lenders

Fiona personal loans

Finder Rating: 4.25 / 5 ★★★★★

Fiona is a connection service, not a lender. Fortunately, the lenders it works with accept a wide range of borrowers — provided you're at least 21. You can apply with a coapplicant so you and your future spouse have joint responsibility on the loan, and you may be able to score an APR as low as 3.49%.
  • Available in all states

See more personal loan options

Check out even more lenders by selecting your credit score range and which state you live in.

1 - 6 of 6
Name Product Filter Values APR Min. credit score Loan amount
Upstart personal loans
Finder Rating: 4.15 / 5: ★★★★★
Upstart personal loans
5.40% to 35.99%
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
Best Egg personal loans
Finder Rating: 3.8 / 5: ★★★★★
Best Egg personal loans
8.99% to 35.99%
$2,000 to $50,000
A prime online lending platform with multiple repayment methods.
OneMain Financial personal loans
Finder Rating: 3.4 / 5: ★★★★★
OneMain Financial personal loans
18% to 35.99%
$1,500 to $20,000
An established online and in-store lender with quick turnaround times. Poor credit is OK.
Finder Rating: 4.3 / 5: ★★★★★
4.98% to 35.99%
Poor to excellent credit
$1,500 to $100,000
Get prequalified loan offers in 2 minutes or less. Will not affect your credit score.
Upgrade personal loans
Finder Rating: 4 / 5: ★★★★★
Upgrade personal loans
8.24% to 35.97%
$1,000 to $50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
LightStream personal loans
Finder Rating: 4.83 / 5: ★★★★★
LightStream personal loans
5.99% to 23.99%
Good to excellent credit
$5,000 to $100,000
Borrow up to $100,000 with low rates and no fees.

How to prequalify for a personal loan

Before you and your future spouse commit to a large loan, see what rates you may qualify for by following these steps:

  1. Set an ideal budget for your ceremony.
  2. Compare lenders and other financing options.
  3. Submit an application for preapproval with three or four lenders.
  4. Review your potential APR, monthly payment and total cost for each loan.
  5. Select the option that best suits your budget.

Some lenders, like LightStream, don’t allow you to prequalify for a loan. To keep hits to your credit score at a minimum, apply for preapproval with lenders that offer it first. Then you can check your rates with other lenders that require a hard credit check.

Other financial obligations to consider for the wedding

When you’re preparing your budget and determining how much you need to spend, keep these common wedding costs in mind:

  • Engagement party invites
  • Engagement party venue
  • Engagement party food and drinks
  • Bachelor or bachelorette party and bridal showers
  • Wedding invites and thank you gifts
  • Bride and bridesmaids dresses and accessories
  • Groom and groomsmen suits and accessories
  • Flower girls, ushers and pageboys
  • Wedding location 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

Best personal loans to pay for a honeymoon

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.

LenderMinimum credit scoreBest for…Finder RatingWhat sets it apart
Lightstream670Low rates★★★★★ Competitive rates to begin with, plus a rate beat program for eligible offers.
Discover660An adventurous honeymoon★★★★★ 30-day guarantee program that lets you refund at no cost.
Laurel Road680Mixed-credit couples★★★★★ One of the only personal loan providers that accepts cosigners.
SoFi680Building your financial future★★★★★ Membership perks to improve your financial habits and boost your career.
Payoff640Consolidating honeymoon credit card debt★★★★★ A hands-on customer service team that guides you through the consolidation process.

3 factors to consider before taking out a wedding loan

Before applying for a wedding loan, you and your future partner should sit down and discuss your financial situation so you both fully understand the financial commitment you’re agreeing to. Below are some of the questions you should discuss.

  • 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 and 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.

Should I use a credit card instead?

It depends. Unless you have a large credit limit — or a small wedding planned — credit cards likely won’t be able to cover the full cost of a wedding. But they can be used to pay for things like your dress, venue deposit and flowers.

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 five 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. Sacrificing little optional expenses that tend to add up — like takeout — you can add to your wedding budget without affecting your quality of life too much.
  • Scaling back. When you’re still planning your wedding, scaling it back can save hundreds — sometimes thousands — of dollars. Fewer guests, a simpler venue and simpler decor will all help maximize your budget.
  • 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.

Bottom line

While the best way to finance your wedding will always be through saving and budgeting, a loan can help speed up the process. To get the best deal, compare all your personal loan options. Planning is a must, so take your time when selecting the right lender and terms for your big day.

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2 Responses

    Default Gravatar
    JoyceJune 19, 2017

    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.


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