Compare wedding loans to fund 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

Finder Rating: 4.83 / 5

★★★★★

Read review

Best for long loan terms: LightStream personal loans

Good to excellent credit
Min. Credit Score

Varies
Starting APR

$100,000
Loan Amount

• Info
• Pros and cons
• Details

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.

• Loan terms up to 12 years
• Autopay discount up to 0.5%
• Backed by Truist Bank

• No preapproval process
• Good to excellent credit required
• No customer service number

Loan Amount	$5,000 – $100,000
APR	Varies
Interest Rate Type	Fixed
Turnaround Time	Varies

Disclaimer

Disclaimer
*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.

Finder Rating: 4.3 / 5

★★★★★

Check my rate at SoFi personal loans's secure site

Best for avoiding fees: SoFi personal loans

680
Min. Credit Score

5.99%
Starting APR

$100,000
Loan Amount

• Info
• Pros and cons
• Details

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 5.99%. 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.

• No origination or late fees
• Multiple member benefits
• APR starts at 5.99%

• Turnaround up to 30 days
• Good to excellent credit required
• Recent lawsuit from the FTC

Loan Amount	$5,000 – $100,000
APR	5.99% to 20.69%
Interest Rate Type	Fixed
Min. Credit Score	680
Min term	24 months
Max term	84 months
Turnaround Time	Up to 30 days

Disclaimer

Disclaimer
Fixed rates from 5.99% APR to 20.69% APR (with AutoPay). SoFi rate ranges are current as of January 19, 2021 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.

Finder Rating: 4.15 / 5

★★★★★

Check my rate at Upstart personal loans's secure site

Best for borrowers with bad credit: Upstart personal loans

600
Min. Credit Score

8.27%
Starting APR

$50,000
Loan Amount

• Info
• Pros and cons
• Details

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.

• Accepts credit scores as low as 580
• Loans up to $50,000
• Education and career background considered

• APR up to 35.99%
• Potential origination fee of 0% to 8%
• Only 3- and 5-year terms available

Loan Amount	$1,000 – $50,000
APR	8.27% to 35.99%
Interest Rate Type	Fixed
Min. Credit Score	600
Min term	36 months
Max term	60 months
Turnaround Time	1 to 3 business days

Finder Rating: 3.8 / 5

★★★★★

Check my rate at Marcus by Goldman Sachs personal loans's secure site

Best for members of the military: Marcus by Goldman Sachs personal loans

660
Min. Credit Score

6.99%
Starting APR

$40,000
Loan Amount

• Info
• Pros and cons
• Details

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.

• APR as low as 4%
• Rewards for on-time payments
• Can change payment due date

• Interest added for late payments
• Lower loan amounts than other lenders
• High APR of 19.99%

Loan Amount	$3,500 – $40,000
APR	6.99% to 19.99%
Interest Rate Type	Fixed
Min. Credit Score	660
Min term	36 months
Max term	72 months

Disclaimer

Disclaimer

Marcus By Goldman Sachs® Offer Terms and Conditions

Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose and our evaluation of your creditworthiness. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions.

Finder Rating: 4.25 / 5

★★★★★

Check my rate at Fiona personal loans's secure site

Best for comparing multiple lenders: Fiona personal loans

670
Min. Credit Score

4.99%
Starting APR

$100,000
Loan Amount

• Info
• Pros and cons
• Details

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 4.99%.

• Large network of lenders
• Accepts coapplicants
• Fair credit OK

• May receive marketing materials after applying
• Potential origination fee up to 6%
• At least 21 years old

Loan Amount	$1,000 – $100,000
APR	4.99% to 35.99%
Interest Rate Type	Fixed
Min. Credit Score	670
Min term	24 months
Max term	84 months
Turnaround Time	Varies by lender

See more personal loan options

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

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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.	Go to site View details		loading Fetching your data...
Monevo personal loans			3.49% to 35.99%	None	$100,000	Quickly compare multiple online lenders with competitive rates depending on your credit.	Go to site View details		loading Fetching your data...
Upstart personal loans			8.27% to 35.99%	580 or 600 depending on state of residence	$50,000	This service looks beyond your credit score to get you a competitive-rate personal loan.	Go to site View details		loading Fetching your data...
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.	Go to site View details		loading Fetching your data...
Even Financial personal loans			4.99% to 35.99%	550	$100,000	Get connected to competitive loan offers instantly from top online consumer lenders.	Go to site View details		loading Fetching your data...
Fiona personal loans			4.99% to 35.99%	Good	$100,000	Get loan offers from multiple lenders at once without affecting your credit score.	Go to site View details		loading Fetching your data...
SoFi personal loans			5.99% to 20.69%	680	$100,000	A highly-rated lender with competitive rates, high loan amounts and no fees.	Go to site View details		loading Fetching your data...
NetCredit personal loans			34% to 155%	No minimum	$10,500	Check eligibility in minutes and get a personalized quote without affecting your credit score.	Go to site View details		loading Fetching your data...

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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.

Things to consider before taking out wedding loan

Before applying for a wedding loan you and your future partner should sit down and discuss your financial situations 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.

You can read our guide to funding a wedding with a credit card to learn more about the potential benefits and drawbacks of putting your wedding on plastic.

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. Less 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 your full set of personal loan options. Planning is a must, so take your time when selecting the right lender and terms for your big day.