Top Wedding Loan Providers in Singapore

Getting married in Singapore is an expensive affair

If you and your significant other are finally getting hitched, congratulations! Tying the knot is definitely an exciting affair. After all, you and your partner are moving on to another chapter of your lives. 

However, past the blissful moments, comes the difficult part – wedding planning. And there is no denying that getting married in Singapore is a highly expensive affair.

What are some of the possible factors that contribute to hefty wedding affairs?

Aside from the engagement ring (which may have already cost a bomb depending on the size and type of the “rock”), there are plenty of other factors that can contribute to the hefty cost of a wedding event. This may include both essential items as well as unforeseen circumstances. 

Here are some of the common items that engaged couples may want to include in their wedding event, all of which eventually adds up to a long bill statement after the wedding event.

Wedding venue

Some couples may prefer a small and intimate wedding reception at an exquisite restaurant. Others may prefer a more elaborate wedding banquet held at a hotel ballroom or even at an overseas resort. Regardless of the location, the cost of renting the wedding venue typically forms the bulk of the wedding costs.

In Singapore, renting a hotel ballroom can set couples back at anywhere between $20,000 to $50,000. These rates typically vary depending on the type of hotel, the guest capacity of the ballroom, and even the day (weekday versus weekend) of the week of the wedding. While renting a restaurant space may be cheaper, you may need to fork out additional costs for the venue decorations.

Number of local and overseas guests

Your nuptials is when you will want the important people in your life to be present. However, what if your best friend or family relatives happen to be living abroad? For many, this means having to pay for your overseas guests to fly in and stay in Singapore for your wedding. If you intend to invite two or three of your friends or relatives, it may still be easier to settle their accommodation. However, if you (or maybe your family) intend to invite other relatives and their families who are staying abroad, be prepared to fork out more for their flight tickets and accommodation expenses.

Wedding bands

Wedding bands are a must-have between every couple. Wedding bands are a symbolic indication that you and your partner are finally in a union together. Similar to an engagement ring, wedding bands are likely to burn a hole in both you and your partner’s pocket depending on the type of gem diamond, ring material and design.

Food

Aside from the wedding venue, food is a crucial and important aspect of every wedding event. Lacklustre tasting food and even poor dining service can leave your guests remembering your wedding event for the wrong reasons.

At the same time, given Singapore’s multiracial society, the cuisine served at your wedding can be a sensitive topic for some. For Chinese, opting for a Western-style cuisine can be more expensive and also offensive to the other generation who are used to a 10-course style of wedding dinners. Some couples may also opt to add on additional food items such as a coffee bar or a free-flow alcohol bar. All these will eventually add up to the wedding costs.

Bridal car

Given that a wedding is a once-in-a-lifetime event, it is not surprising that couples would want to make it memorable and eventful. Even if this means splurging on an expensive bridal car or any other type of automobile to make a grand entrance. That aside, it is fairly common for couples to rent bridal cars to get from one venue to another, and transport their entire bridal party as well. Rental of a bridal car can range between $400 to $500 for half a day depending on the car model and the rental company. If you were to include the cost of decorating the car as well, these transportation fees can amount up to a significant chunk of the wedding budget.

Unload the financial burden of getting married by taking a wedding loan!

Considering all these costs, it is not surprising that getting married in Singapore requires couples to fork out a huge chunk of money. This could mean saving up for months only to spend that entire money on one day, albeit a special one. Some couples may even resort to borrowing money from their parents or relatives to finance their wedding event.

However, couples can unload the financial burden of getting hitched in Singapore by taking up a wedding loan!

What is a wedding loan?

Wedding loans are a type of personal loan that allows you to borrow money to finance your wedding. This includes paying for anything that you want for your wedding, including the wedding venue, the decoration, wedding outfits or any other wedding-related costs. 

Are there really wedding loan providers in Singapore? 

Absolutely! You can get a wedding loan from either a bank or a licensed moneylender in Singapore. Here are some of the top wedding loan providers in Singapore where you can take a wedding loan from.

What are the minimum requirements to meet before I can take up a wedding loan?

Before you consider taking up a wedding loan, do note that there are certain requirements which you or your partner have to fulfil. After all, the bank or licensed moneylender need to be reassured that you have the financial means to repay the loan. As a general rule of thumb, here are some of the minimum requirements:

• You need to be at least 21 years of old at the time of application
• You need to have a minimum monthly income of $2,500
• You need to be either a Singapore Citizen, Singapore Permanent Resident, EP Holder or S-Pass Holder

If you fulfil all these requirements, then you are eligible to take up a wedding loan!

Editor’s Note:

While every precaution has been made to ensure the accuracy and fairness of this listing, we acknowledge that they may be inaccuracies. Therefore, we urge you to contact the service provider above for the correct information and/or contact us with the correct information.

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