Getting married in Singapore may not be as easy as hoped by most couples. Given that it is one of the most expensive cities in the world, it may not be the most ideal place to exchange vows. However, while it’s still amongst the most beautiful destinations to visit, it’s always a guaranteed option.

A wedding in Singapore can cost somewhere around S$40,000 to up to S$100,000. Remember that your finances matter the most for this celebration as it could make or break you as partners. It is essential to establish a solid financial foundation before your wedding to help couples start off on the right foot. Should you come short on budget, Moneylender Review can assist you.

 

Features of Wedding Loans

Like any other package deals, wedding loans Singapore vary. Here are some tips on what to look out for:

  1. Attractive personal loans. Not all moneylenders offer specialized loans for the sole purpose of planning a wedding. Fortunately, unsecured loans are unlike SME business loans which usually come with no restrictions. It allows people to spend personal loan funds on dresses, wedding banquets, honeymoons, and more.
  1. Low-interest rates. Searching for a loan with low-interest rate is vital if you want to get the best possible loan deal for your big day. You can easily spend more on your wedding banquet by saving money on your interest rate and monthly payments.
  1. Minimal processing fees. At times, even the best marriage loans in Singapore charge a processing fee, but luckily, it’s easy to save a little extra cash by shopping around.
  1. Specialized loans for customers with low credit. This may not necessarily apply to you, but it’s good to know that even people with low credit scores can still borrow money for their big day. Many licensed money lenders will look beyond bad credit histories and you could still be eligible for up to 6 times of your monthly salary.

 

Steps to Apply

Unlike banks, most moneylenders share the same application process which consists of three easy ways. After comparing three top picks we have provided:

  1. Call or apply from the comfort of your home with a few clicks using our online form.
  2. Visit the branch for an appointment to create a customized plan that suits your needs.
  3. Finalize the loan plan and receive the cash right after.

 

How to Choose the Best Wedding Loan for you?

Loans for personal purposes are growing increasingly popular with Singaporeans and anyone else planning their perfect Malay and Chinese wedding. But of all the wedding loans in Singapore, finding the right one that suits you may not always come handy. It’s highly likely there are huge differences in overall costs and even the general requirements between Malay and Chinese weddings – while Western weddings may differ even more, especially if you need to fly in lots of guests from long distances.

From our website, with the help Moneylender Review’s comparison tool, future borrowers can easily differentiate deals from various banks and/or lenders that will best cater to their needs depending on their financial worries. Each result will be refined accordingly for each type, (i.e. car loan, debt consolidation loan, bridging loan, personal loan or study loan.)

  1. Select a sensible loan amount. It’s never wise to borrow beyond your means. Seek advice to find out what kind of loan you can realistically afford, then compare the best deals available that fits your desired loan wedding amount.
  1. Know more about the flexibility of the loan. The flexibility of your loan should suit how you are planning to use it. You may check if you can repay the loan early, or whether you will be able to extend the loan if you are struggling to make your scheduled repayments.
  1. Verify the repayment options. This is a feature that can aid reduce the amount of interest you pay on your loan. Longer loan tenure means more interest that you are going to pay. Try to shorten the repayment period to save the costs for you.
  1. Keep fees and hidden costs low. It’s recommended that you always check your desired lender’s upfront fees and interest rate. You should look out for any late fees too and consider these closely.
  1. Opt for the best interest rate. This one goes without saying. Lower interest rate means lower overall costs – and some lenders might even be willing to offer an attractive introductory rate, too. Secure one of these and you’ll pay less for the first few months of repaying your loan.

 

Why choose Moneylender Review?

MoneylenderReview.com’s reliable and resourceful directory listing will give the information and assistance that all potential borrowers are looking for. With the necessary and provided information, you as a borrower will be able to find and consult Singapore legal lenders that are of good reputation.

Our group’s dedication will steer you to the right source in the shortest amount of time and the least effort so you can get the right loan you need with the suitable moneylender.

Apply now!

  

Best Wedding Loans in Singapore Today

Quit worrying about the endless searching of the ideal loan for your most awaited wedding. Moneylender Review can quickly provide you with three quotes for the best wedding loan that best fits you and your partner’s needs.

  

 

Frequently Asked Questions (FAQs)

Wedding Loan

Should I take a wedding loan to finance my wedding?

You may ask most personal finance experts and it’s likely their advice is not to have a wedding you can’t afford. However, if you're up for the game, then preparation is always the key.

While saving is an option, keep in mind that there are personal loans. It can have cheaper interest rates than credit cards. 

It is a common method of credit for consumers and is often used for debt consolidation since their interest rates can be lower than those offered on credit cards. Thus, for couples who need to cover costs they haven’t saved for, a wedding loan can be a better alternative than putting a balance on a high-interest credit card.

Moreover, using a personal loan responsibly can help strengthen your credit. Personal loan lenders report on-time loan payments to the major credit bureaus — which are major factors in determining a healthy credit score. 

Always remember that someone who makes every loan payment way ahead and on time can use this to their advantage.

How to apply for a wedding loan?

To apply for a personal loan for a wedding in Singapore, it is necessary for you to be over the age of 18 years (some require to be at least 21 years old) and have a minimum salary of $1,500. Listed below are the requirements you need for a loan application:

1. Personal details including your name, age, and proof of your identity
2. Financial details including your assets, liabilities and debts
3. Employment details including your income and the name and contact details of your employer/s

How much would it likely cost to hold a wedding in Singapore?

Weddings in Singapore may range somewhere around S$30,000 to S$50,000, although extravagant weddings could significantly cost more nearly over  S$100,000. Some of its biggest components are the wedding banquet, as well as the honeymoon.

From the simple solemnization to overseas flights and fairytale venues, the overall cost can vary dramatically depending on what kind of wedding you hope for. This is especially true from each culture to culture, as certain Malay and Chinese wedding traditions don’t always come cheap.

Note that during weddings, you will pay for the dowry, the wedding band, solemnisation, photography and videography services, the banquet, engagement party invites and venue. This includes a wedding planner, bridal car, invitations, the wedding cake, wedding favours as well as your honeymoon expense.  Keep in mind that these will all depend on the bridal package that you will get.

For an estimation, here are some of the average costs for the different wedding types:

  • Chinese wedding - $36,000 to $55,000 average
  • Malay wedding – $43,000 to $75,000 average 
  • Western wedding - $48,000 to $100,000 average

Moneylender Review’s savings tips for wedding

Given that most brides and grooms have unrealistic expectations of what they want in their wedding celebration, it is hard to iterate how the whole occasion actually costs. 

There may be a wide selection of approaches to consider doing to cover your wedding costs. Some of the easiest ways include using various credit cards for rebates, making use of credit card deals with hotels and venues for your wedding banquet, and trimming the extras. However, to actually save money and even time ahead, only careful research, proper and budgeting for the wedding expenses would help partners achieve their ideal ceremony.

As we highly encourage, couples can try applying for loans as it tends to charge sufficient interest rates well below the credit cards. 

And as weddings are unavoidable spending for most people who want to start anew, a clear and detailed plan is indeed essential. It requires a long time and effort to successfully create a well-thought celebration. Remember that it will test the relationship between both parties even just because of a single factor. It would also weigh how partners work and bond together.

When choosing one from the options that Moneylender Review can provide, borrowers may check for these factors:

  1. Selecting  a sensible loan amount
  2. Looking for low-interest deals
  3. Picking a flexible tenure

What are the advantages of taking a wedding loan?

Instant access to credit. You can apply for the loan online. Once the amount is disbursed to you in-person, you have instant access to credit. This means, your wedding planning gets better because you don’t need to worry about arranging funds, whenever you have to book a venue, hire wedding planners, pay decorators and entertainment necessities or plan your honeymoon abroad.

Getting all the money in one lump sum. It's better to anticipate that trying to borrow money from family or friends may result in a shortage of funds. This is because those who can give may be very few and the amount given may also be limited. This may also risk harming relationships in the process. On the other hand, applying for a wedding loan ensures that all the cash is received in one lump sum which enables you to plan the entire wedding with ease.

It helps a lot in budgeting. Getting a fixed amount from a wedding loan tends to assist when budgeting for the celebration. It then becomes easier for you to select a venue, wedding attire, and other items because you already have a fixed figure to work with. This makes the planning process more convenient with minimal cases of conflict.

You can use the money to fund several expenses. It’s a given there are countless expenses associated with weddings. You have to pay for the venue, lighting, photography, decoration, catering, etc. You may also have to purchase your wedding cake, jewelry and for your honeymoon trip. Your wedding loan can easily help you meet all the expenses on your special day.

Independence. Borrowing money from a lender rather than from people gives the couple independence when planning for their wedding. Getting cash from others may have the consequences of losing the freedom to make decisions when planning the wedding. You may be forced to go according to the desires of the people who financed them. For example, you may end up settling on a venue that is not of your choice. 

A wedding loan can help make a couple's dream wedding come true. It's understood partners never make a marriage commitment to each other because of the lack of finances for a wedding ceremony. Taking a wedding loan assists you to achieve the wedding of your dreams. After all, weddings are probably only going to happen once in a lifetime, thus, making it a memorable one would be worth it.

How can Moneylender Review help you?

Achieving the wedding of your dreams may be difficult, however, is still possible. Although loans don’t come easy, especially for those seeking for plans for the first time. With Moneylender Review, it’s assured clients are given quality assistance to help them make better financial decisions. 

Moneylender Review is guaranteed reliable in providing a list of licensed moneylenders that are available to respond to borrowers’ financial needs. The information which we provide from the directory includes the possible loan packages that are ideal for your necessities. Moneylender Review offers the best picks and even neutral clients’ reviews for the lenders in Singapore which are all easy to browse. Within an instant, you can easily submit your details and get up to three quotes from our best selected licensed moneylenders listed. Above all, the entire process of borrowing your loan goes smoothly.