You probably already know how expensive wedding planning can be. Learn how wedding loans could reduce your out-of-pocket expenses.
Few life milestones necessitate such a huge economic outlay all at once as a wedding. Many couples don’t mind spending a lot to have the wedding of their dreams, from the banquet to the honeymoon. However, in practice, this can strain their finances at a time when other significant expenses such as flat downpayments and renovations may become necessary.
When this happens, loan for wedding can be beneficial. These also referred to as personal loans might support you when circumstances call for an item of significant expenditure. Here is a guide on wedding loans and how they might assist you in making your dream wedding a reality.
Congratulations on your marriage, but let’s be real, you probably have some concerns. We’re not talking about getting cold feet, everyone gets over that, so don’t worry, we’re talking about the wedding’s price tag, which may be outrageous wedding loans Singapore.
How to obtain a wedding loan
Wedding loans stand out because they provide access to a quick line of credit without the necessity for collateral. These are often short-term loans that you repay in installments over the designated period. A copy of your NRIC, your IRAS Notice of Assessment, your CPF statement, your latest few pay stubs, and documentation with your billing address are typically needed for applications.
Most banks allow you to apply online, and some also let you apply through their mobile apps. You can submit an online application or go to one of their locations for banking institutions.
Costs of the wedding that loans can cover
Wedding loans might be as little as a few hundred dollars or as much as ten times your monthly payment, so they should be more than enough to meet your wedding expenses. Therefore, depending on what you wish to include for your wedding, the loan could help you cover an amount between $10,000 to S$70,000. The red packets you’d receive at your wedding could be able to cover some of these costs.
If you take out a wedding loan, making sure everything is perfect for your wedding doesn’t have to be an expensive hassle. These wedding loans may provide you with a much-needed cash boost and provide you with some wiggle space as you pay off your debt. To be sure you’re getting the best deal and to take advantage of special offers, submit an application for your preferred loan using an online comparison tool.