WEDDING LOAN IN SINGAPORE: FINANCING YOUR SPECIAL DAY
Looking for a wedding loan to finance your special day? Then you’ve to read this guide till the end.
Marriages are made in heaven, but the ceremony and the activities leading up to it, are more of an earthly affair. And unfortunately, everything on earth costs money.
To plan a wedding is no easy task. After all; you want your big day to be as special and perfect as it can possibly be. As your wishlist starts to grow, so are your expenses.
Before you know it, the cost of your wedding can become a monster of its own and threaten to ruin your wedding mood if you don’t plan for it adequately.
In this case, you may want to consider getting a wedding loan to facilitate this.
What is a wedding loan?
A wedding loan is a special type of short-term personal loan that you take to cover all the expenditure related to the preparation and hosting of a wedding event.
It is an unsecured loan that does not require any collateral to be placed in pledge.
How is a wedding loan useful for marriage preparation?
Marriage can be the best thing that ever happened to you and the wedding is definitely a declaration of that.
But the preparation and financial outlay leading up to that can be in contrast a total hellish nightmare to deal with.
From booking the venue and confirming the banquet menu, deciding on the wedding gowns and suits, to arranging the photography sessions, and even the post-wedding honeymoon trip that you’ve been looking forward to, there are a ton of moving parts in putting a wedding together that can overwhelm even the best of us.
With so many things to deal with, you definitely don’t need the stress of getting proper funding for these expenses to add on to your stress and anxiety.
Provided that you’ve already planned out what the costs are and where the funds need to go, getting a wedding loan at this juncture can be a calming solution that takes a key factor out of the equation so that you can just focus on getting the necessary arrangements done.
It is also cheaper to get a loan for wedding compared to just chalking up the bills on your credit cards, as the interest rate on the loan is lower.
When should you get a wedding loan?
Once you’ve decided to go ahead with your wedding, in the months leading up to it, do up your financial planning for it and have an idea of how much in total you are likely to incur.
If you see that the overall amount needed for the wedding is outside your cash flow capacities leading up to the wedding, then you probably want to consider taking up the wedding loan to finance it.
How can you apply for a wedding loan
A good and recommended avenue to get your loan from is through a licensed moneylender, as opposed to going to the banks.
Some of the advantages of acquiring a loan from a money lender is that:
- There is usually less paperwork to deal with
- You can usually negotiate for better terms, depending on your current financial standing
- You tend to get your money faster once your loan application is approved
Where to find the best wedding loans
You can do a search on Google and go from one moneylender website to another and learn about the types of personal loans they offer, and the terms that come with those loans. You can also call them up one by one and ask.
A much faster, easier and better solution however, would be to use a quote aggregation platform such as Loanhere.
With a simple enquiry request, Loanhere will generate your customised loan quotes from a curated selection of the best licensed moneylenders in Singapore and send them straight to your email almost instantly.
If you’re looking to apply for a wedding loan, get a quote now.