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Wedding Loan in Singapore: Loan Plans & Application Process

Wedding Loan
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Planning a wedding in Singapore?

Like anything in Singapore, weddings require a large cash outflow. The total cost of a wedding is elusive to gauge since it largely depends on the type of wedding you want. It will depend on the scale as well as the number of guests you plan to invite.

On average, weddings in Singapore are expected to set couples back by at least S$30,000 to S$50,000. So unless you have a large sum of cash on hand, you may need to get a personal loan. Wedding loans, also known as personal loans, can provide the financial assistance you need for big-ticket spending.

Ultimate List of Wedding Expenses

Coming up with a wedding budget and figuring out how to stick to it can be very challenging. To help you get started, here is a list of the most common expenses and their respective estimated cost range.

Wedding Expense Cost Range

ROM and Solemnization

S$42 for Singaporeans and Permanent Residents

S$380 for foreign couples

Separate solemnization from your wedding banquet (venue booking + lunch reception)

S$2,500 – S$7,000

Wedding Banquet

(S$1,200 x 15 tables of 10 guests)

S$18,000 – S$40,200 (S$1,340 x 30 tables)

Engagement ring

S$2,000 – S$6,000

Wedding Bands

S$400 – S$6,000 for a pair

Wedding gown and suit (bridal package)

S$500 – S$6,000

Pre-wedding photoshoot

S$350 – S$2,200

Pre-wedding videography

S$900 – S$2,200

Wedding photography

S$2,000 – S$4,000

Wedding videography

S$2,000 – S$4,000

Wedding car rental

S$400 – S$600

The simplest and cheapest way to get married is to go to the Registry of Marriages (ROM). It’ll only cost couples S$42. After that, you can choose to treat your family and friends to a buffet.

That said, weddings can cost significantly more if you prefer an extravagant wedding. Some of the most expensive items on this list are the wedding banquet, bridal package, wedding photography, and videography.

groom putting ring on brides finger

How Much Can Wedding Loans Cover?

There are different types of wedding loans available for couples. There are wedding loans that only offer small amounts while others can provide up to 10X your monthly salary.

For instance, DBS Cashline or Personal can get you quick cash of up to 10 times your monthly salary if you have an annual income of more than S$120,000.

As such, a wedding loan or personal loan can cover between S$10,000 to S$70,000, depending on your budget. You may be able to offset the expenses with the red packets you’ll receive at your wedding. However, it’s best to borrow an amount you can repay.

Where To Apply for a Wedding Loan in Singapore

1. DBS Cashline or Personal Loan

DBS Cashline gives you quick access to cash, making it a great option for couples planning a wedding. You can withdraw cash from any DBS/POSB ATMs on the island to get your money. You can also use it to transfer payments to your vendors’ accounts or issue cheques from your Cashline account.

Features at a glance

  • Loan up to 10x your monthly salary for borrowers with an annual income of S$120,000 and above.
  • Low daily interest rate of 0.06%^
  • No early payment fees
  • Available auto top-ups


  • Singapore Citizen or Singapore Permanent Resident
  •  21-70 years old
  • Minimum annual income of S$20,000

You can apply for DBS Cashline via DBS’ digibank app.

Another option is DBS’ Personal Loan where you can get up to 10x your monthly salary. Additionally, it has an affordable fixed interest rate of as low as 2.88% p.a. + 1% processing fee. The loan tenure ranges from 1 year to 5 years.

2. HSBC Personal Loan

On the lookout for the lowest annual interest rate on the market? Consider taking out an HSBC Personal Loan. You can borrow a minimum of S$10,000 up to S$200,000. HSBC also boasts an annual interest rate of 3.2% with no processing fee.

Features at a glance

  • Minimum loan amount of S$10,000
  • 1-minute in-principle hassle-free approval
  • Annual interest rate of 3.2% p.a.
  • 1-7 years loan tenure


  • Singapore Citizen or Singapore Permanent Resident
  • Minimum annual income of S$30,000
  • Minimum annual income of S$40,000 for foreigners residing in Singapore

3. UOB Personal Loan

UOB Personal Loan also offers fast loan approvals and you can borrow up to 95% of your credit limit. Additionally, they offer one of the most affordable interest rates of 3.4% p.a. All you have to do is borrow a minimum loan amount of S$1,000.  This loan plan also offers up to S$1.500 cash rebate (promo ends 31 August 2022).

Features at a glance

  • Instant approval and cash disbursement
  • Low interest rate of 3.4% p.a. (EIR from 6.36%)
  • Waiver of processing fees for loan tenure 24 to 60 months only
  • Loan tenure of up to 60 months


  • Existing UOB Credit Card/CashPlus customer
  • Singapore Citizen or Singapore Permanent Resident
  • 21-65 years old
  • Minimum annual income of S$30,000

4. Citi Quick Cash Loan

Do you have a Citibank credit card? Convert your credit card’s credit limit into readily available cash with Citi Quick Cash. You can pay it in monthly installments of up to 5 years.

Features at a glance

  • Convert credit limit to cash in your Citi Deposit Account in 60 seconds
  • Repay the plans for up to 60 months
  • No documents are required and no hidden fees
  • Enjoy up to S$450 in GrabFood vouchers (promo valid till 31 July 2022)


  • Must have a Citibank Ready Credit or Citi Credit Card
  • Singapore Citizens or Permanent Residents
  • Minimum annual income requirement of S$30,000 for Singaporeans and PRs
  • Minimum annual income requirement of S$42,000 for foreigners

5. Standard Chartered CashOne Personal Loan

One of the best wedding loans on the market is Standard Chartered CashOne Personal Loan. It offers up to 4x your monthly income if you earn an annual income of S$30,000 and above. Plus, it has a low minimum income requirement of S$20,000.This personal loan plan offers cashback options depending on your principal sum.

Features at a glance

  • Get up to S$3,100 cashback upon approval
  • Annual interest rate of 3.48% p.a. (EIR from 6.95% p.a.)
  • Loan tenure of up to 5 years
  • Cash is disbursed to any existing account of your choice within 15 minutes


  • Singaporean Citizens or Permanent Residents
  • Foreigners
  • 21 to 65 years old
  • Minimum annual income requirement of S$20,000 for Singaporeans and PRs
  • Minimum annual income requirement of S$60,000 for foreigners

6. Licensed Moneylenders

What if you don’t qualify for traditional bank loans? No need to fret!

Apart from banks, there are other financial institutions that can provide financial assistance to cover your wedding costs. You may want to get a personal loan from a licensed moneylender in Singapore.

But is borrowing from licensed moneylenders safe?

All licensed moneylenders in Singapore are required to follow the rules set by the Ministry of Law. As such, before dealing with the first lender you come across, check MinLaw’s list of licensed moneylenders.

Additionally, there’s a limit on interest, late fees, and other costs that they can charge borrowers:

  • Interest rate not more than 4% per month
  • Late interest of not more than 4% per month
  • A late fee not exceeding S$60 per month
  • Administrative fee not exceeding 10% of the principal loan
  • Legal costs ordered by the court for the licensed moneylender to recover the loan amount.

So how much can you borrow from such a loan?

Borrower’s annual income

Singapore Citizens and Permanent Residents

Foreigners residing in Singapore

Less than S$10,000



At least S$10,000

and less than S$20,000


At least S$20,000

6 times monthly income

6 times monthly income

Why borrow from licensed moneylenders?

  • Hassle-free and fast loan approvals
  • Fast cash loan service
  • Fewer restrictions with regards to citizenship and income
  • A good option if you don’t qualify for bank loans

How To Apply

Traditional Bank Wedding Loans


  • Singapore Citizen or Singapore Permanent Resident
  • Minimum age: 21-65 years old
  • Minimum yearly income:
    • For Singapore Citizens or Permanent Residents: S$20,000 or S$30,000 (depending on the bank)
    • For Foreigners: S$60,000 (some banks don’t offer personal loans to foreigners)

Note: Some banks may require you to be an existing customer or to have an existing credit card to avail of their credit line or personal loan packages. It’s best to check the eligibility requirements of the bank you’re considering.


  • A copy of your NRIC (front and back)
  • Past 12 months’ worth of CPF statement or
  • Latest Income Tax Notice Assessment
  • Latest original computerized payslip
  • Self-employed borrowers may need to present the last 3 months’ worth of their bank statements

Licensed Moneylenders


  • Singaporeans, Permanent Residents, or Foreigners
  • 21 years and above
  • Minimum monthly income:
    • For Singapore Citizens or Permanent Residents: S$2,000
    • For Foreigners: S$3,000


For Singaporeans or Permanent Residents

  • Copy of your Identity Card or NRIC
  • Proof of residence, such as a utility bill, a letter addressed to you, or a tenancy agreement
  • Proof of employment, such as a recent 3 months’ worth of payslips
  • SingPass to log into CPF, HDB, or IRAS website

For Foreigners

  • Copy of your passport
  • Work Permit / S-Pass / Employment Pass
  • Proof of residence, such as a utility bill, a letter addressed to you, or a tenancy agreement
  • Proof of employment, such as a recent 3 months’ worth of payslips
  • Proof of income, such as bank or account statement
  • SingPass to log into IRAS website

To help you find the best loan packages, you can use online loan comparison tools, such as Loan Advisor. Get free quotes to help you find the best interest rates, terms, and tenure to suit your needs.

Tips To Get a Better Deal on Your Wedding Loan

  • Be Financially Stable: If you’re planning to apply for a traditional bank loan, it’s best to have a steady income and employment. Banks are more inclined to offer high loan amounts to borrowers whose yearly income meets the bank’s requirements.
  • Have Minimal Debt: Make sure that you have sufficient emergency funds and can pay off your existing debt obligations before you take on another personal loan. Additionally, you have a higher chance of getting approved if you don’t have a mountain of debt in your credit history.
  • Improve Your Credit Score: A good credit score will help you get lower interest rates. A bad credit score, on the other hand, will put you at risk of rejection. Creditors are less likely to approve your loan if you have a history of late payments.

That said, before applying for a personal loan, requesting a copy of your credit report is best. You can purchase a copy from the Credit Bureau Singapore (CBS) at S$6.42. You can pay by Visa, MasterCard, or eNETS.

Here’s how:

  • Request a softcopy online or
  • Request a hardcopy at any of the SingPost branches, at the Credit Bureau office, or at CrimsonLogic Service Bureaus.
  • Pay S$6.42 (including GST) + S$2.00 for multiple delivery modes.


Planning a wedding can be as exciting as it is overwhelming. Having a clear idea of your wedding budget at the start will help you make smart decisions later on. The right wedding loan can help cover wedding costs and give you a financial boost.

Key takeaways

  • Average wedding costs in Singapore are expected to set couples back by at least S$30,000 to S$50,000.
  • There are wedding loans that only offer small amounts while others can offer up to 10X your monthly salary.
  • For example, DBS Personal Loan allows borrowers to loan up to 10x their monthly salary.
  • To get a better deal on your personal loan, make sure that you have a good credit score.

Before you apply for a personal loan of your choice, compare your loan options first. Make smart decisions by having the latest information on financial products. Loan Advisor will help you find, compare, and secure the best loan deals. Request up to three loan quotes for free today!

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