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Best wedding loans

Choose one of these lenders to help finance your big day

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SoFi and LightStream
Wedding rings on top of hundred dollar bills

Wedding loans let couples and their families borrow what they need, then pay it back with fixed monthly payments. With the average wedding costing $28,000 in 2021, according to a study from The Knot, these loans have become a crucial funding source for many couples’ nuptials.

The best wedding loans help cover the costs involved in planning your big day, with better rates and more predictable terms than credit cards. Wedding loans also come with a fixed repayment schedule, so you'll know exactly when your loan will be paid off.


Key insights:

  • The best wedding loans offer competitive interest rates, low or no fees and flexible repayment plans.
  • To find the ideal wedding loan for your needs, you should consider your credit rating, how much you want to borrow and how much you can afford to repay each month.

Our picks for best wedding loans

Compare top wedding loans

To make our choices for the best wedding loans, we collected 806 data points (26 individual data points for 31 lenders) from popular lenders, including customer reviews and overall ratings from ConsumerAffairs readers. We used these data points to evaluate factors that impact borrowers most, including credit score requirements, loan limits, repayment terms and annual percentage rates (APRs), before making our final selections.

Our picks may be Authorized Partners who compensate us. This does not affect our recommendations or evaluations but may affect the order in which the companies appear.

SoFi
  • $100,000 max loan amount
  • 650 minimum credit score
  • 24- to 84-month repayment terms
  • User star rating: 3.8

While SoFi is best known for its student loans and student loan refinancing options, the company also offers banking and investment products as well as personal loans for any occasion. Its options include wedding loans, which let borrowers access between $5,000 and $100,000 to pay for their nuptials. SoFi offers a fully online loan process that lets applicants get approved and receive their funding without leaving home. Repayment terms can last from 24 to 84 months. APRs on SoFi personal loans range between 7.99% and 23.43% with auto-pay at the time of publishing.

We like SoFi personal loans because they come with no origination fees, no late fees and no hidden fees, although you'll need fair to good credit to qualify.

Read more about this lender and its loan options in our SoFi review.

  • SoFi personal loans come in amounts up to $100,000, which can be useful for couples who are planning a lavish wedding
  • The entire loan process takes place online, which is helpful for couples who are busy planning their big day.
  • Applicants can check rates and gauge their approval odds with no credit score impact.
  • A minimum credit score of 650 is required.
  • The minimum loan amount is $5,000; some couples may not need to borrow that much.
  • Auto-pay is required for the lowest advertised rates.

What do reviewers say?

While many reviewers praise the company for its fast and seamless loan process and helpful customer service reps, some say they were asked to send the same information for their loan application over and over again. One reviewer, Bob from Texas, said that “Sofi came through with an offer at a reasonable rate, much to my surprise, and I jumped on it. All done through website and email. Speed, accuracy, easy, all words to describe [the] transaction.”

LightStream
  • $100,000 max loan amount
  • Minimum credit score not disclosed
  • 24- to 144-month repayment terms
  • User star rating: 3.9

LightStream is another top lender that extends loans for weddings and other big purchases. Its wedding loans come with rates from 7.99% to 23.99% with auto-pay at the time of publishing, and borrowers are able to repay their loan over 24 to 144 months. Borrowers can access between $5,000 and $100,000 in funding for their big day, so these loans could work for nearly anyone.

We like LightStream for wedding loans because its products come with no origination fees and are unsecured. The entire loan process also takes place online, and funding can come as soon as the same business day.

Read our LightStream review for more insights on this lender.

  • LightStream personal loans offer competitive rates and terms with no origination fees or hidden fees.
  • Borrowers can check rates with no impact on their credit score.
  • Loans come in amounts up to $100,000, so they are good for weddings at nearly any price point.
  • Multiple repayment plans are offered, so borrowers have some flexibility when it comes to choosing a monthly payment they can afford.
  • LightStream loans start at $5,000, which is a higher minimum than some competitors.
  • While this lender does not disclose a specific minimum credit score requirement, the company says it only approves applicants with good to excellent credit.
  • Auto-pay is required for the lowest advertised rates.

What do reviewers say?

Positive reviews seem to center on the company's fast and easy loan process, as well as the flexible repayment options and good customer service. However, some past customers of LightStream complain about slow reporting of payments to their accounts and slow loan approvals.

Julie, a reviewer on ConsumerAffairs from Florida, was happy with her LightStream experience, stating, “LightStream could not be any more user-friendly and customer-driven! They plant a tree for every loan! They offer lots of repayment options and allow you to change payment time and amount whenever you need to make it more convenient.”

Upstart
  • $50,000 max loan amount
  • 300 minimum credit score
  • 36- or 60-month repayment terms
  • User star rating: 0.0

Upstart is another company to consider for a wedding loan, particularly for those with imperfect credit. Applicants do not need good credit, and borrowers can access anywhere from $1,000 up to $50,000 to fund their nuptials. Repayment terms are 36 or 60 months, and rates from Upstart range from 6.5% to 35.99% at the time of publishing.

We like Upstart because it works with borrowers with a broad range of credit profiles.

You can read more about this company and its offerings in our Upstart review.

  • These loans are available for borrowers with poor credit or fair credit.
  • Borrow as little as $1,000 or as much as $50,000 for your wedding.
  • Check your rate online with no impact on your credit score.
  • You can get funding as soon as the next business day.
  • Loans may include an origination fee of up to 10% of the loan amount.
  • Interest rates can be high (up to 35.99%) for borrowers with bad credit.
  • Loan amounts are capped at $50,000, so Upstart may not be a good fit for extremely expensive weddings.
  • There are only two repayment terms to choose from — 36 or 60 months.

What do reviewers say?

There are minimal reviews from ConsumerAffairs readers who’ve used Upstart. While these few reviews report a poor experience, it is important to note that they relate only to their unique circumstances and might not reflect the overall picture of working with Upstart.

Credit Direct
  • $40,000 max loan amount
  • Minimum credit score not disclosed
  • 12- to 60-month repayment terms
  • User star rating: 4.1

Credit Direct is another company that may extend wedding loans to borrowers with imperfect credit. The company's terms say it looks at factors other than credit scores to determine approvals, including a borrower's ability to repay the loan.

Couples who choose Credit Direct for their wedding loan can access between $1,000 and $40,000 in loan funds. APRs at the time of publishing range between 5.99% and 29.99% APR. Repayment terms can last from 12 to 60 months, so borrowers can choose a payment amount and repayment plan that suits their budget.

We like Credit Direct due to its ability to approve borrowers based on more than just their credit score, as well as its fully online loan process.

Read more about this company in our Credit Direct review.

  • Credit Direct considers more than an applicant's credit score during the application process.
  • Wedding loans range from $1,000 to $40,000.
  • Interest rates are competitive, and loans that come from Credit Direct (and not their partners) come with no origination fees or hidden fees.
  • Checking your rate doesn’t affect your credit score.
  • The maximum loan amount of $40,000 may not be enough for everyone.
  • Credit Direct only offers loans directly in 12 states: including Alabama, Arizona, Arkansas, California, Florida, Indiana, Louisiana, Maryland, North Carolina, Oklahoma, Pennsylvania and Texas.
  • Credit Direct offers some loans through a lender network; these loans may have different terms.

What do reviewers say?

Positive reviews of Credit Direct praise its fast and easy loan process and positive customer service experiences. Aaron, a reviewer on ConsumerAffairs from Florida, was thrilled with the process and the loan manager: “I applied for the loan one day, and it was funded within two days. Any time that I had a sticking point in the process, I would text Marco and he would respond almost instantly. He was always in contact with me through the whole process. The loan was funded even though I didn't think I had a shot at it. Thank you, Marco and Credit Direct.”

How to get a wedding loan

The requirements for personal loans vary from lender to lender; some require good to excellent credit, and others have no minimum credit score requirement at all. Fortunately, the best lenders for wedding loans let you check your rate and gauge your approval odds before you fill out a full loan application. You can see if you qualify without a hard inquiry on your credit report, as well as see the rate you'll likely pay if you get approved.

Every dollar you borrow is a claim on your future time and earnings. It can be challenging to start a marriage with a huge monthly debt payment because of a wedding."
— Elliott Appel, financial advisor

Once you check your rate with a few lenders, compare personal loan companies based on their rates, loan fees and repayment options. Ideally, you'll find a wedding loan in the exact amount you need with a payment plan that fits your budget. You’ll then follow the application requirements for that lender and wait for approval and disbursement of funds.

That said, financial advisor Elliott Appel says you should be careful about how much you borrow. You should be honest about your budget, and potentially even decide on one or two things you want to spend lavishly on and others you can do without. Making a budget before applying for a loan can help you avoid long-term financial problems.

"Every dollar you borrow is a claim on your future time and earnings," Appel said. "It can be challenging to start a marriage with a huge monthly debt payment because of a wedding."

Before you settle on a monthly payment, Appel recommends making sure your personal loan payment, housing expenses, car payments, student loan payments and any other necessary expenses still give you enough room in your budget to enjoy life and have flexibility.

"If you take out a loan that's too large, the payments may cause stress," he said.

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    Frequently asked questions (FAQ)

    How can I finance my wedding?

    Wedding loans are a type of personal loan ideal for financing a wedding. They typically come with fixed rates and payments and are unsecured. This makes wedding loans different from credit cards, which charge variable rates, and secured loans that require collateral, like home equity loans.

    Is a wedding loan a good idea?

    Wedding loans can be a good idea if you have a budget for your wedding, know how much you can afford to repay each month and don’t mind making a monthly loan payment. However, like all other loan products, it's possible to borrow too much and get in financial trouble. It’s important to compare lender offers so you know you are getting the best deal, and to read over the terms of any loan agreement carefully before you sign.

    What can I use a wedding loan for?

    People use wedding loans to pay for rings, dresses, the ceremony and reception, food and entertainment and honeymoons. Make sure to read the fine print of the loan contract so you know if there are any prohibited uses of your loan funds.

    What kind of loans are there for weddings?

    The most common types of wedding loans are personal loans, a type of installment loan. Other common loans for weddings include home equity loans and home equity lines of credit (HELOCs).

    Bottom line

    The best wedding loan for you lets you borrow what you need, has few restrictions on how you can spend the money for your wedding and gives you an affordable repayment plan. Any of the lenders on this list could work for your needs, but you should take the time to compare them based on loan amounts, APRs, fees, repayment terms, funding times and customer reviews.

    ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ page. Specific sources for this article include:
    1. The Knot, “This Was the Average Cost of a Wedding in 2021.” Accessed October 27, 2022.
    2. FICO, “What is a Credit Score?” Accessed October 27, 2022.
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