Can You Get a Loan for a Wedding?

Planning a wedding is one of the most exciting and wonderful experiences for a couple. But the financial stress can really take a toll. With venues and event features charging more due to “wedding tax”, and the wedding high tempting you to spend more than you need to, you may be wondering, “Can you get a loan for a wedding?” And the answer is yes! Whether you want a big or intimate wedding, a wedding loan can help cover the finances for your dream day. But there are alternatives and ways to cut costs, too. Read on to learn more!

Overview

• Can you get a loan for a wedding?
  • What kind of loan can you get for a wedding?
  • What can I use my wedding loan for?
• How much can I borrow for a wedding loan?
• What is the average cost of a wedding?
• Who can apply for a wedding loan?
• Pros and cons of a wedding loan
• Alternatives to a wedding loan
• How can I cut back on wedding expenses?
• Can you get a loan for a wedding? Related FAQs

Can you get a loan for a wedding?

Yes, you can! Many lenders offer wedding loans to help couples pay for their special day. Just keep in mind that your financial situation and credit score will be taken into consideration by the lender.

What kind of loan can you get for a wedding?

You can get a personal loan, known as a wedding loan, that will help cover the costs of your wedding. Many couples get wedding loans to finance the perfect dress, rings, venue, photographers, and more!

You can borrow a fixed amount of money for your wedding on a secured or unsecured basis. Then, you pay it off in manageable amounts over a set period of time.

What can I use my wedding loan for?

The great thing about wedding loans is that you get to spend the money however you like! Common wedding expenses covered by personal loans include:

• Wedding dress
• Wedding attire
• Venue
• Catering
• Wedding cake
• Transport
• Photographer
• Makeup artist
• Florist
• Event planner

How much can I borrow with a wedding loan?

How much you can borrow for a wedding will depend on the lender you apply with and your personal and financial situation.

You can get a loan for a wedding of up to $65,000 through Oceania Finance’s lender options. Depending on your circumstances and personal preference, you can choose between an unsecured and a secured personal loan. Wedding loans also come with flexible loan terms of 3, 5, or 7 years.

What is the average cost of a wedding?

According to a 2025 study, the average cost for a wedding in Australia is $38,252. Almost a quarter of couples start with a lower budget and end up overspending. It’s no surprise couples wonder if they can get a loan for a wedding! But even though this may be the average cost of a wedding, remember that it is not the expectation. It is very much possible to celebrate significantly under that number!

Who can apply for a wedding loan?

Eligibility criteria will depend on the lender. Generally, to be eligible for a personal wedding loan, you must at least meet the following requirements:

• Be an Australian citizen or hold a valid visa
• Be over 18 or older
• Have not filed for bankruptcy
• Have a regular income and proof of financial stability

Pros and cons of a wedding loan

If you are unable to finance your wedding fully, wedding loans can be an easy and convenient way to cover your expenses. However, not everyone is in a position to commit to a personal loan. Below, we outline the pros and cons of getting a loan for a wedding.

 Alternatives to a wedding loan

There are different wedding finance options other than a personal loan. It’s always good to consider your options first. Here are some popular alternatives for your special day.

1. Out-of-pocket expenses

If you’re planning your wedding well in advance, saving up money is a great place to start. This might not be the ideal scenario for everyone, especially if an unforeseen circumstance arises. But if you are a keen budgeter, paying with cash can be a liberating feeling.

2. Family and friends

According to Western tradition, the family of the bride should pay for the wedding. But in this day and age, most people find alternative ways to pay for their wedding and share the load. Still, there’s no harm in asking family and friends to chip in or even lend you a small loan.

3. Credit cards

Paying with credit cards is a popular method for covering some wedding expenses. If you are happy to borrow money from the bank, this can be a good option for you. Although we recommend proceeding with caution, as fees and interest rates can be high if you don’t pay your closing balance on time.

4. Buy now, pay later

Buy Now, Pay Later (BNPL), such as Afterpay, PayPal in 4, and Klarna, is a fairly new way to finance your wedding. Just note that BNPL options have a spending limit, which is different for each user and can be raised with consistent repayments. BNPL can be available for select items like rings, accessories, suits, and dresses.

How can I cut back on wedding expenses?

If you want to know how to save money during the wedding planning process, it’s best to be wise and cut back on unnecessary expenses. Here are some of the ways you can cut back on costs for your wedding:

1. Avoid overspending on outfits

Everyone wants to look perfect on their wedding day, and you can without overspending. Do your research, compare costs, and consider alternatives to the usual wedding boutiques.

Options for your wedding dress or suit can include:

• Sample sales
• Second-hand (Facebook Marketplace, op shops, Depop, Stillwhite)
• Online stores (check reviews first!)
• Simpler styles or prom dresses
• Renting
• Styles that require no alterations

For jewellery and accessories, you take the above avenues, but you can also see if any friends or family members have anything — then it can be your something borrowed too!

At the end of all the wedding buildup, remember that you will only wear this outfit for one day. As special as it is, it might not be worth the thousand-dollar price tag.

2. Downsize invitations

Remember that every seat at a wedding comes with a price tag! The average cost per person at a wedding is $170 to $220. This cost involves each person’s portion of catering, food, table settings, staff requirements, and venue.

While you might feel obligated to invite all those distant family members, acquaintances, and partners, try to narrow it down to the ones you’re close with. You might just have a more joyful and intimate wedding, surrounded by those you care about most.

3. Book during the off-season

Australia’s peak wedding season runs from September to April, but October, November, and March are the biggest wedding months of the year. Most wedding and party venues will boost their prices at these times, while running discounts in the off-season.

We know that many people dream of a spring or Autumn wedding, but there is still a lot of fun to be had during the other seasons. Rug up with a classy faux fur shawl in the winter with a cosy, candle-lit theme. Or, you can take the festivities to the beach with a more casual summer wedding.

4. Get creative and look for deals

Makeup artists, photographers, caterers, and florists will often offer certain package deals on request. Always try to negotiate for the best deals and prices before finalising.

Also consider asking friends, DIYing what you can, compromising on certain expenses, and getting creative with cheap alternatives. Some examples include:

• If you have a friend who is good with hairstyling or makeup, ask them for a discounted rate (or they might even offer it for free!)
• Go to the local flower market for flowers and thrift some jars for decor
• Ask some amateur or student photographers looking to build their portfolio for a discounted rate
• Ask family or friends to drive the wedding cars instead of hiring fancy cars and limos
• Use a playlist instead of a band or DJ
• Purchase cheaper silver or gold-plated wedding rings (then you can get nicer ones for a vow renewal or anniversary!

5. Choose your caterer wisely

Food is probably one of the biggest reasons why someone might get a loan for a wedding. It definitely takes a huge chunk out of your budget. Look for deals, ask friends and family if they know anyone, and try out newer companies looking for more experience.

Depending on your venue, menu items, ingredients, season, and number of courses, catering can end up costing around $100 per head. That means with just 50 guests, costs have already shot to $5000 — and that doesn’t even include drinks.

While an alternate drop might feel like the most classy and formal kind of wedding catering, other options can lighten the load on the wedding budget, such as:

• Feast style
• Buffet style
• Food trucks
• Finger food (canapes)

6. Consider different venues

You don’t need to choose a typical wedding venue up in a mountain, golf course, ballroom, or winery! You can actually get married anywhere with a registered marriage celebrant. Choosing an alternative wedding ceremony venue can add some personality and reduce costs. Then, you can book a venue for a shorter period for the reception.

Some alternative wedding ceremony venues include:

• Party venues
• Restaurants and pubs
• Local community halls
• A friend’s property or backyard
• Parks

Don’t forget about the local registry! These venues can actually look quite beautiful and handle a lot of the decor and planning for you.

7. Delay your honeymoon

Delaying your honeymoon can really give you some financial breathing room. Especially if you have your wedding in the off-season, you can put off your honeymoon for a more ideal time to visit. This would also take away the stress of planning both a wedding and a honeymoon, giving you the opportunity to split it up and save a bit more.

And if you still want a bit of a getaway after getting married, stay a couple of nights in a nice nearby hotel.

Plan your dream wedding with Oceania Finance

Thinking of getting a loan for your wedding? Oceania Finance has been helping Australian couples cover their wedding expenses for over 20 years. With a range of flexible repayment options to suit your individual needs. Learn more about wedding loan finance options up to $65,000 today.

Can you get a loan for a wedding? Related FAQs

Do wedding loans affect your credit score?

Yes, taking out a loan for your wedding will impact your credit score.

Every time a lender does a “hard” credit check, it will cause a temporary dip in your credit score.

As long as you manage your loan properly and make repayments on time, you can improve your credit score over time. Note that not all lenders are required to provide repayment information to credit bureaus.

Can I do a joint wedding loan with my partner?

Yes, you can get a joint wedding loan with your partner.

Is it better to get a wedding loan than pay with a credit card?

If you only have a few small wedding expenses, it could be easier to simply use your credit card. But some couples might look into a wedding loan if they have larger costs to cover.