The Best Wedding Loan For Your Big Day
Wedding bells are ringing! If you are reading this article, you are probably embarking on your journey to tying the knot – congratulations! This would probably be the biggest day for most people. If you are planning a huge wedding, it would call for big-ticket expenses such as a wedding banquet, catering services, event photography and videography, wedding apparel rentals, wedding bands and the list goes on. A quick and fuss-free wedding loan avails you the opportunity to fund your dream wedding quickly and comfortably, easing your financial strain so you and your loved ones can focus on what truly matters – your happiness.
But first, let us delve into what a wedding loan is and why you should consider applying for one.
What Is A Wedding Loan
A wedding is a joyous affair and a rite of passage for most couples out there. If you are one of the lucky ones to find a significant other to settle down with and start a life together, you would want to make your wedding a day to remember. That said, every wedding has its own budget and in many cases, limited finances tend to deny couples of achieving their dream wedding.
Here’s how a wedding loan can help. A wedding loan is a personal loan specifically used to fund your wedding. It caters for every wedding-related expense, from wedding apparel to event photography to catering services. Getting hitched can be crazy expensive in Singapore, especially if you are planning a relatively huge one. On average, weddings in Singapore cost $30,000 to $50,000. This is not a small sum that most people can save up for especially if they already are buying a flat or have children to think about. The cost of housing in Singapore is expensive as well. To find out more about our wedding loans, click here.
A Wedding Loan With Low Interest Rates & Flexible Repayment Scheme
Let’s say you have managed to save up a good $30,000 for your wedding. It’s great news but you might not want to spend it all at once on the wedding, leaving you with no cash on hand for emergencies.
A personal wedding loan at Goldstar Credit has low interest rates from 2.27% per month and a flexible repayment scheme of up to 12 months. While you are making these repayments, you will still have your savings intact. Say your wedding costs $30,000. At the end of 12 months, at an interest rate of 2.27% per month, you would have only paid approximately $385 on interests alone. That in itself is a relatively small price to pay than the risk of wiping out your entire savings at one go.
In addition, if you are considering paying for your wedding with credit cards, bank loans or other traditional financial means, you must make sure that you have a good credit score as well. These options usually come with high interest rates, which will burn a bigger hole in your pocket at the end of the day.
At Goldstar Credit, our wedding loans can be customized to suit your needs. With a minimum loan of $300 and up to $50,000, you can pay for your wedding in small or bulk amounts depending on your financial situation.
As each couple would have their own dream wedding in mind, it’s wise to set aside a budget on how much you are willing to spend on your big day.
Big-ticket items such as wedding banquets would take up the main bulk of your wedding costs. A wedding banquet can cost anywhere from $30,000 and over $90,000 depending on the extent of your venue customization, number of guests, whether you are hosting it at a higher end hotel and whatnot. Bridal packages can cost you anywhere from $3,000 to $6,000, again depending on many factors such as make-up, bridal gowns, suits, bridesmaid’s dresses and photoshoots.
You will also need to factor in costs for your solemnization, engagement and wedding rings, honeymoon, and for some ethnicities you will need to account for dowry and other traditions.
With these in mind, you should definitely consider taking out a wedding loan for its attractively low interest rates and flexible repayment scheme.
Requirements To Apply For A Wedding Loan
To apply for a wedding loan at Goldstar Credit, you will have to meet the following requirements:
- Be at least 18 years of age
- Be able to provide a proof of income
- Be a Singaporean / PR / EP or S-Pass Holder
Submit an online application through our website
Wait for our loan officer to contact you
After discussing the terms and requirements, you will need to attend an interview
Once that’s done, you can drop by our office to finalize your loan amount and loan terms
Once your loan is approved, you have to sign a contract
Receive your loan in cash on the spot
Don’t let a temporary cash flow problem hinder your plans for your big day. No matter how big or small your wedding plans are, we are here help you embark on your happily ever after! Apply for a wedding loan with Goldstar Credit today or speak to our friendly loan officers to find out more.