Best Wedding Loans

Where to Get a Personal Loan for Your Wedding

We recommend the best products through an independent review process, and advertisers do not influence our picks. We may receive compensation if you visit partners we recommend. Read our advertiser disclosure for more info.

Few things are more exciting than the thrill of getting engaged. But once the newness wears off, you may face the challenge of paying for a wedding. Unfortunately, it may be more expensive than you expect.

The median budget for an American wedding is $20,000, according to the Weddings & Money 2021: A Brides and Investopedia survey. That's honeymoon not included. If you're short on cash, you may consider borrowing money to make up the difference. One popular option is applying for a personal loan. In fact, 19% of couples surveyed said they planned to take out a loan to pay for their weddings in 2021.

We've created a list of the best wedding personal loans to narrow down the options. We looked at the most competitive loans—along with 25 important data points. Here's how to decide on the best wedding loan to pay for your big day.

Best Wedding Loans of October 2022

Below are Investopedia's top-rated lenders, loan amount and availability may vary by state.
Best for Good to Excellent Credit
LightStream
Investopedia's Rating
4.0
  • 4.49% - 20.49% APR with Autopay Discount
  • 680 Estimated Min. Credit Score
  • $5,000 - $100,000 Loan Amount
Best for Bad Credit
OneMain Financial
Investopedia's Rating
2.9
  • 18.00% - 35.99% APR
  • 0 Estimated Min. Credit Score
  • $1,500 - $20,000 Loan Amount
Best for Unemployment Protection
SoFi
Investopedia's Rating
4.7
  • 7.99% - 23.43% APR with Autopay Discount
  • 660 Estimated Min. Credit Score
  • $5,000 - $100,000 Loan Amount
Best for Wedding Debt Consolidation
Marcus
Investopedia's Rating
3.0
  • 6.99% - 24.99% APR
  • 720 Estimated Min. Credit Score
  • $3,500 - $40,000 Loan Amount
Best for Engagement Rings
Best Egg
Investopedia's Rating
3.3
  • 7.99% - 35.99% APR
  • 700 Estimated Min. Credit Score
  • $2,000 - $35,000 Loan Amount
If youre not seeing anything in the results that are a good fit for your needs, consider warranties from these companies:
Why Trust Us
38
Lenders reviewed
40
Loan features considered
1,520
Data points analyzed
112
Primary data sources used
Investopedia collected key data points from several lenders to identify the most important factors to borrowers. We used this data to review each lender for fees, accessibility, repayment terms, and other features to provide unbiased, comprehensive reviews to ensure our readers make the right borrowing decision for their needs.

Best for Good to Excellent Credit : LightStream

Investopedia's Rating
4.0

  • APR Range: 4.49% - 20.49%
  • Time To Receive Loan: 0 Days*
  • Loan Amount: $5,000 - $100,000
Why We Chose It

LightStream, an online division of Truist Bank, offers wedding loans with rates as low as 5.73% (with autopay and excellent credit). The company pledges to beat any competitor by at least 0.10%. Borrowers with excellent credit may qualify for loan amounts up to $100,000. LightStream’s competitive rates, large loan amounts, and quick funding make it an attractive option for borrowers with excellent credit.

Pros
  • Rates start at 5.73%

  • No origination, prepayment, or late payments fees

  • Same-day funding with approval, signing, and verification before 2:30 p.m. ET

Cons
  • Excellent credit required for the lowest rates

  • You can't check rates without a hard pull on your credit score

  • Online application only

Other important information:

  • Minimum/maximum amounts you can borrow: $5,000 to $100,000
  • Qualifications: You must have several years of strong credit history, a mix of accounts. LightStream also looks for steady income and savings.
  • Repayment terms: 24 to 84 months* (maximum term length for loans of $5,000 to $24,999 is 72 months)
  • Fees: There are no personal loan fees.
  • APR range: Rates start at 5.73% (with autopay and excellent credit)
  • Minimum credit score: LightStream doesn’t specify a minimum credit score, but it does say that excellent credit is needed for the lower interest rates.
  • Time to receive funds: You may receive funds the same business day with loan approval, signing, and verification before 2:30 p.m. ET. 
  • Restrictions: You can only use the loan proceeds for the purpose listed on your application. 

Best for Bad Credit : OneMain Financial

Investopedia's Rating
2.9

  • APR Range: 18.00% - 35.99%
  • Time To Receive Loan: 2 Days
  • Loan Amount: $1,500 - $20,000
Why We Chose It

OneMain Financial, which has more than 1,400 branches, offers wedding loans for borrowers with credit challenges. The company offers unsecured and secured personal loans with annual percentage rates (APRs) starting at 18%, and some borrowers may pay an origination fee as high as 10%. OneMain Financial does offer fast funding and the ability to prequalify, though.

Pros
  • Borrowers with less-than-perfect credit can still qualify

  • You can prequalify and check rates with a soft credit inquiry

  • Depending on what time you're approved, you can get the funds that day

Cons
  • Some competitors offer better rates

  • The maximum loan is $20,000

  • Origination fees that vary with location

Other important information:

  • Minimum/maximum amounts you can borrow: $1,500 to $20,000
  • Qualifications: You must have a responsible credit history and sufficient income after monthly expenses. OneMain Financial may also have collateral requirements.
  • Repayment terms: 24, 36, 48, or 60 months
  • Fees:
  • Origination fees: 1% to 10% or flat fees from $25 to $500
  • Late payment fee: 1.5% to 15% or flat fees from $5 to $30
  • Non-sufficient funds fee: $10 to $50
  • APR range: 18.00% to 35.99%
  • Minimum credit score: OneMain Financial does not disclose its minimum credit score requirements on its website. The lender states that you have to meet its credit standards to qualify, including responsible credit history, satisfactory debt-to-income ratio, and available collateral.
  • Time to receive funds: OneMain Financial may transfer the money on the same business day.

Read the full review: OneMain Financial Personal Loans

Best for Unemployment Protection : SoFi

Investopedia's Rating
4.7

  • APR Range: 7.99% - 23.43%
  • Time To Receive Loan: 0 Days
  • Loan Amount: $5,000 - $100,000
Why We Chose It

SoFi, an online finance company, offers a competitive option for wedding personal loans. The company offers rates as low as 7.99% and exclusive member benefits. You may borrow up to $100,000 and enjoy SoFi’s unemployment protection policy.

Pros
  • Rates start at 7.99% for wedding loans

  • You can prequalify with a soft credit check 

  • Unemployment protection 

Cons
  • Excellent credit needed for their lowest rates

  • Competitors may offer better rates

Other important information:

  • Minimum/maximum amounts you can borrow: $5,000 to $100,000
  • Qualifications: Sufficient income and responsible financial history
  • Repayment terms: 24 months to 84 months
  • Fees: There are no personal loan fees.
  • APR range: 7.99% to 23.43% (includes 0.25% autopay discount)
  • Minimum credit score: The lender doesn’t confirm its minimum credit score requirement on its website. But it does state that it will consider factors such as your financial history, credit score, and debt-to-income ratio.
  • Time to receive funds: Same day funding is possible
  • Restrictions: You must be at least 18 years old and either a U.S. citizen, permanent resident, or visa holder. You must reside in a state where they are authorized to lend.

Best for Wedding Debt Consolidation : Marcus

Investopedia's Rating
3.0

  • APR Range: 6.99% - 24.99%
  • Time To Receive Loan: 1 Days
  • Loan Amount: $3,500 - $40,000
Why We Chose It

Marcus by Goldman Sachs is a solid option if you’re looking for wedding debt consolidation. The company may pay your creditors directly, with a personal loan of up to $40,000. Borrowers with good to excellent credit may qualify for rates as low as 6.99%.

Pros
  • Fee-free personal loans

  • You can check rates with a soft credit check

  • Change the payment due date up to three times

Cons
  • Borrowers need good to excellent credit

  • Borrowers with excellent credit can find better rates elsewhere

  • Takes longer to get funds compared to other lenders

Other important information:

  • Minimum/maximum amounts you can borrow: $3,500 to $40,000
  • Qualifications: Marcus is looking for borrowers with good to excellent credit. The loan terms and rates depend on your creditworthiness, income, and loan purpose.
  • Repayment terms: 36 to 72 months
  • Fees: There are no personal loan fees.
  • APR range: 6.99% to 19.99% (doesn’t include 0.25% autopay discount)
  • Minimum credit score: Not stated, but should be at least decent.
  • Time to receive funds: Within 5 days
  • Restrictions: You must be over 18 (or over 19 in Alabama, 21 in Mississippi and Puerto Rico), with a valid U.S. bank account and Social Security number or Tax I.D. number.   

Best for Engagement Rings : Best Egg

Investopedia's Rating
3.3

  • APR Range: 7.99% - 35.99%
  • Time To Receive Loan: 1 Days
  • Loan Amount: $2,000 - $35,000
Why We Chose It

Best Egg is another popular online lender with competitive rates starting at 7.99%. The company offers personal loans for life’s big events—including your wedding. You may borrow between $2,000 to $50,000 and apply for a second loan if your existing loan with Best Egg is in good standing.

Pros
  • Rates start at 5.99% for personal loans

  • Prequalify with a soft credit check

  • Borrowers can qualify with a 640 credit score

Cons
  • Origination fees from 0.99% to 8.99%

  • Returned and late payment fees

  • Best rates reserved for 700+ credit scores and $100,000+ incomes

Other important information:

  • Minimum/maximum amounts you can borrow: $2,000 to $50,000
  • Qualifications: Best Egg considers your credit score, credit history, and debt-to-income ratio.
  • Repayment terms: 36 to 60 months
  • Fees: There is an origination fee of 0.99% to 8.99%. Returned payment and late payment fees may apply
  • APR range: 7.99% to 35.99% (includes 0.99% to 8.99% origination fee)
  • Minimum credit score: Best Egg requires a minimum credit score of 640.
  • Time to receive funds: After verification, you may receive the money within one to three business days.
  • Restrictions: You can’t borrow more than $50,000 combined. 

Compare the Best Wedding Loans of October 2022

Overall Rating Best For
APR Range
Average Origination Fee
Late Fee
Time To Receive Loan
Loan Amount
Latest Repayment
Reset All
LightStream
4.0
Best for Good to Excellent Credit 4.49% - 20.49% 0.00% - 0.00% $0.00 - $0.00 0 Days* $5,000 - $100,000 240 Months Check Rates
Hide, not for me
OneMain Financial
2.9
Best for Bad Credit 18.00% - 35.99% 1.00% - 10.00% $5.00 - $30.00 2 Days $1,500 - $20,000 60 Months Check Rates
Hide, not for me
SoFi
4.7
Best for Unemployment Protection 7.99% - 23.43% 0.00% - 0.00% $0.00 - $0.00 0 Days $5,000 - $100,000 84 Months Check Rates
Hide, not for me
Marcus
3.0
Best for Wedding Debt Consolidation 6.99% - 24.99% 0.00% - 0.00% $0.00 - $0.00 1 Days $3,500 - $40,000 72 Months Check Rates
Hide, not for me
Best Egg
3.3
Best for Engagement Rings 7.99% - 35.99% 0.99% - 5.99% N/A 1 Days $2,000 - $35,000 60 Months Check Rates
Hide, not for me
*APR ranges for some companies include a discount for automatic payments or existing bank customers.

Can You Take out a Loan for a Wedding?

If you don’t have the cash to pay for a wedding, you may borrow the money with a personal loan. You can use the proceeds to pay for the venue, catering, live music, and more. To qualify, most lenders will consider your income, employment, credit history, and debt-to-income ratio.

Are Wedding Loans a Good Idea?

It depends. If you have good to excellent credit, you may qualify for the most competitive wedding loans. These personal loans may have lower interest rates than the average credit card. But you need to weigh the pros and cons before applying. 

It may be challenging to start a marriage with thousands of dollars in debt. In many cases, it may be better to consider alternatives to taking on debt—like saving more money or asking your family to chip in.

41%

of couples surveyed for the Weddings & Money 2021: A Brides & Investopedia study said they planned to use a credit card to pay for their wedding, which can bring risks of rising APRs over time.

How to Get a Wedding Loan with Bad Credit

It may be difficult to find competitive wedding loans with bad credit. You may have fewer options or wind up paying higher interest rates. You may save money by taking a few months to improve your credit score or applying with a cosigner. 

Where to Get a Wedding Loan

There are several options for getting a wedding loan. These options may include:

Banks

You can apply for a wedding loan through a traditional or brick-and-mortar bank such as:

Lender APR Terms
TD Bank 6.99% to 19.99% 36 to 60 months
Wells Fargo 5.74% to 20.99% with relationship discount 12 to 84 months


Credit Unions

You may find attractive wedding loan options through non-profit credit unions including:

Lender APR Terms
Alliant Credit Union 10.49% to 12.49% with autopay discount 12 to 60 months
Navy Federal Credit Union 7.49% to 18% Up to 60 months
PenFed Lowest rate is 7.74% Up to 60 months


Online Lenders

Online lenders without a physical location may offer wedding loans including:

Lender APR Terms
LightStream 5.73% to 19.99% with autopay discount* 24 to 84 months*
Marcus by Goldman Sachs 6.99% to 19.99% 36 to 72 months
SoFi 7.99% to 23.43% with autopay discount 24 months to 84 months


Peer-to-Peer Lenders

You may also explore wedding loan options with peer-to-peer lenders. These companies offer lending and borrowing between individuals.

The Bottom Line

A wedding loan can be an affordable way to pay for your big day—especially when compared with the cost of credit card debt. But it’s important to weigh the risks of a personal loan and whether you can afford the payments. If it feels like too much, it may be worthwhile to explore other options like extending your engagement, slashing your wedding budget, or asking for gifts.

How We Chose the Best Wedding Loans

Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of personal loan lenders for all borrowing needs. We collected over 25 data points across more than 50 lenders, including interest rates, fees, loan amounts, and repayment terms, to ensure that our content helps users make the right borrowing decision for their needs.

*Lightstream Disclosure: Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $300.00.

Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. LightStream. "Wedding Financing."

  2. OneMain Financial. "Personal Loans."

  3. SoFi. "Wedding Loans."

  4. Marcus by Goldman Sachs. "We're Offering Personal Loans With No Fees."

  5. Marcus by Goldman Sachs. "We're Offering Personal Loans With No Fees."

  6. Best Egg. "Special Occasions."

  7. Best Egg. "Special Occasions."