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Offer terms:
Best Egg: Best for Secured wedding loans
Est. APR
7.99-35.99%
Loan amount
$2K-$50K
Min. credit score
600
View details
Qualifications:
Best Egg is worth considering for borrowers looking for a secured loan or to consolidate debt, but the loans come with an origination fee.
- Minimum credit score: 600.
- Maximum debt-to-income ratio: 70% including a mortgage.
- Minimum credit history: 3 years and 1 account.
- Acceptable income sources: Employment, household income, alimony, retirement, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident and at least 18 years of age.
- Origination fee: 0.99% - 9.99%.
LendingClub: Best for Joint wedding loans
Est. APR
8.91-35.99%
Loan amount
$1K-$40K
Min. credit score
600
View details
Qualifications:
LendingClub personal loans are a solid option for good- and fair-credit borrowers looking to consolidate debt and build their credit.
- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
- Origination fee: 3% to 8%.
- Late fee: 5% of payment or $15 after 15-day grace period.
- Insufficient funds: $15.
SoFi Personal Loan: Best for Wedding loans for good credit
Est. APR
8.99-29.99%
Loan amount
$5K-$100K
Min. credit score
None
View details
Qualifications:
SoFi offers online personal loans with consumer-friendly features for good- and excellent-credit borrowers.
- Must be at least 18 years old in most states.
- Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
- Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
- Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
- Origination fee: 0% to 7%.
- Late fee: None.
Prosper: Best for Wedding loans with hardship support
View details
Qualifications:
Prosper accepts borrowers across the credit spectrum and offers competitive rates and fees, plus instant approval.
- Minimum credit score: 560; borrower average is 709.
- Minimum income: No minimum requirement; borrower average is $137,000.
- Maximum debt-to-income ratio: 50% (excluding mortgage); borrower average is 41.05% (including mortgage).
- Must be at least 18 years old.
- Must provide Social Security number and a U.S. bank account.
- Origination fee: 1% to 9.99%.
- Late fee: The greater of $15 or 5% of the unpaid amount.
- Insufficient funds fee: $15.
- Mailed-in payment fee: $5.
Upgrade: Best for Wedding loans with multiple rate discounts
Est. APR
9.99-35.99%
Loan amount
$1K-$50K
Min. credit score
580
View details
Qualifications:
Upgrade personal loans come with multiple rate discounts and offer direct payment to creditors. This lender has a low minimum credit score requirement, making the perks stand out even more.
- Minimum credit score: 580.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
Upstart: Best for Wedding loans for bad credit
Est. APR
7.80-35.99%
Loan amount
$1K-$50K
Min. credit score
None
View details
Qualifications:
Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid choice for financing large purchases.
- Must be a U.S. citizen or permanent resident living in the U.S.
- Must be at least 18 years old in most states.
- Must have a valid email address and Social Security number.
- Must have a full- or part-time job, a full-time job offer starting within six months or another source of regular income.
- Must have a personal bank account at a U.S. financial institution with a routing number.
- No bankruptcies in the last 12 months.
- No current delinquent accounts on your credit reports.
- Fewer than six hard inquiries on your credit report in the last six months, excluding student, auto and mortgage loans.
- Minimum credit score: None.
- Minimum annual income: $12,000.
- Origination: 0% to 12%.
- Late fee: 5% of the unpaid amount or $15, whichever is greater.
- Insufficient funds fee: $15.
Discover® Personal Loans: Best for Wedding loans with fast funding
Est. APR
7.99-24.99%
Loan amount
$2.5K-$40K
Min. credit score
660
View details
Qualifications:
With competitive rates and no origination fees, Discover personal loans are good options for borrowers with good and excellent credit.
- Minimum credit score: 660.
- Minimum annual household income: $25,000. Income can come from employment, retirement, alimony, child support, Social Security payments and disability benefits.
- Must provide a valid U.S. address and email address.
- Must be 18 years old with a valid Social Security number.
- Origination fee: None.
- Late fee: $39.
LightStream: Best for Larger wedding loans
Est. APR
6.99-25.29%
Loan amount
$5K-$100K
Min. credit score
660
View details
Qualifications:
LightStream is a solid option for good-credit borrowers, with no fees and a promise to beat competitors’ rates.
- Minimum credit score: 660, but can vary depending on the loan purpose and amount.
- Maximum debt-to-income ratio: 50%.
- Minimum credit history: 3 years.
- Income sources accepted: Employment, retirement, rental income, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident who is at least 18 years old and has a U.S. bank account.
- Origination fee: None.
- Late fee: None.
Best Egg: Best for Secured wedding loans
Est. APR
Loan amount
Min. credit score
View details
Qualifications:
Best Egg is worth considering for borrowers looking for a secured loan or to consolidate debt, but the loans come with an origination fee.
- Minimum credit score: 600.
- Maximum debt-to-income ratio: 70% including a mortgage.
- Minimum credit history: 3 years and 1 account.
- Acceptable income sources: Employment, household income, alimony, retirement, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident and at least 18 years of age.
- Origination fee: 0.99% - 9.99%.
LendingClub: Best for Joint wedding loans
Est. APR
Loan amount
Min. credit score
View details
Qualifications:
LendingClub personal loans are a solid option for good- and fair-credit borrowers looking to consolidate debt and build their credit.
- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
- Origination fee: 3% to 8%.
- Late fee: 5% of payment or $15 after 15-day grace period.
- Insufficient funds: $15.
SoFi Personal Loan: Best for Wedding loans for good credit
Est. APR
Loan amount
Min. credit score
View details
Qualifications:
SoFi offers online personal loans with consumer-friendly features for good- and excellent-credit borrowers.
- Must be at least 18 years old in most states.
- Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
- Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
- Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
- Origination fee: 0% to 7%.
- Late fee: None.
Prosper: Best for Wedding loans with hardship support
View details
Qualifications:
Prosper accepts borrowers across the credit spectrum and offers competitive rates and fees, plus instant approval.
- Minimum credit score: 560; borrower average is 709.
- Minimum income: No minimum requirement; borrower average is $137,000.
- Maximum debt-to-income ratio: 50% (excluding mortgage); borrower average is 41.05% (including mortgage).
- Must be at least 18 years old.
- Must provide Social Security number and a U.S. bank account.
- Origination fee: 1% to 9.99%.
- Late fee: The greater of $15 or 5% of the unpaid amount.
- Insufficient funds fee: $15.
- Mailed-in payment fee: $5.
Upgrade: Best for Wedding loans with multiple rate discounts
Est. APR
Loan amount
Min. credit score
View details
Qualifications:
Upgrade personal loans come with multiple rate discounts and offer direct payment to creditors. This lender has a low minimum credit score requirement, making the perks stand out even more.
- Minimum credit score: 580.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
Upstart: Best for Wedding loans for bad credit
Est. APR
Loan amount
Min. credit score
View details
Qualifications:
Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid choice for financing large purchases.
- Must be a U.S. citizen or permanent resident living in the U.S.
- Must be at least 18 years old in most states.
- Must have a valid email address and Social Security number.
- Must have a full- or part-time job, a full-time job offer starting within six months or another source of regular income.
- Must have a personal bank account at a U.S. financial institution with a routing number.
- No bankruptcies in the last 12 months.
- No current delinquent accounts on your credit reports.
- Fewer than six hard inquiries on your credit report in the last six months, excluding student, auto and mortgage loans.
- Minimum credit score: None.
- Minimum annual income: $12,000.
- Origination: 0% to 12%.
- Late fee: 5% of the unpaid amount or $15, whichever is greater.
- Insufficient funds fee: $15.
Discover® Personal Loans: Best for Wedding loans with fast funding
Est. APR
Loan amount
Min. credit score
View details
Qualifications:
With competitive rates and no origination fees, Discover personal loans are good options for borrowers with good and excellent credit.
- Minimum credit score: 660.
- Minimum annual household income: $25,000. Income can come from employment, retirement, alimony, child support, Social Security payments and disability benefits.
- Must provide a valid U.S. address and email address.
- Must be 18 years old with a valid Social Security number.
- Origination fee: None.
- Late fee: $39.
LightStream: Best for Larger wedding loans
Est. APR
Loan amount
Min. credit score
View details
Qualifications:
LightStream is a solid option for good-credit borrowers, with no fees and a promise to beat competitors’ rates.
- Minimum credit score: 660, but can vary depending on the loan purpose and amount.
- Maximum debt-to-income ratio: 50%.
- Minimum credit history: 3 years.
- Income sources accepted: Employment, retirement, rental income, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident who is at least 18 years old and has a U.S. bank account.
- Origination fee: None.
- Late fee: None.
Best wedding loan lenders
SoFi: Best for good credit
Minimum credit score: Undisclosed (likely good to excellent credit).
Loan amounts: $5,000 to $100,000.
Repayment terms: 2 to 7 years.
Why we chose them: SoFi’s large loan amounts, flexible terms and unique perks, like free financial planning, make it a standout lender for good-credit borrowers.
» MORE: Read our SoFi review
Upgrade: Best for multiple rate discounts
Minimum credit score: 580.
Loan amounts: $1,000 to $50,000.
Repayment terms: 2 to 7 years.
Why we chose them: Upgrade offers multiple ways to get a lower rate on a wedding loan, like through setting up autopay or enrolling in another Upgrade product, such as a checking account.
» MORE: Read our Upgrade review
Upstart: Best for bad credit
Minimum credit score: None.
Loan amounts: $1,000 to $50,000.
Repayment terms: 3, 5 or 7 years.
Why we chose them: Upstart personal loans are available to borrowers with bad credit scores and borrowers who don’t have enough credit history to generate a score.
» MORE: Read our Upstart review
Discover: Best for fast funding
Minimum credit score: 660.
Loan amounts: $2,500 to $40,000.
Repayment terms: 3 to 7 years.
Why we chose them: Discover can approve applicants the same day they apply for a wedding loan and send the funds to their account as early as the next business day.
» MORE: Read our Discover review
Best Egg: Best for secured loan option
Minimum credit score: 600.
Loan amounts: $2,000 to $50,000.
Repayment terms: 3 to 5 years.
Why we chose them: Best Egg lets borrowers use their home’s fixtures or vehicle as collateral for a secured loan, which can help them qualify for a lower rate or larger loan.
» MORE: Read our Best Egg review
LendingClub: Best for joint loans
Minimum credit score: 600.
Loan amounts: $1,000 to $40,000.
Repayment terms: 2 to 6 years.
Why we chose them: LendingClub’s joint loans let you can add another person, like your partner, to your application and possibly increase your chances of qualifying for a wedding loan.
» MORE: Read our LendingClub review
LightStream: Best for larger loans
Minimum credit score: 660.
Loan amounts: $5,000 to $100,000.
Repayment terms: 2 to 7 years.
Why we chose them: LightStream offers larger loans for borrowers who need to finance more of their wedding, and its longer repayment terms can help keep payments manageable.
» MORE: Read our LightStream review
Prosper: Best for hardship support
Minimum credit score: 560.
Loan amounts: $2,000 to $50,000.
Repayment terms: 2 to 5 years.
Why we chose them: If borrowers fall on tough times, Prosper offers hardship support, which may include reduced monthly payments or an extended loan term.
» MORE: Read our Prosper review
What is a wedding loan?
A wedding loan is an unsecured personal loan you use to pay for wedding expenses.
With a wedding loan, you borrow money from a bank, credit union or online lender and use the funds to pay for the wedding and other related costs — though technically you can use the loan to pay for anything.
You pay back the loan with fixed monthly payments that include interest, usually over one to seven years.
Should you get a wedding loan?
It’s best to pay for your wedding with money you’ve saved, but that isn’t always an option for couples. Wedding loans can help you cover any remaining expenses via a lump sum that has a predictable repayment schedule.
Before choosing a wedding loan lender, make sure you can afford the monthly installments and consider how long you want to be paying off your big day.
Wedding loan pros and cons
Pros of wedding loans
Fast funding: Personal loans can be funded quickly — usually in less than a week but sometimes as fast as the same business day you apply.
Credit reporting: Most lenders report payments to the three major credit bureaus — Equifax, Experian and TransUnion — so you have the opportunity to build credit as you make on-time payments to pay the loan off.
Lump sum: You receive the funds in one lump sum, which can help you stick to your wedding budget.
Fixed monthly payments: Wedding loans have fixed interest rates, so you make the same payment each month. When you’re shopping around, you can compare offers from different lenders to see which monthly payments best fit your budget.
Cons of wedding loans
Rates depend on your credit: Your credit is a major factor in determining whether you get approved for a wedding loan and what rate you get. A low credit score could lead to a high annual percentage rate. Lenders also use your debt-to-income ratio to assess whether you can afford the monthly payment on a wedding loan.
Long terms: You could be repaying your loan for up to seven years with a personal loan.
Pros of wedding loans | Cons of wedding loans |
|---|---|
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How much does a wedding loan cost?
Unsecured personal loan APRs typically range from 6% to 36%. An average wedding in 2023 cost $30,119, according to an annual survey by research site, The Wedding Report. The higher your loan amount, the more money a low interest rate will save you.
Say you get a three-year loan for $15,000 — about half the average wedding cost. On the low end, a 6% APR would have monthly payments of $456 and cost $16,428 overall.
That same loan with a 36% APR would have monthly payments of $687 and cost $24,734 overall.
How to get a wedding loan
1. Pre-qualify and compare wedding loan options
The best wedding loans allow pre-qualification before you apply. Pre-qualification involves a short application and soft credit inquiry, so you can check your potential loan terms without hurting your credit score. You’ll need to supply basic personal information and details about the loan you want, like desired amount and repayment term.
Since rates vary, it’s smart to pre-qualify with multiple wedding loan lenders to better compare loan offers. Online lenders are more likely to offer pre-qualification, though some banks and credit unions do, too.
» Get started: Pre-qualify for free with NerdWallet
Nerdy Tip
If you’re worried about qualifying for a wedding loan, there are ways to boost your chances of getting approved. This may include checking your credit report for errors, like accounts that aren’t yours or inaccurate credit limits, or paying off small debts. You may also consider a co-signed loan or joint loan. Adding someone with better credit or a higher income to your application can help you get approved.
2. Submit your application
Once you’ve pre-qualified and decided on a wedding loan lender, you’ll need to formally apply for the loan. Whether you’re applying with a bank, credit union or online lender, most applications are completely digital.
As part of the application, you’ll be asked to provide personal and contact information, like proof of identification, Social Security number, address and phone number. You may also need to provide proof of employment and income and information on any debts.
Once you submit your application, the lender will conduct a hard credit pull and make an approval decision. While some decisions are instantaneous, other lenders may take a few days, especially if the lender needs more information.
» MORE: How to apply for a personal loan
3. Get funded
Once approved, you’ll receive the loan agreement, which you’ll need to review and sign. Funds are then deposited into your bank account and available for use.
The best wedding loans offer same-day funding, while others may take up to a week to send the funds. You can also choose to receive a check, though this may delay funding time further.
Once you receive the funds, make a plan for repayment. Missing a loan payment can hurt your credit score and trigger late fees.
» MORE: How to manage your personal loan
How wedding loans affect your credit score
There are two ways a wedding loan can affect your credit score.
When a wedding loan lender conducts a hard credit pull during the application process, a few points are temporarily knocked off your credit score.
If you’re approved for the loan, your payment history will also be reported to the credit bureaus. While a history of on-time payments can help build credit, making late payments or defaulting on the loan can hurt your score.
Wedding loan alternatives
Compare other options for financing your wedding so you can celebrate your big day feeling confident you’ve made the right financial choice.
Savings: With a long enough engagement, you and your partner may be able to save up to cover the cost of the wedding, interest-free.
Financial experts don’t recommend incurring debt for discretionary expenses, like a wedding. Instead, estimate your wedding’s cost and then choose a strategy for saving.
0% APR credit cards: You may be able to pay for the wedding interest-free with a 0% APR credit card. The zero-interest promotional period on these cards can last up to 21 months.
You usually need good or excellent credit to qualify for this type of card. Be mindful of the card’s typical APR, which will take effect if you can’t pay the balance during the promotion.
» COMPARE: Best 0% APR credit cards
Rewards cards: You can put some of your expenses — like the dress and decorations — on a rewards credit card and potentially get cash back. A travel rewards card could help you put money toward your honeymoon, too.
Some of these cards also require good or excellent credit to qualify, and you may not get rewarded for all of your expenses. But they’re an option if you’re going to use your own cash to cover some of the costs.
» COMPARE: Best credit cards for wedding expenses
Downsize: You can also try to pare down the guest list or find other ways to save on your wedding.
Whichever option you choose, create a budget with your partner and find a way to pay for the big day that costs the least in interest. Credit card issuers and most online lenders charge no penalty for early repayment.
Last updated on October 3, 2024
Frequently asked questions
- Can you get a loan for a wedding?
A wedding loan is one way to finance your wedding. These are unsecured personal loans, typically up to $50,000. Borrowers with good or excellent credit may qualify for the lowest rates.
- Where do you get a wedding loan?
You can get a wedding loan from an online lender, bank or credit union. It’s best to pre-qualify with multiple lenders to compare rates.
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Methodology
NerdWallet’s review process evaluates and rates personal loan products from more than 35 financial technology companies and financial institutions. We collect over 50 data points and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.
NerdWallet's Best Wedding Loans of 2024
- Best Egg: Best for Secured wedding loans
- LendingClub: Best for Joint wedding loans
- SoFi Personal Loan: Best for Wedding loans for good credit
- Prosper: Best for Wedding loans with hardship support
- Upgrade: Best for Wedding loans with multiple rate discounts
- Upstart: Best for Wedding loans for bad credit
- Discover® Personal Loans: Best for Wedding loans with fast funding
- LightStream: Best for Larger wedding loans
