Use a Personal Loan to Finance Your Wedding

How much do you need?

What Is a Wedding Loan?

A wedding loan is a personal loan you can use to help pay for your wedding, honeymoon, and related expenses. Securing wedding financing early in the planning process can help reduce stress and allow you to deal with unexpected deposit requests or emergencies.

A loan with a fixed rate can get you the money you need and set you up with predictable monthly payments and an agreed-upon end date for repayment.

Why Get a Wedding Loan?

Cover All Costs
Confidently plan for everything from your engagement to the honeymoon.
Lock in a Fixed Rate
With competitive rates, your monthly payment never increases.
Save money!
Peace of Mind
Predictable monthly payments on a defined repayment term.

Wedding loans can be used for any expenses related to your wedding, including your engagement and honeymoon.

  • Engagement parties

  • Rehearsal dinners

  • Deposits

  • Venues and vendors

  • Wedding rings

  • Attire

  • Air travel and hotels

  • Unexpected expenses

A personal loan for wedding expenses can be a relatively easy and flexible option. Typically, you can check your loan offers without any obligation or impact on your credit scores. After your loan is approved, funds are deposited directly into your bank account, and you can spend the money as needed. You’ll then repay the loan in fixed monthly installments for the repayment term.

Many lenders offer personal loans that can be used for wedding expenses. When deciding which lender is right for you, you’ll want to compare:

  • Loan amounts: Make sure the minimum and maximum loan amounts align with your needs.

  • Repayment terms: A longer loan term can lower your monthly payment, but a shorter term will cost you less overall.

  • Interest rate ranges: The lower your interest rate, the less your loan will cost overall.

  • Eligibility requirements: Loan approval usually is based on your credit score, payment history, and income, among other factors.

  • Fees: Application costs, origination fees, and prepayment penalties vary by lender and may impact your total cost. Compare APR’s across a couple of different lenders to understand the true cost of each loan offer.

  • Joint applications: If you think you might not qualify on your own based on your credit history, work with a lender that accepts co-borrowers and apply together for a joint personal loan.

Personal Loans vs. Credit Card Comparison

Personal Loans

  1. Installment loans can help you pay down debt and take control of your budget
  2. Single, fixed rate monthly payment is easy to manage
  3. Fixed monthly payment and payoff date saves you money over time
  4. Lower average APRs compared to credit cards1

Credit Cards

  1. Revolving credit accounts can lead to overspending
  2. Managing multiple credit cards with variable due dates, limits, and terms is time consuming and stressful
  3. Low minimum monthly payments and revolving compound interest can trap you in a cycle of debt
  4. Higher average APRs are an expensive way to pay for large purchases

What Our Members Say

This last minute loan was a LIFE SAVER! It made my big day a very big success. I had a chance to finish all my last minute shopping including my husband-to-be’s wedding band.

—Keianna, a member from South Carolina 

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How LendingClub Personal Loans Work

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How LendingClub Personal Loans Work

Check Your Rate
Frequently Asked Questions

Wedding loans are unsecured (no collateral required) loans, which means your debt-to-income ratio and credit and payment history all play a big part in determining if you qualify, the amount you can borrow, interest rate, and loan terms.

With LendingClub, you can check your rate and see loan offers without it impacting your credit score.

Many online lenders offer unsecured personal loans you can use to pay for your wedding—and almost any other expense. Some banks and credit unions also offer unsecured personal loans, though many require you to have an account already established with them before you can apply. The best lenders let you check your rate with a soft credit inquiry, which won’t impact your credit score, and offer loans with low fees and interest rates that are repaid over a predetermined length of time.

You may be able to get a wedding loan if you have poor credit. However, your credit history and overall creditworthiness are important factors in determining both your eligibility and the interest rate you’ll receive.

Improving your credit first or submitting a joint application with someone who has better credit can improve your chances of getting a larger loan offer with a more favorable rate.

The average budget for couples on their wedding is over $20,000, not including the cost of an engagement ring or honeymoon. And wedding costs vary depending on where you live and the type of wedding you want. Create a wedding budget that aligns with your vision for the big day, and then decide if you need a loan for wedding expenses.

Using a personal loan for wedding financing could be less expensive than using a credit card, especially if you’re unable to pay the balance off in full within a couple of months. But it depends on your loan’s fees, interest rate, and repayment terms. Keep in mind some wedding vendors will charge a fee if you pay with a credit card or won’t accept them at all. At LendingClub, you can check your rate for free without impacting your credit score, so you can more easily compare your options before making a decision.

You can help keep things moving along by checking your To-Do list and making sure you have submitted all the documents and information requested.

  1. On average, Personal Loans from LendingClub Bank are offered at an APR of 14.81% with an origination fee of 6.00% and a principal amount of $19,169 for loans with term lengths of 36 months, based on current credit criteria and an analysis of historical borrower data between October 2023 and December 2023. For credit card purchases made in December 2023, the average APR was 22.70%, according to publicly available information published by TheBalance.com. If a borrower pays off a credit card balance of $18,019 with an APR of 22.70% over 36 equal monthly payments, the borrower will pay $6,990 in total finance charges. If the borrower obtains a Personal Loan with a term of 36 months and an amount financed of $18,019 (principal amount of $19,169 with an origination fee of $1,150 at 14.81% APR, the borrower’s monthly payment will be $623 and the borrower will pay $4,407 in total finance charges over the term of the loan, a savings of $2,583 as compared to the average credit card for borrowers with average credit scores.

Savings are not guaranteed and depend upon various factors, including but not limited to interest rates, fees, term length, and making payments as agreed. 

Reducing debt and maintaining low credit balances may contribute to an improvement in credit score, but results are not guaranteed. Individual results vary based on multiple factors, including but not limited to payment history and credit utilization.

A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $19,169 for a term of 36 months, with an interest rate of 10.49% and a 6.00% origination fee of $1,150 for an APR of 14.81%. In this example, the borrower will receive $18,019 and will make 36 monthly payments of $623. Loan amounts range from $1,000 to $40,000 and loan term lengths range from 24 months to 60 months. Some amounts, rates, and term lengths may be unavailable in certain states.

For Personal Loans, APR ranges from 8.98% to 35.99% and origination fee ranges from 3.00% to 8.00% of the loan amount. APRs and origination fees are determined at the time of application. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of March 8, 2024 and are subject to change without notice.

Checking a rate through us generates a soft credit inquiry on a person’s credit report, which is visible only to that person. A hard credit inquiry, which is visible to that person and others, and which may affect that person’s credit score, only appears on the person’s credit report if and when a loan is issued to the person. Credit eligibility is not guaranteed. APR and other credit terms depend upon credit score and other key financing characteristics, including but not limited to the amount financed, loan term length, and credit usage and history.

Any reviews presented are individual experiences and results may vary. Reviews are collected and authenticated by Bazaarvoice. Any average rating presented is based on these reviews. All reviews can be accessed at https://www.lendingclub.com/company/reviews.

Unless otherwise specified, all credit and deposit products are provided by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Credit products are subject to credit approval and may be subject to sufficient investor commitment. Credit union membership may be required. Deposit accounts are subject to approval. Deposit products are FDIC-insured up to $250,000 per depositor, per ownership category.

"LendingClub" and the "LC" symbol are trademarks of LendingClub Bank.

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