Wedding ceremonies are beautiful and mark the start of a new journey with someone else. For most people, especially ladies, this is the most important day of your life; you have been dreaming about it since you were a child. Planning the grand wedding of your dreams anywhere in the world requires a lot of money.

In Singapore, like most cultural places, a grand wedding is pricey. If your parents did not save wedding funds for you, you might spend your whole life saving for a grand wedding and not be with the love of your life. You do not have to spend so much time working extra shifts anymore because you can simply apply for a wedding loan. Companies like raffles credit offer wedding loans at affordable rates so that you can enjoy your wedding ceremony and your marriage after.

What Is A Wedding Loan And How It Works?

A wedding loan is a personal loan in simple terms. A person can get a personal loan to pay for anything. Loaners label wedding loans to make it more personal for people who are going down the aisle together. A wedding in Singapore does not require collateral; you just need a good credit score.

What Are The Advantages?

Weddings in Singapore are binding and serious so you want to be sure a loan is your best option. Here are some of the advantages of getting a wedding loan:

1. A Variety of Options

When shopping for something pricey, it is reasonable to check every shop that sells the same product to get the best deal. The same applies to loans. Many institutions offer wedding loans like banks, online lenders, and credit unions. 

If you put all these options together, you can compare the loan terms, interest rates, and fees from each lender before moving forward. This variety will ensure that you get the best and have the option to repay the loan early without additional charges.

2. The Repayment Terms Are Fixed

Since wedding loans are technically personal loans, they work the same. That means they are both installment loans where you borrow a certain amount and payback during a fixed time frame. You and your lender determine the time, and you can be sure of when you will be debt-free as long as you pay on schedule.

3. More Flexibility

With wedding loans, you can select how much you want to borrow within a specific price range set by the lender. The range of loan prices available to you can also vary based on your credit history and other factors.

4. Lower Interest Rate Potential

Based on your credit history, you might qualify for a lower interest rate on your loan. Better interest on your wedding loan is better than the interest rate and a carrying balance of a credit card.

What Are The Disadvantages?

Like with advantages, you should understand the disadvantages of a wedding loan before you take one. Some of the cons of wedding loans are:

1. Additional Expenses

When you go to get your wedding loan, you have to look at how much it will cost you monthly first. You and your spouse need to be sure that you are willing and able to take the payment amount from your monthly earnings.

If you already have other loans to pay up, like student loans and more, you may want to reconsider adding new debt.

2. The Possibility of Higher Rates

If you don’t have a good credit history, you can spend a lot of money on interest payments. A good credit score will guarantee a better interest rate on the same loan.

The Average Cost of a Wedding in Singapore

Most people say that the average cost of a wedding does not matter as much as the actual marriage. This saying is true, but in a perfect life, your wedding is once in a lifetime. Such an event deserves a massive celebration to the fullest. In Singapore, an average wedding will cost between S$ 30,000 and S$50,000. However, a more glamorous wedding can cost as much as S$100,000.

1. Wedding Banquet

The banquet is the biggest money spender of all; it involves catering, venue, foods, and drinks. A wedding banquet average cost can go up to $36,000-$54,000. This price will cover 30 tables for ten people at a rate of $1,200-$1,800 each. If extra funding for any part of your wedding is required, it will be the banquet.

2. Bridal Package

The bridal package is for the bridal party in a more westernized wedding. The bridal party consists of all the bridesmaids and groomsmen, and the kit includes dresses, suits, shoes, wedding album, make-up, pre-wedding shoot, and other additional items for more flair. The cost range of this segment is approximately $3,000-$6,000.

3. The Engagement / Wedding Rings

Wedding rings and engagement rings are the public symbols of marital unity. The cost of wedding bands will depend on your choice of jewelry and your preference. With wedding rings, some couples replace the older ones later in the marriage when they are more buoyant financially, so no pressure there.

4. Solemnizing the Marriage

The whole wedding day solemnization process, including the location rent and reception, falls within the range of $3000-$5000. This part may fall under the wedding banquet, depending on your wedding planner or agency. 

5. Wedding Videography and Photography

Every moment that a photographer captures at your wedding day is the only keepsake you will get for memory purposes. Videography and photography for weddings always attract different pricing. The typical cost range is approximately $2000-$4000.

6. Wedding Cake and Decorator

A cake is a symbolic part of your wedding, and the decorations and transportation are also another major part. The cake and decorations cost always depends on the style and the designer.

7. Honeymoon

A honeymoon marks the beginning of almost all western marriages. There are many excellent honeymoon spots in Singapore with great deals for couples. The price you will spend on your honeymoon depends on the location and their packages. However, some people get an all-expense paid honeymoon trip as their wedding gifts.

bunch of flowers and leaves on wedding table

Common Types of Wedding in Singapore

Due to Singapore’s multicultural nature, there are different types of weddings. Two of the most famous traditional weddings are Chinese and Malay weddings.

1. Chinese Wedding

Chinese people are famous for traditions. Chinese weddings are the most prominent display of these customs. If you plan to have a Chinese wedding, you should first note that they have elaborate customs. Also, to get full blessings, every segment needs to be adequately fulfilled.

All the items involved in a Chinese wedding require money, and so you may need wedding loans. Here are some of the components of Chinese weddings to help you ahead in your budgeting plans for wedding loans. The ceremonies can be more, depending on the Chinese group.

Proposal & Betrothal, Guo Da Li

Guo Da Li is a vital part of Singaporean Chinese weddings. It is when the groom’s family presents gifts to the bride’s family. The present is a representation of good wishes (fertility and prosperity). Every dialect group has its unique baskets that you can purchase from wedding shops in the city.

Jia Zhuang, Dowry

The dowry is from the bride in Chinese weddings, and it is a crucial part of traditional wedding customs. The dowry usually signifies the woman’s willingness to be a wife. Some of the dowries’ components include baby prosperity sets, sewing kits, and beds that they will place in the couple’s room.

Bed Setting

A female representative of the groom’s family does the bed setting for the couple. It’s part of the bridal package. The bed setting takes place after they have accepted the dowry. The relative sets prosperity lamps by their bedside to wish them well.

Return Gift

The return gift is a part that the bride’s family has to fulfill as a gift to the groom’s family as a formality. It includes a variety of items like shoes for the parents and elders, wedding biscuits, tea leaves, rice flour, lotus seeds, jujube, towels, and orange juice. The amount can be set depending on both parties.

2. Malay Wedding

If you want to have a Malay wedding in Singapore, you will need to know the traditional aspects of the occasion. The occasion includes a lot of elaborate steps on both sides of the family. The reason for inclusion is because it involves the ‘gotong-royong’ kampong spirit. Malay weddings in Singapore are not cheap because standard goods and services are already pricey without adding the nature of the items needed for them. If you want to make a statement with your new bride and her family, you can get a wedding loans Singapore to cover all the expenses.

Merisik Gifts

This program is part of the initial proposal and engagement stage. Here, the groom’s family sends a member with an entourage bearing gifts. However, the burden of buying the right gifts lies on the groom.

Engagement Gifts and Dowry

You need to pay for engagement and dowry before marriage solemnization. You can get the money for all these processes from a loan wedding, all rights reserved.

Marriage Prep Course

Marriage prep for your big day is a necessary step in a Malay wedding. The result of the marriage prep course is a certificate that you will need for the solemnization ceremony. This is also required to get the wedding loan in Singapore.

Marriage Registration

You will need to pay to get a registration certificate. The Registry of Muslim Marriages (ROMM) will provide the document after a witness and the bride meets with them.

Betrothal Gifts (Hantaran)

The families of the bride and the groom prepare gifts for the solemnization ceremony. These gifts include a bunch of things like prayer items, Malay attires, and more modern gifts like laptops, iPads, cards, houses, and more. 

Sirih Dara and Mahar

The Sirih Dara and Mahar are the crucial gifts in a Malay Chinese wedding ceremony. It is a gift from the groom that signifies that the bride is a virgin. Mahar is also from the groom to the bride to symbolize marriage.

What Do You Need to Know Before Taking a Personal Loan for Wedding

Before you take wedding loans, you need to consider all your options first. If it is your only option for your dream wedding, here are eight things to know before you get one.

  • A personal loan is not the perfect long-term solution. All rights reserved.
  • Evaluate any loan you want to convert into a personal one with keen eyes to ensure you are not giving up a better option.
  • A bank is not the only place you can get personal loans from
  • The interest may be more than what you expect.
  • A personal loan can easily consolidate your pre-existing debt.
  • Make all your loan choices wisely with low-interest rates to avoid a lifetime of debt.
  • Your credit card score is more important in a personal loan.
  • Look out for extra fees and hidden charges in your loan amount.


As you begin to plan your big day wedding in Singapore, you don’t need to spend all your time looking for a private loan company for your wedding loan Singapore. You can take a loan with Raffles Credit and reduce the burden of searching for a loaner.

With Raffles Credit, you are sure that there are no hidden fees or charges. Low-interest rates and fixed monthly repayment. Moreover, Getting your wedding loan is fast and easy with Raffle Credit. It’s just like swiping your credit card. We also offer very flexible repayment plans in line with your budget on your big day.