Your wedding will be one of the most exciting days of your life – but it can also be one of the most expensive. According to a recent wedding industry report, the average cost of an Australian wedding in 2025 is $35,315.
A personal loan can help you manage the costs by giving you a lump sum upfront, allowing you to cover expenses as they arise and keep your budget on track.
What rate can I expect for a wedding loan?
The interest rate you'll get for your wedding loan will vary depending on a number of factors, such as your personal profile and whether the loan is secured or unsecured.
These are the lowest rates available through Savvy as of October 2025.
What can I spend my wedding loan on?
A personal loan can be used to pay for a range of wedding costs, giving you the flexibility to cover your entire celebration or just certain elements. This can include:
- Venue hire
- Wedding dress
- Suits
- Rings
- Catering
- Flowers
- Decorations
- Photography
- Entertainment
- Cake
- Transport
There are several benefits to funding your wedding this way:
- Immediate access to funds: a wedding loan gives you a lump sum of money upfront, allowing you to cover large expenses or smaller costs when you need to.
- Cheaper than credit cards: personal loans often have lower interest rates than credit cards, helping reduce the overall cost of borrowing.
- Avoid draining savings: taking out a loan means you won’t have to dip into emergency funds to cover costs, giving you financial peace of mind.
- Reduced financial stress: fixed repayments and clear loan terms make it easier to budget and plan your special day with confidence.
Wedding cost scenario
Let’s look at how a wedding loan might work in practice:
Emma and Liam are getting married next spring. Their wedding budget started at $15,000, but additional expenses have pushed the total $10,000 higher. Rather than exhausting their savings, using multiple credit cards or juggling different payment plans for individual items, they decide to simplify the process by taking out an unsecured personal loan. This allows them to cover costs as they arise and have one simple repayment to manage.
Here’s how the costs could work over a three-year loan with an interest rate of 5.85% p.a.:
- Monthly repayment: $304
- Total interest paid: $927
- Total amount to repay: $10,927
Note: This example does not include other costs or fees associated with the loan.
This approach lets Emma and Liam cover the extra costs while keeping their wedding within their budget and their finances under control.
Why apply for a personal loan with Savvy?
How to apply for a wedding loan online
-
Apply online
Fill out our quick online form with information about yourself.
-
Provide your documents
Submit the required documents through our secure online portal.
-
Speak to a Savvy broker
A member of our team will reach out to talk you through your personal loan options.
-
Submit your application
Your broker will prepare your application and submit it to your lender.
-
Settle your loan
Once approved, we’ll handle loan settlement and you’ll receive the funds to cover your wedding costs!
How can I avoid spending more than I can afford with a wedding loan?
According to Easy Weddings’ 2025 Australian Wedding Industry Report, couples spend almost 29% over their original budget – and sticking to that budget is the biggest source of stress when planning a wedding, especially with living costs on the rise.
Our own personal loan statistics reveal that the average finance amount requested for wedding expenses through Savvy is $24,265.
If you’re looking to cut down on spending, there are ways to save on your wedding celebrations:
- Set a budget: make a list of all potential wedding expenses and decide which aspects are most important to you. Set a maximum amount you’re willing to spend on each item and try to stick to it. You can also save money by looking for discounts and putting your DIY skills to use rather than paying a professional.
- Borrow only what you need: when you apply for a loan, you and your lender will agree upon a pre-determined amount based upon how you wish to spend the funds and your ability to pay the loan back. It might be tempting to borrow as much as you can, but this could lead to overspending and subsequently higher repayments on the loan.
- Research and compare: compare interest rates and terms from multiple lenders. A lower interest rate translates to significant savings over the loan term, and a shorter loan term will mean higher monthly repayments but less total interest paid.
Wedding loan eligibility and documentation
Eligibility
-
Age
You must be at least 18 years of age
-
Residency
You must be an Australian citizen or permanent resident (or, in some cases, an eligible visa holder)
-
Income
You must be earning a stable income that meets your lender’s minimum threshold (this can start from as little as $20,000 per year)
-
Employment
You must be employed on a permanent, casual or self-employed basis
-
Credit score
You must meet your lender’s minimum requirements related to your credit score and not be bankrupt or under a Part IX debt agreement
-
Contact
You must have an active phone number, email address and online bank account in your name
Documents
-
Personal information
Your full name, date of birth, address and contact details
-
Photo ID
Such as a driver's licence or passport
-
Payslips
Your last two consecutive payslips (or your last tax return if you're self-employed)
-
Assets and liabilities
Information about any assets you own (such as a car or house) and liabilities in your name (such as other loans)
-
Bank statements
90 days of bank statements may be requested, but not always
