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 2026 is $38,252.
A wedding 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 is a wedding loan?
A wedding loan is a personal loan you can use to help pay for your wedding. You receive the money as a lump sum upfront, giving you the flexibility to cover different expenses as they arise.
Wedding loans can be secured or unsecured. An unsecured loan doesn’t require you to put up an asset as security, while a secured loan is backed by an eligible asset and may allow you to borrow more or access a lower interest rate.
Depending on the lender and your eligibility, you could borrow up to $75,000 with an unsecured personal loan or $100,000 with a secured loan, with repayment terms generally ranging from one to seven years.
What can I spend my wedding loan on?
You can use a wedding loan for most costs associated with your big day, whether you need help funding the whole celebration or just a few of the larger expenses.
This could include your venue and catering, wedding outfits and rings, photography and videography, flowers and styling, entertainment, transport and other wedding services.
Because the money is paid to you as one lump sum, you only need to borrow one amount rather than taking out separate finance for different expenses. You can then decide how to divide the money across your wedding costs as needed.
A wedding loan also doesn’t usually have to be spent exclusively on the wedding itself. Depending on the lender’s terms, you may be able to use part of the funds for other eligible personal expenses, such as travel or honeymoon costs.
How much does a wedding cost in Australia?
Wedding costs are continuing to rise, with the national average increasing by 8% in 2026 compared to the previous year, according to Easy Weddings’ 2026 Australian Wedding Industry Report. The average Australian wedding now costs $38,252.
However, it’s not one single upfront cost. While the venue and catering may take up a large part of your budget, a wedding involves dozens of expenses, with individual costs ranging from a few hundred dollars to several thousand, all of which can quickly add up.
These are some of the biggest expenses:
How much can I borrow for a wedding loan?
The average amount requested for wedding expenses through Savvy in 2025–26 was $33,871.
Wedding loan cost scenario
Let’s look at how a wedding loan might work in practice.
Nadia and Felix are getting married next spring. Their wedding budget started at $15,000, but additional expenses have pushed the total cost $10,000 higher. Rather than draining their savings, using multiple credit cards or juggling different payment plans, they decide to take out a $10,000 unsecured personal loan to cover the shortfall.
Here’s how the loan could work over three years at an interest rate of 5.85% p.a.:
- Monthly repayment: $304
- Total interest paid: $927
- Total amount repaid: $10,927
Example only. Figures are rounded and don’t include fees or other costs associated with the loan.
This gives the couple the extra $10,000 they need while leaving some of their savings intact and giving them one regular loan repayment to manage.
How can I avoid spending more than I can afford?
Wedding expenses can easily end up higher than expected. According to Easy Weddings, couples spent an average of 23% more than their original budget, while 24% reported that sticking to a budget was the biggest source of stress during wedding planning.
Having a clear spending limit before you start booking suppliers can help you avoid taking on more debt than you can comfortably repay.
A few simple steps can help you keep your wedding spending under control:
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Set a realistic budget
List your expected wedding expenses, decide what matters most and set spending limits for each area. It can also help to leave some room for unexpected costs rather than budgeting right up to your maximum.
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Borrow only what you need
Work out how much you can cover with savings or other funds first, then use a loan to cover any remaining shortfall. Being approved for a larger amount doesn’t mean you have to use it.
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Factor the loan into your budget
Look at the repayments as well as the interest rate, fees and loan term before borrowing. Make sure the repayments will remain manageable alongside your regular expenses after the wedding is over.
Pros and cons of wedding loans
Pros
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Immediate access to funds
A wedding loan gives you a lump sum upfront, so you can pay deposits, suppliers and other expenses as they come due.
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Can be cheaper than using a credit card
Personal loan rates are often lower than credit card rates, which can reduce the cost of financing larger wedding expenses.
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Avoid draining your savings
Borrowing can help you keep some savings aside rather than using everything on the wedding.
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Spread the cost over time
Instead of covering a large number of expenses in the months leading up to the wedding, you can repay the loan in regular instalments over a set term.
Cons
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You start married life with debt
The repayments continue after the wedding is over and can affect other financial goals.
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It increases the total cost of your wedding
Interest and fees mean you’ll repay more than the amount you originally borrowed.
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It can make overspending easier
Having a lump sum available may tempt you to increase your budget or spend more on extras than planned.
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Repayments can put pressure on your budget
A new loan adds another regular expense, which may become harder to manage if your circumstances change.
How to apply for a wedding loan online
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Apply online
Fill out our quick online form with information about yourself and the loan you're after.
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Provide your documents
Submit the required documents through our secure online portal.
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Speak to a Savvy broker
A member of our team will reach out to talk you through your personal loan options.
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Submit your application
Your broker will prepare your application and submit it to your lender.
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Settle your loan
Once approved, we’ll handle loan settlement and you’ll receive the funds to cover your wedding costs!
Why apply for a personal loan with Savvy?
Wedding loan eligibility and documentation
Eligibility
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Age
You must be at least 18 years of age
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Residency
You must be an Australian citizen or permanent resident (or, in some cases, an eligible visa holder)
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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)
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Employment
You must be employed on a permanent, casual or self-employed basis
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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
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Contact
You must have an active phone number, email address and online bank account in your name
Documents
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Personal information
Your full name, date of birth, address and contact details
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Photo ID
Such as a driver's licence or passport
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Payslips
Your last two consecutive payslips (or your last tax return if you're self-employed)
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Assets and liabilities
Information about any assets you own (such as a car or house) and liabilities in your name (such as other loans)
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Bank statements
90 days of bank statements may be requested, but not always
