In Singapore, getting married often goes beyond simply obtaining a $42 marriage certificate at the Registry of Marriage. Wedding ceremonies are now considered almost mandatory for any couple in Singapore looking to get married. Just like anything else in Singapore, hosting you and your partner’s dream wedding will no doubt be a costly affair, yet, it doesn’t seem right to scrimp and save on such a sentimental and meaningful milestone in your lives.
Thankfully, wedding loans are available for couples who want to make the wedding of their dreams come true and start off their married lives on a memorable note. Before we elaborate on that, let’s look into the average cost breakdown for a typical wedding in Singapore.
1. Wedding banquets
Every couple and their families will definitely want to impress the wedding guests, and there is no better way to do this than through their stomachs. However, the banquet can easily become the most expensive part of your wedding, costing $15,000 to $35,000 on average. For fancier banquets with a wider spread of dishes, you could be looking at costs that go as high as $50,000.
2. Wedding rings
Due to their enduring nature and strength, diamonds are the perfect symbol of everlasting love between a married couple. This makes diamond rings the classic choice for wedding bands, despite being the most expensive rings on the market. A pair of wedding rings can cost $3,000 to $7,000 on average. If you opt for more elaborate and luxurious diamond rings, the cost can even go up to $10,000.
3. Bridal package and wedding suits
Bridal studios are often the one-stop solution for most of your wedding needs, offering bridal packages which include wedding gown and suit rental, pre-wedding shoots, makeup, and hairstyling. Of course, the convenience of these bridal packages come at a price – on average, it can cost from $2,000 to $6,000, depending on what is included in your selected package.
Precious moments are fleeting, and that’s why it is important to capture the happy memories of your big day through professionally-taken photographs. Hiring a photographer can cost up to $5,000 depending on the package you choose to purchase.
5. Wedding planners
Planning your own wedding can be a time-consuming and tiring process, and in some cases, you may need to hire an expert wedding planner to make sure everything about your wedding is perfect down to the tiniest of details. Hiring a professional wedding planner can cost around $1,000 to $2,000.
With all the costs involved in organising and executing a wedding, couples often have to start saving from as early as 2 years before the wedding. Even then, they may still be short of a couple of thousand dollars.
Wedding Loans in Singapore
However, money shouldn’t be a problem when it comes to your wedding, as many licensed money lenders in Singapore offer wedding loans. Personal loans are also available to help alleviate the financial burden of your wedding, and repayment is done through monthly instalments over a predetermined period of time. To prepare to take out your loan, here are the documents that you’ll need:
- Original NRIC document
- Income tax returns from the last 15 months or if self-employed, income tax returns from the last 2 years
- Latest 3 months of Payslip (as proof of income)
- Employment pass (if you are a foreigner working in Singapore)
Once your application is approved, say goodbye to the financial burden of planning your dream wedding!