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While cake tastings and visiting venues may be the most enjoyable parts of planning a wedding, figuring out how to finance the big day might be the trickiest. After all, the average wedding cost is $33,000 in 2025, according to the Knot, a wedding planning website.
If you’re not using savings or receiving a financial gift from a relative, a personal loan could be a convenient way to pay for your wedding. (You may see some lenders refer to these types of personal loans as wedding loans.) Personal loans usually offer quick funding and fixed, predictable monthly payments, making them an attractive option for couples planning their wedding.
Let's explore how using a personal loan to pay for a wedding works, including pros and cons and when it makes sense.
Many lenders (including Citi) let you apply for a personal loan through an online application process. Before filling out the application, it’s a good idea to research different lenders, their rates and their policies to find the right fit. It’s also important to keep an eye out for the potential fees you may face when taking out a personal loan. For example, you may see origination, late and insufficient funds fees. It’s possible to find a personal loan with few to no fees.
Once you’ve found the lender you want to work with, here’s how the process usually works:
Once you’ve applied, wait for a response from the lender. If you’re approved and accept the loan terms, the lender will deposit your funds.
Personal loan applicants will need to meet the lender's eligibility criteria to be approved. The exact requirements will differ based on the lender's policies, but most lenders will consider these factors:
There can be many benefits to using a personal loan to finance wedding costs, from quick, flexible funding to the convenient application process.
Most lenders offer quick approval and access to personal loan funds. If you apply and are approved for a Citi® Personal Loan, for example, you can receive the funds via direct deposit the same day if you have a Citi account, and within 2 business days if you have a non-Citi account.1
Many lenders have a short, easy online application process for personal loans. This can be especially appealing if you’re planning a complex event like a wedding, which requires balancing different tasks, deadlines and priorities.
Personal loans can be used to pay for almost anything. Individual lenders may place limitations on what you can use funds for, but these are generally very flexible. For example, you can typically use a personal loan for costs such as:
Receiving a lump sum can also be particularly useful when planning a wedding, since you may need to pay several vendors around the same time.
There are a few things to be aware of before applying for a personal loan, such as interest and creditworthiness criteria.
Unlike credit cards, which generally won’t charge you interest if you pay the full statement balance by the payment due date, personal loans immediately start accruing interest. Your rate will depend on your lender and credit score, and a better credit score can give you access to lower rates.
Let's say you take out a $15,000 personal loan with a 9% annual percentage rate (APR) and a 5-year term. You would end up paying about $311 per month, and you’d pay roughly $3,683 in interest over the life of the loan.
Eligibility and credit requirements can make personal loans tough to secure for some borrowers. You may need to improve your credit to be eligible for a loan, or for an APR that works with your budget.
A personal loan can be useful for responsible individuals looking to boost their creditworthiness. For example, if you’ve saved enough to cover vendor deposits but will need a lump sum to pay for everything in full as the wedding approaches, a personal loan may be the way to go. It can also be helpful if you’re anticipating a financial gift in a month or two and just need money to secure vendors in the interim.
Citi offers flexible, fee-free personal loans to qualified applicants. If you think you could benefit from a Citi Personal Loan, apply online today.
If you decide that you don’t want to use a personal loan to pay for wedding expenses, there are several alternatives you might consider, such as using savings, accepting funding from family members, using a credit card and planning a wedding on a smaller budget:
Often, it’s ideal to use savings for wedding expenses if you have those funds available.
If you don't yet have enough saved and your timeline is flexible, you may consider postponing your wedding to save up. That way, you can avoid taking on debt or minimize the amount you need to borrow to bring your wedding dreams to life.
If you’re just starting to plan your wedding and haven’t broached the subject of paying for things with parents or grandparents yet, it may be worth asking. They might even have plans to pitch in. While you can’t dictate how much people will give, if this option is available to you, it can help offset the cost of the wedding.
In some cases, it may make sense to put your wedding expenses on a credit card. For example, if you’re planning a wedding that you’ll be able to pay for in full by your payment due date, before the balance incurs interest, a credit card may be a useful tool. Rewards credit cards, for example, may offer a way to help offset the cost of your honeymoon through points or miles. You might also consider a card that comes with a low introductory APR. If you can fully pay off the balance before the introductory APR ends, you can avoid paying interest.
It’s possible to achieve a beautiful, memorable — and, critically, cost-effective — wedding through DIY projects and savvy planning. From using your own backyard as a venue to thrifting or making your own decorations, you can find creative ways to organize an unforgettable wedding for less.
Weddings are important milestones. It’s worth carefully considering your funding options to find the one that best aligns with your needs.
It depends on your lender. In general, however, the higher your credit score, the better your odds of securing a personal loan.
Yes, personal loans can generally be used to pay for a wedding, including booking venues and paying for catering. Funds can also be used for related costs, such as purchasing a wedding dress and rings, paying for a wedding planner, sending out invitations and booking a photographer.
It depends on the lender. For example, Citi offers personal loans up to $30,000.
1 If you are approved for a personal loan with Citi, you can get your funds the same day with a Citi deposit account, or up to 2 business days for a non-Citi account when using direct deposit. Or, you can select to receive a check by mail in approximately 5 business days.
This article is for educational purposes. It is not intended to provide legal, investment, or financial advice and is not a substitute for professional advice. It does not indicate the availability of any Citi product or service. For advice about your specific circumstances, you should consult a qualified professional.
