Wedding Loans

Once approved and the loan contract is signed, wedding loan funds are directly deposited into your nominated account. You can allocate funds towards wedding expenses, such as deposits, vendors, and venues. 

Initial repayment begins 30 days after signing the contract, covering principal, interest, and fees as set out in your loan contract. 

The repayment period depends on the chosen loan term, and successful repayments ensure full repayment within that time frame. Monthly repayments vary based on the borrowed amount, rate, and selected loan term, with the option to estimate using our personal loan repayment calculator.

To qualify for a Plenti personal loan, you must meet the following criteria:

• Age: 18 years or older
• Citizenship: Australian citizen or permanent resident
• Income: earn over $25,000 annually from a verifiable, regular income source
• Credit history: maintain a good credit history

If you're self-employed and uncertain about your eligibility, don't fret. You can apply as long as you have been in your current role for at least 12 months.

The wedding loan application process is quick, easy, and entirely online. Once you have confirmed you are eligible for a wedding loan, you can get a rate estimate from Plenti. If you are happy with the estimated rate, continue the application by simply clicking through to the next step.*

You will be asked to verify your identity and income as part of the application process, so it would be helpful to have your identity documents and bank statements ready.

Working out your wedding budget is essential to planning your big day. Here are some quick tips:

1. Discuss with Family: Sit down with your partner and any contributing family members to align expectations and contributions.
2. Assess Finances: Evaluate your current financial situation, including savings, expected income, and family contributions.
3. List Priorities: Identify and rank your priorities—from venue and flowers to outfits and catering—then allocate your budget accordingly.
4. Research Costs: Understand the average wedding costs in your area.

Planning a wedding is never easy, and unexpected expenses can often throw your budget off balance. Here are some costs to be aware of:

• Outfit Alterations: Account for potential alteration costs if your wedding dress or suit needs adjustments. These can vary depending on the complexity and the tailor's skill.
• Invitations and Thank-You Cards: Don't underestimate the cost of stationery and postage for invitations, save-the-dates, and thank-you cards, especially for large weddings.
• Beauty Expenses: Factor in last-minute beauty treatments like facials, haircuts, or emergency dermatological appointments.
• Weather Contingencies: Prepare for bad weather by budgeting for rentals like tents or indoor alternatives if you're planning an outdoor wedding.
• Transportation: Consider the cost of transporting the bridal party and guests if your ceremony and reception venues are distant from each other.
• Decoration Extras: Budget for unforeseen decor items like extension cords, hooks, or additional lighting to ensure your venue looks perfect.

Engagement Ring Costs

Engagement rings come in various shapes and sizes, and their prices can range from a few hundred dollars to tens of thousands. Factors such as the type of stone, setting, and brand can significantly influence the cost. It's essential to choose a ring that reflects the uniqueness of your love while also fitting within your financial means.

The Real Story Behind the '3 Months Salary' Rule

The idea that you should spend three months' salary on an engagement ring isn't a one-size-fits-all rule. Your love and commitment are what truly matter, not the cost of the ring. It's perfectly okay to choose a more budget-friendly option that aligns with your financial goals.

Financing Your Ring

If you're ready for this significant life commitment but need financial assistance, engagement ring financing can help you get that sparkling rock on your partner's finger sooner. Flexible financing options make it easier to balance your budget while still selecting a beautiful ring.

By understanding these factors, you can make an informed decision that suits both your heart and your wallet.

You can use a wedding loan for:

• Wedding rings
• Engagement rings
• Celebrant
• Catering and open bars
• Photographer and videographer
• Wedding flowers
• Wedding dresses
• Wedding cars and other transport
• Destination weddings
• Bands, DJs and other wedding entertainment
• Honeymoons

The average Australian wedding costs about $36,000. Whether you're working with a small budget or a big one, it’s worth getting a handle on potential costs sooner rather than later, so you can figure out where to spend and where to save.