CreditMaster January 30, 2023
Embarking on a new journey with your significant other is definitely an occasion to celebrate. It’s probably going to be one of the most important days of your life. Hence, it is unsurprising that you would wish for everything to go smoothly.
That said, weddings in Singapore can be extremely costly. Not everyone can cover wedding costs with help from family members or savings. Credit cards have high-interest rates and increase the risk of overspending. To help you cope with the increasing wedding costs, we have specially tailored wedding loans just for you.
Wedding loans offer an alternative solution to financing your nuptials. At Credit Master, we ensure that our wedding loans are kept affordable with comfortable repayment plans.
A wedding loan enables you to enjoy the benefits of an unsecured personal loan that typically carries lower rates when compared to credit cards. With a fixed monthly payment schedule, it becomes much easier to make a budget after the wedding.
In order to qualify for a wedding loan with Credit Master, you will have to be:
If you are engaged and excited about your upcoming nuptials but are worried about wedding expenses, you might be considering various financing options. A wedding loan enables you to use funds to cover your wedding costs.
A wedding loan is a viable option when you can afford to pay off the debt within a reasonable period. No one wants to begin a new marriage while stuck in debt for several years to come.
Wedding loans are personal loans that are used to pay for the event.
In Singapore, the cost of a western wedding can range from $50,000 to $100,000. Several wedding expenses are usually considered for this type of wedding event, including the following:
Chinese weddings are well-known for being elaborate affairs where everything possible is done to make them a success. They have been like that since time immemorial, and the wedding ceremony comes after other highly structured procedures and customs where while family and the community honour their traditions.
A Chinese wedding usually costs $20,000. However, you can pay more according to the level of opulence and elegance that Chinese ceremonies feature.
In Singapore, a Chinese wedding focuses on tradition, and various expenses are necessary for making sure that you comply with the requirements. These include:
A Chinese wedding requires you to adhere to ancient customs and traditions that will cost you a substantial amount of money but receiving the family’s blessing is worth it when you begin your life as a married couple.
It is essential to be aware of how significant a wedding is when you are preparing for a Malay wedding. Although every community considers weddings to be meaningful events, a Malay wedding has deep entrenchment in the customs and traditions of the Malay community. This sacred ceremony needs celebration with all the pomp and pageantry it deserves.
Malay weddings are not just for the family but are intricate ceremonies that involve the entire community during celebrations.
Weddings generally require a lot of effort, but a Malay wedding takes the occasion to another level. These elaborate events involve everyone rather than emphasizing on the nuptials. The aim is to pass the couple through a cultural and spiritual journey. Stages include Merisik where a particular relative spies on the prospective bride, the wedding ceremony and homecoming.
Considering all that goes into planning this type of wedding, there is no doubt that it is going to be a costly affair. Fortunately, there are financing options, such as wedding loans that can help you fund your dream wedding.
Some of the costs involved in the preparation and purchases for a Malay wedding include:
An Indian wedding has its own set of traditions. This ceremony gives families the chance to celebrate together. The average cost of this type of event in Singapore ranges from $30,000 to $50,000. Requirements include:
If you have a particular vision of the type of wedding you want, you may be hesitant to compromise on some costs. However, you should only stick to traditions that are significant and meaningful to avoid spending unnecessarily.
If you are unsure about taking out a loan to pay for their wedding, consider scaling back slightly to reduce costs. It is achievable in different ways, including lowering the headcount or number of guests.
People are a significant determinant when it comes to wedding expenses due to the cost of beverages, food, and locations. Although you may be envisioning a huge wedding, you will probably not be able to connect with every individual when you have hundreds of guests. Reducing the number of guests is one of the ways to cut costs and spend more quality time with your loved ones.
If you want to apply for a credit card or already have one, the credit limit will determine the number of wedding expenses that can be covered. But if you require a smaller amount, you can consider using a credit card that offers benefits such as cash backs.
Other ways to save money include saving money for the wedding, being creative with décor and requesting for discounts.
A wedding loan can be an invaluable solution to paying for all or some wedding expenses. However, you should always compare your options and identify the right one for you. Also, keep in mind that you have the option of cutting costs and creating a smaller budget for the wedding.
Apply for a low interest wedding loan with Credit Master today. Alternatively, you may also chat with us to find out more about what our wedding loan entails.
At CreditMaster, we believe in building long-term relationships with our clients. Our team of experienced professionals is always ready to provide personalised financial advice and assistance to ensure that our clients make informed decisions. We understand that each client's situation is unique, and we strive to tailor our services to meet their specific needs.
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