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Weddings should be the happiest time of a person’s life. In today’s economy, salaries are stretched further than ever meaning that many people use the option of a personal loan to fund their big day. In the Philippines, wedding loans are a popular way for couples and their families to enjoy the decadence and fun of a five-star ceremony. This is our guide on how to get the most from a wedding loan in the Philippines:

How to work out how much your whole day will cost

This means everything from catering to transport and the hundreds of miniscule details in between. Here are some things to consider:

  • Venue Hire: Usually one of the most expensive parts of the day. Venues in the Philippines can vary in price, with most expensive being around 25000 per day. You can often find somewhere charming and equally beautiful for around 7000 though, so as with any decisions you make about borrowing, be realistic about what you can afford.
  • Outfit: This will really vary from person to person. The less traditional couples out there, may prefer to keep this part of the budget as small as possible but for some, the dress is a huge part of the day. For those in the latter category, you can expect to pay between 25000 and 50000 for a quality wedding gown. Hair and makeup are also a consideration here. If you are the kind of bride who appreciates a little professional cosmetic pampering, you may like to allocate around 10000 for this.
  • Catering: Food in the Philippines is magnificent and even for a modest budget of 50000 you can expect some quality morsels for your guests to enjoy. For 150000 you can expect a full banquet. How much of your wedding loan to allocate to this part of the day will depend on how much you love food. To some, it’s just a functional part of the day, a marker that breaks up the event nicely and provides some welcome sustenance, but to others, it’s part of the main attraction.
  • The reception or party: This part of the day is when you get to relax a little bit. Tell stories about how you met and allow the family and friends you invited to get to know each other. The amount of your loan that will need to be used for this will depend on how many guests you are inviting and the type of event you are planning. This is generally one of the largest expenses, so it can make sense to allocate as much as possible for this part of the day.
  • The Ring: This is something that many people don’t consider as part of the day itself, but using a wedding loan to buy a ring, or at least contribute to some of the cost, can be a great way of making sure you can get something of really good quality. In the Philippines, wedding rings are around 15000 to 45000, so remember to account for this when considering the full amount, you need to borrow.

Choosing a term for your wedding loan

Most loan terms are between 6 and 60 months and the length of time you take to pay back what you have borrowed will increase the amount you end up spending overall. If you and your partner can make large regular payments for a short space of time, a shorter term can be a good option. This can be useful for those who are starting new jobs or expecting financial windfalls in the future. Longer terms loans mean smaller repayments, which can be more realistic for some people’s situations.

Selecting the right wedding loan provider

Consider interest rates, reputation for customer service, credibility amongst the lending industry and the quality of their marketing and communication. All these factors contribute to the overall first impression a loan provider will create. If your options are limited, use interest rates and factors such as penalty fees to determine where to get your wedding loan. Though you may need to choose from between just a few options, there will usually be some significant differences if you look at the small print in the terms and conditions.

Wedding Loan or Credit Cards?

Personal loans are not the only option for financing a wedding day and some people prefer to use credit cards to do this. Your circumstances and the cost of the overall day will define which is the best choice for you but there are advantages and disadvantages to both options. Credit cards can have benefits such as 0% interest rates or added cash back perks, which can really help to cut the overall cost in the long term. On the other hand, it can be inconvenient and people with even a fair to good credit score can sometimes struggle to find limits high enough to meet their needs. Loans generally offer the borrower more but can cost a little more. Depending on the number of guests you have and other factors such as the cost of the dress, you could even consider using both options to help you cover every aspect of the day.


A wedding day should be a magical occasion that you remember forever, and personal loans can be a way of helping your dream ceremony meet up to all your expectations. Budgeting and careful planning is the best way to make sure you allocate enough for each aspect of the day. You should also be wary of interest rates, terms and conditions as well as the reputation of the loan provider you are borrowing from. Though it is important to have a perfect day, it is also essential to consider your limits when it comes to repayments. Having an incredible wedding day, followed by a lifetime of unaffordable repayments is something nobody would advise, so always ensure you are realistic and balance your expectations with your current financial situation.

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