Everyone always dreamt of the perfect wedding. With the dazzling venue, gorgeous gown, fancy decorations, and being surrounded by a loved one, everything becomes magical. But a grand wedding is a dream in Singapore due to its affordability along with a variety of wedding expenses to incur.
Singapore is known as one of the highly-rated wedding destinations, of course, there are reasons behind it. This incredible country has several lavishing venues for all wedding types. Besides, many venues are there that provide the best services and products to make your D-day truly unforgettable, but those wedding expenses can run sky-high. Therefore, a Wedding loan in Singapore can help to defray out-of-pocket payments of an individual.
Here’s a guide to turning our vision for the big day into reality through Singapore’s wedding loan.
How do wedding loans in Singapore work?
What sets Singapore’s wedding loan apart is that they unlock a ready line of credit without the need for collateral backing. To successfully apply for such a loan, banks and financial institutions require candidates to be employed, be of a certain age and earn a minimum income. Typically, these are short-term loans, and to pay them back in installments over the set time.
Documents required for application usually include a copy of Individual NRIC, IRAS Notice of Assessment, CPF statement, last few months’ payslips, and documents reflecting your billing address.
Applications can be done online for most banks; some also allow them to apply through their mobile apps. For financial institutions, individuals can apply online or visit one of their outlets.
Wedding costs that loans can cover?
Wedding loans can range from small amounts to up to 10 times an individual monthly salary, so they should be more than sufficient to cover their wedding costs.