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A personal loan for a wedding
Looking for a wedding loan to help finance your big day? Look no further than an ANZ Personal Loan. We explain how to calculate and apply for a personal loan with us, what common expenses you can expect and where you can make some savings.
Our approval fee got voted off the island. Save $150 on an ANZ Personal Loan
Apply for an ANZ Personal Loan and if approved we’ll waive our $150 loan approval fee.disclaimer
Excludes joint applications. Eligibility, ANZ’s credit assessment criteria, T&Cs, fees and charges apply.disclaimer
Borrow up to $50,000
Borrow a specific amount between $5,000 and $50,000 (subject to approval).
Greater flexibility
Choose a loan term from 1 to 7 years, with weekly, fortnightly, or monthly repayment options.
Personalised rates
Get a personalised interest rate with an ANZ Fixed Rate Loan or an ANZ Variable Rate Loan based on your credit history.
No assets needed
ANZ Personal Loans are unsecured, which means you don’t have to provide an asset, such as your car, as security.
Same-day cash
Get same-day cash when you apply and are approved in-branch by midday, Monday to Friday.disclaimer Deposited into your existing ANZ everyday account.
No fees plus redraw
No penalties for making extra repayments or paying off your loan early with an ANZ Variable Rate Loan. Plus, redraw available if you’re ahead on payments.
Repayment certainty
Know what your repayments will be and protect yourself from interest rate movements for the life of the loan with an ANZ Fixed Rate Loan.
Online convenience
Track your balance and make repayments 24/7 with ANZ Internet Banking or via the ANZ App.disclaimer
Estimate your personalised interest rate
We tailor our interest rates based on our assessment of your credit score. With a better credit score, you could enjoy one of our lower interest rates.disclaimer This tool will also help you estimate your repayments if you finance your wedding using an ANZ Personal Loan.
Calculate how much you could borrow
Get an indication of how much you may be able to borrow based on your income and expenses. Please note this is an estimate only and your full borrowing amount will only be made available in your Letter of Offer.
Choose a personal loan that works for you
If you want your loan repayments to stay the same – even if interest rates change – then an ANZ Fixed Rate Loan could be for you.
If you're looking for flexibility – such as paying off your loan sooner with no exit fees – then an ANZ Variable Rate Loan could be for you.
Check your eligibility
To be eligible for an ANZ Personal Loan you must:
- be at least 18 years old;
- earn a minimum of $15,000 per annum; and
- be an Australian citizen, permanent resident, or have a valid visa.
Read up on the eligibility criteria and documentation we’ll need for each type of loan.
Keep within a budget
Always keep in mind whether you've allocated enough money for all the different costs and services involved.
Start a spreadsheet or use a budget planner to itemise all the expenses you can reasonably expect.
It's also a good idea to do this together so that you're both on the same financial page when it comes to the allocation of money.
Apply for a personal loan
Here's what you need to apply:
- details of your income, expenses, assets and liabilities
- your driver's licence, ANZ Account Number or Customer Registration Number (if you have them)
If you're new to ANZ, you’ll need any two of your Australian driver's licence, Medicare card, Australian passport, or Australian visa.
Well, it all depends. If you want your guests to drink French champagne and eat pate foie gras, then things will escalate quickly. Conversely, getting hitched in your parents’ backyard and asking everyone to bring a dish, pot-luck style, will be much more affordable.
While figures vary, according to the Government website Moneysmart,disclaimer the average Australian wedding costs $36,000.
But remember, it’s your day. You don’t have to follow the crowd. Make a date night with your partner to chat about what really matters – and cut out the things that don’t.
Below is a list of common expenses you can expect if you’re planning a more traditional wedding:
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Draw on your savings or apply for a personal loan?
According to the Moneysmartdisclaimer survey, 82% of couples dipped into their savings to pay for their wedding, while 60% also took out a personal loan and 18% used their credit card.
For those looking to save, you can always set a savings goal in the ANZ App or ANZ Plus App. Set the dollar amount you want to save and track your progress right up to the big day.
Always lead with the budget
Do your research on how much things cost. This will determine the type of wedding you can afford. Go into every conversation, venue viewing and online search with your budget front of mind. Be open about how much you’ve got to spend so that suppliers can tailor things to fit your budget. Don’t be afraid to negotiate.
Don’t look outside your budget
Preventing yourself from looking at things outside your budget isn't easy given that prices aren't always listed, but it's important to do so to avoid disappointment. In other words, if you've only got $3,000 to spend on a wedding dress – try to resist trying on the $10,000 dress.
Keep it real
This is your wedding. Not your friends' or your parents' wedding. You shouldn't be blowing your budget to please others, or to "keep up with the Joneses". So be clear about what's important to you both and make sacrifices where you can.
Tips on where to save some money
The Date
Peak times for weddings in Australia are generally between March and May, and again between September and November, making these the more expensive months. There’s nothing wrong with a winter wedding, so long as it’s inside. Day events are generally more affordable than evening, with midweek often more affordable again.
Venue, food and beverages
This will be your biggest cost, so do your homework here. Consider holding your wedding ceremony and reception at the same venue to save money. Meanwhile, that winery you love may set you back $200 a head and only accept bookings of 100 guests or more. So be creative. Think gastro pubs. Your favourite restaurant. A marquee in your parents’ backyard. Also, ask about feasting platters or grazing tables instead of a sit-down meal to reduce your bill.
The Videographer
Think of all the generations before you who had their wedding lovingly filmed on Beta, VHS and Compact Disc, now in storage somewhere, never to be seen again. Try to find a photographer who doubles as a videographer. Or ask your friends to whip out their phones.
Wedding invitations
We’re living in a digital world, so why not save yourself some money (and a lot of time and effort) by sending out digital invitations? Plus, any absent-minded guests can look up the invite on their phones.
Transport
Do you really need to make a grand entrance in a fancy car? If the answer is yes, find out which guests own a classic or late-model European car. Car enthusiasts like nothing more than to show off their pride and joy, and you’ll get a car service for free. It’s a win-win.
Entertainment
Do you really need a band or DJ? Bands can be expensive while DJs are notorious for playing the songs they want to hear. One of your guests will be a music lover. Give them a brief and ask them to create a six-hour playlist. But make sure they put the song for the wedding dance in a separate folder. Otherwise, you might end up doing the two-step to Hells Bells.
The Wishing Well
A gift registry is a good idea if you need stuff, but not everyone will play by the rules. Expect to receive three kettle and toaster sets. Instead, ask your guests to make a monetary contribution to your Wishing Well. The money you receive can then be used to make a sizeable dent in your wedding loan. If you like this idea, make sure you look at personal loans that allow you to make extra repayments without penalising you.
Bonbonnieres
Bonbonnieres are often a complete waste of time and money. They’ll end up in the bin as soon as your guests arrive home, or worse, in the bin outside the wedding venue. Bonbonnieres might’ve been big in your parents' day, but so too was cask wine.
ANZ Fixed Rate Loan
I need stability
Features
Certainty your repayments won’t change even if rates increase as you’ve locked in a fixed interest rate
Things to consider
- Early repayment charges may apply if you make early or extra repayments, repay your loan early or increase your loan amountdisclaimer
- No access to extra money paid (redraw)
Early repayment charges
You may incur an Early Repayment Cost, which may be significant, if you make early or additional payments. See Early Repayment Costs (PDF) and Consumer Lending Terms and Conditions booklet (PDF).
Apply for an ANZ Personal Loan and if approved we'll waive our $150 loan approval fee.disclaimer
Excludes joint applications. Eligibility, ANZ’s credit assessment criteria, T&Cs, fees and charges apply.disclaimer
ANZ Fixed Rate LoanInterest rate range from to disclaimer (Comparison rate range to )disclaimer |
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ANZ Variable Rate Loan
I prefer flexibility
Features
Ability to make early or extra repayments, or repay your loan early, without additional costs
Flexibility to increase your loan amount (subject to credit assessment)
Access to extra money paid (redraw)disclaimer
Things to consider
- Your repayments may change as your interest rate may increase or decrease during the term
Early repayment charges
Not applicable.
Apply for an ANZ Personal Loan and if approved we'll waive our $150 loan approval fee.disclaimer
Excludes joint applications. Eligibility, ANZ’s credit assessment criteria, T&Cs, fees and charges apply.disclaimer
ANZ Variable Rate LoanInterest rate range from to disclaimer (Comparison rate range to )disclaimer |
General
ANZ Fixed Rate Personal Loan
Loan Approval Fee |
$150 |
Loan Administration Charge |
$10 per month, debited every three months until the loan is closed in ANZ systems. |
Early repayment charges |
Early Repayment Costs may apply if you make early or additional repayments, see Early Repayment Charges (PDF) and ANZ Consumer Lending Terms and Conditions booklet (PDF) for further information. |
Late Repayment Fee |
$20 will be charged if your repayment is five days late or more. A further $20 will be charged monthly until repayments are up to date |
ANZ Variable Rate Personal Loan
Applying for a personal loan
Any information provided is general in nature and does not take into account your personal needs, financial circumstances or objectives and you should consider whether it is appropriate for you. ANZ recommends you read the applicable Terms and Conditions booklets and the ANZ Financial Services Guide before deciding whether to acquire, or continue to hold, a particular product.
All applications for credit are subject to ANZ’s credit assessment criteria. Terms and conditions are available on application. Fees and charges apply. Australian credit licence number 234527.
Fee waiver offer is available to customers who apply for a new or increase their existing ANZ Personal Loan between February 14 2024 and May 14 2024. This offer may be withdrawn or changed at any time without notice. The loan must be approved, and the funds drawn down within 90 days of approval to be eligible for the fee waiver offer. Excludes joint applications. Applications for credit are subject to ANZ’s credit assessment criteria.
ReturnApplications must be submitted at an ANZ branch, and approved before noon Monday to Friday (AEST), and customers must have approved funds deposited into an existing ANZ everyday account. For a full list of eligible ANZ everyday accounts, please contact us on 1800 801 485 between 8am to 6pm (AEST) weekdays.
ReturnThe ANZ App is provided by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Super, Shares and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. This information is general in nature only and does not take into account your personal objectives, financial situation or needs. ANZ recommends that you read the ANZ App Terms and Conditions available here for iOS (PDF) and here for Android (PDF) and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.
ANZ App for Android is only available on Google Play™. ANZ App for iPhone is only available from the App Store.
ReturnWe tailor your interest rate based on our assessment of your credit score. Where you have demonstrated good credit based behaviour, such as not opening too many credit products or making repayments on time for your other credit products, this will be reflected in your credit score and you may be offered a rate in the lower end of our range. Where your credit history isn’t as long, or as good, or you have made many applications in a short period of time, this may negatively impact your credit score and you may be offered a rate at the higher end of the range.
ReturnBased on the Moneysmart website as at 28th February 2023.
ReturnFixed rate personal loans aren’t for everyone and early repayment fees and charges, which may be significant, may apply if you make early or additional repayments or repay your loan early. Refer to Early Repayment Charges (PDF) and ANZ Consumer Lending Terms and Conditions booklet (PDF).
ReturnInterest rates as at and are subject to change. These interest rates may be withdrawn or changed at any time without notice and may not be available in conjunction with any other offers, packages, or promotions.
ReturnThese comparison rates are based on a $30,000 Personal Loan for a five year term. The rates are applicable for unsecured loans only.
WARNING: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rates.
Terms and Conditions and eligibility criteria apply to ANZ Redraw. For further information on ANZ Redraw please refer to the ANZ Consumer Lending Terms and Conditions (PDF).
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