Wedding finance repayments.
About this calculator
Enter the amount, interest rate and term to see the regular repayment, the total interest, and the full cost of financing a wedding. A "wedding loan" is not a special product — it is an ordinary unsecured personal loan marketed by purpose, so it is priced like any other personal loan.
- NZ personal loan rates typically run from about 9% to 22% p.a. depending on lender and credit profile.
- Typical NZ wedding spend is around $30,000–$50,000, though it varies enormously by guest count and venue.
- Shorter terms mean higher repayments but far less total interest.
- Because the loan is unsecured, the rate is usually higher than a mortgage or car loan.
Formula: M = P × r(1+r)ⁿ ÷ [(1+r)ⁿ − 1] (r = monthly rate, n = months)
Putting the wedding on a loan means starting married life in debt. Even 6–12 months of saving the same monthly amount first can shrink or remove the loan entirely — and you keep the interest.
What a wedding loan really costs
The headline you should look at is the total interest, not just the monthly repayment. A low monthly payment usually means a long term, which quietly adds thousands in interest. Borrowing $25,000 at 15% over five years costs roughly $10,700 in interest on top of the $25,000 — so the wedding effectively costs nearly $36,000.
Always compare lenders on the total cost over the full term (the CCCFA requires lenders to disclose this), not the advertised rate alone. Establishment fees and credit insurance can add meaningfully to the real cost.
Alternatives worth comparing
- Save first: redirect the would-be repayment into savings for 6–12 months and scale the wedding to what you have.
- Scale the event: guest count is the single biggest cost driver — trimming the list cuts catering, venue and drinks together.
- Use a low-rate option: a credit union or your bank's personal loan often beats finance-company "wedding loan" branding.
- Avoid buy-now-pay-later stacking across vendors — it is easy to lose track of the total.
Frequently asked questions
What interest rate do wedding loans charge in NZ?
A wedding loan is an unsecured personal loan, so rates typically range from about 9% to 22% p.a. depending on the lender and your credit profile.
How much do people borrow for a wedding?
NZ weddings commonly cost $30,000–$50,000, but the amount borrowed varies widely. Many couples finance only part of the cost and pay the rest from savings.
Is a wedding loan a good idea?
It converts a one-day celebration into multi-year debt. Compare the total interest against saving for a few more months or scaling the event before committing.
Calculator NZ provides general information only. For decisions with significant financial, medical or legal consequence please consult a qualified professional.