Important disclosure

Holiday Loans & Travel Loans

It’s relatively common for Aussies to book a holiday less than a year ahead of time. This gives us a fairly limited chance to save up for all the costs of hotels, flights and a little cash to splash while you travel.

If you’re thinking about upfront holiday finance, you may be wondering whether an unsecured personal loan could help you access some money now and repay it later.

Compare holiday loans

Loan Amount

$10,000

Term

3 months

OurMoneyMarket

Low-Rate Personal Loan - Excellent Credit - Zero Fee

EST Monthly Repayment
EST Monthly Repayment
6.57%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
Plenti

Unsecured Personal Loan - Exceptional Credit

EST Monthly Repayment
EST Monthly Repayment
6.57%
Advert. Rate (p.a)
Comparison rate
Borrow from $5,000 to $50,000 with a low interest personal loan. Choose a loan term between 3 - 7 years with $0 monthly fees. Get a rate estimate in as little as 60 seconds with no impact on your credit score.
Now Finance

NOW Finance Unsecured No Fee Personal Loan

EST Monthly Repayment
EST Monthly Repayment
6.75%
Advert. Rate (p.a)
Comparison rate
Pay ZERO fees on all loans with NOW Finance. That's right - no establishment fee, no monthly fees, no early payout fee on all loans between $8,000-$50,000. What's more, get your guaranteed, tailored interest rate in two minutes without impacting your credit score. Comparison rate can vary from 6.75% to 26.95% p.a.*
Liberty

Unsecured Personal Loan - Excellent Credit

EST Monthly Repayment
EST Monthly Repayment
7.24%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Starting out or starting over? Get fast access to the funds you need.
OurMoneyMarket

Low Rate Personal Loan (Fixed, Secured) - Very Good

EST Monthly Repayment
EST Monthly Repayment
6.49%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
OurMoneyMarket

Low Rate Personal Loan (Fixed, Unsecured) - Good

EST Monthly Repayment
EST Monthly Repayment
7.49%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
Harmoney

Unsecured Personal Loan - Excellent Credit

EST Monthly Repayment
EST Monthly Repayment
5.76%
Advert. Rate (p.a)
Comparison rate
Get what you want, without breaking the bank. Fast, easy & 100% online. Borrow up to $70,000 unsecured. No hidden fees or early repayment penalties. Harmoney's unsecured interest rates range from 5.76% p.a. to 24.03% p.a.
OurMoneyMarket

Low Rate Personal Loan (Fixed, Unsecured) - Average

EST Monthly Repayment
EST Monthly Repayment
8.49%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
Liberty

Secured Personal Loan - Excellent Credit

EST Monthly Repayment
EST Monthly Repayment
6.52%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Offering the certainty of fixed repayments at a rate just for you.
Plenti

Plenti - Personal Loan - Very Good Credit

EST Monthly Repayment
EST Monthly Repayment
12.49%
Advert. Rate (p.a)
Comparison rate
Borrow from $5,000 to $50,000 with a low interest personal loan. Choose a loan term between 3 - 7 years with $0 monthly fees. Get a rate estimate in as little as 60 seconds with no impact on your credit score.
Liberty

Secured Personal Loan - Good Credit

EST Monthly Repayment
EST Monthly Repayment
10.34%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Offering the certainty of fixed repayments at a rate just for you.
Liberty

Unsecured Personal Loan - Good Credit

EST Monthly Repayment
EST Monthly Repayment
11.49%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Starting out or starting over? Get fast access to the funds you need.
Bankwest

Flexible Personal Loan

EST Monthly Repayment
EST Monthly Repayment
10.99%
Advert. Rate (p.a)
Comparison rate
Whatever it is you’re dreaming about, a Bankwest Flexible Personal Loan puts you in control. Pay it off early, make additional repayments and redraw additional repayments you’ve made all at no extra cost!
St.George Bank

Unsecured Personal Loan (Fixed)

EST Monthly Repayment
EST Monthly Repayment
12.99%
Advert. Rate (p.a)
Comparison rate
Whether you're taking control of your finances, planning a special event, or making a large purchase, our Unsecured Personal Loan may be the right solution.
St.George Bank

Unsecured Personal Loan (Variable)

EST Monthly Repayment
EST Monthly Repayment
12.99%
Advert. Rate (p.a)
Comparison rate
Whether you're taking control of your finances, planning a special event, or making a large purchase, our Unsecured Personal Loan may be the right solution.
Westpac

Westpac Unsecured Personal Loan

EST Monthly Repayment
EST Monthly Repayment
11.99%
Advert. Rate (p.a)
Comparison rate
A personal loan can help you to get what you’ve always wanted. Plan ahead with a flexible loan term of between 1 and 7 years. Apply for between $4,000 and $50,000 (conditions apply). Make extra repayments to pay your loan off sooner (prepayment fee may apply). Choose a repayment frequency to suit when you get paid - weekly, fortnightly or monthly.
NAB

NAB Variable Rate Personal Loan

EST Monthly Repayment
EST Monthly Repayment
12.69%
Advert. Rate (p.a)
Comparison rate
1-7 years flexible loan term, borrow from $5,000 up to $55,000 and redraw additional repayments you've already made
NAB

NAB Fixed Rate Personal Loan

EST Monthly Repayment
EST Monthly Repayment
12.69%
Advert. Rate (p.a)
Comparison rate
Borrow from $5,000 up to $55,000 for 1 to 7 years flexible loan terms
Wisr

Platinum Unsecured Personal Loan

EST Monthly Repayment
EST Monthly Repayment
11.40%
Advert. Rate (p.a)
Comparison rate
Wisr provide personalised low rates for applicants with good credit. Borrow between $5,000 and $50,000 with transparent terms and easy online application.
People's Choice Credit Union

Unsecured Personal Loan

EST Monthly Repayment
EST Monthly Repayment
13.99%
Advert. Rate (p.a)
Comparison rate
As a member owned organisation, our first priority is to help you. We continually focus on providing high levels of personalised service and value for money products – such as our Personal Loans– there to help you make those life-changing purchases.
Plenti

Plenti - Personal Loan - Good Credit

EST Monthly Repayment
EST Monthly Repayment
14.49%
Advert. Rate (p.a)
Comparison rate
Borrow from $5,000 to $50,000 with a low interest personal loan. Choose a loan term between 3 - 7 years with $0 monthly fees. Get a rate estimate in as little as 60 seconds with no impact on your credit score.
The Mac

Personal Loan Unsecured

EST Monthly Repayment
EST Monthly Repayment
15.99%
Advert. Rate (p.a)
Comparison rate
Whether you're dreaming of far away destinations or of revolutionising the world with your next big invention, our Unsecured Personal Loans are a flexible and simple solution from an ethical and trusted team.
Arab Bank

Unsecured Personal Loan - Variable

EST Monthly Repayment
EST Monthly Repayment
15.60%
Advert. Rate (p.a)
Comparison rate
You can use your personal loan for things like purchasing a new car, consolidating your debts, renovating your home, paying for university studies or to go on your dream holiday!
ANZ

ANZ Variable Rate Loan

EST Monthly Repayment
EST Monthly Repayment
15.99%
Advert. Rate (p.a)
Comparison rate
Whether you're looking to buy a new car, take a holiday, renovate your home or you want to consolidate debt, ANZ could help you with a Variable Rate Personal Loan.
Regional Australia Bank

Personal Loan

EST Monthly Repayment
EST Monthly Repayment
15.99%
Advert. Rate (p.a)
Comparison rate
All-purpose Personal Loan for quick and easy funds when you need them.

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Minimum and maximum loan periods vary between 6 months and 10 years. Comparison interest rates vary between 6.55% and 20.89% p.a. Total interest repayments vary between $1,387 and $4,165 over the life of the loan. *Comparison rate is based on an unsecured loan of $10,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

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Holiday loans in Australia – Plan the perfect round trip

There’s nothing more exciting than picking out your favourite holiday destination on a map and planning a getaway. Besides remembering to stock up on sunscreen and selfies, you also need to budget for the upfront costs involved.

If your savings are not up to par, this guide takes a look at available options and how to choose the right holiday loan for your situation.

Holiday/travel loans – What are they and how do they work?

In plain-spoken terms, a holiday loan is simply a personal loan you take out to fund holiday and travel costs. Generally, you can use a personal loan to pay for whatever you want. If your main goal is getting some downtime, the funds could cover anything from food and drinks to tours and transportation.

Typically, holiday loans will have the following features:

  • Fixed or Variable rates. A vacation loan can have a fixed rate which maintains an even ‘keel’ throughout the credit duration. It can also have a variable rate which can move up (in which case your repayments might increase), or down (in which case your repayments might decrease).
  • Desired amount. How much you can borrow generally varies between $1,000 and $100,000.
  • Repayment terms. Repaying your debt can take as long as ten years or as little as one year. Before choosing your loan term, bear in mind that while paying off your debt at a laid-back pace might be great for your budget, it adds to your finance costs in the long run.
  • Fees and charges. Paying interest is the norm when you borrow money, but lenders may also add other fees. These may include establishment fees, monthly or ongoing fees, early repayment fees, and late payment charges.

couple walking on the beach at sunset

Types of vacation loans for Australians

  • Secured/Unsecured. Most personal loans are unsecured, meaning your assets are safe from seizure by the lender if you fail to repay. You can also go with a secured option that puts your asset at risk in exchange for a low rate.
  • Peer to peer. Peer to peer (P2P) personal loans are a fall-back alternative to traditional banks and credit unions. They allow you to borrow funds directly from other individuals via secure platforms.
  • Joint application. Do you have a travel mate, and are they a reliable friend or family member? You can not only share the fun with them but responsibility for the debt as well. Joint application holiday loans can boost your chances of approval and your borrowing capacity, to name just a few benefits.
  • Bad credit. You can still take a break from the humdrum of everyday life even if your credit rating needs a face-lift. However, you should factor in the higher than standard costs when planning your budget.
  • In-house financing from travel agents. Some travel companies and agencies also provide convenient finance products. But, this alternative doesn’t always have competitive rates and fees. Furthermore, you might still need to supplement your trip or vacation costs with your savings.
  • Line of credit. A line of credit personal loan allows you to make cash withdrawals up to a specific limit. It also has open-ended repayment periods and minimum instalments.

How to compare holiday loans

Holiday loan products usually have a mixed bag of features. A personal loan comparison helps you zero in on the right option for your needs. Typically, a well-researched comparison involves looking at these three factors:

  • Borrowing costs. When you’re comparing personal loans on the go, a glance at the comparison rate can tell you if the loan leans towards cheap or not. That’s because this percentage combines the interest rate alongside standard loan fees. A low comparison rate means you get to enjoy your vacation without sacrificing a huge portion of your budget.
  • Monthly repayments. Our holiday loan calculator is a neat tool that calculates estimated repayment amounts for different loan types, amounts, and terms. Use it to compare credit offers and to plan for future repayments. To find affordable loan repayments, move the sliders to enter your amount and your term, then click calculate. Repeat these steps as many times as necessary.
  • Flexible loan features. Be on the look-out for offers that orient well with your needs. Additional features that may be worth the sign-up include inbuilt travel insurance and early repayment or redraw facilities. You should also be able to choose from weekly, fortnightly, or monthly repayments.

Kick-off your trip with a travel loan application

When you need extra funds in your bank account, an online application is usually the fastest way to make your dream vacation a reality. Start yours by electing your preferred lender and clicking “Go to Site” to visit their website. For most unsecured personal loans, general requirements can be summed up as follows:

  • Be an Australian citizen or permanent resident
  • Minimum age of 18 years
  • Australian ID, driver’s licence, or passport
  • Proof of income and employment  – bank statements and payslips
  • A good credit rating

Holiday and travel loans FAQ

Is using a personal loan to pay for my holiday a good idea?

Typically, getting into debt should be a matter of last resort. But, if the pull of an adventurous holiday is too strong for you, make sure you borrow only what you can afford to make up the difference between your costs and your savings.

Are there any restrictions on how I use the funds?

This depends on your loan type. With unsecured loans (the common option for Aussie borrowers), there are hardly any restrictions to talk about. If any such restrictions exist, they are usually explicitly stated in the terms and conditions.

What happens when I have to cancel my holiday after a successful application?

If you’re lucky, you’ll be able to refund the lender in full at no extra cost. However, some lenders will treat the payback as early repayment and will charge interest and fees accordingly. You may also choose to use the funds for unrelated purposes if the lender approves. That means you’ll pay off the debt through regular instalments and over a fixed period as initially agreed.

Are there any suitable alternatives to holiday loans?

Yes, you could try using your savings (always the most recommended option!) and borrowing from family and friends. Credit cards are generally only viable if you come across a 0% deal with no hidden or expensive fees.

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