travel loans blog

Planning your next holiday with a travel loan

Embark on your next adventure sooner.

Robyn Slater
Robyn Slater 02 Jul 2024 ・ 3 min read
personal-loans

Dreaming of a holiday but conscious about the costs? A personal loan for travel purposes could be the ticket to your next vacation.

Travel loans can be used to help you explore the world, without compromising your savings.

Take a closer look at holiday loans and how they could help fund your next trip.

What is a travel loan?

A travel loan is a personal loan designed to cover your holiday-related expenses. You apply for the amount you need and choose a repayment term that suits your budget, making it a flexible option to fund your next vacation.

Once your application is approved, you receive a lump sum which can be used to cover various aspects of your trip as needed.

Whether you’re planning a winter getaway, beach holiday or exploring a new destination, a holiday loan could be a helpful financial companion.

Why choose a travel loan?

A travel loan could support you to embark on your next adventure sooner by helping you manage your budget and the costs involved with making it happen.

Instead of dipping into your savings upfront, the fixed repayment plan of a travel loan allows you to spread the costs of your trip over a set period.

Depending on the lender, loan terms can range from one to seven years giving you the flexibility to choose a repayment option best suited to your circumstances.

Compared to credit cards, a holiday loan typically offers lower interest rates with a predictable repayment schedule. You can also borrow a larger amount providing you with a clearer budget and the ability to cover greater travel expenses.

What can I use a travel loan for?

Whether you’re making bookings in advance or spending while on vacation, a travel loan has a range of uses. From flights to accommodation, tours, travel insurance, dining, or shopping, it can be used for simple expenses or to elevate your experience.

The versatility of a holiday loan means you can tailor it to meet you travel needs. It could help you finance part, or all the expenses related to your getaway.

How can I get a travel loan?

Applying for a travel loan is like applying for any other unsecured personal loan. A good first step is to figure out your holiday budget and how much you may need to borrow.

Once you’ve decided on the loan amount, start researching and comparing different lenders to find terms and interest rates that could work for you and your circumstances.

Many lenders offer fast online applications to help you lock in your vacation plans sooner. Some lenders, like Liberty, may even be able to approve and deposit the funds within 24 hours, depending on who you bank with. This quick process could help you secure your trip without delay.

Who can provide support?

If you’re ready to book in your next holiday, explore how a holiday loan could help make your travel goals a reality.

At Liberty, we can help you find a lending solution and personalised rate that aligns with your circumstances. Explore our free-thinking personal loan options here.

Robyn Slater
Robyn Slater Author
Robyn Slater is a writer for Liberty with a passion for simplifying complex concepts using clever copy. She enjoys playing social netball and keeping up to date with all things pop culture. Robyn is currently completing a Bachelor of Business at Deakin University.