From jam-packed adventures across Europe to unwinding poolside with a cocktail, it’s no secret that over the years, holidays have become more expensive for travellers. According to Budget Direct, the average Australian spends $4,750 on an overseas trip. But can you get a loan for travelling? It’s a common question we hear from Australians exploring their financing options.
In this blog, we’ll answer the question, ”Can I get a Personal Loan for travel?” and explain how a Travel Loan can help you take your well-deserved holiday sooner than you think.
What is a Travel Loan?
A Travel Loan is a type of Personal Loan that can be used to cover the upfront costs of a holiday. A Travel Loan can be used to cover anything from flight tickets to accommodation, activities and more. A Travel Loan comes with an interest rate, a fixed repayment period and other features that can assist you in repaying the loan.
Here are some benefits of a Travel Loan:
- Preserve your savings — A Travel Loan assists you in paying for your trip’s upfront costs. This helps you in protecting your hard-earned savings for investments, unexpected expenses or other financial goals. It’s also a good idea to keep your savings intact while still being able to travel to further enhance your financial security.
- Access special travel deals — Many savvy travellers like to play it smart when it comes to securing one-in-a-lifetime experiences and deals. Having access to instant funds through a Travel Loan allows you to swiftly take advantage of special travel deals, discounts or other limited-time offers.
- Upgrade your travel itinerary — Whether it’s staying in a luxurious hotel, booking a better flight or participating in exclusive activities, having access to additional funds through a Travel Loan can enhance the overall quality of your trip.
- Payment flexibility — Many lenders allow borrowers to choose their repayment terms, making it easier to manage finances while repaying the loan. This kind of flexibility can assist in streamlining the repayment process, as you’ll be using a financial product that seamlessly integrates with your lifestyle.
How to get a Travel Loan with Finance One — our application process
Since 2010, Finance One has been helping Australians of all financial backgrounds access the funding they need for the getaways they deserve. And if you’re ready to submit your application with us, don’t forget to ensure you are eligible for a Finance One Travel Loan. While we don’t ask for much, we do require you to be:
- At least 18 years of age
- Looking to borrow between $5,000 to $25,000
- Employed and receiving a regular income
- A person with previous credit issues or defaults
Ready to get started? Here’s the Finance One Travel Loan application process:
- Complete an online application or call us on 1800 346 663 for a Travel Loan and submit the required documents, including your driver’s licence, bank statements, proof of steady income and employment records.
- Our team reviews your application, taking into account your financial circumstances and ability to repay the loan.
- Our team will be in touch with a decision within 48 hours.
Our top three tips for choosing a cost-effective Travel Loan
There are a few things to consider before taking out a Travel Loan to help cover the cost of your next trip. The last thing you want is for your Travel Loan to cause more harm than good, which is why we’ve listed our top three tips for ensuring a positive Travel Loan experience.
- Plan your borrowing amount wisely — When you’re staring down the barrel of what appears to be an endless supply of cash, it’s easy to get carried away. However, keep in mind that you will have to payback whatever you borrow, so only borrow what you need. It’s also worth factoring your loan repayments into your monthly budget to ensure you can comfortably manage the additional financial commitment.
- Know how you’re going to pay it off before applying — Once you have decided on a borrowing amount, you’ll need to figure out how you’re going to pay it off. This includes thinaking about your loan term and how much you can afford to repay each month. Longer loan terms result in smaller repayments and more interest, whereas shorter terms result in larger repayments but less interest.
- Investigate loan features — Many loans have special features that can assist you with repayments, such as extra repayment facility. Paying more than the minimum required amount can help you repay the loan faster and reduce the amount of interest paid. With Finance One, you can make additional repayments to your Travel Loans with no penalty, giving you greater control over your loan.
Discover fast and accessible lending with Finance One
Don’t let financial constraints hold you back from your next great adventure. With Finance One as your trusted partner, you can confidently explore the world, knowing that your journey is not just a ticket to your dream getaway but also a step toward financial empowerment.
With a reputation for responsible personal lending, Finance One offers tailored solutions for individuals from all financial backgrounds. Whether you’re a seasoned traveller or a first-time explorer, Finance One understands your unique needs and provides flexible, affordable options designed to make your travel dreams a reality. Submit your application today to get started.
Disclaimer: The information above is of a general nature only and does not consider your personal objectives, financial situation or particular needs. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your particular circumstances. We do not accept responsibility for any loss arising from the use of, or reliance on, the information.
Normal lending criteria apply. Fees and charges are payable. Terms and conditions apply.
