FAQs

Terms for personal loans are subject to lender approval of each application. A term of 1 to 7 years is available on Unsecured Personal Loans.

An Unsecured Personal Loan is a credit product that can be used for a range of non-tangible expenses. That is, the funds are not used to purchase goods, which are the security for the loan. Unsecured loans do not require assets or collateral.

By definition, unsecured credit does not require assets as collateral for the funding. Some lenders may require some form of security, or approval may be received based on earnings capacity and creditworthiness.

Vacation loans may be used for various travelling and holiday purposes by cruise ship, air and road both overseas and within Australia.

Interest rates vary across the lending market and for individual applicants.

The maximum borrowing limit on holiday loans will vary with different lenders and for individual applicants.

Lenders typically offer Unsecured Personal Loans for financing holidays and travel.

Travel loans can be used to cover a range of expenses involved in the trip, including upgrading accommodation or tickets.

The destination for the vacation would not typically impact getting approved for holiday finance.

Yes. Holiday loans may be used to cover the cost of cruises.

Monthly loan repayments commence one month after settlement. Where weekly or fortnightly repayments are arranged, the first payment may be due within that timeframe after settlement.

Approval of holiday loan applications may vary across the lending market. 24-hour approval is quite typical.

Yes. Vacation finance is available for overseas and Australian travel.

Fixed interest rates allow for fixed repayments over the full term. This can provide borrowers with certainty. Variable rates may change and change repayment amounts but allow for additional payments with no early payout fees. This may provide flexibility.

Subject to conditions of the individual credit product, most personal loans allow for extra payments to be made. Fees may apply where the loan is finalised prior to the end of the fixed term.