Can I get a loan to pay for a holiday?

Personal Finance · 09 Dec 2019

There are many reasons why people take out a loan. One of the most popular that we see on Harmoney is to pay for a holiday.

There are many reasons why people take out a loan. One of the most popular that we see on Harmoney is to pay for a holiday.

If you've got plans for an overseas trip, but you can't quite afford it at the moment, we're here to help.

Why apply for a holiday loan?

Applying for a holiday loan is usually a matter of timing. Whether it's being able to get time off work or taking advantage of a huge sale, it's often the case that there's no time like the present.

Sometimes to make the most of good deals, you end up booking a few months in advance, and need to come up with a large deposit straight away.  The advantage of taking out a Harmoney holiday loan is that you can pay up front as needed, and be paying-off the loan before you take the trip.

If you have some spending money included in your loan, you can set it aside in a designated holiday bank account so you can avoid a credit card blow-out while you’re away.

Parents who have school-aged children are very restricted by when they can take trips overseas. Easter and Christmas breaks are very busy because of this, which unfortunately drives up the prices of hotels and attractions.

Despite our best intentions, sometimes we just don't have the cash at hand to spoil our loved ones. Having a lump sum to cover flights, accommodation and other costs of a trip can be a huge help, especially when you can pay it back in smaller chunks after you return.

Where to go on holiday?

Taking out a holiday loan can give you more freedom to choose where you want to go. To get some ideas, travel website Skyscanner recently released its Australia Travel Trends 2020 report that lists the most popular, emerging and best value travel destinations for Aussies.

Most popular: Bali, Indonesia

It's no surprise that Bali tops the list of most popular holiday destinations for Aussies. Depending on what you want from your holiday, it's easy to find areas on the island that have more Australians than Indonesians.

However, mixed in with the tourists is a local culture that's 100% Indonesian. From the temples and landscapes to the incredible cuisine, you'll never forget that you're overseas.

Bali has many different tourist areas, each with their own reputations. Three of the most popular are Kuta, Sanur and Ubud.

  • Kuta, close to Bali Airport, is the heart of the nightlife, popular with young travellers and huge celebrations.

  • Sanur, on the east coast of the island, is a quieter coastal retreat that may be better suited for young families.

  • Ubud is inland, among the rice terraces and rainforest. It offers a more spiritual break, with yoga and meditation retreats being popular in this area.

More than anything, Bali is famous for its relaxed atmosphere. Whether you're at one of the many beaches or sitting by the hotel pool, it's an island of tranquillity that offers visitors a well-deserved break.

Second on the list is London, UK. If you don't mind the longer flight, the English capital is home to history, famous architecture and infamous pub lunches.

Emerging hot spot: Bogota, Colombia

If you'd rather escape the crowds of Aussie tourists, heading to South America is becoming a popular alternative. The Colombian capital, Bogota, is growing in popularity thanks to its diversity of life.

You can take a day trip to the Andes mountain range, browse the local jewellery stores full of local emeralds and indulge in the Colombian cuisine.

Second on the list is Nepal, Kathmandu. Similar to India in many ways, Nepal is also home to Mount Everest. Even if you're not going to climb it, you can still marvel at its size from the ground or by taking a helicopter tour.

Best value: Port Vila, Vanuatu

Vanuatu is a nation made up of islands and beaches. A trip to Vanuatu allows you to escape the crowds of Bali and Phuket while still enjoying a tropical paradise.

Flights from Sydney and Brisbane take four and three hours respectively, making it a much quicker flight than the usual options too. Best of all, flight prices have dropped by 13% over the last year, helping you to save more.

Second on the list is Queenstown, New Zealand. The price of flights to the world's self-proclaimed adventure capital has also dropped 13%.

Apply for your holiday loan with Harmoney

Whether you want to book a flight to the beaches or the snow, across the Tasman or across the world, no one can ever take away the memories and experiences of travel.

Treat your family or just spoil yourself by making it happen today. Find out more by seeing what Harmoney can offer in the way of holiday loans.

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