Leisure Loans

Your guide to getting the right leisure loan.

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A quick guide to leisure loans

Leisure loans are designed to help finance your recreational needs. This can include anything from holiday funding, recreational vehicles, hobby equipment, or even personal watercraft. Like personal loans, leisure loans offer a fixed term, predictable monthly payments, and are usually unsecured, meaning they do not require collateral. However, interest rates can vary depending on your credit score and other factors.

Here's what a leisure loans typically looks like:

eligibility orange tickBorrow from $5,000 - $100,000
eligibility orange tickLoan terms from 1 - 7 years
eligibility orange tickWeekly, fortnightly or monthly repayments
eligibility orange tickFixed interest rates from 6.50%
eligibility orange tickVariable interest rates from 7.95%
eligibility orange tickInterest rate tailored to your situation

What can I use a leisure loan for?

Leisure loans can be used to finance a range of activities that contribute to your enjoyment and relaxation. This could include funding a family holiday, purchasing a caravan or boat for weekend getaways, buying high-end bicycles for recreational use, or investing in home entertainment systems.

Here are some common reasons people take out a leisure loan:

Boat Purchase

Leisure loans can fund the purchase of a boat for fishing, sailing, or simply enjoying the water.

Jet Ski Purchase

If you enjoy high-speed water sports, a leisure loan can help you purchase a jet ski.

Camper Trailer

A leisure loan can help you purchase a camper trailer for comfortable camping trips and road trips.


For those who enjoy travelling in comfort and with all the amenities of home, a leisure loan can fund a caravan purchase.


If you prefer two wheels to four, a leisure loan can help you purchase a motorbike for leisurely rides or adventure touring.


A leisure loan can cover the costs of a dream holiday, including flights, accommodation, and activities.

Home Entertainment Systems

To enhance your leisure time at home, you could use a leisure loan to purchase a home entertainment system.

High-End Bicycles

For those who enjoy cycling, whether for fitness or leisure, a leisure loan can fund a high-end bicycle purchase.

Musical Instruments

If you're musically inclined, a leisure loan can help you purchase musical instruments such as a grand piano or a high-end guitar.

Sports Equipment

From golf clubs to skiing equipment, a leisure loan can help fund your sports hobbies.

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How much can I borrow for a leisure loan?

The amount you can borrow for a leisure loan can vary widely based on your personal financial circumstances, the specific lender's policies, and the purpose of the loan. Leisure loans are often used to fund purchases of recreational items like boats, caravans, or holidays, and these items themselves can range greatly in cost. The type of leisure loan could also be either unsecured or secured, with the latter typically offering a higher borrowing limit due to the loan being secured against an asset. Typically, lenders offer leisure loans anywhere from $5,000 to $50,000, with some even offering up to $100,000.

However, the actual amount you can borrow will depend on factors like your credit score, income, other debts, and your ability to repay the loan. It's important to remember that while it might be tempting to borrow the maximum amount available, you should only borrow what you can afford to repay. Consider your budget and other financial commitments before deciding on the loan amount. Also, factor in potential running costs associated with the leisure item, such as maintenance, insurance, and storage costs for a boat or caravan.

Leisure Loan Repayment Calculator

To estimate your monthly repayments and the total cost of the loan, input the loan amount, loan term and interest rate into the calculator below. This helps you plan your budget and choose the most suitable loan terms.

Loan Amount
Establishment Fee
Loan Term (Years)
Interest Rate
Total amount to repay
Your repayments

Balance over time

Am I eligible for a leisure loan?

Lenders consider several factors when assessing your eligibility, including your credit score, income, debt-to-income ratio, age, residency, and required documentation. While meeting the eligibility criteria doesn't guarantee loan approval, having a good credit score, stable income, and a positive financial profile significantly improve your chances.

You are eligible to apply for a leisure loan if you are:

eligibility orange tickOver the age of 18; and
eligibility orange tickAn Australian citizen or permanent resident; and
eligibility orange tickHave a regular source of income, that is enough to meet the repayments

How to apply for a leisure loan?

Applying for a leisure loan is easy and only takes a few minutes. Get started by filling out some basic information into our application form. We’ll review your information, and someone will be in contact with you to discuss the best option for you from over 40+ Australian lenders.

If you’re eligible for a leisure loan, and you are happy with the initial quote, you will need to prepare documents such as:

eligibility orange tickPassport or drivers licence
eligibility orange tickProof of income and expenses (e.g. payslips, bank statements)
eligibility orange tickDetails of any current debts or other loans

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How to get the best leisure loan for you?

When searching for a leisure loan, it's essential to understand the different factors to find the best fit for your needs. From interest rates and fees to loan terms and early payout options, each factor can increase or descrease the total amount you will repay.

Interest Rate

When it comes to obtaining a leisure loan, one of the key factors to consider is the interest rate. The interest rate directly affects the overall cost of borrowing and your monthly repayment amount. It's crucial to compare interest rates from different lenders to ensure you secure a competitive rate that aligns with your financial goals and helps you save on interest expenses over the loan term. Keep in mind that interest rates can vary based on factors such as your creditworthiness and the lender's assessment of risk.


In addition to the interest rate, it's important to evaluate the fees associated with leisure loans. These fees may include application fees, origination fees, processing fees, and ongoing maintenance fees. By carefully understanding the fee structure of different lenders, you can choose a loan with transparent and reasonable fees. Evaluating both the interest rate and fees will help you determine the overall cost of the loan and ensure you minimize costs throughout the loan duration.

Comparison Rate

When comparing leisure loan options, considering the interest rate alone is not enough. The comparison rate provides a more comprehensive understanding of the true cost of the loan. It incorporates both the interest rate and any additional fees associated with the loan, giving you a clearer picture of the total cost of borrowing. By comparing comparison rates from different lenders, you can make more informed loan comparisons and select the option that offers the best overall value.

Loan Term

The loan term, or the duration of repayment, is an essential aspect to consider when obtaining a leisure loan. Shorter loan terms generally result in higher monthly payments but lower overall interest costs, as the loan will be repaid in a shorter timeframe. Longer loan terms may offer lower monthly payments but could result in higher interest expenses over the life of the loan. It's crucial to assess your financial situation and determine the loan term that aligns with your ability to comfortably make repayments while minimizing interest costs.

Early Payout

Flexibility in loan repayment is valuable when considering a leisure loan. Early payout options allow you to repay the loan before the agreed-upon term without incurring penalties or additional charges. This flexibility can be advantageous if you come into unexpected funds or wish to reduce interest expenses. Before finalising a leisure loan, review the terms and conditions to ensure that early repayment is possible and to understand any potential limitations or conditions that may apply.

Balloon Payment

Some leisure loans may include the option for balloon payments. A balloon payment is a larger lump-sum payment due at the end of the loan term. While balloon payments can reduce monthly repayment amounts, it's important to carefully consider their implications. Ensure that you will have the necessary funds available to make the balloon payment when it becomes due. Balloon payments can be a suitable option if you anticipate having the funds or plan to refinance the balloon payment at the end of the loan term. However, it's crucial to fully understand the impact of balloon payments on your overall financial strategy.

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Frequently Asked Questions

Still have questions about leisure loans?

These helpful FAQs will help you find the answers you need. If you can't find what you're looking for, you can request a callback below.

What is the interest rate on a leisure loan?
How long does it take to get approved for a leisure loan?
Can I pay off my leisure loan early?
Are leisure loans secured or unsecured?
Can I get a leisure loan with bad credit?
What happens if I can't repay my leisure loan?
Can I get a leisure loan if I'm self-employed?
How does a leisure loan affect my credit score?