Holiday Loans

Your guide to getting the right holiday loan.

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Find the best Holiday Loans for you with Emu MoneyFind the best Holiday Loans for you with Emu Money

A quick guide to holiday loans

Holiday loans are personal loans specifically tailored to cover the expenses associated with taking a vacation. If you've been longing for that dream holiday but financial constraints are holding you back, a holiday loan might be the solution you need. This type of loan can cover a range of vacation-related costs including travel, accommodation, meals, tours, and even shopping. It offers a flexible alternative to using credit cards, saving you from high-interest rates and enabling you to enjoy your holiday without worrying about immediate financial impact.

Here's what a holiday 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 holiday loan for?

A holiday loan can be used to cover any costs related to your holiday. This could include flights or other transportation costs, hotel stays, dining expenses, sightseeing and tour costs, and any other expenses associated with your vacation. You could even use the loan to purchase new luggage or holiday attire. The idea is to enable you to plan your dream vacation without financial restrictions, whether you're jetting off to an exotic destination, planning an interstate road trip, or even arranging a special staycation.

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


Holiday loans can cover the cost of flights to your holiday destination, especially for international trips which can be quite expensive.


From hotels to vacation rentals, holiday loans can be used to pay for your accommodation during your trip.

Food and Dining

Holiday loans can cover the cost of meals, whether you're dining at restaurants or trying street food.

Excursions and Tours

If you're planning on doing guided tours or excursions, a holiday loan can cover these costs.

Car Rental

Renting a car for the duration of your holiday can be covered by a holiday loan.


From theme park tickets to spa treatments, holiday loans can fund various activities during your trip.

Travel Insurance

Holiday loans can also cover the cost of travel insurance, providing a safety net in case of unexpected incidents during the trip.

Emergency Funds

Having some extra money for emergencies can be useful during a holiday. A holiday loan can provide this financial buffer.

Souvenirs and Shopping

Holiday loans can also be used to buy souvenirs or for shopping during your vacation.

Prepaid Travel Card

To avoid carrying large amounts of cash or incurring high foreign transaction fees, a holiday loan can be used to load a prepaid travel card.

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How much can I borrow for a holiday loan?

When it comes to holiday loans in Australia, the amount you can borrow varies significantly based on several factors. Typically, the range for personal loans, which often serve as holiday loans, can span anywhere from around $2,000 to $50,000, with some lenders even offering up to $100,000. However, the actual amount you can borrow will be influenced by your individual financial circumstances . Lenders will assess your income, credit score, employment status, and existing financial obligations to determine your borrowing capacity. A higher income and a good credit score can boost your chances of qualifying for a larger loan. Your intended holiday expenses also play a part in the loan amount. This includes costs like airfare, accommodation, food, activities, and any miscellaneous travel expenses.

Keep in mind that different lenders have varying minimum and maximum loan limits, and the interest rates can also vary significantly. It's crucial to compare different lenders to find a loan that suits your needs and financial situation. Lastly, it's essential to remember to borrow only what you can comfortably afford to repay. A holiday loan can help fund your dream vacation, but it shouldn't lead to a financial nightmare upon return. Make sure to consider your ability to manage the repayments before finalising the loan amount.

Holiday 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 holiday 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 holiday 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 holiday loan?

Applying for a holiday 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 holiday 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 holiday loan for you?

When searching for a holiday 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 holiday 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 holiday 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 holiday 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 holiday 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 holiday 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 holiday loan, review the terms and conditions to ensure that early repayment is possible and to understand any potential limitations or conditions that may apply.

Find the best Holiday Loans for you with Emu MoneyFind the best Holiday Loans for you with Emu Money

Frequently Asked Questions

Still have questions about holiday 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.

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