Travel Loans

Travel Loans

Many people keep a travel bucket list, outlining destinations they wish to visit at least once in their lifetime. However, when they lack the funds to cover travel expenses, they often postpone their dream vacation until they can accumulate enough savings. Travel loans can provide an excellent financing option for those seeking to travel without immediate access to extra cash.

SocietyOne is a leading online lending platform that has helped thousands of Australians access personal loans for a wide range of needs, including travel. We offer both secured and unsecured personal loans that you can also use as a renovation loan, a wedding loan, or a source of funds for other needs. What sets us apart from most traditional banks is that you can apply for fair loan deals entirely online.

Your searches for terms like ‘personal loan for travel’, ‘travel loans Australia’, and ‘loan for holiday trip’ show that you may have other questions related to travel loans. With that, we’ve answered the common questions below and put them at your disposal.

Is it a good idea to get travel loans?

Travel loans enable eligible borrowers to get to their desired destination even when they don’t have the money upfront. It could be a good idea to consider if you need fast access to extra funds to cover travel costs such as airfare, accommodation, travel show money for international destinations, and more. But before getting a travel loan, consider how easy it is to apply for one first to avoid stressful loan processes.

With SocietyOne, you could have a better chance of getting your travel funds sooner, thanks to our online loan application process. You simply have to navigate our platform, request a personalised quote, and follow the prompts if you like the loan offer we present to you. Because of the online loaning process, you can apply for travel loans from the comfort of your home or office.

All you need is a computer or smartphone and a stable internet connection to get started applying for our personal loans. If you have an eligible asset that you can use as collateral, you can request a secured personal loan from SocietyOne to borrow up to $70,000 and choose between loan terms ranging from two, three, five, or seven years. Conversely, an unsecured personal loan allows you to borrow up to $50,000 with repayment terms of two, three, or five years.

Are travel loans also available for students?

Some students look for a personal loan in Australia to use as travel funds for their upcoming holiday trip. But whether or not students can access travel loans depends on the unique terms and eligibility requirements of a lender. The same is true for other types of loans, such as a loan consolidation option.

SocietyOne services are designed to give you a hassle-free experience, but to further streamline the process, it’s best that you know our minimum eligibility criteria before applying for a loan.

To be eligible for borrowing, applicants must be eighteen years of age or older and either Australian citizens or permanent residents. Additionally, they should have an annual income of at least $30,000 and a good credit history.

Unlike most traditional banks with lengthy processes and tedious paperwork requirements, it only takes a few minutes to submit a loan request at SocietyOne. In two minutes, you can receive a personalised quote from us, and from there, you only need five minutes to complete the online application.

What should I look for when choosing travel loans?

When choosing travel loans, several factors are crucial to consider to ensure you obtain the ideal loan offer for your needs.

The interest rate is one of the most critical factors to consider, as it determines the cost of borrowing. The loan term is another factor to consider, as it affects the loan repayment amount and the total cost of the loan. Choose a loan term that aligns with your repayment capacity and financial goals.

Apart from the interest rate and loan term, make sure to also consider the fees that come with the loan. Some lenders may charge upfront fees, ongoing fees, or late payment fees, which can add up to the total cost of the loan. Make sure you understand all the fees associated with the loan and include them in your budget.

The good news is that here at SocietyOne, you can enjoy competitive and honest rates as well as flexible loan terms and repayment frequencies. There will be no ongoing fees, hidden charges, or early repayment fees here at SocietyOne. Should you wish to pay off your loan early, you can do so without incurring additional charges.

On our platform, you can also make use of our online personal loans repayment calculator to get an estimate of your applicable loan fees based on your desired loan amount, loan term, type of loan, and repayment frequency (monthly or fortnightly). If you wish to use our personal loans as travel loans, you could get lower interest rates the better your credit profile is. This is thanks to our risk-based pricing.

Worried about your less-than-perfect credit score? There’s no need to be! We’ll give you access to tips on improving your credit score, which could also improve your offers at SocietyOne.

Get one step closer to checking off a destination from your travel bucket list. Get your rate and apply for a personal loan with SocietyOne today!