Holiday and Travel Personal Loans

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Holiday and travel loans are personal loans used to cover the cost of flights, accommodation, and other costs associated with travel such as insurance and reservation deposits.

Here’s what you need to know about holiday loans before you apply with a lender.

How do Personal Loans for Holidays and Travel work?

A holiday and travel loan is a secured or unsecured loan used to finance various aspects of your travel plans.

The application and approval process for these loans is similar to other personal loans, although some lenders may require additional information to approve your loan application, such as confirmation from your employer that you will be returning to work and maintaining the same income once your holiday is finished.

In general, a holiday and travel loan has the same minimum and maximum amounts as other personal finance options, though due to the use of funds your lender may require some form of security (like a vehicle or property) to approve applications for higher amounts above $50,000.

You can qualify for a holiday & travel personal loan in New Zealand if you are:

  • 18 years or over
  • Currently employed with a sufficiently stable income to repay the loan amount
  • A permanent NZ resident or hold a work permit or visa allowing you to reside in New Zealand

If you meet the standard qualifying criteria for a holiday & travel personal loan, you can calculate how much you can borrow and compare lenders to find the best loan offers available in New Zealand before applying for a loan.

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How to find a holiday and travel personal loan

Before you apply for a holiday and travel loan, you’ll want to research available offers from lenders in New Zealand and compare the costs and repayments of each to find a suitable loan for your situation.

If you haven’t yet calculated the cost of your ongoing repayments, you can use a Personal Loan Repayment Calculator to see how much you’ll pay on various loan offers at different repayment frequencies. 

When deciding on the amount you wish to borrow, keep two things in mind:

  1. The amount you borrow will need to be sufficient to cover the costs of your holiday, as it’s unlikely you will be approved for another loan within a short timeframe.
  2. You will likely be making repayments while you are on holiday, which means accounting for any income you will receive during this period (such as holiday pay) when budgeting to determine how much you can afford. 

You can compare certain details of holiday loan offers to avoid costly repayments:

Interest rates

The interest rate attached to your loan determines the amount of interest charged on the outstanding principal amount (the amount you borrow). Lower interest rates usually require some form of security, and may not include lender fees in the advertised rate.


Second to interest rates, fees are often the hidden charges that make an advertised loan look better than it is in reality. Upfront fees like an establishment fee or loan processing fee can often be waived if you negotiate with the lender, while ongoing fees should be avoided to keep repayments at a minimum.


The term of your loan is the length of time you’ll make repayments on the borrowed amount. With a longer loan term, you’ll pay more interest over time. However, your regular repayment amount will be lower with a longer term, which could make repayments manageable while you are on holiday.

Extra savings

Some lenders may include loan features that can reduce your overall costs, such as package deals that include travel insurance and other holiday-related essentials, while other lenders may delay the initial date of your repayments to align with your holiday plans. Many loans include options for extra repayments if you want to repay the loan early, just make sure these don’t include any fees for doing so.

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