Travel Loans: Everything You Should Know

Is Fiji on your list of places to visit? Hoping to relax on the beaches of Bali soon? Sometimes you need a bit of extra cash in the form of a travel loan. No matter where you want to travel, a small loan can help you get the cash you need to make it all happen.

If you already have a trip in the works, apply for a travel loan today. The application takes 5 minutes or less, and approval comes within one business day.

What is a travel loan?

A travel loan is a type of unsecured or secured personal loan used for travel expenses.

A travel loan can help pay you for:

  • Airfare
  • Transportation (trains, car rentals, bus tickets)
  • Excursions (snorkelling, kayaking, paddleboarding, ziplining)
  • Accomodation
  • All-inclusive resort fees
  • Cruises
  • Travel insurance
  • Food and drink
  • Shopping expenses
  • Entertainment (concerts, festivals, shows)
  • Tours (safaris, museums, historical routes)
  • Travel accessories (travel pillow, wireless earbuds)
  • And anything else you want to do on your holiday!

A travel loan lets you take the trip of a lifetime now, instead of waiting until later.

Eligibility for a travel loan

To be eligible for a travel or holiday loan with Swoosh, you only need to meet the following requirements:

  • Be a permanent Australian resident
  • Be 18 years or older
  • Have been employed for at least 3 months
  • Own a vehicle registered in your name, with no finance owing or encumbrances

If you meet these requirements and have a trip in the works, apply today.

Travel loans: how much can I get?

Like other online loans, a travel loan allows you to get exactly the amount you need. Travel loans typically range from $1,000 to $10,000, though they can reach up to $15,000.

Swoosh offers travel loans for any amount between $2,100 and $4,600.

On your application, just tell us how much you need, and we’ll take care of the rest.

You can use your funds on anything you want, which is the beauty of an online travel loan.

How long does it take to get my travel loan cash?

Booking your plane tickets and accomodation in advance can save you lots of money.

That’s why online travel loans are the way to go: they’re simple and fast.

After approval and signing of a contract, the funds will be transferred directly to your bank account overnight.

So, you could have the cash within a matter of a day.

The speed of a travel loan helps you book the deals you want—without having to worry about where the money will come from.

Often, the interest rates you’ll pay on a credit card are higher than what you’ll pay on a travel loan. You can get the money you need while avoiding credit card debt accumulation.

Holiday spending tips

Travel loans give you flexibility, and are often less expensive than using credit cards.

When determining how much to borrow, allow for a buffer of extra expenses. Unexpected things happen when we travel, and you want to make sure you have enough cash on hand to get you through the trip. If you end up not needing the extra money, you can pay it back to the lender after your trip.

To keep expenses low throughout your travels, try the following tips to save money on holiday.

Spending Tips

  • Buy groceries and make your own meals. You can save a lot of money on breakfast alone by stocking your fridge with yogurt, bread, peanut butter, and hard-boiled eggs.
  • Purchase tickets for airfare and excursions in advance to snag the best price. Airfare is usually the cheapest about 60-90 days ahead of your travel time.

  • Look for accomodation on alternate sites like Airbnb and HomeAway. If you’re travelling with friends, find a large place and split the cost (which ends up being cheaper than a hotel, but with more space).

Getting Around

  • Use public transportation when possible. Look for train, subway, and bus routes in the larger cities.
  • Travel light to reduce the number of bags you need to check (and pay for) with the airline.
  • Rent a car from a location not near the airport. Renting a car right at the airport is often 15-25{2f5ac156b00eba21775ae628bbcd1455392fa5a5d6d32389211b9514333d32d6} more expensive than choosing a car from a rental location that’s a few miles away.  
  • Choose a small rental car. Don’t go for the SUV. Select a small car at a reasonable price with great fuel mileage.  
  • Walk to dinner or a concert instead of taking a taxi.

Accessing Cash

  • Use a credit card with free international transactions. Fees rack up, even if they’re only 5{2f5ac156b00eba21775ae628bbcd1455392fa5a5d6d32389211b9514333d32d6}. Find a card that lets you make as many transactions abroad as you wantfor free.
  • Watch the currency exchange rate. Pay attention to where you’re exchanging your money and what the exchange fees are.
  • Remember that you’ll need to repay your travel loan, so guard yourself from spending too much on impulse purchases or souvenirs.
  • Choose the duty-free shops for tax-free items like chocolate and alcohol.

  • Be flexible with your travel days. Flying out on a Wednesday is often cheaper than flying out on Friday.  
  • Travel off-season for cheaper prices. Look at the non-busy times for the location you’re travelling to. It’ll be less crowded, and probably will save you a big chunk of cash.
  • Use reward points from your credit cards. Whether it’s for airfare or hotel stays, maximise your reward points by using them on holiday.

Flexible travel loan repayments

Holidays and getaways are supposed to be about relaxation and refreshment.

What’s a holiday if you’re stressed about money the whole time?

With a travel loan, you can repay the amount when it works for you.

Flexible repayment options are available—to match your paydays and unique schedule.
For example, at Swoosh, you can repay your loan weekly, monthly, or fortnightly.

You don’t even have to worry about it until you return from your holiday.

So, your trip can be everything you dreamed of, with no worries about paying for excursions, transportation, or drinks on the beach.

How to apply for a travel loan

Our online application for a travel loan takes 5 minutes or less. Apply today for a quick answer.