It won't affect your credit score.
Make your dream honeymoon getaway a reality by comparing low-rate personal loans right here with Savvy.
Fact checked
There's no need to worry about forking out to compare offers. Our service is free, so you can come back whenever you like.
You won't need to worry about sifting through documents and visiting the post office, as they can all be submitted online.
We've partnered with personal loan companies you can trust to ensure your comparison is a high-quality one.
Not everyone has the option of financing all their honeymoon expenses, with many Australians not having a credit score or overall financial position strong enough to access the personal loan they want on their own. The next best bet is to either get someone else, namely your partner, who has a strong credit score and financial position to take out a loan on your behalf which is known as co-signing. Keep in mind that you will have to pay back the loan responsibly together because if one of you defaults, the other will be responsible for paying the loan in full. It is important that you find a loan that comes with terms & fees suitable to both parties.
Checking the fees and charges that come with a loan can help you gauge whether a loan will be in your financial reach or not. This can affect how you pay for your loan on a monthly basis. Always look for affordability and flexibility. The flexibility of a loan is something that can either make or break your payments on the loan. Having your partner's input on which loan can work for you both will also save you from taking a loan that will cause you to enter your new chapter with a hefty bill to pay off. Keep an eye out for loans that come with any repayment penalty fees as this will affect your plans on paying out the loan earlier.
It is possible to have your honeymoon without paying out of your nose. It all comes down to researching and comparing to find the best deals to match your budget. Planning your honeymoon in advance can help you plan around discounts offered by flights, holiday resorts and more to help you save on expenses. This will also give you ample time to compare your options without giving up on your dream of sipping your favourite drink at your desired destination. With the extra cash that you have managed to save, you may have enough for things like mouth-watering meals, souvenirs and places to tick off your bucket list.
There are several key eligibility criteria which will be enforced by your lender when assessing your application. You'll need to be earning at or above a minimum income set by your lender, which will usually fall at $22,000 to $26,000 annually, although if you're looking for a larger loan, you'll need to be earning more than this in a majority of cases. In terms of the documents you'll need to be approved, you'll have to supply your last two payslips, your driver's licence and/or passport, evidence of assets and liabilities as well as potentially requiring 90 days of bank statements and your employment contract in some cases.
Personal loans come in all shapes and sizes, so read more about the ways you can use them, as well as how they might work for you.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
