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Last updated on April 20th, 2022 at 02:11 pm by Bill Tsouvalas

Compare honeymoon personal loans

It’s crucial for so many newlyweds across Australia that their honeymoon is as magical as their wedding day, but travelling is rarely cheap. Fortunately, you can take out a personal loan to help ease the financial burden. Compare honeymoon personal loans with Savvy today.

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site-logos Wisr Unsecured Personal Loan
  Advertised Rate from (p.a.) Comparison Rate from (p.a.) Loan Term Min-Max Loan Amount Monthly
Repayments
 
site-logos 8.20%
fixed up to 17.95% p.a.
9.04% 
fixed up to 18.87% p.a. based on $30,000 over 5 years
3 to 7
Years
$5,000 to
$64,000
$611.17
over 60 months
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Borrow between $5,000 and $64,000 with great low rates for excellent credit. Get a personalised rate estimate in 2 minutes that won't impact your credit score.

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site-logos Plenti Unsecured Personal Loan (Excellent Credit)
  Advertised Rate from (p.a.) Comparison Rate from (p.a.) Loan Term Min-Max Loan Amount Monthly
Repayments
 
site-logos 7.39%
fixed up to 8.79% p.a.
7.39% 
fixed up to 9.91% p.a. based on $10,000 over 3 years
3 to 5
Years
$5,000 to
$50,000
$599.57
over 60 months
Go to site

Apply for an unsecured personal loan and enjoy low rates for excellent credit. With no early repayment or exit fees, there’s a lot to love about this loan.

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site-logos OurMoneyMarket Unsecured Personal Loan
  Advertised Rate from (p.a.) Comparison Rate from (p.a.) Loan Term Min-Max Loan Amount Monthly
Repayments
 
site-logos 5.85%
fixed up to 20.99% p.a.
6.48% 
fixed up to 23.83% p.a. based on $30,000 over 5 years
1 to 7
Years
$2,000 to
$75,000
$577.89
over 60 months
Go to site

Apply for an unsecured personal loan between $2001 to $75,000 for a variety of loan purposes. Get a personalised rate estimate in minutes without impact your credit score.

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site-logos Harmoney Unsecured Personal Loan
  Advertised Rate from (p.a.) Comparison Rate from (p.a.) Loan Term Min-Max Loan Amount Monthly
Repayments
 
site-logos 5.35%
fixed up to 19.09% p.a.
6.14% 
fixed up to 19.99% p.a. based on $30,000 over 5 years
3 to 7
Years
$2,000 to
$70,000
$570.96
over 60 months
Go to site

Borrow up to $70,000 with personalised rates and repay over 3,5 or 7 years loan terms.

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Disclaimer: A comparison rate indicates the true cost of a loan. The comparison rate displayed for this advertiser is calculated based on a loan amount of $30,000 over 5 years and represents the effective rate on the loan. Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.

Why Savvy can help you find your ideal honeymoon loan

Common questions about honeymoon loans

Can I get financing that only covers travel fares?

Yes – you may find a loan which only covers your airfares and paying for the rest of your holiday out of pocket is the right option for you, as it reduces the overall amount you end up taking on and the interest you’ll pay. However, you can cover up to 100% (or more) of the cost of your honeymoon with a personal loan.

Will I still get financing if my honeymoon is outside of Australia?

Yes – as it’s an unsecured personal loan, it won’t matter whether your honeymoon is intrastate, interstate or overseas. You’ll be able to use the funds however you see fit.

What is a comparison rate?

A comparison rate is a percentage figure which incorporates both the interest rate and primary fees present on a loan, which can provide a more accurate indication of the cost of your loan overall. As such, it’s often wise to compare based on these rates, rather than solely interest.

How much will my repayments be?

This will depend on how much you want to borrow and for how long. However, you can use our online calculator to find out how much you will be paying in monthly repayments based on different loan amounts, terms and interest rates.

How often can I make my repayments?

Our lenders offer flexible repayment plans that allow you to make payments weekly, fortnightly or monthly. However, we’re also partnered with lenders who won’t penalise you for making additional repayments above the minimum and completing your repayments early, which can be highly useful when it comes to looking to save money on your loan.

Why should I choose a personal loan over a credit card?

Personal loans come with more features that allow for flexibility when it comes to paying off repayments and tend to have lower rates than credit cards. If you’re unable to pay off most, or all, of your debt within your credit card’s interest-free window, you could end up accruing a significant amount of interest.

Your helpful guides on using a personal loan to finance your getaway

The option of co-signing

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.

Check for fees

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.

Using discounts to your advantage

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.

What do I need to be approved?

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.