Honeymoon Loans

Make your dream honeymoon getaway a reality by comparing low-rate personal loans right here with Savvy.

Written by 
Savvy Editorial Team
Savvy's content writing team are professionals with a wide and diverse range of industry experience and topic knowledge. We write across a broad spectrum of finance-related topics to provide our readers with informative resources to help them learn more about a certain area or enable them to decide on which product is best for their needs with careful comparison. Meet the team behind the operation here. Visit our authors page to meet Savvy's expert writing team, committed to delivering informative and engaging content to help you make informed financial decisions.
Our authors
, updated on October 4th, 2023       

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

Personal Loans Banner

Why compare personal loans through Savvy?

Types of personal 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.

Handy personal loan guides

Still looking for the right personal loan?

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.

We'd love to chat, how can we help?

By clicking "Submit", you agree to be contacted by a Savvy broker and to receive communications from Savvy which you can unsubscribe from at any time. Read our Privacy Policy.