Weekend getaways are an excellent way to de-stress your life and hit refresh on your mental health. They give you the time and space you need to relax without breaking the bank or taking up too much of your time the way a proper vacation can.
You don’t even need it to be fancy, and it can just be a weekend travel trip to nearby destinations via a small flight or road trip with your partner or friends. While a weekend getaway/travel is fairly inexpensive, sometimes you may be strapped for cash and can’t come up with the fund immediately.
This does not mean that you should miss out on the opportunity to relax with your partner or join your friends on the weekend travel trip they planned.
You may not know, but several trusted lenders in Australia will easily give you small to medium loans for vacations like your weekend getaway/travel. These “vacation loans” are personal loans, and depending on the amount you borrow, they can be secured or unsecured loans.
Typically, if it’s under AUD 2,000-5,000, you can get it instantly like a same-day loan without having to secure it with any personal asset as collateral. Lenders give these loans for vacation purposes, and you can spend the loan amount on your travel expenses like transport, accommodation, or other travel expenses.
Benefits of Vacation Loans for Weekend Getaway/Travel
Here are the key benefits of these types of small vacation loans.
- Get Funds in a Pinch
These loans are fast loans, which means you won’t have to worry about missing out on a planned weekend getaway/travel plan just because you are short on cash. It can save you a missed opportunity to relax and enjoy time with your loved ones.
The best part is that you can apply online and get the funds transferred to your account on the same day.
- Favourable Terms
Unlike a line of credit or a credit card loan, this type of personal loan has a predetermined fixed period. Lenders typically give you options for the term period of up to 3 years, and you choose how long you want to spread the repayments.
- Easy Fixed Instalments
Being a personal loan, a vacation loan is typically repaid in fixed monthly instalments over the predetermined term. This means you pay the same, fixed amount each month to repay the loan, making repayment less complicated.
- Low Interest Rates
Moreover, unlike your credit card interest rates, the interest rates on such loans are relatively lower. However, the exact rates may depend on your lender and other factors like your credit score.
- Bad Credit Is Not an Issue
Since these are small personal loans, often bad credit is not an issue and lenders will not only approve your weekend getaway/travel loan but may even give you the same favourable rates and terms as they would to a good credit score holder.
Of course, this will all depend on the lender and their policies.
You shouldn’t always have to compromise on a chance to de-stress and improve your mental health. While taking loans isn’t the best, we think it’s well worth it if you can get favourable terms and rates on small loans for a weekend getaway/travel opportunity.
Such a loan is easy to pay off and won’t put a dent in your income. Naturally, you must always assess your financial situation and consult your financial advisor before taking any loans, but if you can afford it, we say go for it.
We recommend responsible and trusted online lenders like Jacaranda Finance because of their transparent practices, quick loans, and favourable rates and terms. We also recommend that you always do your research before opting for any lender.