A personal loan for travel? Yes, world cups, tennis opens and Olympics are within reach

Athletes are excited as they appear to have just won a game

For Aussies wanting to watch sporting events live, now may be the time to start booking flight tickets before there’s a further increase in prices. 

Upcoming calendar highlights like the Rugby World Cup 2023, Australian Open 2024 and the Olympics 2024 have drummed up much interest worldwide and so demand is high.

Return flights from Europe this month might be costing rugby fans around $4,500 per economy class ticket, for example, or about $15,000 in business class.

Yes costs can quickly add up - accommodation, travel and obviously your tickets! But if you don’t have the money to pay the costs upfront, you could consider a personal loan

Personal loans for travel purposes

Crowds cheer as a personal loan might have been used so they could attend a sporting event

You might not realise it but a personal loan can be used for travel, allowing you to cheer on your favourite player or team in person.

The benefit of a personal loan is you can usually pay it back in instalments over time rather than paying it all off at once. Additionally, getting approval on your loan application can take as little time as one day with some lenders - provided you meet their specific criteria. 

So you might be able to catch the next flight out if you’re making last minute travel arrangements to catch the rugby game. 

However, it’s good to keep in mind that personal loans usually attract interest on top of the initial amount that needs to be repaid. If you’re unsure how much your repayments will add up to, crunch the numbers using a loan repayments calculator to get a better idea. 

As an example, if you borrowed $5,000 from your lender at a rate of 9.5% interest p.a over 3 years your monthly repayments would be $166 and the total interest paid - on top of your loaned amount - would be $766. This needs to be accounted for in your budget when considering a personal loan. 

It’s worth comparing a few different personal loans at different rates before choosing.

Compare personal loan options 

Ready to attend your favourite events? Check out a roundup of the best personal loans our experts have tracked this month. And you can also start comparing your top options below!

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can search our database of 252 personal loans.
Last updated 16 June 2024 Important disclosures and comparison rate warning*
  • Mozo Expert Choice Badge
    Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.75% p.a.to 26.95% p.a.
    6.75% p.a.to 26.95% p.a.based on $30,000
    over 5 years

    Borrow up to $50,000 unsecured. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Multi-year winner of Mozo’s Experts Choice Unsecured Personal Loan Award, 2021, 2022, 2023 & 2024^'

    Repayment terms from 2 years to 7 years. Representative example: a 5 year $30,000 loan at 6.75% would cost $35,430.23 including fees.

    Compare
    Details
  • Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    5.76% p.a.to 24.03% p.a.
    6.55% p.a.to 24.98% p.a.based on $30,000
    over 5 years

    Fast, easy and 100% online, this is a low cost loan with no ongoing fees or extra repayment penalties. It's perfect for savvy borrowers with great credit. If you’re over 18 and earn above $30,000, you could qualify (other eligibility criteria may apply).

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 5.76% would cost $35,173.52 including fees.

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    Details
  • Express Personal Loan

    Secured

    interest rate
    comparison rate
    Monthly repayment
    14.95% p.a.to 27.95% p.a.
    29.30% p.a.to 42.8% p.a.based on $10,000
    over 3 years

    Access fast finance on loans from $3,000 to $25,000 with a Jacaranda Finance Personal Loan. Terms from 25-48 months. Check if you qualify with no impact on your credit score. Enjoy a speedy, online approval.

    Repayment terms from 2 years to 4 years. Representative example: a 3 year $10,000 loan at 14.95% would cost $14,324.71 including fees.

    Compare
    Details

* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

^See information about the Mozo Experts Choice Personal Loan Awards

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