How to fund your once in a lifetime trip with a great personal loan

By Ceyda Erem · Thursday, 22 November 2018 · 2 min read

Fact Checked

Whether it’s two weeks in the Maldives or a month long adventure in Europe, everyone has their dream holiday. But for many Aussies, tight budgets and rising living expenses can force the fantasy to be put on hold.

If you’re serious about taking the trip of a lifetime and not missing out on any part of it because you’re worrying about your bank balance, taking out a personal loan could be the right choice for you. And you’re just in time, as we’ve just announced the winners of our 2018 Mozo Experts Choice Personal Loan Awards!

So if you’re ready to take a holiday you’ll never forget, here are three award winning loans to kickstart your search.

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Important disclosures and comparison rate warning*

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Comparison rate warning

WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. 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.

How Initial Monthly Repayments figures are estimated

Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

Harmoney - Unsecured Personal Loan

2018 Mozo Experts Choice Excellent Credit Unsecured Personal Loan winner
Fixed rates from 6.99% (7.69% comparison rate^^)
$0 service and exit fee

Find out more

If you’ve worked hard to build the perfect credit score, then the Harmoney Unsecured Personal Loan might be just what you’re looking for. With fixed rates from 6.99% (7.69% comparison rate^^), you’ll be able to borrow up to $70,000 to put toward your getaway of a lifetime. And with no service or exit fees, it’s no wonder it took out a 2018 Mozo Experts Choice award for Unsecured Personal Loan. However, one thing you should remember is the $500 upfront fee you’ll be charged once your loan is approved.

SocietyOne - Unsecured Personal Loan

2018 Mozo Experts Choice Excellent Credit Unsecured Personal Loan
Fixed rates from 7.50% (9.51% comparison rate^)
No ongoing or exit fee

Find out more

Next up is the SocietyOne Unsecured Personal Loan - Excellent Credit (Fixed), a loan which just took out a 2018 Mozo Experts Choice Award for Excellent Credit Unsecured Personal Loan. As this is a peer-to-peer loan, if your credit history is in tip top shape, you can get access to the 7.50% fixed rate (9.51% comparison rate^). You also won’t have to worry about any extra costs because there’s no ongoing or exit fees either. Just keep in mind that there is a $300 upfront fee.

MoneyPlace - Unsecured Personal Loan

2018 Mozo Experts Choice Excellent Credit Unsecured Personal Loan winner
Fixed rates from 7.65% (7.65% comparison rate ^^)
Extra repayments available

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Our last personal loan deal to help fund your next holiday is the MoneyPlace Unsecured Personal Loan (Fixed). With fixed rates from 7.65% (7.65% comparison rate ^^) and no upfront or ongoing fees, this could be the right loan for Aussies with a tight budget. There’s also the option to make extra repayments, so you can put every dollar towards getting out of debt, but just remember to be sure, as there is no redraw facility.

And if you’d like even more options, you can check out our full winners list or use our personal loan comparison tool.

^* 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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Ceyda Erem

Money writer

Ceyda Erem is Mozo’s authority on Energy, as well as having broader expertise as a personal finance writer. She loves to put her researching and writing talents into stories that help our readers to make more informed financial choices, whether that’s about finding the best energy deal or writing about the latest sneaky bank tricks. Ceyda has a Bachelor of Arts (major in writing) from Macquarie University.