Want a vacation? Here’s why you should consider a rapid travel loan

December 16, 2022

Has the pandemic been holding you back over the past few years? Or have you been eyeing up the holiday season for the trip of a lifetime? Either way, having enough funds to enjoy your holiday to the fullest is a must. The great news is that you can! If you don’t have enough money right when you need it, a vacation loan or travel loan may be the perfect option for you!

What is a Vacation Loan?

A vacation or holiday loan is an easy way to get the funds you need for your planned trip. Like most loans, you will get a lump sum up front to spend as you please on holiday, and then you pay it back with interest once you’re back. Holiday loans can cover transportation, hotels, rental cars and other travel-related expenses.

Should you get a travel loan?

Vacation loans by no means signify a free allowance for your holiday. On the contrary, paying interest over the life of the loan means the overall cost of your trip will increase.

However, a loan may be your only option if you’re faced with a business trip or emergency travel, or you have had some unforeseen expenses in the lead-up to your trip. Some people also consider a vacation loan worthwhile if they unexpectedly have the free time to take the journey of a lifetime!

Benefits of a travel loan

You can time your vacation when it suits you

Despite your best saving efforts, unexpected costs can occur throughout the year, leaving your travel fund dry and stopping your holiday plans in their tracks. Taking out a travel loan allows you to choose your vacation timing without worrying about aligning it with payday.

Less concern about overspending

One of the most significant benefits of a holiday loan is easing any underlying worries about your card declining. The peace of mind will make your holiday that much better!

You can have your dream honeymoon

You may have just had an amazing wedding experience after taking out a MoneyShop wedding loan, or you may have spent large allocations of savings towards creating the perfect day; most people end up going over their initial wedding budget!

Honeymoons can be just as important as your wedding. You can make your dream honeymoon a reality, even if you don’t have the funds together just yet, with a vacation loan to see you through.

Organise your holiday loan today with MoneyShop

If you want to apply for a travel loan, we make the process as easy and stress-free as possible! With competitive rates, streamlined online service, and helpful loan information, the MoneyShop team are known as New Zealand’s most trustworthy loan providers. Contact our friendly team if you want to talk about small or large fast loan options.

*MoneyShop loans are subject to responsible lending checks and standard approval criteria. Interest rates and fees vary based on your loan type and amount. For full details, please see our Privacy Policy, Terms & Conditions, and Costs of Borrowing page.

This information is general in nature and isn’t financial or professional advice. MoneyShop does not guarantee the accuracy or completeness of this content, and we recommend seeking personalised advice before making financial decisions

Our costs and terms

Loan amount

Borrow between $200 and $20,000, depending on your situation. Example: $3,000 over 78 weeks = $58.87/week.

Loan terms

Choose a term from 3 months to 3 years. Repay weekly. We’ll show your full schedule upfront.

Interest rate

The interest rates are 29.95% for loans with security or refinanced from existing loans, new unsecured loans are also 29.95%. The rate is fixed for the whole of the contract. Interest charges are calculated by multiplying the unpaid balance at the end of the day by a daily interest rate. The daily interest rate is calculated by dividing the annual interest rate by 365. Interest is charged when instalments fall due.

Default interest rate

MoneyShop doesn’t charge default interest. If your account falls behind, a $1 daily arrears fee may apply until things are back on track. Reversed payments incur a $5 fee, and missed‑payment contact may involve a letter fee (up to $50), a $5 phone fee, or an $80 + GST home‑visit fee. Any third‑party recovery costs are passed on at cost.

Establishment fees

One-time setup fee based on loan size:

Fee	Cost
$200 to $499	$65.00
$500 to $800	$160.00
$800 to $5,000 for three years or less	$300.00
$800 to $5,000 for three years or less	$300.00
$5,000 to $15,000 for three years or less	$310.00
Over $15,000 for more than three years	$455.00

Some loan setup costs come from third parties — such as credit checks, PPSR searches, and security‑registration fees — and these are passed on at cost. Your account also has a daily administration charge of 55c while it’s open. We send statements every six months, and extra statements are free by email or $5 if printed. If you repay your loan early, an administration fee of $50 (averaged) may apply, along with any third‑party deregistration costs.

Rate type

Your rate stays the same for the whole loan. No surprises. No hidden fees.

Repayment frequency

Pay weekly. Example: $1,500 over 52 weeks = $44.83/week.

Example: Borrowing $3,000 over 78 weeks

Weekly repayment: $58.87
Total repayments: $4,592.86
Includes: Interest, $300 establishment fee, $0.55/day admin fee
Does not include: Any optional or default-related fees

This example assumes a fixed interest rate of 29.95% p.a., no missed payments, and no early repayment. Actual costs may vary depending on your loan amount, term, and repayment history.

Want to check your rate with our personal loan calculator?

Learn more about loan costs, interest rates, and fees on our Cost of Borrowing page.