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Satisfy your wanderlust with June’s top personal loans

Satisfy your wanderlust with June’s top personal loans

It’s been less than a couple of months since the Australian government lifted the national cruise ban and allowed cruise fanatics to hit the high seas once again. And it hasn’t been all that much longer since we’ve seen flexibility around international flights.

So, with many Australians experiencing itchy feet from being homebound for the past two years, it’s unsurprising that spending intentions for travel reached a new record in April, exceeding its pre-covid peak.

According to the latest CommBank Household Spending Intentions (HSI) Index, travel spending gained 10.6 per cent during the month and 41 per cent on April 2021.

Spending on travel agents, airlines, cruise ships, tourist attractions, hotels & motels and bus lines all increased, with a decline in camper & RV rentals reflecting changing travel patterns with the reopening of state and international borders.

“With an interest rate hiking cycle now underway the Australian economy is in a strong position,” CommBank senior economist Belinda Allen said.

“We are seeing a post COVID normalisation of consumer spending patterns, with lower spending on categories that increased during lockdowns like health & fitness, while higher travel and entertainment spending reflects more people being out and about,” she said. 

If you’re hoping to make similar plans sometime in the remainder of 2022, you might be thinking about your financing options.

Personal loans can come in handy if you want to book in a well-deserved getaway now, but don’t yet have the full amount of savings to cover the trip expenses. RateCity has a large database of personal loans available for a wide variety of purposes, including travel and holidays

To get you started on your personal loan comparison, RateCity has put together the top-rated personal loans for June 2022.

RateCity’s personal loan leaderboard ranks the top five personal loans using Real Time Ratings™, a rating system that gives loan products a score out of five, based on cost and flexibility.

It’s important to keep in mind, however, that a personal loan is a financial commitment that can often take several years to pay off. Consider using RateCity’s personal loan calculator for a repayment estimate to make sure they’ll fit comfortably within your budget. 

(Rankings are correct at the time of publishing. Please note lenders may trade places on the list as interest rates and fees change and RateCity’s tracker reflects these movements.) 

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This article was reviewed by Personal Finance Editor Mark Bristow before it was published as part of RateCity's Fact Check process.



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