Whether you’ve been waiting to visit loved ones in Perth or New Zealand, or are just simply itching for a well-deserved holiday, comparing personal loan options could help you on your way.
According to the latest lending indicators from the Australian Bureau of Statistics, new loan commitments in January 2022 rose 0.8% month-on-month for personal fixed term loans, with an uptick in new loan commitments for the purpose of travel and holidays contributing to the increase.
Meanwhile, the latest Commonwealth Bank Household Spending Intentions (HSI) showed that while travel spending fell 6.9% month-on-month in February as people returned from holidays, it was 40.5% higher than February last year.
CBA Chief Economist Stephen Halmarick said the rise in the CommBank HSI Index in February showed Australians were back on the move following the end of COVID restrictions.
If you are one of many Aussies who are keen to take advantage of lifted domestic and international travel restrictions and start making long awaited holiday plans, you might be thinking about your financing options.
Personal loans can come in handy if you want to book in a holiday now, but don’t have quite enough in 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 March 2022.
It’s important to keep in mind, however, that a personal loan is a financial commitment that can often take a number of 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.)