Travel Loans

Once your travel loan application is approved, the funds are directly deposited into your specified account. This allows you to either book your dream holiday or alleviate the financial strain from a recent trip by settling credit card bills.

Initial repayment begins 30 days after signing the loan contract and covers principal, interest, and fees. The total repayment period, as set out in your loan contract, is determined by the loan amount, rate, and selected term, and is there to help you complete repayment of your loan within the specified timeframe.

Utilise our travel loan repayment calculator to estimate your monthly repayment, which varies based on the borrowed amount and rate.

Applying for a travel loan with Plenti is a swift and straightforward online process. Upon confirming your eligibility, you can obtain a rate estimate by completing the rate estimate here. If you are satisfied with the estimated rate and repayment terms, you can seamlessly progress to the next steps by clicking through to the application.

During this process, be prepared to verify your identity and income. By having your identity documents and bank statements ready, you can ensure a smooth application experience.

Generally, fees for a travel loan can include an establishment fee, monthly account-keeping fee, additional payment fee, early exit fee and missed or late payment fees. 

For a Plenti travel loan, the fees that apply include a credit assistance fee (establishment fee) and a missed payment fee. Fees Plenti does not charge include monthly account keeping, additional repayments or early loan termination fees.  

If you choose to apply through a personal loan broker, you may need to pay other fees such as an origination fee, however, this will be agreed upon with your broker before they submit an application with Plenti on your behalf. 

To qualify for a Plenti travel loan,  you must meet the following criteria:

• Age: 18 years or older
• Citizenship: Australian citizen or permanent resident
• Income: earn over $25,000 annually from a verifiable, regular income source
• Credit history: maintain a good credit history

If you're self-employed and uncertain about your eligibility, don't fret. You can apply as long as you have been in your current role for at least 12 months.

A travel loan can make your dream adventure more attainable by helping you manage and spread out the costs.

Instead of using your savings upfront, a travel loan allows you to cover your trip expenses with fixed monthly repayments over a set period.

When determining how much to borrow, consider adding a buffer for unexpected expenses. It's always wise to have extra cash on hand to cover any unforeseen costs. If you end up not needing the extra money, you can simply repay it to the lender after your trip.

To keep expenses low throughout your travels, try the following tips:

Spending Tips

• Plan Ahead and Save: Purchase groceries and prepare your own meals to save on dining costs. Consider alternate accommodations like Airbnb, and keep an eye out for online deals to secure the best prices.

Getting Around

• Use Efficient Transportation: Utilise public transport such as trains, subways, and buses. Travel light to avoid extra baggage fees, rent cars from locations away from the airport, and choose smaller, fuel-efficient cars. Whenever possible, walk to nearby destinations.

Accessing Cash

• Bank Smartly: Use cards that offer free international transactions to avoid fees. Monitor currency exchange rates to get the best deal. Avoid impulse buys and stick to a budget and take advantage of duty-free shops for tax-free items.

These tips can help you manage your travel budget effectively while maximizing the benefits of your travel loan.