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Best Vacation Loans: Finance Your Next Travel

Find the Best Loans for Vacation: with so many options available, it cannot be easy to know which loan is right for you. You can find the best loan to suit your budget and needs by comparing interest rates, fees, and repayment terms.

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Top Vacation Loan Lenders

LightStream Division of SunTrust Bank
  • APR: 5.40 - 35.99%
  • Loan Term: 24 - 84* months
  • Min Credit Score: 660
View details
Key facts
  • Good credit gets low rates and zero fees
  • Fast and easy online process
  • $100 Loan Experience Guarantee¹

Read LightStream Review »

*Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Lowest rates require excellent credit. Rateis quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66. 1After receiving your loan from us, if you are not completely satisfied with your experience, please contact us. We will email you a questionnaire so we can improve our services. When we receive your completed questionnaire, we will send you $100. Our guarantee expires 30 days after you receive your loan. We reserve the right to change or discontinue our guarantee at any time. Limited to one $100 payment per funded loan. Truist teammates do not qualify for the Loan Experience Guarantee. Truist Bank is an Equal Housing Lender. © 2021 Truist Financial Corporation. SunTrust, Truist, LightStream, the LightStream logo, and the SunTrust logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

Discover Designs loans for you
  • APR: 6.99 - 24.99%
  • Loan Term: 36-84 Months months
  • Min Credit Score: 660
View details
Key facts
  • Wide range of loan term lengths.
  • 30-Day money-back guarantee on loan proceeds.
  • No origination fees or prepayment penalties.

Read Discover Review »

Loan approval is subject to confirmation that your income, debt-to-income ratio, credit history and application information meet all requirements. Loans are unsecured. Loans are fully amortizing personal loans as long as you pay on time. You must have a minimum household income of $25,000 to be considered for a Discover personal loan. A Discover personal loan cannot be used to pay for post-secondary education or to pay off a secured loan. Your APR will be between 6.99% and 24.99% based on creditworthiness at time of application for loan terms of 36-84 months. For example, if you get approved for a $15,000 loan at 6.99% APR for a term of 72 months, you’ll pay just $256 per month for a total amount of $18,432. Our lowest rates are available to consumers with the best credit. Many factors are used to determine your rate, such as your credit history, application information and the term you select. We may charge a fee if your payment is late.

SoFi Low Rates. No Fees required
  • APR: 8.99-23.43%
  • Loan Term: 24-84 months
  • Min Credit Score: 680
View details
Key facts
  • Competitive rates available for good credit scores and income source
  • Access to financial advisors, private networking events, & unemployment protection
  • Flexible terms & payment options with no fees whatsoever

Read SoFi Review »

Fixed rates from 8.99% APR to 23.43% APR APR reflect the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi rate ranges are current as of 3/06/23 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. See APR examples and terms. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

LendingClub A Leading P2P Marketplace
  • APR: 8.05-35.89%
  • Loan Term: 36-60 months
  • Min Credit Score: 600
View details
Key facts
  • One of the largest P2P lending partners & investing companies
  • 15-day grace period for late fees
  • Apply in just minutes and receive competitive offers

Read LendingClub Review »

Disclaimer: A representative example of loan payment terms is as follows: you receive a loan of $13,411 for a term of 36 months, with an interest rate of 12.16% and a 5.30% origination fee of $711, for an APR of 15.99%. In this example, you will receive $12,700 and will make 36 monthly payments of $446.46. Loan amounts range from $1,000 to $40,000 and loan term lengths are 36 months or 60 months. Some amounts and term lengths may be unavailable in certain states. APR ranges from 8.05% to 35.89% and is determined at the time of application. Origination fee ranges from 3% to 6% of the loan amount. Lowest APR is available to borrowers with excellent credit. Advertised rates are subject to change without notice. Loans are made by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. LendingClub Bank is not an affiliate of [PARNTER LEGAL NAME] and is not responsible for the products and services provided by [PARNTER NICKNAME]. Loans are subject to credit approval and sufficient investor commitment before they can be funded or issued. Certain information that LendingClub Bank subsequently obtains as part of the application process (including but not limited to information in your consumer report, your income, the loan amount that your request, the purpose of your loan, and qualifying debt) will be considered and could affect your ability to obtain a loan. Loan closing is contingent on accepting all required agreements and disclosures at Lendingclub.com. “LendingClub” is a trademark of LendingClub Bank.

Supermoney Great customer service
  • APR: 4.99-35.99%
  • Loan Term: 3-84 months
  • Min Credit Score: 300
View details
Key facts
  • Get multiple real-time offers at once
  • No minimum credit score
  • Easily compare financial lenders

Read Supermoney Review »

The Annual Percentage Rates (APR), loan terms, loan amounts, origination fees and other terms provided in this website are estimated based on information you provided, data offered by partners, and publicly available information. All information is presented without warranty, and the estimated APR, terms and other features are not binding in any way. Lenders offer a range of APRs depending on your credit history, income, and other factors. Only borrowers with excellent credit qualify for the lowest rates. Your actual APR will depend on your credit score, loan amount, term, income, and credit history. All loans must be reviewed and approved by the lenders.

Upstart 4.9/5 Rating on Trustpilot
  • APR: 5.40-35.99%
  • Loan Term: 36-60 months
  • Min Credit Score: 580
View details
Key facts
  • Great for students & recent grads with no credit history
  • AI & machine learning automate the borrowing process
  • A variety of personal loan types available for your needs

Read Upstart Review »

* Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. The minimum loan amount in MA is $7,000. The minimum loan amount in Ohio is $6,000. The minimum loan amount in NM is $5,100. The minimum loan amount in GA is $3,100. ● This offer is conditioned on final approval based on our consideration and verification of financial and non-financial information. Rate and loan amount are subject to change based upon information received in your full application. This offer may be accepted only by the person identified in this offer, who is old enough to legally enter into contract for the extension of credit, a US citizen or permanent resident, and a current resident of the U.S. Duplicate offers received are void. Closing your loan is contingent on your meeting our eligibility requirements, our verification of your information, and your agreement to the terms and conditions on the www.upstart.com website. ● The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 25.79% and 36 monthly payments of $37 per $1,000 borrowed. There is no down payment and no prepayment penalty. Average APR is calculated based on 3-year rates offered in the last 1 month. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved. Loan example: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07 to a total of $10,565.2

What Is a Vacation Loan?

A vacation loan is an unsecured personal loan designed to help you pay for a trip and your holidays, such as flights, hotels, activities, and more. Travel loans can be obtained from various lenders, including banks, credit unions, and online lenders. They can cover the expenses of multiple vacations, from a beach getaway to a mountain retreat to a city break.

Finance a Vacation: All You Need to Know

If you’re planning a vacation but need a loan to cover the costs, you’re not alone. Many people rely on loans to make their dream vacations a reality. But with so many loan options, how do you choose the best one for your needs? Here are some key factors to consider when comparing loans for your travel:

Interest rate: The interest rate is the percentage of the loan amount you’ll pay in addition to the principal. A lower interest rate means lower overall costs for you. Be sure to compare the annual percentage rate (APR), which includes the interest rate and any fees, to compare the cost of the loan. The interest rate you’ll be offered for a vacation loan will depend on your credit score. Here’s a general range of what you can expect:

  • Excellent credit (740 or higher): 4% – 10% APR
  • Good credit (690-739): 10% – 16% APR
  • Fair credit (630-689): 16% – 24% APR
  • Poor credit (629 or lower): 24% or higher APR

Remember that these are just estimates, and the actual interest rate you’ll be offered may vary depending on the lender and other factors.

Fees: Some loans come with origination fees, application fees, or other charges. Make sure to compare the total cost of the loan, including fees, to get a true comparison.

Repayment terms: Vacation loans can have repayment terms ranging from a few months to a few years. Consider your budget and how long it will take to repay the loan. A longer repayment term may result in lower monthly payments, but you’ll pay more interest over time.

Credit requirements: Different lenders have different credit score requirements. If you have a lower credit score, you may have to pay a higher interest rate or not qualify for some loans. It’s a good idea to check your credit score and credit report before applying for a loan, so you know what loan options may be available.

Pros and Cons of Vacation Loans

Pros of Vacation Loans:

  1. Access to funds: A vacation loan can provide access to funds you may not have had otherwise, allowing you to take the vacation you’ve been dreaming of.
  2. Flexibility: Vacation loans can be used for a variety of travel expenses, including flights, hotels, and activities.
  3. Low-interest rates: Some lenders may offer low-interest rates on vacation loans, which can be more affordable than using a credit card to pay for your vacation.
  4. Fixed repayment period: With a vacation loan, you know exactly when the loan will be paid off, which can help you budget and plan for the future.
  5. Potential for rewards: Some lenders may offer rewards or incentives for taking out a vacation loan, such as cashback or loyalty points.

Cons of Vacation Loans:

  1. Debt: Taking out a vacation loan means adding debt to your financial obligations, which can be risky if you are already struggling with debt.
  2. Interest rates: Not all lenders offer low-interest rates on vacation loans, meaning you could pay more in interest than a credit card.
  3. Fees: Some lenders may charge fees for originating the loan or for early repayment, which can add to the cost of borrowing.
  4. Risk of default: If you are unable to repay the loan, you could risk damaging your credit score and incurring additional fees and penalties.
  5. Limited use: Travel loans can only be used for travel expenses, which means you may not have access to funds for other expenses that may arise during your vacation.

How To Finance a Vacation?

To apply for a personal loan for a vacation, you will need to take the following steps.

  • Check Your Credit Score. When you apply for any personal loan online, you need to review your credit score first through the 3 credit bureaus. Because your loan is primarily based on your credit score, knowing the score will determine what APR you will be charged.
  • Select Your Loan Type. Some companies specialize in Vacation loan funding, so it is better to go through them if you want the best rates for this loan type.
  • Get Prequalified for Vacation Loan Financing. When you choose several lending providers you like, you will need to get prequalified for your Vacation loan next. Doing so will give you the repayment details and terms for your Vacation personal loan. You can also get a lower fixed APR if you agree to shorter loan terms.
  • Compare the Lenders. After getting prequalified through different funders, you can review their loan terms and APRs and see which fits best with your lending or personal finance requirements. For a Vacation personal loan, go with a lender that offers the lowest APR and features the lowest fees over the loan term.
  • Supply the Necessary Info and Documents. When you choose a lender, you will need to provide the required loan paperwork and information for Vacation loan funding. In this case, you need to supply the following details and documents:
    • Personal Identification (Social security card, passport, or driver’s license)
    • Proof of earnings or income (W-2s, paystubs, or filed tax returns)
    • Employer information (Name of company, manager’s name, and phone number and address)
    • Proof of residence (utility bill with your name and address or a lease agreement)
  • Apply for the Loan and Start Making Payments. After you apply for a loan and start making payments, you might add some extra money to your payment each month to repay the loan faster. Doing so will make the loan repayment smoother and more manageable.


Alternatives to Vacation Loans:

  1. Save for the vacation: Instead of taking out a loan, you can save money in a separate account specifically for your vacation expenses. This can help you avoid debt and interest payments.
  2. Use a credit card: If you have a credit card with a low-interest rate or rewards program, using it to pay for your vacation expenses can be a good alternative to a vacation loan. Just be sure to pay off the balance in full before interest charges accrue.
  3. Get a part-time job: Taking on a part-time job can provide extra income to save for a vacation or pay for travel expenses without taking on debt.
  4. Borrow from family or friends: If you have a trusted family member or friend who is willing to lend you money, this can be a good alternative to a vacation loan. Just be sure to agree on repayment terms beforehand to avoid any misunderstandings.
  5. Consider a staycation: Instead of going on an expensive vacation, consider taking a staycation and exploring your local area. This can save money and still provide a fun and relaxing break.

FAQ on Vacation Loans

What is a vacation loan, and how does it work?

What are the eligibility requirements for a vacation loan?

How much can I borrow with a vacation loan?

What are the risks of taking out a vacation loan?

What should I expect to pay in interest for a vacation personal loan?