Jetting off around the world or staying closer to home? Whatever plans you have, a holiday loan could help you have the trip of a lifetime.
What is a holiday loan?
- A holiday loan is just a personal loan that you can use to pay for your holiday or going travelling. This means you can spread the cost of your trip with fixed monthly payments.
- Halifax current account holders can apply for £1,000 - £35,000 (between £1,000 and £25,000 if you don’t have a Halifax current account).
Learn more about our Personal Loans.
3.5% APR representative for loans of £7,500 to £25,000 over 1 to 5 years
There’s a lot to think about when planning a holiday or going travelling. Here are few points to consider…
Apply for a holiday loan
With Halifax it's easy to apply for a holiday loan. The decision whether to offer you a loan, the amount we’ll lend you and the interest rate will all be based on an assessment of your individual circumstances. If you hold a Halifax current account, in most cases we’ll tell you how much you can borrow and if you’re likely to be approved when you get your quote. This won’t affect your credit score. Check out how it works for existing and new customers:
Why choose Halifax?
- Instant decision - Apply in minutes and get an instant decision on your loan when you apply online
- Repayment holidays - Ask for up to two repayment holidays a year (subject to approval). Interest will be charged for the months you don’t make any payments. This means you'll pay more interest overall and your original term will be extended.
- Quick access to your loan - If you have a Halifax bank account, if approved you could have the money in your account in minutes. If you don't have a Halifax bank account, if approved, you should get the money within 24 hours (no more than 5 working days).
Frequently asked questions
You can apply for a holiday loan if:
- You’re aged 18 or over and live in the UK (excluding the Channel Islands and Isle of Man).
- You’re in paid employment or have regular income.
- You’re not a full time student.
- You haven’t had a request for credit declined in the past month.
- You don’t have a history of bad credit such as bankruptcy or CCJs.
That depends on a number of factors. What kind of holiday do you want? How much can you afford to pay up front? How much can you afford to pay back in monthly instalments?
A loan can help you to spread the cost of your trip away but you’ll probably pay interest on it. This means it’ll cost you more overall. You have to decide if the cost of the interest is worth the convenience of paying in fixed monthly instalments.
You can use our loan calculator to get an idea of what your monthly repayments may look like.
If you do want to borrow money to help pay for your wedding, there are many options available, such as credit cards and overdrafts. It’s important to choose the one that suits you best. View our borrowing options.
You can use our holiday loans to pay for just about any aspect of your trip, from the flights to the accommodation and everything in between. However, as our holiday loans are just personal loans, you don’t actually have to use it for your holiday if you don’t need to. Once you have the money, you can use it for just about anything, but there are some restrictions. We can’t give you a loan for:
- Any illegal activity.
- Speculative purchases, e.g. gambling, investments and share purchases.
- Business related purposes.
- The purchase or lease of land or property, either in full or in part. This includes deposits.
- Timeshares/holiday clubs.
These limits apply whether you want to borrow money for yourself, or to support someone else. For example, you can’t take out a loan and give it to someone as a deposit for a house.
If you get a personalised quote then we don’t do any credit checks, which means you’re credit score won’t be affected.
However, if you go ahead and apply for a wedding loan, we’ll perform a credit check. This is to help us understand if you’re likely to have any issues paying the loan back.
Basically, the interest helps to work out the cost of borrowing money. We look at lots of things when working out your interest rate, such as
- Credit history
- Past account history
- How much you want to borrow
- How long you want to repay the loan over
- Other personal details we hold
The interest is added on to your monthly repayments and is fixed for as long as you have the loan.
When you apply, we’ll tell you how much your monthly repayments will be – this is a fixed amount that won’t change. We’ll start taking the payments by Direct Debit the month after you apply – you can choose a date that suits you and change it if you need to.
If you want to, you can make extra payments with no charge. However, if you pay the loan off early, we may charge you up to 58 days’ interest.
If you miss a payment then we’ll try and take it again within 7 days. If we still can’t take payment then we will charge you £25. You may be charged further if you miss more payments. Full details will be provided when you apply.
Lending and rate are subject to status. Available to UK residents aged 18+.
Loans are provided by Halifax. Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ.