Planning a long-awaited trip? Get away with a holiday loan.
Benefits of a holiday loan
If there’s somewhere (or someone) you want to visit a long way away, it could take a long time to save the money to travel. A personal loan could be an affordable way to fast-track your plans.
You choose the loan amount and how long you want to borrow for. With fixed monthly payments you’ll always know where you stand.
With MBNA you can apply for a holiday and travel loan online and get a decision within 10 minutes – so you’re not left waiting too long to see what you can borrow. Once the money is in your account, you can start booking flights, accommodation and any plans you might have for your dream destination.
2.8% APR representative for loans of £7,500 to £15,000 over 1 to 5 years.
MBNA personal loans are provided exclusively by Lloyds Bank plc. MBNA Limited act as a credit broker and not the lender.
Planning your holiday in advance could help keep costs down. Here are some ideas how:
Once you’ve decided where to go, you’ll need to find somewhere to stay. If you’re spending most of your time out and about, it might not be worth going for a luxury hotel. Consider:
- Hostels or cheaper hotels.
- Sharing with friends to cut costs.
- Going self-catering, so you’re not eating at restaurants every night.
Shop around online, read reviews and book early if you find a good deal. The same goes for flights (or boats if they float yours).
Set a budget
To avoid ATM charges abroad, make sure you sort your travel money before you leave.
You can shop around online to find the best exchange rates. To help you keep track of spending, it might be an idea to set a daily budget in advance.
Of course you want to have fun, but you don’t want a headache to come home to.
Apply for a holiday loan
As with any loan, when you apply there will need to be checks about your personal situation. These checks will affect the decision whether to offer you a loan. The loan amount and the interest rate you'll be offered will also be based on these checks.
How it works when you apply for an MBNA personal loan:
- You can apply for between £1,000 to £25,000.
- Choose to make your monthly repayments over 1 to 7 years.
- It takes about 10 minutes to apply online and get a decision.
- If you’re approved, you should have the money in your account within 24 hours. In some cases it may take a bit longer to have the money in your account - but no more than 5 working days.
You could borrow £10,000 over 48 months with 48 monthly repayments of £220.30. Total amount repayable will be £10,574.40. Representative 2.8% APR, annual interest rate (fixed) 2.76%.
The representative APR applies to loans of £7,500 to £15,000 over 1 to 5 years. Other terms and loan amounts are available at different rates. The maximum APR you could be offered is 29.9% APR.
The representative APR is the rate that at least 51% of people are expected to receive when taking out a loan within the stated amount and term range.