Holiday loans
A holiday loan is a personal loan that you can use to pay for your holiday or travel plans. It could help spread the cost for things like flights and accommodation.
Why choose Lloyds Bank?
Get a quote in minutes
Log on to Internet Banking to get a personalised quote.
- Tell us how much you want to borrow and over how long to get a quote in minutes.
- This won't affect your credit score.
- If you go on to apply, you’ll get an instant loan decision online.
Frequently asked questions
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Using a loan to pay for your holiday depends on your individual circumstances. Will you be able to afford to pay the loan back, taking into account any interest and fees? Would another borrowing option be cheaper or more suitable for you?
Use our loan calculator to get an idea of what your monthly repayments may look like. You can also get a personalised quote by logging onto Internet Banking.
Uually, the cheapest way of paying for a holiday is by saving up as much as you can afford to before you leave. This may mean you need to borrow less, or not at all.
If you do want to borrow money to help pay for your holiday, there are other options available. It is important to choose the one that suits your needs. View our borrowing options or learn more about the ways you can pay for a holiday.
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A holiday loan is a personal loan you can use to pay for a holiday. So when the money is in your account, you can use it for things such as flights, hotels or transfers.
However, there are some things you cannot use a personal loan for.
We cannot issue loans 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 cannot take out a loan and give it to someone as a deposit for a house.
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Getting a personalised quote with us does not use a credit check or affect your credit score.
When you apply for a holiday loan, we will perform a credit check. This is to help us understand how likely you are to pay the loan back. Learn more about how credit checks work.
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We look at lots of things when calculating your interest rate. When you apply, we will give you a personalised quote based on many factors, 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.
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You will start to repay the loan the month after you take it out - you can specify which date each month the repayment comes out.
You can change this date in the future if you need to. The repayments will be taken each month by Direct Debit.
The repayments are fixed so they will not change until the loan is paid off.
If you miss a repayment (e.g. if there is not enough money in your account), we will try once more to take it by Direct Debit within 7 days. If we are still unable to take your repayment, you will be charged a £25 fee. Full details will be provided when you apply.
You can make additional payments with no charge. However, if you pay the loan off early, we may charge you up to 58 days’ interest – but you are still likely to save on interest payments overall.
Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).
How much we lend and the rate available are subject to our assessment of your circumstances. You must be 18 years of age or over and a UK resident. You must have had a Lloyds Bank current account for at least one month.