At Spotter Finance we get a lot of requests for holiday loans. In fact, at the time of writing this article approximately 10 per cent of the loans that we have approved are for holiday loans or holiday purposes.

Holidays can be a stress reliever, however, Australian’s tend to holiday less than other citizens due to the significant distances required to travel to get to various destinations. Europe is not on our doorstep!

At Spotter finance we offer:

  • Loans typically between $500 and $15,000 for holidays
  • Loans to those with impaired credit files
  • Loans typically settle within a day of you getting all the relevant information to us

It’s important to understand that if you have decided to get a holiday loan there may be other cheaper cost of funding options that are available to you, if you can’t fund the holiday out of your savings. For example, you could try a credit card with an interest free period or a low interest rate, or a personal loan through a bank. However, if cheaper options are not available, then we will be happy to consider your application to see if we can assist. Here are some helpful tips when applying.

What if I have a bad credit rating?

A bad credit rating will not immediately disqualify you from receiving a loan from us. We understand that the applicants we get sometimes have impaired credit files. We will evaluate on a case-by-case basis.

What rates will I get?

The cost of finance will vary from applicant to applicant based on your individual circumstance, including the amount you are looking to borrow and your credit rating. However, lending in Australia is regulated. There is a lending example at the bottom of this page that show you the maximum rates.

If you are looking to reduce your rate, then sometimes offering security (such as a car) can help. Mention that to our loan assessors to see what’s possible if that’s something of interest to you.

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Here's what a loan might look like

Here's what a small loan might look like...

You're after a loan for $1,000 for medical or dental bills. Your are looking to repay the loan back after 6 months and are happy to make fortnightly payments.

Here's what a medium loan might look like...

You're after a loan for car repairs for $2,500 and are looking to make payments back on a weekly basis over 2 years.

Small Loan Example


Loan Amount

  • 13XRepayments
  • $110.77=Per Fortnight
  • $1,440.00Total Payments
Loan length:26 weeks

Medium Loan Example


Loan Amount

  • 104XRepayments
  • $43.19=Per Week
  • $4,490.88Total Payments
Loan length:104 weeks

In the above example You'll pay:

  • Loan Amount Financed:$1,000
  • Establishment Fee:$200(set by NCCP at 20% of the loan amount)
  • Monthly Permitted Fee:$40per month charged on the anniversary of the loan
  • Amount of Credit of the Loan:$1,240
  • Total Amount of Interest Payable:NIL
  • Direct Debit Fees:$25.74($0.99 per transaction)
  • Total amount of repayments:$1,440.00
  • Nominal Percentage Rate (Interest) per annum:0% as defined by NCCP
  • Comparison Rate: 160.0571% as defined by NCCP

In the above example You'll pay:

  • Loan Amount Financed:$2,500
  • Establishment fee:$400(Set by NCCP)
  • Amount of Credit of the Loan:$2,900
  • Total Amount of Interest Payable:1,590.86
  • Repayments:103 x $43.19 + $42.31(a final payment)
  • Total amount of repayments:$4,490.88
  • Nominal Percentage Rate (Interest) per annum:48% as defined by NCCP
  • Comparison Rate: 65.5138% as defined by NCCP

WARNING: This comparison rate is accurate and applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

See our fullFee Statement for fee details.

"These examples are provided for illustrative purposes only. They do not represent an offer from Rate Detective Pty Ltd. A Spotter Loan is subject to the completion of an application, which is subject to responsible lending checks that take your personal needs and financial circumstances into account."

For loans under $2000 the minimum repayment term 90 days, maximum repayment term 12 months.