Holiday loan

A holiday loan is a specific type of loan designed to provide the funds for your dream holiday. In some circumstances a holiday loan can be a better option financially than paying for the holiday on a credit card.

Many people choose to use a credit card to fund their holiday and when unable to pay off the balance in full at the end of the month find themselves facing expensive interest and penalty fees. Holiday loans can save you from avoiding unnecessary fees and enable you to spread the cost of your holiday at your convenience.

Holiday loans are more common than you might think. According to a GFK survey in 2008, six per cent of all personal loans were taken out for a holiday. Typically, holiday loans are relatively low value, between £1,000- £3,000, so the lender will often the limit the repayment period on a holiday loan.

Use the Myfinances.co.uk comparison tools to compare the best deal on holiday loans.

	Derbyshire BS cuts personal loan rate to 5.1 per cent The Derbyshire Building Society has cut the rate on its personal loans between £7,500 and £10,000 to just 5.1 per cent taking it back to the top of the best-buy tables along with the Clydesdale.
	Clydesdale Bank cuts loan rates to leap to top of best-buys The Clydesdale and Yorkshire Bank has cut the rate on personal loans between £7,500 and £15,000 to 5.1 per cent beating the Tesco Bank deal to go to the top of the best-buys.
	Derbyshire BS cuts personal loan rate to 5.4 per cent The Derbyshire Building Society has cut the rate on its personal loan between £7,500 and £14,999 to 5.4 per cent matching the deal from Sainsbury’s Bank.
	Sainsbury's Bank cuts personal loan rate to 5.4 per cent Sainsbury’s Bank has cut the rate n personal loans for Nectar card holders to just 5.4 per cent for people who borrow over a one to three-year term.
	M&S Bank cuts personal loan rate to 5.8% M&S Bank has announced that it is cutting the rates on personal loans between £7,500 to £15,000 to just 5.8 per cent.