Loans for Travel in the Philippines: When and Where to Apply for One

Is it possible to obtain a loan for traveling or for a trip abroad? The idea may evoke a mix of excitement and apprehension. Loans for Travel in the Philippines: When and Where to Apply for One

While it is possible to borrow money to travel and visit your dream destination, the thought of accruing uncontrollable debt can be daunting.

If you need financial assistance to fund your travel, seeking help from a lender may be a viable option, especially if your trip is urgent. A travel loan in the Philippines can also be a good choice if you want to avoid tapping into your long-term savings or if you only require a small amount to supplement your existing budget.

To help you understand travel loans in the Philippines, we have compiled a guide and some recommendations for where you can apply for one.

What is a Travel Loan?


A travel loan offered in the Philippines is a type of personal loan that you can use to finance your travel expenses. It’s designed to help you cover various costs related to your trip, such as airfare, lodging, and tour packages, among others.

Typically, a travel loan falls under the category of unsecured personal loans, which means that you don’t need to provide any form of collateral to apply for it.

What is the Difference Between a Travel Loan and a Travel Assistance Loan?

“A travel assistance loan is a distinctive form of personal loan intended for travelers who need to meet their visa application or demonstrate financial requirements, also referred to as a Bank Certificate or Proof of Funds loan.

Certain countries demand evidence that you possess sufficient funds to travel. If you encounter difficulty in this aspect, a travel assistance loan can be extremely beneficial.”

Which Bank Offers the Best Loans for Travel?

Are you searching for the top travel loans available in the Philippines? You may visit any bank that provides personal loans, but it’s important to verify if they permit travel as a valid loan purpose.

Listed below are a few banks that offer excellent travel loans:


  • Loan amount: ₱20,000 to ₱1 million
  • Interest rate: 1.25% to 1.75% per month (25.976% annual contractual rate)

Loan term: 12 to 36 monthsMetrobank provides low-interest loans for individuals who wish to travel overseas. If you have an upcoming trip and require financial assistance, there’s no need to fret because Metrobank can process your application in as little as seven business days. All you need to do is prepare a Signed Promissory Note and Disclosure Statement (PNDS), along with a valid government-issued ID. After filling out the online application form, wait for a call from Metrobank to complete the process.

🎁 Get Freebies with Your Successful Metrobank Personal Loan Application


If you require funds for various purposes such as paying for medical expenses, starting a business, consolidating debt, or financing home renovations, you can consider taking a personal loan from Metrobank. By applying through Moneymax and getting approved, you will have the option to choose between two rewards: ₱5,000 GCash or JBL Live 460NC headphones worth ₱6,999.

It is important to note that certain terms and conditions apply, and this promotion is only valid until April 19, 2023. Hence, it is advisable to act quickly and apply soon.

📌 Citibank


  • Loan amount: Up to ₱2 million
  • Interest rate: 1.29% per month (26.9% annual contractual rate)
    • Loan amount: ₱25,000 to ₱2 million
    • Interest rates: 
      • 1.49% to 1.69% per month (with a credit card for at least 12 months)
      • 1.89% (without a credit card or with a credit card for less than 12 months)

EastWest Bank offers a collateral-free loan for travel expenses, which can cover the cost of flights or accommodations with a minimum amount of ₱25,000. If you’re planning a larger trip with your family to Asia or Europe, you can borrow up to ₱2 million.It’s important to note that the interest rate for this loan will vary based on the loan term and credit card ownership. If you have a 12-month loan term and have owned a credit card for at least 12 months, you will only need to pay an interest rate of up to 1.69% per month. However, if you don’t have a credit card or have had one for less than a year, you will need to pay a higher interest rate of 1.89% per month for the same loan term.

📌 PSBank

  • Loan amount: ₱20,000 to ₱250,000
  • Interest rate: 1.75% per month (for term loan)
  • Loan term: 24 to 36 months

If you’re searching for a loan that offers rewards, you might want to consider PSBank’s Flexi Personal Loan with Prime Rebate. This loan is unique because it doesn’t require any collateral and provides a revolving credit line as well as a fixed-term loan feature.

Essentially, this loan works like a credit card, but with a much lower interest rate. Depending on the amount you’ve repaid, you may be able to borrow more or less.

What’s more, this loan includes a rebate program that can save you money every time you make advanced or excess payments, making it a great option for travel financing.

📌 CIMB Bank

  • Loan amount: ₱30,000 to ₱1 million
  • Interest rate: 1.12 to 1.95% per month
  • Loan term: 12 to 60 months 

CIMB Bank provides a personal loan designed for travel purposes that can be utilized for your vacation or unforeseen trips. Among the options available, this product features one of the most affordable monthly add-on rates.

You have the option to borrow up to ₱1 million and receive immediate disbursement to your CIMB Bank savings account or other bank accounts within one to two banking days.

You may easily apply for this travel loan through the CIMB app.

Where Can I Apply for a Travel Assistance Loan?

Typically, private lenders are the ones who offer travel assistance loans in the Philippines. However, some travel agencies and tour operators also provide this type of loan to their clients. It is advisable to check with your local travel agency, particularly if you are applying for a visa, for added convenience.

What to Consider When Applying for a Loan for Travel

“Obtaining a travel loan creates a financial commitment, and to ensure responsible management, it is essential to reflect on the following queries before commencing the loan application process:”

How Much Does My Trip Cost?

Determine the total cost of your trip by including all necessary expenses such as airfare, accommodations, tours, and shopping. Try to cut expenses where possible by selecting budget-friendly hostels instead of pricey three-star hotels. Ensure that your travel budget is reasonable and within your means based on your income. After setting a reasonable budget, assess your current funds to determine how much you need to borrow. To calculate this, subtract your available travel funds from your budget. This approach will help you avoid borrowing more money than necessary and managing more debt than you can handle. However, if the difference between your budget and available funds can be saved up in a few weeks or months before your travel date, then getting a loan may not be necessary. Saving up is a better option in this scenario since you won’t have to worry about paying interest on top of the loan amount.

Can I Afford to Pay Off a Travel Loan?

To determine whether borrowing money for travel is necessary, it’s important to evaluate your income, expenses, and any outstanding debts or credit card balances. It’s crucial to determine if you can comfortably afford to make monthly payments on a travel loan for a specific number of years, without exceeding 30% of your monthly income. Additionally, it’s important to assess your savings. It’s not recommended to dip into your emergency fund for leisure travel unless it’s for an urgent or unforeseeable reason, such as visiting a sick family member abroad. If you can’t afford a desired trip without taking out a loan, it may be wise to postpone until you can save up enough money to cover the costs. However, if you have a solid plan to repay the travel loan and can comfortably afford it, borrowing money for travel may be a viable option. Overall, it’s crucial to carefully evaluate your financial situation and make a thoughtful decision regarding borrowing money for travel.

Is My Travel Purpose Worth Borrowing Money For?

To put it differently, taking out a loan for travel doesn’t have a clear financial benefit like borrowing money for starting a business, purchasing a car, or constructing a home. Unless the purpose of the travel is for business, it’s unlikely that you’ll make more money from traveling compared to running a profitable business, owning a car, or renting out a property.

However, traveling can provide intangible and immeasurable advantages. For instance, individuals who wish to immigrate can finally reunite with their loved ones residing in other countries. Entrepreneurs can learn the best practices in their industry by observing how other countries operate. Professionals can improve their skills and advance their careers by studying abroad. Tourists can experience different cultures and create unforgettable memories with their families.

In any of these situations, taking out a loan for travel can be considered good debt because it provides something valuable in return. However, it’s essential to ensure that the long-term costs such as personal loan fees and interest payments are worthwhile for your purpose of traveling.

Which is Better: a Travel Loan or a Travel Credit Card?

Financing our travel doesn’t necessarily mean taking out a loan. If you travel frequently, consider using your current credit card while on your trip. You can save even more money by using a dual-currency credit card or one with no foreign transaction fees.

To determine which option is best for you, compare personal loans and credit cards. Travel loans typically have lower interest rates than credit cards, and they offer fixed monthly repayment schedules.

On the other hand, travel credit cards offer a range of money-saving benefits like air miles, rebates, travel insurance, purchase protection, and other perks that are not available with travel loans. Additionally, carrying a credit card is safer than carrying cash, and you only have to repay what you use.

Final Thoughts

It’s crucial to make a wise decision when considering taking out a loan to finance your travels. You wouldn’t want to face years of struggling to repay your loan after enjoying just a two-week vacation abroad. Therefore, it’s essential to conduct thorough research and compare your loan options beforehand. By doing so, you can fulfill your travel aspirations without putting yourself in financial jeopardy.

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