JAPA: How to Secure a Loan for Travel Expenses in Nigeria Without Getting Stuck in Debt

Have you ever seen your friends traveling abroad or even within Nigeria, posting photos from airports, sightseeing spots, or luxury hotels, and wondered how they could afford it? Maybe you’ve dreamed of attending a conference abroad, going on a honeymoon, relocating, or even taking a well-deserved vacation—but your bank account tells you to calm down.

If you’ve been putting off your travel plans because of money, you’re not alone. But here’s the real gist—there are ways to fund your travel without touching your savings or begging family and friends. The trick is knowing how to get the right travel loan that won’t leave you struggling to repay. Yes, travel loans are a thing in Nigeria, and people are using them more than you might think.

This post breaks it down for you—how to secure a loan for travel in Nigeria, where to look, what to avoid, and how to make it worth it.

What Is a Travel Loan?

Before we go further, let’s start with what a travel loan really means. A travel loan is a type of personal loan designed to cover travel-related expenses. This could include flight tickets, visa fees, accommodation, insurance, and even pocket money. Think of it as borrowing now to enjoy your trip and then paying back in bits over time.

Some banks and loan companies in Nigeria now offer this kind of loan specifically for people looking to travel for study, tourism, work, medical treatment, or events.

Who Can Apply for a Travel Loan?

Just about anyone can apply—but not everyone gets approved. Lenders usually want to see that you:

• Are at least 21 years old
• Have a steady source of income (salary or business)
• Have a bank account with regular activity
• Have a good credit history or credit score
• Can provide collateral or a guarantor (for some loans)

Some lenders are more flexible than others. While banks may demand more paperwork and time, some fintech apps and microfinance banks offer quicker options with less stress.

Documents You’ll Likely Need

Before you even approach a lender, it’s smart to gather your documents. These are the common ones most lenders will ask for:

• A valid means of identification (national ID, passport, or driver’s license)
• Bank statements (usually 3–6 months)
• Payslip or proof of income (for salary earners)
• Travel documents (visa application, flight itinerary, invitation letter, etc.)
• Proof of residence
• Employment letter or business registration (if self-employed)
• Guarantor’s details (if needed)

Having these ready can speed up the process and increase your chances of getting approved.

ALSO READ: How To Qualify For A Business Loan In Nigeria

Types of Travel Loans in Nigeria

There’s no one-size-fits-all. The kind of loan you go for depends on your purpose and your financial strength. Here are a few options:

1. Personal Loans for Travel

Most commercial banks and online lenders offer this. You simply apply for a personal loan and use it for your travel plans. Examples include loans from GTBank, Access Bank, Zenith Bank, and online platforms like Carbon, FairMoney, and Branch.

2. Study Abroad Loans

Planning to go abroad for school? Some organizations like EdFin Microfinance Bank, Access Bank Education Loan, and Fundall provide loans tailored to cover tuition, flight, and other travel-related costs.

3. Salary Advance Loans

If you’re a salary earner, this is one quick option. You can get a portion of your salary in advance and repay over a few months. While the amount may be small, it’s useful for urgent travel costs like visa fees or flight deposits.

4. Cooperative Society Loans

If you belong to a cooperative at work or in your community, you can apply for a low-interest loan through the group. The terms are usually friendly and repayment can be flexible.

5. Loan from Family or Friends (With Agreement)

This isn’t your regular “abeg borrow me” situation. It’s better to treat it formally—put the agreement in writing, state how much you’re borrowing, and when you’ll pay back. This builds trust and reduces conflict.

Where to Apply for Travel Loans in Nigeria

If you’re wondering where to start, here are some popular options:

• Banks: GTBank, Access Bank, First Bank, Zenith Bank, UBA
• Fintech Apps: Carbon, FairMoney, Renmoney, PalmCredit, Okash
• Education Loan Platforms: Fundall, EdFin MFB, Sterling Bank Eduloan
• Microfinance Banks: LAPO, AB Microfinance Bank, Nirsal MFB
• Travel Agencies: Some travel agents now partner with lenders to provide travel loans. For instance, Wakanow and Travelbeta have flexible payment plans.

Before applying, do your research. Compare interest rates, repayment periods, and processing fees.

ALSO READ: 15 Things to Consider Before Borrowing Money from Loan Apps

How Much Can You Borrow?

Loan amounts vary depending on your income, credit history, and the lender. Generally, you can borrow anywhere between N50,000 to N5 million. For study abroad, some lenders may offer even higher amounts if you can provide collateral or guarantors.

But don’t borrow more than you can afford to repay. Remember, loans are not free money.

What’s the Interest Like?

Interest rates range from 2% to 10% per month, depending on the lender. Some fintech companies offer lower rates but shorter repayment periods. Banks may offer longer repayment periods but with more conditions.

Always ask about:

• Monthly interest rate
• Processing fee
• Repayment schedule
• Penalties for late payment

Use a loan calculator to know exactly how much you’ll pay back.

Tips to Get Approved Fast

Want to improve your chances? Try these:

1. Have a clear travel plan – Know your travel purpose, costs, and timeline.
2. Maintain a healthy bank account – Regular transactions show financial stability.
3. Avoid borrowing from multiple lenders at once – It affects your credit score.
4. Use your salary account for the loan – This gives you more trust points.
5. Keep your documents complete and accurate – Mistakes delay approval.

What If You Don’t Qualify?

Don’t give up yet. If a traditional loan doesn’t work for you, consider:

• Savings and installments: Some travel agencies allow you to pay in bits over 3–6 months.
• Side hustle boost: Take up short gigs or freelance jobs to raise part of the money.
• Crowdfunding: For urgent or emotional trips (e.g. medical, funerals), friends and social media can help raise funds if you’re honest about your needs.

Traveling is no longer just for the rich. With the right travel loan, you can pack your bags and make that dream trip a reality. But don’t be in a rush—check your options, do the math, and be honest with yourself. Loans can be helpful, but only if you’re sure of how to pay them back. If you’re taking a loan for japa, relocation, or education, see it as an investment. If it’s for leisure, be sure it won’t ruin your financial life. Remember—there’s nothing wrong with borrowing to travel. Just borrow wisely.

ALSO READ: Affordable Travel Insurance for International Students from Nigeria