Everyone aspires to go to their dream destination to unwind from the everyday stress of their lives. Holidays are meant to enjoy to the fullest, whether travelling solo or with family or friends. But arranging funds for a holiday can get a little taxing. A Personal Loan for travel can be helpful in this case.
A Personal Loan is an unsecured loan granted to an individual in the short to medium term. Financial needs such as wedding expenses, unexpected medical costs, home renovation, or vacation are the common causes for which one seeks to avail of a Personal Loan. Flexibility while using, minimal required documentation, and quick processing and sanctioning make Personal Loans a preferred financing option.
Why taking Personal Loan for travel is a good choice?
Any trip requires a lot of research and financial planning. No matter how you plan your budget, your expenditure may exceed your expectations, particularly for an overseas trip. Various expenses such as flight tickets, hotel bookings, transportation, food, travel insurance, mobile phone bills, and visa application fees may add up to form a hefty amount which may seem overwhelming. Fortunately, with the emergence of an array of borrowing options available in the market, you can effortlessly embark on your dream destination. You are no longer required to save for years to go on a vacation. A Personal Loan for travel can help you fulfil all your holiday dreams!
Moreover, a Personal Loan for travel is quick, easy, hassle-free, and requires minimal documentation. With a Personal Loan, the only thing you need to think and plan about is whether you want to enjoy the backwaters of Kerala or bask in the calmness of the Alps; soothe your soul in the lap of the Himalayas or experience the vividity of other continents. A Personal Loan is essentially an unsecured loan and does not require any collateral or guarantor as a part of the approval process. Therefore, the worries regarding collateral vanish in the first place.
You might say using a credit card for your holiday expenses is better than a Personal Loan. But before indulging in such comparison, you must remember that interest rates for credit cards may be as high as 24 to 36% per annum in contrast to a Personal Loan interest that starts from 13%. A Personal Loan will allow you to save more than credit cards.
Moreover, by taking out a Personal Loan for travel, you can meet these costs even if you don’t have the required funds in your savings bank account. In addition, you can pay back the loan in Equated Monthly Instalments (EMIs) spread over a tenure of your choice.
Features of a Personal Loan
- Applying for a Personal Loan is quick, easy, and hassle-free; the same is disbursed within 24 hours post-approval.
- Once you fulfil the eligibility criteria, the loan application gets approved within minutes.
- As a citizen of India, if you are a salaried person within the age limit of 22-58, you are eligible for a Personal Loan.
- You can apply for the loan by filling out the application form and providing your loan amount and tenure.
- There are no hidden charges or fees, and you can access all your documents just by logging in to the dedicated customer portal.
Here are some advantages and benefits of availing of a Personal Loan for travel:
- Easy online process.
- Untouched Investments: You can go on a vacation without disturbing your long-term investments, like fixed deposits.
- Unsecured Loan: No need to produce any collateral to avail of a Personal Loan for vacations.
- Quick approval and instant disbursal.
- Attractive interest rate: A Personal Loan interest is usually low.
- Minimal paperwork: Basic-level documents are needed.
- Flexible repayment tenure: You can customise your payment schedule at your convenience.
- No hidden costs: No costs in the implicit form are incurred.
The parameters that determine your eligibility criteria for Personal Loans for travel are:
- Work Experience
- Monthly Income
- Employer Category
- Good Credit Score
Apply for a Personal Loan today and turn your dreams into reality!