Holiday loans can make your travel fantasies come true. A travel loan is providing you with enough financial windfall to travel through the island or overseas without needing to wait for non-travelers to move out with you-and all these under the auspices of a perfect little holiday loan.
What is a holiday loan?
A holiday loan would be an individual loan for the purpose of vacation-related expenditure. It might be for ticket prices, hotel accommodation, local travel, and sightseeing expenses, all that will be easily handled with a travel loan in India.
Travel loan advantages
Here are some benefits of travel loan:
No need to dig into savings
Fixed EMI to avoid any budgeting hassle
Fast disbursals with minimum paperwork
Unsecured loan, no collateral needed
Many lenders today offer instant travel loans that are approved within a few hours so that the last-minute travel plans can be arranged without a hassle of finances.
Travel Loan Interest Rate in India
Per annum travel loan interest rate is usually between 10-24% depending on the borrower’s credit score, amount of loan, and the tenure he applies. So, before taking a loan, compare the rates provided by various banks and NBFCs because they are offering very competitive rates.
Who may apply?
Any individual having a source of regular income, whether salaried or self-employed, can apply for a personal travel loan. Further, the applicants must be in the age group of between 21-60 years and should have a good credit score.
How to Apply a Travel Loan in India?
The process is simple to apply for a travel loan in India:
1. Choose a trusted lender or avail online loan marketplaces.
2. Fill in the application based on personal details and income-related information.
3. Upload documents that will be needed (ID proof, address proof, income proof).
4. Receive quick approval and instant disbursal to your bank account.
Conclusion
Holiday loans are a prudent and flexible way to finance your next trip. Whether for a family trip or a solo getaway, a personal travel loan helps you enjoy it all without worrying about finances. Just plan your repayments wisely and choose a lender with the best travel loan interest rates so that you can make any more of your trip.
