Here’s How a Personal Loan Can Take Care of Your Vacations

Apply for a Personal Loan

Everyone aspires to go on their dream vacation and 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 can be of help in this case. 

A Personal Loan is an unsecured loan granted to an individual in short to medium term. Financial needs such as wedding expenses, unexpected medical costs, home renovation, or a 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 is choosing a Personal Loan for travel Good?

Any trip requires a lot of research and financial planning. No matter how tightly you plan your budget, your expenditure may exceed your expectations, particularly for an overseas trip. Various expenses such as the expenditure on flight tickets, booking hotels, transportation, food, travel insurance, cell 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 destinations. 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 are extinguished in the first place.

One might say that using a credit card for your holiday expenses is as opposed to a Personal Loan. But before indulging in such comparison, one 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 Online 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 23-58, 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

The following points enlist some significant advantages and benefits of availing of a Personal Loan for travel:

  • Easy online process
  • Untouched Investments: one can go on a vacation without putting one’s hand in 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 rate of interest: A Personal Loan interest is usually low.
  • Minimal paperwork required: Basic-level documents are needed.
  • Flexible repayment tenure: One can customize one’s payment schedule at convenience.
  • No hidden costs: No costs in the implicit form are incurred.
  • Doorstep services

The parameters that determine your eligibility criteria for Personal Loans for travel are:

  • Age
  • Citizenship
  • Work Experience
  • Monthly Income
  • Employer Category

A good Credit Score 

So freely fantasise about going on a vacation to their dream destinations. Apply for a Personal Loan today and making your dreams a reality!

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