With the holiday season approaching, it’s time you plan a dream vacation with your friends, family or spouse. Whether you choose an exotic destination overseas or prefer to explore the wonders of India, personal loans for travel are available to finance your trip conveniently.
Unsecured personal loans allow you to borrow a high amount from lending institutions and utilize the same without any restriction. Moreover, these advances incur comparatively lower interest rates, thereby, minimizing your financial burden.
In case you’re still unsure, here are more reasons why you should consider personal loans for travel.
- Meet all your travel-related financial needs.
Travel expenses comprise a lot of things – hotel booking, flight tickets, baggage charges, food and drinks, sight-seeing, transportation costs, shopping, emergency funds, foreign transaction fees, and more.
Since travel loans come with high amounts of up to Rs. 25 lakh, you can strategically utilise the funds to cover all your expenditures.
- Receive instant personal loan easily.
If you immediately need funds to make all the bookings, etc., these advances are the way to go. NBFCs nowadays offer instant personal loan easily without much hassle.
Moreover, NBFCs like Bajaj Finserv also come with pre-approved offers not only on personal loans but also on mortgage loans, business loans, and a host of other financial products and services. These offers make availing funds less complicated and more time-saving. You can instantly check your pre-approved offer by submitting only the necessary details.
You can also avail loan approval in 5 minutes and part-prepayment facility. These enable you to receive instant cash within 24 hours, and part prepays when you have a surplus.
- Repay throughout a convenient tenor after coming back.
Personal loans offered by leading financial institutions usually have flexible repayment tenors. So, you can enjoy your vacation to the fullest and repay suitably once you come back home.
- Go through a less complicated documentation process
It’s a common notion that loans involve lengthy processes of documentation. However, you will go through a less complicated procedure if you approach an NBFC. These financial organizations sanction the advances with only the essential documentation. This includes –
- Your KYC documents
- Salary slips, preferably of last 2 months
- Statements of your salary account
- Your employee identity card
Note: You must check your eligibility before applying for a personal loan for travel to initiate faster processing.
- Ideal alternatives to credit cards.
Most people consider using credit cards to meet their short-term travel expenses. However, the truth is, personals loans are a better alternative to credit cards for many reasons.
- Credit cards incur higher interest rates than personal loans.
- Their credit limit is often lesser (hence, insufficient) than the unsecured travel loans.
- Processing fees are nominal in personal loans, compared to credit cards.
- Last but not least, credit cards involve the hassle of activation for international travels.
Hence, it’s quite clear why personal loan for travel is an appropriate choice to finance your dream vacation. So, plan your trip today, create your budget, and apply for the credit online.