Holidays are the best time to bond with family. The memories that are created during a holiday last for a lifetime. Planning a holiday takes a lot of time and effort and so does arranging for the money. Even though it is advisable to start saving for the trip well in advance, the money could get spent on something else just before the trip. In such a situation, one can opt for a personal loan rather than cancelling the entire trip. A personal loan will cover your entire trip’s expenses and more in case of a scarcity.
What is a personal loan?
A personal loan is the fastest category of loan that is availed without any collaterals and is given to you based on your credit score. Because of it’s quick and hassle-free nature it is favoured for travel purposes. A personal loan can take care of all your holiday related expenses like, fares, tour packages, travel gears, sightseeing, visa fees, etc.
The application process of a personal loan is easy too. It is applied online and you have to provide basic details like income, employment details and KYC documents. If you’re eligible the loan gets processed within a day and is disbursed into your account within 72 hours.
Why is personal loan considered apt for travellers?
- The loan disbursement is almost instant and you won’t have to delay your trip waiting for the money.
- Personal loan has flexible repayment options suiting your income flow.
- Personal loan is unsecured which means they do not require any collaterals or a long list of documents.
- Personal loan’s repayment period ranges from 12 to 60 months.
The above-mentioned points are the reason why personal loans are so popular among travellers and people otherwise.
However, even though personal loans give you the financial relief that you need before a holiday. You should keep in mind the following points before availing a loan:
- Evaluate your repayment capacity, borrow only if you can repay.
- Do a thorough research on all kinds of lenders that are there in the market and what perks do they offer. Both banking and non-banking institutions should be considered.
- Ensure you have steady source of income to repay the EMIs.
- Opt for a lender who directly transfers the loan amount into your account.
- Check your credit score before applying for a loan. A higher credit score will automatically qualify you for a bigger loan.
- Choose a repayment option and tenure that won’t affect your other monthly expenses.
After you have carefully evaluated all the points and planned your repayment. You can go ahead and apply for a loan without cancelling your holiday plans.
So, what are you waiting for? Planning your dream vacation? Choose Finserv Markets and benefit from the features like quick disbursement, low EMI, minimal documentations and a list of other features. What’s more? Your online personal loan application can be approved under just 3 minutes and the loan amount will be credited to your bank account within 24 hours! Apply for Bajaj Finserv Personal Loan with us, today!
Finserv Markets, from the house of Bajaj Finserv is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment and exclusive EMI store, all under one roof- anytime, anywhere!