Travel plans could be as spontaneous as a sudden weekend gateway or a planned one like a family function. Whatever is the situation may be, traveling is always a stress buster. However, for a good trip, it is necessary that you enjoy it to the fullest without having to worry about funds/financials. A personal loan for travel can not only help you take care of all your expenses (flight tickets, accommodation, purchases and more) but also ensure that your hard-earned savings remain undisturbed. Despite being an unsecured form of personal loan, some banks / NBFC’s might ask for collateral in case the loan amount is significantly high.
Personal Loan for Travel Vs. Credit Card
You may question the relevance of obtaining a Travel Loan (personal loan for travel) when you already have a credit card. You can easily put your expenses on your card and pay the same in easy EMIs in 12, 18 or 24 months. Think twice before you do this. Interest rates on credit cards usually range from 24 to 36% per annum whereas the same interest rate for a personal loan starts at 13% and can go up to 24%. This implies that availing a personal loan for travel is always the right choice and lead to a lot of savings as compared to a credit card.
Availing a personal loan for travel is easy, convenient and hassle-free. The complete process is 100% online and requires minimal documentation. The loan amount is usually disbursed within 24 hours!
In this article, we have compiled a set of tips to avail a personal loan that can help you plan your travel smartly.
Consider your repayment capacity when choosing the tenure of your personal loan
Choose a shorter loan repayment tenure if you can pay a higher EMI amount on a monthly basis or a longer one if you want to keep your monthly EMI burden on the minimal. This will completely depend on your financial plans and goals.
At Finserv MARKETS, you can choose from a flexible tenure of 12- 60 months as per your convenience. Moreover, with facilities like hybrid flexi personal loan, you can withdraw as many times as you want and pre-pay your loan amount without any pre-payment / pre-closure charges
Look for lenders / financial institutions:
who have a quickest loan application process, easy eligibility criteria and simple/minimalistic documentation. This is because while you are still in the process of executing your travel plans, you would not want heavy paperwork or stringent eligibility requirements to add to your woes. A personal loan for travel with Finserv MARKETS is easy, convenient and hassle-free. The application process is completely online and requires no to minimal documentation with loan amount disbursal within 24 hours of approval.
If you are traveling for a medical emergency:
You might be uncertain about your expenses and the duration you could be away for. In such a situation, it is necessary that you are well prepared, financially and a high value instant personal loan can help you achieve the same. A personal loan comes with a quick, hassle-free and easy online process that can come to your aid at a time when you need in the most. A personal loan application can be approved within a few minutes with minimal documentation and disbursal within 24 hours. Moreover, you can avail a personal loan of up to Rs. 25 lakhs to fund all your travel needs.
Why should you avail Personal Loan for Travel with Finserv MARKETS ?
Getting a personal loan for travel with Finserv MARKETS is easier and hassle-free. This loan will take care of all the travel expenses like travel tickets, accommodation, hotel bookings and more. Let’s have a look at the benefits of availing a personal loan for travel.
Instant loan approval:
Once your documents are verified and validated, your loan application will be approved and the loan amount gets disbursed in your account.
Flexible repayment tenure:
With Bajaj Finserv Personal Loan you get a flexible repayment facility. The loan repayment tenure ranges from 12 to 60 months and repays the loan amount as per your convenience and financial capability.
Zero collateral required:
You can avail a Bajaj Finserv personal loan for travel without pledging any personal or business assets as collateral or guarantee.
High-value loan amount:
With a Bajaj Personal Loan you don’t need to wait for your savings to accumulate. You can avail of high-value travel loans that can go as high as ₹ 25 Lakh, you can plan your dream vacation without worrying about your finances.
Pre-approved offers on loan:
You can choose from pre-approved offers for the best deals. Moreover, while you are making plans for your travel online, you can also keep a track on your repayment schedule and other personal loan details through our online customer portal.
At Finserv MARKETS, our experts work around the close to offer you products that help you make smart choices when availing a Bajaj Finserv Personal Loan. What’s more? The entire process is convenient and comes with some exciting offers, custom-made for you!
Download Bajaj Finance App to enjoy wide range of product offerings like Bajaj Finserv Loans, Bajaj Allianz Insurance, Cards, Investments & UPI Payments.
Read more on Things That May Come in Handy While Traveling Abroad
Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.