In today’s fast paced world, travelling seems to be to the only respite from the mundane and stressful daily routine. But unfortunately, travel also comes with its own set of costs. We may carve out the most budget friendly travel plan for ourselves but it still comes with some additional expenses. In case, a sudden expense arises just before the vacation and there is scarcity of cash, one can always go for a travel loan.
What is a Travel Loan?
A travel loan is a category of personal loans designed only to cater to your travelling expenses. Travelling involves spending money on airfare, lodging, food and other miscellaneous expenses – a travel loan covers it all!
How to avail a Travel Loan?
A travel loan can be easily avail through a bank or non-bank financial company (NBFC) that caters to travel loans under personal loan.
Can you get a Travel Loan?
Yes, you can get a travel loan if you fulfill the following Criteria:
- You must be a citizen of India.
- You must be a salaried employee.
- You should be in the age range of 23 -58 to avail a vacation loan.
How does a travel loan work?
A travel loan is an unsecured personal loan tailor-made for travel needs. This loan does not require any collateral, hence, it is an unsecured loan. The average maximum limit of travel loan is 25 lakhsthe repayment tenure is optional as per the borrower and no third party is involved.
How fast can one get a travel loan?
A travel loan can be acquired instantly, one can either visit the website or the mobile application of the desired lender, submit the details and upload the documents online OR personally visit the branch and overlook the entire application process. The approval follows in no time, the loan gets disbursed and the money is released directly into the borrower’s account.
Benefits of travel loan
A travel loan is a better option than credit card, as using a credit card could exceed the maximum limit.
The application process is fast and doesn’t have much complexities attached to it.
Money is also released quickly once approved.
There is no burden for an additional travelling savings account.
A decent amount gives the borrower the freedom to travel to any destination of their choice.
Repayment of Travel Loan
The repayment of the loan totally depends on the borrower’s capacity. Before applying for a loan, one should always calculate the EMI, rate of interest and duration of the loan. Once all of the factors are taken into consideration, then he/she can go ahead take a travel loan and repay in equal and suitable monthly instalments.
With Finserv MARKETS, applying for a Bajaj Finserv Personal Loan for travel is easy, quick and completely hassle-free. What’s more? Your personal loan comes with a plethora of features and benefits that you can avail right from the comfort of your home. So why wait? Head over to Finserv MARKETS and apply for a personal loan with us, today!
Read about benefits of buying a Travel Insurance and how it can help you travel worry free.
Also learn how a Personal loan can take care of your holiday expense.
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!