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Various Funding Options Available For Your Dream Vacation

By Finserv MARKETS - Jan 30,2020
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Various Funding Options Available For Your Dream Vacation

After several months or years of tireless work and hectic schedules, it can be beneficial to then unwind with a hard-earned vacation. Most of us tend to have certain holiday spots already marked on our to-visit lists, and planning one’s dream vacation can be an exciting experience in itself. But often, all that remains to make this dream vacation a reality are the necessary funds.

Regardless, people across the country are figuring out ways to fund their vacation and travelling more than ever before. As a matter of fact, a report by the UN World Tourism Organisation stated that last year, as many as 50 million Indian tourists traveled abroad.

This is proof that funding your dream vacation does not need to remain a distant dream. In fact, there are a variety of funding options that you too can make the most of to make your travel goals a reality.

1. Dedicated Vacation Account

One way to fund your dream vacation is to set up a savings account dedicated to only this purpose. With this option, you will have to make sure you set some funds aside every week or month to contribute to your final travel budget. You can even set up an automatic transfer to this vacation account so that with every paycheck, a certain amount is directed to this purpose.

Funding Options Available For Your Vacation

Source: National Debt Relief

2. Using Bonuses

Another strategy is to collect any extra sources of money that you might get your hands on and put them in a dream vacation fund. This could be in the form of the annual bonuses you receive at work. However, you will require a lot of patience since depending on your vacation goals, this might take some time.

3. Cutting Costs

To fund your dream vacation, you can also try living below your means till you save up to reach your vacation budget. This means cutting costs wherever possible, be it groceries, eating out, transportation and entertainment.

Personal Loan for Travel

However, it is possible that none of these methods seem particularly appealing or achievable to you. You might also not be in favour of waiting for months or years to accumulate funds for your dream vacation. In such a case, you can opt for the funding option that Indians today are increasingly going for – travel loans.

Infographics on Demand for Travel Loans

Source: the Times of India

While vacation loans would have been unthinkable at one point of time, travel loans today have become so convenient and efficient that it has become a popular means of funding holidays across the country.

Recent data indicate that the demand for travel loans has grown by 60 to 65% in the last year alone [2]. This is partly due to the new generation’s efforts to fulfill their travel aspirations, and partly due to the increasingly efficient means of availing and disbursing loans today. Millennials, in particular, are looking to travel loans to tick off their travel bucket list. As per reports from an online lending platform, 85% of travel loan applicants are, in fact, millennials.

Not only are these vacation loans easily disbursed, but they also provide immense flexibility when it comes to repayment. Not to mention that when it comes to travelling, having a considerable amount of funds with you will always prove useful. By availing a travel loan with benefits and attractive features from a trusted lender, making your dream vacation a reality becomes easier than ever.

In particular, the Bajaj Finserv personal loan for travel, available on Finserv MARKETS, is an excellent option for every traveller. No matter how big the scope of your dream vacation might be, with the Bajaj Finserv personal loan for travel, you can receive up to Rs. 25 lakhs for your vacation fund. So, if your dream vacation has always seemed like a distant dream due to the finances required, this vacation loan at Finserv MARKETS can help you bridge the gap.

Moreover, due to the convenience of the Finserv MARKETS platform, your travel loan can get approved in 3 minutes flat and you can receive the amount in your account in under 24 hours. So, even if you have a short window to plan your vacation, you can count on the Bajaj Finserv personal loan for travel to have you covered in time.

Amidst the excitement of the travel loan, if you find yourself wondering about repayment, you can rest assured on that front too. You have the flexibility to repay your Bajaj Finserv personal loan for travel in easy EMIs, for the tenure of your choice ranging from 12 to 60 months. What’s more, if you opt for the Hybrid Flexi version of the travel loan at Finserv MARKETS, you can even enjoy unlimited withdrawals from your loan amount no matter where you vacation around the world. Opt for a travel loan on Finserv MARKETS and take the first step towards fulfilling your travel goals.

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.

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522