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Planning your dream escape is half the fun; financing it needn’t be the other half of the headache! Planning such a vacation can be an incredibly exciting experience. Often, the final piece needed to transform this dream into reality is securing the necessary funds.
From dedicated savings accounts to holiday packages on EMI, today you have more options than ever to make a holiday happen. There are various accessible funding options that you can utilise to make your travel goals a reality.
Creating a separate bank account exclusively for your holiday helps you resist the temptation to dip into your travel corpus for everyday expenses. You could automate the transfer of a fixed amount –say ₹2,000– from your salary every month, so contributions happen without fail. Some high-yield savings accounts could also offer marginally higher interest rates than regular accounts, allowing your fund to grow a little faster over time.
You could also track your balance using mobile banking or personal finance managers to stay motivated as you see your holiday fund swell towards your goal. Certain banks could offer travel-related perks—like airport lounge access or complimentary travel insurance—on the debit card linked to your savings account, helping you save on ancillaries. Over time, these deposits can accumulate into a sizeable corpus for your dream vacation.
Year-end bonuses, festival gifts or tax refunds can turbocharge your travel fund if you allocate them wisely. Rather than spending these sums on discretionary purchases, divert them straight into your holiday savings account or for EMIs on tourism packages. Agreed, you shouldn’t rely solely on bonuses as their timing and amounts can vary. However, when they do arrive, they can knock months off your savings timeline.
Moreover, freelance income, consultancy retainers or even cash gifts from family can serve the same purpose. Pooling these windfalls together creates a powerful one-time infusion for that dream vacation. If your bonus arrives at a different time, you might also consider parking it safely in short-term saving schemes or investment options like mutual funds until you’re ready to book.
Small daily savings quickly add up when channelled into a travel fund. Try these: pause unused streaming subscriptions, swap fancy café lattes for homemade brews, or car-pool instead of booking Uber rides. Such small acts can help you free up several hundred rupees each week. Skipping one restaurant meal per week and cooking at home could redirect ₹800–₹1,000 over seven days straight into your holiday pool.
Assess your monthly bank statement for impulse purchases—whether it’s pay-per-view movies or in-app purchases—and set realistic limits on non-essentials. Then, redirect these savings to a recurring deposit or your dedicated vacation account. Even modest cuts of ₹500 per week can amount to over ₹25,000 annually without any pronounced lifestyle sacrifice.
Several credit cards now offer ‘no-cost’ EMI conversions on flight and hotel bookings. This lets you split large payments over 3–6 months without having to pay extra interest. For longer trips, look out for holiday packages on EMI or travel packages on EMI schemes from trip-booking platforms and tour operators. These often bundle flights, stays and transfers into a single monthly outgo.
Prepaid forex cards lock in exchange rates and waive reload fees, helping you budget your expenses accurately when travelling abroad. Co-branded cards with airlines or hotel chains also reward you with air-miles or loyalty points on every purchase. These can be redeemed for future travel savings. Remember to clear your dues on time to avoid interest and late fees.
A travel loan is simply an unsecured personal loan for travel, specifically for holiday expenses. These might have terms like faster approval and optional top-up facilities tailored for travellers’ needs.
You can borrow a lump sum to cover flights, accommodation, visa fees, tours and even costs like travel insurance. Then, you can repay in fixed EMIs over an agreed-upon tenure. These loans usually require minimal documents so that you can quickly access funds post approval.
A personal loan for travel offers several compelling advantages, making it a popular choice for many Indian travellers:
High Loan Amount
You can borrow up to ₹50 Lakhs to fund your chosen holiday itinerary, subject to your credit profile and income.
Quick Disbursal
Funds land in your account within 24 hours of approval, letting you book last-minute deals without delay.
Minimal Documentation
Only basic KYC documents and income proofs are needed, eliminating lengthy paperwork and branch visits.
Flexible Tenures
Choose repayment tenures up to 96 months, so you can tailor EMIs to your budget and cash-flow needs.
Collateral-Free
No security or guarantor required, making it accessible even if you lack property or gold to pledge.
Choose funding wisely to keep your holiday fun and your finances healthy:
Only borrow the exact amount you need for your trip, not the maximum available, to minimise interest outgo.
Calculate your monthly EMI burden against your income before applying to ensure comfortable repayments.
Compare loan amounts, interest rates, and tenures on financial platforms partners to secure the most cost-effective deal.
Stick to a repayment schedule by setting up auto-debits, so you never miss an EMI and hurt your credit score.
A personal loan for travel is an unsecured loan specifically designed to cover travel-related expenses. It provides a lump sum amount that can be used for flights, accommodation, activities, and other holiday costs, without requiring collateral.
Many lenders offer rapid approval and disbursal for travel loans. Through financial marketplaces like Bajaj Markets, you can enjoy fast approval and disbursal of funds to your account within a few days.
No, typically personal loans for travel are unsecured loans. This means you do not need to provide any collateral like property or gold to avail of the loan.
Yes, a travel loan can be used for both domestic and international trips. Since there are no end-use restrictions, you have the flexibility to spend the funds on any expenses related to your foreign travel plans.
Yes, you can use a personal loan for travel to pay for holiday packages on EMI, tour packages on EMI, or travel packages on EMI. The loan provides you with the upfront funds, and you then repay the loan amount to the lender in manageable monthly instalments.
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