Travel Loan for Millennials

Millennials give Wings to Travel Loan Segment

14 Nov 2019
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Travelling nowadays has become an important part of modern millennial life. Millions of people all over the world travel about their own countries and abroad as well. People travel for business purposes or to visit destinations surrounded by natural habitat to get away from their busy city life and schedule. It’s always interesting to discover new things and other ways of life, to meet different people, taste different cuisines and various architectural styles. It’s common knowledge that travelling is one way to understand and experience other cultures, cuisines and a wonderful opportunity to learn more about the world we live in.

The impact of social media

Since the advent of technology and social media, the traveller’s journey has become simpler and more convenient than it used to be. You no longer need to rely on guidebooks compiled by ‘experts’ with out-of-date information or even paper maps to navigate their latest destination. Instead, travellers now travel smart with all the technology available. They have the privilege of instant access to information across the web in the form of travel guides, reviews, and traveller’s social media photos depicting their latest vacation.

This real-time access to relevant tips and, often, crowd-sourced information, has ultimately changed the way travellers approach planning a trip from travel inspiration to booking. In fact, millennials are giving the tourism industry its biggest boost in generations. To get their slice of the pie, however, travel companies have to understand the way social media are influencing young adults’ adventures. Millennials aren’t just leaving photo albums on store shelves, they’re choosing, booking, taking, and sharing their travels in ways older generations simply didn’t.

The following are the things that millennial travellers are doing differently.

Word of mouth

Even the best company blog post in the world won’t engage millennial travellers like suggestions on social media. However, a favourite travel influencer’s recommendation means more than one from friends or family. This is how word of mouth works, people look out to influencers and other people sharing their experience. They look for pictures or videos that show the location, and accommodations offered. Watching other people experiencing things and enjoying adventurous activities lifts up the travel spirit of young millennials to travel.

Picking the right destinations for pictures

Not that long ago, vacation pictures were an afterthought. For millennial travellers, they’re the entire point of travelling or going on a vacation. The top priority of young adults travelling abroad is how appealing and social media-worthy pictures of their destination is. To attract millennial travellers via social media, though, brands need more than just beautiful photos.

Travel related brands create their presence on a social media platform that is sincere and true to their brand. There are social media pages for travel enthusiast that share campsite posts shots of pristine lakes and mountain retreats. But more importantly, it shares guests’ own photos. Such pages get more views and become quite popular, without such user-generated content, it wouldn’t get the same result.

Booking budget-busting tips

Fear of missing out is a powerful motivator, watching other people on social media travelling places and enjoying their lives is enough to entice anyone. Moreover, millennials are a generation that is most burdened by student debt and high rents, but they’re also the ones most likely to splurge on short trips or exotic vacations. Most young millennials are willing to splurge on travel experiences.

Millennials don’t mind overspending a bit on such trips. Some travel companies showcase travel’s social and educational benefits to lure young millennials that see it as a valuable opportunity. Viewers on social media get attracted to breath-taking travel videos and social media posts. These videos receive a lot of views and conversions compared to those with only photos or text.

For today's generation of young millennials, the era of easy and fast loans - enabled by a slew of financial technology ventures is proving to be a godsend for vacations and frequent weekend getaways. Moreover, millennials choose to fund a lot of their lifestyle needs by borrowing money. Travel loan for millennials enables a better overall experience better accommodations, more cash for shopping and a stress-free excursion.

Travel loan for millennials

The new generation of young millennials plan holidays, just the way one plans investments. However, there has been a shift in the younger generation in terms of financial planning. Not just the ones who do not have enough savings, but also those who want better travel experiences or wish to visit exotic destinations are opting for loans.

Getting a personal loan for travel with Finserv MARKETS is quite easy and hassle-free, you will be able to cover all your travel expenses including travel tickets, accommodation, hotel bookings and more. With a travel loan from Finserv MARKETS, your loan application will get approved in no time.

Once your documents have cleared the verification process, your loan application will soon get approved and the loan amount credited to your bank account within 24 hours! On Finserv MARKETS, you can avail a Personal Loan with flexible repayment tenure that ranges from 12 to 60 months and repay the loan amount as per your financial capability. You can avail a loan for travel without submitting any collateral or guarantee.

A travel loan with Finserv MARKETS would ensure you do not require to blow up your personal savings on travel. With high-value travel loans of up to ₹ 25 Lakh, you can plan your dream vacation with absolute ease. Moreover, while you are making plans for your travel online, you can also track your repayment schedule and other loan details through our online customer portal, which make it easier for you to keep a track on your money and the payment schedule.

You can avail travel loan with low fees, competitive interest rates and nominal charges. All of this makes it easier for you to go on your most awaited trip on your bucket list without spending your personal savings and having to worry about finances. You can focus solely on getting ready for a pleasant vacation.

“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 works 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.”