A personal loan can be easily put to use for servicing all your travel plans. It could be a travel plan within the Indian territory or an international tour. When money is borrowed for travelling, it is essentially called a travel loan. Many prominent banks and financial institutions offer travel loans in India. Yes, indeed a personal loan is available for travelling. The important question here is when would a travel loan be useful. Let us see the conditions which match the expectations for a travel loan and how: Choose a travel loan if you meet any one of the below mentioned statements:
What can be the possible options for travel loans for a luxury vacation?
- You are longing to spend time with family and do not want to further delay the plans as ever. This could be a well postponed plan due to shortfall of funds.
- You are hesitant to spend on holidays out of your savings. Long term savings must be maintained for a constructive future.
- You are rigid to use up all your savings and reduce your interest proportions for a temporary comfort. Your savings could be in the form of Fixed Deposits, NSCs, etc to plan a holiday.
- You are placed in a comfortable job with a long term view of the bank/post office deposits. In case, you take a loan, it’s easier to repay back the money borrowed well in time.
The leading plans for tours and travels are generally in tie up with the banks or NBFCs for easy travel loans. These companies provide easy packages to individuals to sponsor their travelling plans in a shot! This is exactly why we are keeping you informed through this article. It’s extremely important to read and select the best available personal loan based on the platforms directly. Here, we have two categories of personal loans which can be used for travelling:
Banks and NBFCs provide personal loans to finance travel costs. The salient features of Home Credit personal loans are as given below:
- Personal loan to travel anywhere inside or outside India
- Personal loan upto 2 lakhs and utilization marked as per actual expenses and eligibility
- Potential to top up the actual loan amount by investing in FDs, NSCs etc.
- 0% processing fees and less documentation
- EMIs as low as 1000* only
- Secure Loans (Based on Credit Cards)
There’s an option to avail personal loan based on your credit card. A meaty outstanding amount can be converted into EMIs. However, these personal loans have higher rates of interest and less documentation. The salient features can be seen clearly as under:
Are there any substitutes for travel loans? The best you can do is:
- Travel costs are quickly converted into EMIs
- Quick disbursals with less documentation
- Personal loans at flexible repayment terms
- Loan amount depends on the credit card limit and chosen location
- Wait for finances and then spend on trips with idle money.
- Build your travel plans based on the recurring savings account. The account will ideally cover all costs and charges, at a hedge.
At Home Credit, we ensure that our personal loans for travel
are available at reasonable rates of interest and 0% processing fees. However, we expect you to review and compare loan offerings and make a choice! Home Credit India will instantly to cater your day to day small needs with its instant personal loan.