How Travel Loans Help You to Plan Your Luxury Vacations?
Planning a vacation is always a fun experience for all of us. It could be a pilgrimage trip or a much anticipated exotic destination; it’s always exciting to plan a vacation with family and friends. But some things you have to postpone or cancel your travel plans due to insufficient funds.
Here’s the good news – today, most money lenders and financial institutions offer flexible travel loans to address the needs of travellers. Many money lenders and financial institutes have packages that are designed for travellers to provide them with the best travel loans that they deserve. So, they can easily fund their expenses of traveling the world.
One of the most attractive advantages of getting a loan from these money lenders is that they help you to pay for all sorts of travel-related expenses. It means that right from booking your air tickets to finding the perfect accommodation, these lenders do it all for you to make your travel experience unforgettable.
The right thing is that many money lenders offer personal loan for travel especially for the people who love traveling. The rate of interest, the repayment tenure and the terms and conditions of the travel loan are similar to the personal loan which is affordable for the person. So, all you need is to apply for the personal loan under the terms and conditions of the travelling.
Why do you Need to Go for the Travel Loans?
There are many reasons for you to take a travel loan. Some of them are listed below:
- If you are looking for instant funds to spend some quality time with your family and friends
- If you want to liquidate your net savings by losing the interest income on your long-term savings like fixed deposits, NSCs and others
- If you are a salaried professional with enough confidence to repay your loan amount on time
- If you are willing to spend a specific amount for your luxury vacation expenses
Available Options For Travel Loans That You Should Know
Many travel companies, as well as money lenders in the market, offer flexible and lucrative travel loan packages to the borrowers. If you are looking for the best option to plan your trips, here are a few options you might consider for availing travel funds.
- Avail personal loan
As stated above, many lenders offer travel loans under the title of personal loans. You can avail many benefits of availing personal loan for your travelling needs.
- You might be eligible to get up to ₹3,00,000 covering all your travelling expenses.
- The paperwork is the minimum and quick disbursal.
- You can get funds to travel in and outside the country.
- The repayment tenure will be of 12 to 60 months with easy EMIs.
- The personal loan interest rates might be between 12% to 24% depending on your credit score.
- You can also avail the loan with a minimum processing fee from 0.25% to 2% of the loan amount.
- You can increase your loan amount by providing security of your liquid assets like FDs and bonds.
- Credit Card based EMI Loans
You can also fund your travelling expenses with credit cards. You can easily convert your loan amount into credit card EMI loan. However, these kinds of loans have a higher rate of interest. Here are a few features for credit card-based travel loans.
- You can avail hassle-free loans with minimum paperwork.
- The loan tenure is 3 months to 12 months.
- The rate of interest can be between 25% to 35%.
- The eligibility of your loan is limited to the credit card limit and also your travel destination.
It is easy to avail of travel loans. In case you don’t have enough money to fund your travel needs, there are a plethora of money lenders available in the market. You can select the best lender, which are offering travel loans with minimum paperwork, the lowest interest rate and flexible repayment option.
You can even check out your travel loan eligibility online to plan your luxurious vacation. You need to select the scheme that suits your travel ideas, destination and plan. Many times, lenders introduce these schemes to attract travellers with massive discounts. Keep an eye out for such schemes to avail travel loans with savings.