Travel Far and Wide With A Personal Loan by Your Side
Personal loan for travel to your dreamed vacation abroad!
Do you have a wish to visit a place which you wanted to visit from a longer period of time?
Or are you just married and are planning for a luxurious romantic destination to visit?
But you are low on cash to fulfil your dream tour?
If above are the questions that are stopping you from travelling abroad or in your own country then not to worry because you can travel to your dreamed destination with the help of a personal loan!
A personal loan for vacation purposes doesn’t require any collateral, is easy to get, and there will always be loansXpert to help you in getting a low-cost personal loan.
How to Get a Personal Loan for Holidays?
There are many tour companies that have tie-ups with various lenders that offer tour packages with travelling loan options.
- You can get a travel loan very easily if you have a good credit score and a good credit history. You should have a credit score of 750 or above.
- You should have all the required documents like Government approved ID proof, address proof, bank statement, employment certificate and salary certificate if you are a salaried employee, educational documents or business continuity documents if you are a self-employed individual.
Benefits of taking Personal Loan for Travel
Personal Loan for an awesome vacation offers the following benefits.
The wish of Dream Destination Fulfilled
A Travel loan will be like a Genie that will help you in granting your wish of travelling to the destination you dreamed of. You can get up to Rs 25 lakhs of loan amount by all the banks and NBFCs.
No Collateral Required
There are various other loans that require your asset as a collateral, however only a personal loan is a loan that will never require anything as collateral. So you don’t have to keep anything as a guarantee.
Affordable Interest Rates with Flexible Tenure
LoansXpert will help you in getting affordable interest rates so that you can enjoy your journey with low travel expenses. You can choose the loan tenure from 1 to 5 years to repay the loan amount.
Easy to Apply
Applying for the travel loan is easy and quick because all the complication related to the personal loan will be taken care of by LoansXpert.
Flexible Repayment Options
You can pay the EMIs either by Post-dated Cheques, Electronic Clearing Service or by Net Banking.
Faster Disbursement of the Loan
As soon as your travel loan application is approved, your loan amount will get disburse in your account within 24 hours.
Cheaper than Credit Cards
Travel loans have a low cost associated with its amount as compared to a personal loan.
What expenses you can cover with the Personal Loan
Besides covering the travelling expenses, accommodation expenses, food expenses by the personal loan, the loan can also be used for many other non-travel related expenses like home renovation expenses, luxury items cost, clearing off your debt, credit card bills, medical expenses, wedding expenses, educational expenses, gadgets expenses, and any unforeseen expenses.
Tips before applying for a Personal Loan for a vacation
It’s true that a personal loan will help you in fulfilling your wish of a splendid vacation, but before applying for the one, first analyse your total savings and get the numbers of the amount that you can raise on your own.
Here are Six tips to keep in mind before applying for a personal loan for vacation.
Do a good research of the place you want to visit by referring travel websites, guide books, etc.
Check what are all the spots you can see and the activities in which you can indulge yourself. Get the quotation for your trip and then take the final decision of the places you want to visit.
Before applying for a personal loan do self-assessment of your repayment capacity because if you are not in the capability of repaying the loan then your happy trip will eventually be converted into a sad trip.
Don’t apply for the loan amount whose EMI paying exceeds 50% of your income. Always plan your budget first before applying for the personal loan.
Choose your loan tenure wisely. Longer tenure attracts a low cost of interest every month. However, as the period is longer so at the end of the period you will end up paying more interest.
Whereas the short tenure period will help you save well on interest outgo and at the end of the tenure you would have paid less interest amount as compared to travel loan having longer tenure.
Most of the banks have a prepayment penalty and foreclosure charges to demotivate you from repaying the loan amount before the end of the tenure. So it’s better to choose the lender which offers flexible repayment options.
Use the loan amount wisely, don’t get spending it for unnecessary things because do keep in mind that whatever amount you are going to use during the travel, you will have to repay it in instalments later on.
Plan a budget, allocate amount where you really want to spend like some amount for transportation, some amount for food, some amount for lodging, some amount for shopping, some amount for visa fees, some amount for purchasing tickets, etc.
Travel insurance will help you from safeguarding your trip from any travel-related mishap like accidents, stolen of valuable items, etc. Travel insurance will keep your EMI repayment process unhampered.
LoansXpert can help you plan your dream vacation
So after knowing everything about the travel loan, you might be wondering whom to approach for getting an affordable travel loan as there are many lenders in the market who all will say that they have the most suitable loan just for you.
But besides having low-interest rate personal loan for a vacation, there are many other factors like prepayment charges, processing fees, foreclosure charges, etc., that are not supposed to be ignored before applying for a loan.
LoansXpert will assist you in selecting the most suitable personal loan provider for your vacation expenses.