Personal Finance

Updated on: Wednesday, November 27, 2019, 03:11 PM IST

Year-end travel on your mind? Finance your vacation with a personal loan


As per a recent report, the average Indian is more open to the idea of taking multiple holidays in a year. Another study found that there was a 55% increase in the number of travel loans taken across India. These findings indicate that it now easier for you go on holiday, domestically or internationally. This is true regardless of whether you’re a frequent traveller or simply enjoy an annual getaway with your family.

Personal loans for vacations alleviate the burden on your finances and provide you with an efficient way to handle the costs involved. Additionally, with many lenders available, you can find one with the best personal loan interest rates for your year-end travel plans. However, before applying, take a look at the features that make a vacation loan an ideal way to finance your next getaway.

Book luxurious holiday packages with an ample sanction

Many holiday packages allow you to experience what a country has to offer over a duration of a week, 10 days or even up to 45 days. While these packages are all-inclusive, they do cost a hefty sum, sometimes several lakhs, depending on the destination and duration. However, with a good vacation loan, you can cover this cost without any hassles. The Bajaj Finserv Personal Loan for Travel, for example, gives you a sanction of Rs.25 lakh. You can finance a holiday package and take care of other costs while you’re at your destination with ease.

Get instant approval and funding for last-minute travel plans

Last-minute travel plans are not only more expensive, but they also require you to plan expeditiously. Thanks to the advancements in the financial sector, you can efficiently plan last-minute holidays with a personal loan. For instance, with the Bajaj Finserv Travel Loan, you can get approved for funding within 5 minutes of application, so long as you qualify. Further, you get the entire sanction disbursed to your account within 24 hours of approval.

Travel to exotic destinations and repay the loan comfortably

While it can be quite alluring to travel to exotic destinations in Europe or South-East Asia, these trips can cost a small fortune. Nonetheless, armed with a personal loan for travel, you can check every destination and experience off your list without worrying about repayment. Lenders like Bajaj Finserv offer a repayment tenor of up to 60 months, so that you can have a memorable year-end holiday and repay the amount comfortably thereafter. With the help of the personal loan EMI calculator, you can determine the tenor that best suits your repayment ability.

Meet unplanned travel expenses affordably with the Flexi Loan facility

Funding a holiday can be a tricky undertaking as there are certain costs you simply can’t predict. While you can safely estimate and even pay for things like hotel bookings, flights and entertainment reservations, there is no way that you can be a 100% sure of how much finance you will need for intra-city travel, food, shopping and other incidentals.

This is where the Flexi Loan facility comes in handy. Whatever your need, you can pay for it by borrowing from your sanction. You can borrow in parts, without making a fresh application each time. Further, you are charged interest only on the amount withdrawn. You can also pay interest-only EMIs in the initial repayment phase and reduce your instalments by up to 45%.

Financing your vacation with a quick personal loan is definitely the way to go as it allows you to enjoy to the fullest, without financial restraints. However, to truly reap these benefits, it is crucial that you opt for a lender that offers additional value-added services. The Bajaj Finserv Travel Loan is tailored to meet your travel finance needs and is a prime example of a smart vacation loan. With minimal eligibility criteria and documents required, you can apply for one right away. All you have to do is check your pre-approved offer to gain access to an exclusive travel loan deal.

Please note: This is partnered content.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Published on: Wednesday, November 27, 2019, 03:11 PM IST