by Travelling is an excellent way to broaden the horizons and improve the mind. An international trip gives an unforgettable experience of a whole new environment, culture, and cuisine. Whether for a two-country journey or a tour of the most sought-after European destinations, it is an expensive wish for those who are yet to save enough to fund their holiday.
Do you have a long-cherished dream of planning a trip to Europe? Are you concerned about finances while planning a trip to Europe? A Travel Loan will make things simpler for you.
From fulfilling a long-cherished wish to travel Europe to managing the finances better, a travel loan gives you the freedom to use the loan amount wherever you like. It helps cover the travel costs now and enables repayment later in easily affordable EMIs.
You can take a travel loan of up to ₹ 10 Lakh from online lending institutions like Clix Capital for a tenure of up to 48 months, enabling you to repay the loan conveniently and get ready for the next trip. It also prevents the over-utilisation of credit cards, which eventually leads to higher interest rates and additional charges.
How a Travel Loan Helps Pursue a European Vacation with Financial Flexibility?
Here are a few ways a Personal Loan for Travel helps plan a trip to Europe without disturbing the finances:
People incur considerable expenses while planning for a European trip or during a vacation. These include flight bookings, hotel accommodation, transportation from one city to another, shopping, eating, adventure sports, sightseeing, etc. Unexpected financial requirements may also arise due to a sudden accident, theft, or injury during the trip. With a Travel Loan, you can handle all these expenses and more without hassles. A Personal Loan is a multi-purpose loan with no end-use restrictions. Lending institutions never ask how you plan to use the loan amount while evaluating the loan application.
Like other loan plans, borrowers can repay a travel loan in Equated Monthly Instalments (EMIs). Convenient repayment in flexible EMIs allows individuals to plan their dream vacation however they want without feeling any extra financial burden. Furthermore, they do not need to break their savings or liquidate their investments. They can continue to earn their regular monthly income through their investments and pay the loan EMIs suitable to their budget.
The EMI amount to pay each month depends on numerous factors, including the loan amount, interest rate, and tenure. Those who want to keep the EMI amount minimum must opt for a longer repayment term. However, those with a decent income and higher repayment capability may go for a shorter loan term with bigger EMIs. So, choosing the best loan plan while keeping the EMIs affordable is crucial. You can use a Personal Loan EMI calculator to make the final decision.
Unlike vehicle or Home Loans, a Personal Loan for travel is collateral-free. That means borrowers do not need to provide any security, collateral, or guarantor to obtain this loan. In other words, loan seekers do not put any asset at stake to get funds for a European vacation. Those who meet the NBFC’s eligibility criteria and maintain a decent credit score can apply for a travel loan online and receive the funds in their account instantly.
Personal Loans entail easily accessible eligibility criteria and less paperwork than many other financing options. Although the eligibility conditions vary between lending institutions, basic requirements include age, income, employment, work experience, credit score, and financial obligations.
The documentation requirement is also very minimal and straightforward. For most NBFCs, the Personal Loan documents required include an application form, address and identity proofs, income proof, etc. Technologically advanced NBFCs like Clix Capital do not require hard or soft copies of the necessary documents. They have automated systems to verify applicants’ details using their KYC information.
With a Personal Loan, travel planners can get financial access in no time due to their quick approval and disbursal. Since Personal Loans involve minimal documentation and are collateral-free, online NBFCs do not take long to evaluate the applications and disburse loans. That ensures loan seekers can start packing for their European vacation immediately.
Usually, NBFCs supporting 100% digital loan procedures can disburse Travel Loans on the same day. Aspiring borrowers can apply for one in minutes and get funds disbursed into their bank account almost instantly.
Borrowers are most concerned about Interest rates while applying for a Travel Loan. Although Personal Loans have higher interest rates than secured loans, they are still lower than other unsecured financing options like credit cards. So, availing of a Personal Loan to fund a European vacation is better than using high-interest credit cards. Moreover, a Personal Loan comes with nominal processing fees, making them more accessible and affordable.
Funding a European vacation with a Personal Loan helps keep the savings intact. People no longer need to wait for their savings to accumulate and exhaust them at once on a few days’ vacations. With a Personal Loan, they can cover all their travel-related expenses without touching their savings. Keep your savings intact for emergencies and fund the holiday with a low-interest Personal Loan.
An international vacation to Europe can exhaust a substantial amount beyond the planned budget. Over time, the borrower regains control of the finances and recuperates from the incurred expenses’ after-effects. In such a scenario, a travel loan enables repayments in easy EMIs with flexible repayment tenures, reducing the overall financial burden on the monthly budget.
Those planning a European trip no longer need to postpone their quality vacation with family or friends. Easily avail of a Travel loan and enjoy an unforgettable vacation with your loved ones. A Personal Loan for Travel lets you enjoy a stress-free vacation without financial worries. So, apply for a travel loan and get the required funding instantly!
