Travel Loans are unsecured personal loans taken to cover your travel expenses. Most of the people do not have much money to spend on travel that's why they crush their travelling to their faviourate destinations. But , you can full fill your travel dream by availing travel loan either from bank or from NBFCs whichever is cheap and best for you.
You have to meet their eligibility criteria to get travel loan
Eligibility Criteria
Here are some main factors which is required to get travel loan.
Profession : Salaried or self-employed Age Eligibility : 21 yrs. to 60 yrs. Income Eligibility : Minimum ₹ 20,000 Work Experience Required : 3 years and above Experience in Current Company : Varies from 1 month to 1 year Salary Slip : 3 month
Before applying for a travel loan, consider these factors:
1. Estimate the correct budget for travelling by consider ticket costs, accommodation costs, food costs, etc. to set the estimated travel cost. Add a buffer of 20% to the estimated amount because you are not aware of unexpected expenses might comes during travelling. 2. Research the lending market to find the best travel loan product for you. Compare the interest rates and other loan terms to get the best out of the deal. Check the travel loan interest rate comparison , customer review etc. 3. Make sure that you can afford the EMIs. It’s always better to calculate how much you’ll be paying every month as EMI. Use a personal loan EMI calculator and try various combinations of the loan amount, interest rate and loan tenure to derive at an amount that you can afford.
How to Apply?
You can apply for a travel loan either at a bank branch or online. Applying for travel loan online can save you time and efforts as online applications offer convenience that the bank branch does not. Their are multiple online lender which provide this facility. You can simply visit the official website or download the app of the lender of your choice and fill up your personal details to apply for a travel loan. Once your applications gets approve you will have a sancstion amount which you can avail by select repayment tenure and amount. This amount you can use to buy travel packages on makemytrip and other OTA.
You have to meet their eligibility criteria to get travel loan
Eligibility Criteria
Here are some main factors which is required to get travel loan.
Profession : Salaried or self-employed Age Eligibility : 21 yrs. to 60 yrs. Income Eligibility : Minimum ₹ 20,000 Work Experience Required : 3 years and above Experience in Current Company : Varies from 1 month to 1 year Salary Slip : 3 month
Before applying for a travel loan, consider these factors:
1. Estimate the correct budget for travelling by consider ticket costs, accommodation costs, food costs, etc. to set the estimated travel cost. Add a buffer of 20% to the estimated amount because you are not aware of unexpected expenses might comes during travelling. 2. Research the lending market to find the best travel loan product for you. Compare the interest rates and other loan terms to get the best out of the deal. Check the travel loan interest rate comparison , customer review etc. 3. Make sure that you can afford the EMIs. It’s always better to calculate how much you’ll be paying every month as EMI. Use a personal loan EMI calculator and try various combinations of the loan amount, interest rate and loan tenure to derive at an amount that you can afford.
How to Apply?
You can apply for a travel loan either at a bank branch or online. Applying for travel loan online can save you time and efforts as online applications offer convenience that the bank branch does not. Their are multiple online lender which provide this facility. You can simply visit the official website or download the app of the lender of your choice and fill up your personal details to apply for a travel loan. Once your applications gets approve you will have a sancstion amount which you can avail by select repayment tenure and amount. This amount you can use to buy travel packages on makemytrip and other OTA.