How Can I Get a Travel LoanA memorable vacation with a close bunch of people is everyone’s dream. Exploring traditional India or exotic island vacation, luxurious cruise, visiting seven wonders of the world etc. can all be on your travel list. To fulfil your travel bucket list, definitely abundance of funds is required, which is easy to get through travel loan. When you don’t have enough savings to take a break for a refreshing holiday, opt for a travel loan that finances vacations in India or abroad.
Like any other personal loan, a travel loan is easy to apply online and can be repaid gradually in every month instalments (EMIs). Create a travel budget to get an estimate of the required loan amount and research about the trending destinations and combined holiday packages taking around multiple places in a good budget.
Travel Loan via Instant Loan App
An instant personal loan app like Simply Cash makes travel bookings easy with quick loan approval and paperless documentation. Fly to your dream destination without the stress of organising extra finance for travel. In a few easy steps, apply for a travel loan through the Simply Cash instant loan app:
- First, download the instant loan app from Google play store on your android phone
- Register your mobile number for OTP verification
- Verification of KYC documents
- In the absence of Aadhar card, you can submit PAN card details / ID proof / Address proof / Driving license / voter’s ID
- Age eligibility should be between 21-58 years
- Salaried or self-employed individuals should earn at least 15,000/- and submit income statements, including 6 months of salary slip for salaried and 6 months bank statement for self-employed.
Benefits of Travel Loan
The benefits are varied when you apply for a personal loan for travel purpose. Based on the type of loan and other financial details, lenders decide on the loan eligibility of a person. Travel loan covers all the expenses associated with your travel, such as transportation, tour packages, accommodation, travel accessories or any types of expenses linked with your travel.
The direct benefit of an instant loan app is that the loan amount gets sanctioned and disbursed within 48hours of the loan application. It can speed up your travel process.
Factors to consider while taking a Travel Loan
So, before you apply for a travel loan, ensure the homework is done thoroughly so that there is no scope left for rejection:
- Research well about the destination you want to visit. If you don’t have a place in mind, shortlist the top three destinations that are popular and select one place to travel. Ask yourself, what do you want to explore? Are you an urban style traveller who demands a well-planned trip or a cool wanderer ready to explore what comes in the way?
- Make a budget that will give an overview of the amount of money you will need to initiate the travel plan. Budget decides the quality of your stay and overall travelling experience. Also, set a certain amount for any emergencies besides the usual cost.
- Check the amount of savings or funds that you can raise yourself before taking a loan. Check all the possible funds at your disposal. It will help you in determining how much finance you need for implementing the travel plans.
- Have a Backup plan to repay the loan timely, without any stress. Loans are available easily nowadays, but repayment ability matters.