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You may have diligently planned for a holiday to Dubai this summer, and even saved up for it. Unfortunately, sometimes plans do go awry. Maybe your bookings aren’t done yet and you’ve found that the resort you wanted to stay at is sold out or maybe you feel like giving your family an extra special treat and want to take them farther abroad. Your new plans will probably require additional funding.
These days, you have various options: you could swipe your credit card, you could cash in a few investments (shares or mutual funds) or you can get a vacation loan. A vacation loan is a personal loan that is meant to finance your travel plans, and with ease of online applications and low personal loan interest rates, this may be the most financially wise decision you can make!
Focus On Your Trip Rather Than Your Finances With This Guide It’s understandable that you end up dedicating most of your time in planning the financials of going on a holiday. But is it really necessary when there are experts who can do it for you much more efficiently? After all, this is your chance to relax and rejuvenate. Here are a few ways to help you get going for your holiday:
Dip Into Your Options, Not Your Wallet It might seem like a good idea to spend your savings or cash in on investments for a holiday, but does it really make sound financial sense? You must keep in mind that holidays are a luxury and not a necessity. Your savings are for contingencies or to handle unforeseen circumstances like a medical emergency or a sudden loss in pay. Your credit card, on the other hand, may seem like an easy fix, but with high overseas travel expenses it may not cover all your expenses. Even with a high limit, the interest charged on credit cards is so prohibitive that repaying the amount becomes a burden not many can bear. Lastly, do you really want to max out your credit card right now, rather than use it for other expenses in the course of the month?
Personal loans for travel or vacation ensure that your savings remain just that—a means to ensure financial stability even in the face of unexpected expenses. With low personal loan interest rates and stress-free online application, applying for a holiday loan has become easier than ever.
It’s All About What’s More Comfortable For You With holidays abroad—from old-world Europe to the wildlife capital of Australia—
becoming all the rage across India, travel loans have never been more attractive. Facilities such as instant online approval and transfer of funds to your account within 72 hours make applying for a personal loan easy. Your vacation is all about experiencing the new and vacation loans offer more comfort and convenience than any other avenue.
Make It a Dream Holiday—You and Your Family Deserve It! No matter how much you may have saved, it’s difficult to gauge the exact amount you’ll be spending on your trip, especially if you’re planning a vacation you want to treasure for years to come. It’s better to avoid all the uncertainty, especially when you can avail vacation loans of up to Rs. 25 lakh. An added benefit is the delightfully-low personal loan interest rates, which keeps your affordability in mind.
Why Not Enjoy Attractive Pre-Approved Offers While You’re At It? How awesome is it to get an additional reward when you’re buying something you need anyway? Vacation loans these days frequently come with fascinating pre-approved offers, designed exclusively for the customer.
Your life’s Already Hectic—Just Take Care of Your Holiday Loan Details Online This is the digital age, and there’s no need to address everything you need to get out of the way in person. When you apply for a personal loan for travel, you can do it in the comfort of your own home using your computer or even your mobile phone. With online application, online approval, online disbursal of your loan amount, you also get the opportunity to review your schedule for repayment and interest, the tenor, and any other pertinent information through a customized digital portal. What could be handier?
What You Need to Know About Vacation Loans A vacation or holiday loan is essentially a personal loan that is used for the purpose of travel. It is also called a travel loan, and is usually an unsecured loan, which means that you as a borrower do not need to sign anyone as a guarantor or attach any collateral as security for the loan.
You can use this personal loan for travel to buy your air tickets, finance your stay and even use it for food, entertainment and other expenses on your holiday. Usually
personal loan interest rates are cheaper than credit card interests, making them a viable and prudent option for vacationers like you.
While Taking a Travel Loan, Remember These 5 Guidelines: • Plan your finances before opting for a loan, over budgeting a little to cover any travel contingency (like missing a connecting flight!).
• Don’t over borrow so your repayment is hassle-free and according to your monthly income—not beyond it.
• Make sure you can repay your holiday loan by using a personal loan EMI calculator and taking your monthly income into consideration.
• Check your credit core (CIBIL score) before applying for a personal loan for travel to ensure that you will get the best interest rates.
• Make sure your vacation loan is not a last-minute indulgence, but well thought-out in advance.
So go ahead and plan a luxurious family vacation with a vacation loan at your fingertips.
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