Who doesn’t love travelling? The happiness of going to a new place—be it a domestic destination or an international one—exploring new landscapes, cultures, food and more is enough to relieve you of all the work and life-related stress. But, are you postponing your travel plans due to insufficient funds? Now, no more. With the best instant loan app, you can now plan and execute your trip effortlessly. Just apply for a quick holiday loan, go on a vacation, and repay the loan amount gradually in the form of easy and affordable EMI at a low-interest rate.
A holiday loan is easy to apply for and is usually instantly approved. Once you meet the eligibility criteria, all you have to do is submit your documents and pack your bags to go on your dream vacation while the loan is approved and funds are transferred to your bank account.
Apply for a travel loan online through instant loan apps and websites to avoid delays in your vacation arrangements. This is the quickest approach to completing travel financing when the need arises. Here’s all you need to know about a travel loan.
What is a holiday loan?
A holiday or travel loan is a form of personal loan that delivers the required funds on time and supports your travel needs no matter what the purpose of your trip is. Because this loan is for a shorter length of time, no collateral is required. Depending on your bank, the term of this loan is usually one or two years. The best thing about a travel loan is that you receive the funds all at once, and you can repay the amount in easy EMIs within a fixed tenure.
What are the features and benefits of a holiday loan?
A holiday loan is a simple loan product and is much safer than other debt instruments. To get the most out of this lending facility, it is necessary to become familiar with its features and benefits. Its features and benefits include:
.This loan is open to all first-time borrowers
.Since it is an unsecured personal loan, no collateral or assets are needed to get it
.Instant registration, digital document submission, and real-time authentication make online travel loans a preferred option.
.Personal loans offer you at least a year to pay off the amount. Your debt is divided into reasonable monthly instalments, making it easy for you to pay back the loan amount.
What are the eligibility criteria for an instant travel loan?
Before applying for travel loans, you should review the eligibility criteria. The eligibility criteria for a travel loan include:
.You must be aged between 21 years and 58 years to apply for this loan.
.You must be a salaried individual with a monthly income of at least Rs 15,000.
.You must be a citizen of India.
.You must have a good credit score
.You should have a six-month bank statement of your salary account showing your income status
.Your bank account should fall under one of the financial institution’s preferred banks
What is the necessary documentation for a travel loan?
You must submit the following documents while applying for a travel loan. If you are applying for the loan online then you need to upload soft copies of these documents for verification.
.Six months’ salary or personal account bank statement.
.Corporate documents for proof if you are travelling for work.
.Submit a copy of your Aadhaar Card or driving licence.
.Additional documents detailing financial and professional information.
How to apply for an instant travel loan via the app?
It is pretty easy to apply for an instant holiday loan using the best instant loan app. Here’s how you can do it:
.Download and install the instant loan app from the Google Play Store.
.Enter your mobile phone number or email address for OTP verification.
.Fill in the required loan amount, term, and EMI on the application form.
.Get done with KYC document verification.
.After verification, the loan amount will be transferred to your bank account within 24 hours.
So, now you know how easy it is to source funds for your dream trip. Visit the best instant loan app, check your eligibility requirements, upload your documents and click ‘apply,’ and the funds will be debited in your bank account within a few minutes.
It would be ideal if you create a thorough trip budget before applying for a holiday loan to get an estimate of the loan amount needed. You may use the EMI calculator tool to calculate the amount of EMI you will need to pay for a certain loan amount. Just enter your desired loan amount, interest rate, and loan period and you will have the results on your screen within seconds. What are you waiting for? Bon voyage!