Travel Loan Tailored To Your Dreams!
Say goodbye to financial worries and bon voyage to your dream destination!
Banks That Offer Travel Loan
Take a look at the following table to learn about some of the top banks that offer travel loans at competitive interest rates:
| BANK | INTEREST RATE |
|---|---|
| HDFC Bank | Starting from 10.50% p.a. |
| IDFC First Bank | Starting from 10.49% p.a. |
| Kotak Mahindra Bank | Starting from 10.99% p.a. |
| ICICI Bank | Starting from 10.75% p.a. |
| Axis Bank | Starting from 10.25% p.a. |
| Standard Chartered | Starting from 11% p.a. |
Features And Benefits Of Travel Loan
Instant Travel LoanDue to low eligibility criteria, travel loan takes the minimum time possible for approval. Take our compatibility test to hasten the process.
Flexible Borrowing TermsWith available flexible borrowing terms and conditions, withdraw the amount as and when required and pay interest only on the amount used.
Fast DisbursalOnce your documents are verified and you satisfy all our eligibility criteria, your loan takes the shortest time possible which can range between a few hours and a few days.
100% Paperless ProcessOur whole process is digital. You can complete the process from application to approval from the comfort of your place.
Ample Disbursal AmountOur loan amount varies within the range of Rs.500 and Rs.10 lakhs. Depending upon your requirement and repayment capability, you can avail a loan of as much amount as you require.
Minimal DocumentationAll we need is a few KYC documents and your income proof. We keep our documentation process minimal so that the queue of our customers waiting remains as short as possible.
Pre-Approved OffersIf you are pre-approved for availing the personal loan facility, you get quick access to the personal loan for travel.
No Collateral NeededThe best part is that you don’t need to put anything mortgage or as collateral. This cuts down half of the hassle of documentation process. However, for short-term loans, some of our lenders might require collateral.
Find Out When Are You Not Eligible
You need to satisfy our few simple eligibility criteria in order to get connected with our lender and get a travel loan online.
Business owners, individuals, entrepreneurs, MSMEs, startups and self-employed professionals, such as CS, CAs, architects and doctors
Public and private limited companies, partnership firms, sole proprietorships, LLPs
Large enterprises dealing only in trading, services and manufacturing sectors
Co-operative societies, NGOs and trusts
Age: 21 to 65 years old
Employment type: Self-employed
Business tenure: At least 1 year or more
Minimum yearly turnover: Vary across lenders
Credit score: 750 or more
Note: The above-mentioned details can vary from lender to lender depending on their terms and conditions.
Documents Required To Apply For A Travel Loan
The documentation process is really simple and minimal. Lenders just need the following documents to run a quick check before proceeding to disburse your travel loan:
PAN card details
Valid ID proof (Driving License, Voter ID, Aadhaar ID, Passport)
Valid address proof (Driving License, Passport, Aadhaar Card)
Bank statement for the last 3 months
Income proof (Payslip or IT Returns)
Photographs
Step-By-Step Process To Apply For A Travel Loan
The application process for a personal loan for travel involves simple few steps and takes a few minutes to complete. All you need is a stable internet connection and follow the given steps:
Why Should You Consider Availing a Travel Loan?
Travelling requires only two of your most important things in life – your time and money. We can manage the latter one for you. But now that you are on our page, you must have been thinking back and forth before applying for a personal loan for travel. Let us give you some good reasons that might convince you:
The primary reason would be not liquidating your other savings or long-term investments.
Instant approval and quick disbursal so that you don’t need to postpone your plan further due to unavailability of funds.
Flexibility in repayment terms and conditions.
You can also use the extra line of credit for emergency purposes while on vacation if required.
You can monitor your travel expenses and refrain from overspending.
Things To Consider Before Applying For Travel Loans
Although these facilities and flexibilities might seem tempting, you should be careful while applying for a travel loan. After all, you will need to pay off the debt through travel loan EMIs.
Check out the following pointers that you should consider before applying for a travel loan online:
Draft your repayment plan beforehand and budget accordingly.
You might need to pay foreign currency conversion fees.
As travel loans are one type of personal loan, the travel loan interest rates are higher. So, compare and choose the most suitable option for you.
Use an online EMI calculator to find out your travel loan EMI estimates and check if it fits within your monthly expenditures.
FAQs About Personal Loan For Travel
What are the benefits of our pre-approved personal loan?
If you are eligible for our pre-approved personal loan, you can enjoy benefits such as lower interest rates, instant approval and disbursement.
How much personal loan for travel can I get at Credmudra?
You can avail a personal loan for travel ranging between Rs.1,000 and Rs.20 lakhs depending on your requirement and eligibility.
How can I repay my travel loan?
The most convenient way to pay off your loan is by paying EMIs. But if you fear defaulting on your monthly payments, you can set up standing instructions or turn on the auto debit facility. Just make sure that you have sufficient balance in your linked bank account.
