Travel Loan for your Summer Vacations
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Take a Travel Loan for your Summer Vacations

by Eric

Summer is the time when you want to get away to a cooler place from the scorching heat of the sun. It is a good time to travel as schools and colleges have a long holiday. So, families can set out for a long vacation to the beaches and preferably the mountains. Couples, friends, and families can enjoy their vacations at various locations around the globe. Tour and travel companies introduce summer holiday packages at reduced rates, giving plenty of discounts. So, you should take full advantage of the reduced prices and go on a trip during the summers.

Having enough funds to provide for your summer trip is not possible for everyone. It gets hard to manage your daily life and then save up for a long trip. Therefore, people sometimes plan a budget trip and compromise on the location, going to nearby places. Many travel companies have launched a fintech arm that provides travel loans covering bookings of hotels and flights and providing for the transportation costs. TripMoney by MakeMyTrip provides travel loans that assist you to travel worry-free and handles the travel expenses for you.

Many banks provide personal loans for traveling purposes but they have the same rate of interest as travel loans. A travel loan, like a personal loan, can be availed online, and you can repay the borrowed amount in monthly installments. A personal loan EMI calculator will let you know the exact amount of EMIs that you need to pay each month. You can also use a prepayment calculator to calculate the amount you need to pay if you plan on paying the loan in advance. Taking a travel loan for your travel expenses is feasible only if you can afford to pay the monthly EMIs on time.

Traveling for leisure is on everyone’s list. The hectic and busy lives people have, call for relaxation once in a while, and what better way to relax than going for a trip. When you are at your work desk, the thought of going for a vacation comes to your mind. Taking a vacation is always very enticing and appealing. Traveling refreshes our soul and adds that extra oomph that you need to get back to your work life. However, going for your dream vacation needs a lot of money. It is not a wise thing to break your investments and spend all your savings for funding your vacation. Read more about A Review On the Pristine Waters in Komodo pink Beach.

A travel loan can be the solution for funding your travel expenses, and you do not even need to sacrifice your savings for going to a spectacular location.

Things to Consider

  • Choose your Destination

You should primarily select a destination for your trip during the summers. Hill stations are the most preferred choice during the summers, but you can also go to any first, or beaches for a memorable experience.

  • Finalize a Budget

You should plan a budget economically and stick to it. You should also calculate how much you are going to spend yourself and how much loan you will take. You should take your travel activities, flooding, lodging, sightseeing, shopping, and other activities into account.

  • Choose the Best Travel Package

Select the travel package that gives you the best deals and discounts. Look for a package that includes sightseeing and special attractions that you can enjoy.

  • Take Travel Loans

Using travel loans to fund your vacation, helps you to stay worry-free and does not burden your pockets unnecessarily. You can repay the loan at your convenience.

Features and Benefits of Travel Loans

Taking a travel loan is a good option for supporting your travel needs. You can enjoy your favorite holiday destination, and relish the chilly weather in a hill station, or watch the sunset on a secluded beach by applying for a travel loan.

  1. No assets required: Travel loans do not require any collateral. Therefore you do not need to pledge any assets.
  2. Apply Online: You can easily apply online from the comfort of your home with minimum documentation. TripMoney asks you only for your Aadhar card, PAN card, and birth certificate.
  3. Low Rates of Interest: Travel loans have a lower rate of interest as compared to credit card loans, and TripMoney charges a 20% rate of interest per annum.
  4. Flexible Repayment Tenure: You can repay the loans in easy monthly installments, and TripMoney allows you a maximum of 1 year to repay your loan.
  5. Small and Big Loan amount: You can borrow any amount you require depending upon your monthly income. TripMoney allows you to borrow any amount between Rs. 4500 to Rs. 25000.
  6. Easy Eligibility Criteria: You can go to the MakeMyTrip app and open the TripMoney section, where you can apply for a loan and check your eligibility by just entering your mobile number. You need to have a stable income or be self-employed to be able to get the loan approved.

Taking vacation loans with TripMoney is easy as it allows you to link your bank account to your TripMoney account for auto-repayment of EMIs. This way, you do not need to worry about paying the EMIs on time.

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