The Travel & Tourism industry went through a severe downturn due to the global pandemic. However, due to the easing of curbs, things are looking up for the industry. After missing out on vacations for more than two years, tourists are flocking to holiday destinations now that travel restrictions have been lifted. Vacations are something to look forward to. They are a perfect way to relax and rejuvenate, away from the hustle and bustle of everyday life. A vacation involves meticulous planning and endless debates. Moreover, expenses on travel, accommodation, meals, etc are involved in a vacation. One may not have the requisite funds for a vacation. However, a person can opt for a personal loan to fund a vacation at competitive personal loan interest rates.
A personal loan for a vacation can be used to pay for several expenses related to the trip.
Further, one can use an instant loan app to get a holiday loan, such as Fullerton India’s InstaLoan mobile app. Take advantage of fantastic holiday deals by applying for personal loans on time with minimal personal loan documentation.
A few reasons why one can opt for a personal loan for a vacation are:
Loan applications traditionally take several days to process. This processing time has been reduced due to the online loan process.
With Fullerton India, the loan process is hassle-free, and one gets the loan amount for a vacation instantly. Salaried professionals can get up to Rs. 25 lakhs as a loan, and self-employed professionals can get up to Rs. 10 lakhs.
Nowadays, loan applicants need not visit the lending institution’s office as the loan process can be completed online. One can upload the required documents on the loan app or website. With Fullerton India, the personal loan documentation is minimal, making the process quicker and seamless.
An applicant can avail of a personal loan for their vacation at competitive personal loan interest rates, making the EMI payments affordable. They can go through variations of several interest rates on the personal loan EMI calculator and choose the one that best fits their budget.
With Fullerton India, interest rates are competitive, ranging from 11.99% to 36%.
With a personal loan, borrowers are not required to provide collateral, making it easy to obtain a personal loan for their dream vacation.
Individuals can choose their loan amount and length when they take out a personal loan. Individuals can choose from several repayment options with Fullerton India, ranging from 12 to 60 months, allowing them to find the ideal plan as per their specific needs.
Another benefit of opting for a personal loan for a vacation is that the applicant can get the required amount in one go. Thus it is not necessary to dip into savings or liquidate investments.
Depending on the lending institution, different criteria apply for obtaining a personal loan.
It is convenient to get a personal loan from Fullerton India. Minimal documentation is required, and the entire procedure is completed online, enabling funds to be transferred quickly. Furthermore, the term is flexible, and interest rates range from 11.99% to 36%.
For obtaining Fullerton India personal loan, candidates must meet the following requirements:
- The applicant can be self-employed or salaried.
- Borrowers must be Indian citizens between 21 and 60 years.
- A self-employed person’s minimum income may vary depending on their profession and sector. Employed applicants should have a minimum salary of Rs. 25000 (if based in Mumbai and Delhi) and Rs. 20,000 (if based in other cities).
- Further, applicants should have a credit score of 750 or higher.
Personal loans are a simple and convenient way to fund a vacation. These can be obtained with minimum documentation and simple eligibility criteria,
One of the disadvantages of taking out a travel loan is that it is used for an experience rather than for purchasing commodities or using essential services.
One must also consider the loan processing charges and loan prepayment fees while choosing a personal loan for a vacation.
When looking for a personal loan for a vacation, it is good to compare offers from different lending institutions. Look for those who provide the best deals and services.