Travelling, whether it is solo travel or with friends and family, can be a beautiful experience. But are you tired of waiting for months to save up for a vacation or looking up ‘budget travel destinations’ instead of just packing your bags and heading to the place you really want, when you want it? In that case, you should consider taking a travel loan.
A travel loan is a personal loan offered that you can use to meet a wide range of expenses related to travelling – from booking your flights and accommodation to shopping and travel insurance. Here are all the ways in which a travel loan can help you in expanding your horizons:
1. Travel without delay
A lot of travel plans are time sensitive. Whether that’s because you want to visit a country during a specific season such as Japan during the cherry blossom season or because you want to attend or experience a certain event while you’re there such as the La Tomatina festival in Spain. And for such plans, you cannot wait to save up money. In such cases, a travel loan comes in handy as it provides you with the funds you need to travel instantly and allows you to pay back the money in small instalments over time. You can apply for a personal loan online and get the funds disbursed to your bank account in just a few hours.
2. Travel without compromise
A lot of people choose to travel to eastern European countries instead of western Europe because they are significantly more budget friendly. And while that may be a good option for some people, others may be disappointed because they will not get the same kind of experiences in such alternative locations as they were hoping for. Hence, if you do not want to compromise on the place you travel to as well as the things you do once you’re there, then you can take some support by applying for a travel loan. Say you have Rs 1 lakh saved but the trip you want to do requires Rs 2 lakh. You can easily apply for that additional Rs 1 lakh through a travel loan and have a fulfilling trip.
3. Travel spontaneously
Some of the best travel plans are spontaneous and sometimes life just demands that out of you. For instance, if you are feeling overwhelmed and want to take a few days off for yourself and go on a solo trip to Thailand. Or, if suddenly, an opportunity at work arises where you can work remotely for a few weeks and you would like to have a workcation. In such a case, you can make these spontaneous plans happen by applying for a travel loan. You can get the loan within just a few minutes especially if you have a pre-approved loan offer with your bank.
Before you apply for a personal loan for travel, however, make sure to use a personal loan EMI calculator. This will help you estimate what your Equated Monthly Instalments (EMIs) will look like and plan for paying them in a timely manner so that you can manage your debt effectively.