Traveling, whether it is solo travel or with friends and family, can be a beautiful experience. But are you tired of waiting 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 want when you like it? In that case, you should consider taking a travel loan.
A travel loan is a personal loan offer that you can use to meet a wide range of expenses related to traveling – from booking your flights and accommodation to shopping and travel insurance. Here are all how 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 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 is handy as it gives you the funds you need to travel instantly and allows you to repay the money in small installments 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
Many travels 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 experiences in alternative locations as they hoped. Hence, if you do not want to compromise on the place you travel to and the things you do once you’re there, 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 journey.
3. Travel spontaneously
Some of the best travel plans are spontaneous; sometimes, life demands that from you. For instance, if you feel overwhelmed and want to take a few days off and go on a solo trip to Thailand. Or, if suddenly, an opportunity 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 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 to pay them promptly so you can manage your debt effectively.