TRAVEL LOAN

Personal Loan by Bank/ NBFCs	Interest Rates Per Annum	Processing Fee
SBI Personal Loan	11% onwards	Up to 1.50%
HDFC Personal Loan	10.50% onwards	Up to 2.50%
ICICI Personal Loan	10.50% onwards	Up to 2.25%
Citibank Personal Loan	10.99% onwards	Up to 0.5%
Axis Bank Personal Loan	10.49% onwards	Up to 2%
Kotak Personal Loan	10.99% onwards	Up to 3%
Tata Capita Personal Loan	10.99% onwards	Up to 3%
Bajaj Finserv Personal Loan	11% onwards	Up to 3.93% + GST

Note: Please note that the rates mentioned above are subject to fluctuations in the financial market and may change at the lender's discretion.

Travel Loan Interest Rates & Fees

Travel loan interest rates commence at 11.99% p.a. These rates fluctuate depending on variables such as creditworthiness and prevailing market conditions. Generally, lower rates are extended to individuals with strong credit scores and lower risk profiles.

Below is a table highlighting travel loan interest rates and associated charges:

Travel Loan EMI Calculator

A travel loan EMI calculator proves to be a valuable tool for approximating your monthly installment payments when considering a travel loan. It takes into account variables like the loan amount, interest rate, and loan tenure to compute the equated monthly installment (EMI).

Utilizing a travel loan EMI calculator is a straightforward process. Just input the loan amount, the loan duration, and the interest rate. The calculator will then provide you with an estimate of the monthly EMI for your travel loan.

Eligibility Criteria for Travel Loans

While eligibility criteria for travel loans may differ among various banks, the typical criteria for assessing eligibility for travel loans are as follows:

Reasons To Apply For A Travel Loan

A travel loan can be a valuable financial tool that not only helps you explore the world but also provides financial flexibility and benefits that enhance your overall travel experience.

• Instant Fulfillment of Travel Dreams: Travel loans provide you with the financial means to embark on your dream vacation without having to wait for years to save up for it. This allows you to fulfill your travel aspirations sooner rather than later
• Flexible Repayment Options: Many travel loan providers offer flexible repayment plans, allowing you to choose a tenure that suits your financial situation. This flexibility makes it easier to manage the loan without straining your budget.
• Budget Management: With a fixed loan amount, you can plan your trip more efficiently. It helps you set a budget for your travel, ensuring that you don't overspend or dip into your emergency savings.
• Opportunity for Luxurious Travel: Travel loans enable you to explore luxurious destinations or experiences that may have been financially out of reach otherwise. Whether it's staying at a high-end resort or going on a luxury cruise, a travel loan can make it possible.
• Avoid Depleting Savings: Taking a travel loan allows you to keep your savings intact for emergencies or other financial goals. You won't have to deplete your savings to fund your vacation.
• Access to Exclusive Deals: Some lenders offer partnerships with travel agencies or platforms, providing borrowers with access to exclusive travel deals and discounts.

Documentation For Travel Loan

The documentation necessary for a travel loan application may differ from one lender to another. Below is a general list of documents typically needed when applying for a travel loan.

• Identity Proof: Passport, driver's license, Aadhaar card, Voter ID
• Address Proof: Utility bill (electricity, water, or gas), bank statement
• Income Proof: Recent payslips, Income Tax Returns (IT returns)
• Photographs: Recent passport-sized photographs

Types of Travel Loans in India

Whether you're embarking on a foreign adventure or exploring the beauty of your homeland, travel loans can be tailored to your preferences and needs.

Here are two categories of travel loans available, each based on specific eligibility criteria:

• - International Travel Loan: These loans are designed for individuals planning overseas journeys. International travel loans cover various expenses such as airfare, accommodation, sightseeing, and tours. Borrowers can apply for themselves and their family members, and these loans often offer higher borrowing limits compared to other travel loan types.
• - Domestic Travel Loan: Domestic travel loans are intended for those exploring their native country. The loan amount for domestic travel typically falls below that of international travel loans. Borrowers can utilize these loans to fund expenses for themselves and their family members during domestic trips.

Choose the type of travel loan that suits your travel aspirations, whether it's a global adventure or an exploration of your own backyard.

Enhance Your Odds of Securing a Travel Loan

Travel loans can be a valuable financial tool for making your travel dreams come true while maintaining financial stability. However, it's crucial to borrow responsibly and ensure that you can comfortably repay the loan.

• Improve Your Credit Score: A strong credit score significantly enhances your chances of loan approval. Lenders view borrowers with good credit as less risky.
• Calculate Your Budget Accurately: Determine the exact amount you need for your trip. This ensures you request a loan amount that matches your travel plans.
• Research Lenders: Not all lenders are the same. Research various lenders, including banks, credit unions, and online lenders, to find one that suits your needs.
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• Prepare a Strong Loan Application: Gather all necessary documents, including proof of income, employment history, and identification.
• Choose the Right Loan Type: Select a loan type that aligns with your needs. Personal loans are commonly used for travel, but some lenders offer specialized travel loans with tailored terms.
• Offer Collateral: If you have valuable assets like property or investments, you may consider offering collateral to secure the loan. This reduces the lender's risk.

Why Choose CredBharat for Travel Loans?

Here are the reasons why CredBharat is the ideal choice for travel loans:

• Secure approval for your loan in a matter of minutes.
• Access funds without putting your assets at risk.
• Competitive Interest Rates commencing at just 11.99% p.a.
• Suitable for a wide range of purposes.
• Convenient repayment, select your desired schedule.
• No Prepayment Fees or additional penalties.

Steps to Apply for a Travel Loan

To ensure your travel loan approval with CredBharat, it is important to follow these steps:

1. 1. Visit our website and create an account.
2. 2. Fill out the online application form with your personal and financial details.
3. 3. Choose your desired loan amount and repayment term.
4. 4. Submit the application, and our team will review it promptly.
5. 5. Upon approval, the funds will be disbursed to your account quickly.

Travel Loan Repayment

Travel loan repayment entails returning the borrowed sum alongside the accrued interest over the predetermined loan term. Lenders offer various payment methods to ensure convenient and hassle-free options for borrowers, including pre-payment and part-payment.

• - Pre-payment enables borrowers to make an early lump sum repayment, thereby reducing both the loan principal and the interest burden.
• - Part-payment involves making partial repayments towards the principal amount, effectively reducing the overall interest paid and shortening the loan tenure.

Three Methods for Repaying a Travel Loan

There are three primary methods of repaying a travel loan:

• - EMI (Equated Monthly Installment): You can settle the loan principal and interest by making regular fixed monthly payments throughout the agreed-upon loan tenure.
• - Online Payment: Repayments can be conveniently made through online platforms or mobile applications using options such as net banking, debit cards, or mobile wallets.
• - Cheque or Demand Draft: Alternatively, you have the option to repay the travel loan by issuing a cheque or demand draft in favor of the lender for the specified loan amount.

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