Travel Loans in India – Take off To the Land of Your Dreams Without Further Ado!
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There comes a time when you want to cut off from your daily drill and go on a holiday to enliven your spirits again. But then you check your finances and sigh at not having enough to make it a possibility. Just a regular vacation can fall too heavy on anybody’s pockets these days. But with travel loans in India, you no longer have to sit back and look at the places you want to explore only on travel blogs and magazines!
Be it a hill-station trip in the country or a full-fledged Europe tour, travel loan in India can quench your wanderlust dreams in totality. Pick any place on the globe and travel loan in India makes it possible for you to set your foot there!
Travel Loan In India Is Just Three Steps Away!
It is time to let go of the bother of having to look through pages and pages of documents that banks put one through. Just three steps are needed to avail a travel loan in India quickly.
- Once you download the personal loan app, you will have to fill in a few basic details along with employment and bank account details. This information is necessary to assess the customers’ capacity to repay the loan. Be assured that it remains encrypted and safe.
- A credit line will be assigned once all the details have been verified for its authenticity. The loan amount needs to be decided based on it.
- Some KYC documents need to be uploaded on the personal loan app. A loan agreement consisting of all terms and conditions related to EMI repayment, penalty charges, and foreclosure charge will have to be signed after perusal.
- A NACH form also needs to be signed to activate the auto-deduction of EMI payments in the following repayment tenure. A loan will get sanctioned to you within two working hours!
- When all of this is done, sit back and relax! The loan amount will be disbursed to your bank account in just a matter of two to three days.
A Drizzle Of Eligibility Criteria To Take Note Of!
Obtaining travel loans in India is so quick an affair with the simple and minimal formalities needed. But before you land on the online loan app to make sure your globetrotting wishes are taken care of, a handful of eligibility criteria need to be met:
- An Indian resident
- Age between 21-60 years
- Self-employment or salaried employment: Minimum monthly income of Rs.15000 for self-employed professionals and Rs.12000 for salaried professionals
- An active bank account with all your net-banking details
Documents To Grab Instant Travel Loan In India
Travel loans in India try to make the documentation procedure as simple as possible with no bulky papers to strain your eyes on.
- Proof of identity- PAN card, Voter ID card or Aadhaar card
- Proof of address-Rental agreement, Aadhaar card or utility bills
- Proof of income-Bank statements of the previous three months
- Your photo
Keep a tab on your EMI payments always!
One thing you should keep in check after availing the loan amount is regular monthly EMI repayments. Keep your bank balance sufficient for the auto-deduction of the EMI amount from your attached bank account on the third of every month. In case of delay or non-payment, reminders and notifications will be sent to you on the online loan app. A late fee of Rs.500, along with GST charges, will have to be incurred by you if EMI repayment is delayed whatsoever. Even though a credit score is not necessary, the non-payment of the fee can be highly risky for laying your credit score foundations. This leaves you ineligible for availing travel loans in India in the future.
Here Is Why You Should Choose A Travel Loan In India!
Be it accommodation, flight, or sight-seeing; the loan amount can be used to handle any expense that comes in your travelling expedition. Suppose you want to send your parents on a trip to Manali or newly-weds to a Mauritius honeymoon, travel loan in India does not just help you conquer the places of your dreams but helps you fill in the empty pages of your loved ones’ travel diaries as well!
