Apply For A Personal Loan For Travel - Personal Loan Blog - Tata Capital

Finance your holiday using a Personal Loan

Feb 27, 2017

There would be very few people who are not interested in travelling for leisure. After all, travelling gives us the much-needed break from our regular lives and helps us rejuvenate.

For most people, if it's about traveling to nearby places, then there is nothing much to think about. But if it's a foreign tour, then it requires a lot of money. This is the reason why foreign travel is avoided by most Indians.

Take for example going to Singapore. On a per person basis for a week long trip, it can cost you Rs 35,000 to Rs 50,000. The cost of a Dubai trip is around Rs 50,000 to Rs 60,000. And if you are planning for a 2-week trip to Europe or America, then it can cost you anywhere between Rs 1.5 lacs and Rs 2.5 lacs. So foreign travel is not cheap. And saving money till you have all the money required, means that you might have to wait for years before you get to travel.

It is here that personal loans can come to your holiday's rescue. Since use of money borrowed as personal loan is not restricted, you can take a holiday loan to pay for your expenses on airline, train or bus fares, accommodation & sightseeing for self and family members.

Most lenders are ready to give personal loans at rates ranging between 14% and 20%. The lower it is, better it will be for you as your EMIs will be reduced.

There might be some people who think that taking a loan to travel is not a great idea. But its also true that if one continues to wait for years to accumulate enough money to travel, then the best age of travelling will be long gone. Hence, it suggested to take a balanced approach. Save some money on your own and for the rest, avail travel loan.

So do give a deep thought to this option, personal loan facilitates foreign travel and cuts down long years of wait.