Personal Loans Wedding Loans
Travel Loans Step up Flexi EMI Loans Step down Flexi EMI Loans Bullet Flexi EMI Loans Interest Rates Key Features EMI Calculator Eligibility & Documents Fees & Charges Education Loans Travel EMI Offers Pay your loan FAQs Apply Now Personal Loan in India Blog
What is a Travel loan?
Travel loan is a kind of Personal Loan that you can apply for planning a travel. With travel loans, you can take the dream vacation with your loved ones to your desired destination. It takes on all the expenses related to your travel, such as, airfares or any kind of transportation, hotel fares, tour packages, travel gears/accessories, or any type of expenses that are associated with your travel. It is similar to an unsecured Personal loan for the purpose of travel. Loan Repayment terms will totally depend on the time span for which the loan is taken. A loan repayment calculator comes in handy to calculate the instalments and tenure for repayment. It can be paid off on the basis of your cash flow - weekly, fortnightly, or monthly.
What are the current interest rates on Travel Loans?
After scanning various websites, you will realize that a travel loan will come with an interest rate associated with it. The current interest rates for Travel loans vary from 11.49% - 21.00%, and you can avail a loan amount up to Rs. 25, 00, 000/- depending on your eligibility. To know more, go to travel loan interest rates. There are various factors that can determine the interest rate on your loan amount.
Why Tata Capital?
We at Tata Capital believe in offering hassle-free travel loans at speed, without ruining your travel plans with tedious documentation. We want you to plan your trip to your favourite destination without bothering about your finances and make it a memorable experience. At the same time, we ensure that you are able to repay the loan amount with your current cash flows. So, we provide funds as per your financial eligibility.
Moreover, for travel loans, Tata Capital has partnered with known travel agencies. In this way, we can offer you EMI based travel tours that is beneficial for your finances.
Some of the key advantages of taking a travel loan from Tata Capital are -
- You don't need to bring a guarantor
- Conditional pre-closure and part payment can be done after 12 months
- Conditional pre-closure and part payment can be done after 12 months
- You can have a maximum loan term of 6 years
We work with suitable interest rates and you don't need to show us any security cover to avail the loan amount. You can readily get a loan amount for your vacation on the basis of some basic formalities. You just need to go through the following checklist with us.
- You need to provide your source of income
- You need to tell us about your travel plans, which will help us in documentation
- We don't need any security to offer you a travel loan
- Terms and conditions is a mere formality
- Paperwork is mostly done digitally
- Repayment - you can decide how you want to repay; choose your own EMI, tenure and mode of payment - ECS, post-dated cheques, online or other modes
- Interest rates - our interest rates are the best among all lenders; we offer rates and calculations that benefit you
- Amount of loan - as high as Rs 25,00,000/-
- We need some absolutely minimum documentation that is generally available with you.
- We provide online approval instantly after meeting these basic formalities.
We hold proficiency in dealing with contemporary challenges to meet your travel requirements and offer you quality service at the best possible rates. We work with experienced travel consultants who can offer you competitive fares for global destinations. We can assist you with the smallest or the biggest queries related to your travel and finances.
Am I Eligible for a Travel Loan?
All financial institutions operate with an eligibility criterion that is based on the source of income, profession, and age of the person. We consider the following factors for offering a travel loan.
- A salaried person, aged 21-58 years employed in a reputed organisation in the private or public sector with a two-year track record in the organisation earning a minimum salary of Rs 20,000 per month.
- Self-employed professional or businessman aged 25-65 years with a 3-year business record in the same city earning an income of Rs 2,00,000 per year
You can go through the detailed travel loan eligibility criteria.
How much EMI do I Have to Pay?
An EMI calculator comes in handy while calculating the repayment of your travel loan. The loan amount is paid to you generally by crediting it in the bank account shared by you during the application process. The holiday loan comes with defined repayment schedule, depending on the schedule that you have chosen and the loan amount. The frequency of repayment will depend on the schedule that you have chosen - weekly, fortnightly, or monthly.
Every instalment you pay off will go towards paying the principal and the interest. The instalments for repayments will get deducted automatically from the bank details shared by you. So, there is no chance that you will miss out on the repayment, as you have scheduled it with the lender.
You can choose the parameters of your loan by clicking the travel loan EMI calculator.
What are the documents I need?
You need to have some absolutely basic documentation to avail a travel loan. The standard documents submitted need to establish your identity, so you can provide an identity proof (driver's license, passport) or any residential proof for the same. In order to authenticate your financial credentials, you need to submit documents, such as Salary slips of the past 3 months, ITR document or business ownership documents for business owners.
You can check the detailed requirement of documents required for travel loan.
To Travel is to look within Yourself
No money can offer you the joy and pleasure of travelling. It offers you the expanse of life and broadens your horizons of thought. It is important to travel and have some soothing moments with your loved ones. It will help you to rejuvenate and get back to the bustling city life. Travel loans offer you the opportunity to take up such travel trips without taxing your cash flows.
Why opt for a Travel Loan?
A loan for travelling not only gives you the leisure to venture on a dream holiday both within the country and abroad but also makes it possible within your financial capabilities. Travel is majorly considered as a leisure activity and people normally plan trips when there is extra money in their savings accounts or they save for a travel. So, the question prevails, why should you consider taking a travel loan?
- Not to touch the savings - One of the key reasons for taking such vacation loans is to not disturb the savings, which could be needed for contingency situations within the business or family.
- Fixed interest rates - Another reason is, with a fixed interest rate you can budget your travel and structure your repayment plan. The repayment can be planned as per your other financial commitments.
- Speedy approvals - With swift approvals on your travel loans, you need not wait to fly off on your trip.
- Breakdown the travel costs - A travel loan also enables you to spread the holiday costs over a stipulated period of time, which helps in repayment.
Travel Loan EMI Offers
Personal Loans are originated and serviced by Tata Capital Financial Services Limited and are at its sole discretion. Flexi EMIs are applicable for salaried individuals only. Terms and conditions apply.
Recently there have been cases of fraud being committed under the name of Tata Capital or Tata Finance. Customers are requested to read the attached advisory and be aware of misleading advertisements in the newspapers. Click here to read the advisory and be aware of misleading advertisements in the newspapers.