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August 29, 2025
In the past, vacations were synonymous with visiting family or exploring local hill stations and seaside resorts. Travel was a carefully planned, budget-conscious affair. However, the travel landscape has undergone significant evolution.
In comparison, today, with advancements in infrastructure and technology, the world is open to everyone, and curiosity and the desire for new experiences are steadily increasing.
Tourism generates revenue, and governments are spending lavishly to promote tourist attractions to visitors based on historical sites, cultural experiences, leisure activities, sports, or even retail opportunities.
Connectivity has increased, and travelling halfway across the globe is no longer a challenge. Bookings can be made online, covering everything from travel tickets to room reservations, with packages available for exploring the destination.
Instead of saving, it is now about spending on holidays to enjoy new experiences. Travel loans in India have become the new mantra, offering easy affordability with a healthy bank balance or by supplementing expenses with a personal loan in India or a credit card.
Planning your holiday is crucial: Choose a travel date that aligns with school holidays or your work schedule. Select a destination and create an itinerary that ensures a memorable vacation. Remember, a well-planned trip is a financially responsible trip.
Create a Budget: As they say, when you are travelling, pack light and spend wisely. While travelling, aim to be comfortable and plan your funds for transport, accommodation, food, and leisure activities. Set aside money for emergencies and unforeseen changes that may arise unexpectedly.
Arrange for funds: Ensure you have sufficient funds available before embarking on your vacation. If you have been saving in advance for a holiday, it will serve you well. However, if you do not have sufficient funds, consider applying for a personal loan for travel to cover any shortfalls.
Banks and NBFCs offer personal loans for travel and holiday expenses. Salaried individuals can apply for a personal loan to enjoy a well-earned holiday after enduring continuous work pressures. Personal loans for travel in India are typically dependent on the lender’s eligibility criteria. Key points to note before applying for a personal loan for travel are as follows:
Identify a suitable Lender: To apply for a personal loan, you must check if you fulfil the eligibility criteria of the lender. Essential criteria to be noted are:
Negotiate for the best terms: Survey the market offerings for the lowest interest rate and other charges. If you want to repay your loan soon, the prepayment charges will significantly impact the cost of your loan.
Apply for the loan amount required: Determine your budget and then apply for the loan amount you need. Remember, the loan amount you borrow is a form of credit that needs to be repaid responsibly.
Confirm the EMI applicable: Use the EMI calculator to check the EMI you will need to pay for the borrowed loan amount. The EMI should fit comfortably into your monthly budget; if it does not, apply for a lower amount or a longer tenure.
Most lenders offer a convenience to personal apply online, the online process for personal loans, allowing you to apply from the comfort of your home or office with minimal documents easily at hand. This hassle-free process ensures you can focus on planning your trip without added stress.
Unsecured loan: Banks offer personal loans for travel without requiring any collateral. Applicants can apply for a personal loan for travel, holidays, and vacations without providing security or guarantees.
Repayable via EMI: The personal loan amount is repaid through suitable EMI over a tenure of 24 to 72 months. Customers can opt for an EMI according to the amount they can allot towards repayment after accounting for monthly expenses.
Multiple usage allowed: A personal loan for travel is disbursed once and can be used as desired for travel expenses, such as ticket payments, hotel expenses, and other ancillary costs.
Today, a credit card is in the possession of most individuals earning a regular income; some have the benefit of holding multiple credit cards, which can be used to pay for various expenses, including travel. When planning a vacation, a credit card can be used for:
In Conclusion, having a good lifestyle and going on pleasure trips is the new normal. Still, it is a good idea to be conservative and plan your finances so that you can make pleasant memories without compromising your financial health.
