5 Ways To Get Travel Loan for Students, Couples & Solo Travelers

What is a travel loan?

If you are planning for your dream vacation for a long time and worry about how to manage all your travel expenses, then the blog may help you solve your queries regarding how to fund your dream vacation. As you already know that there are a lot of personal loan providers in the market, to help you manage your short-term financial needs.

How does a travel loan work,  there is no such difference between a Travel Loan and a Personal Loan, To make things clear, A Travel loan is a simple short term personal loan as per my experiences

So Instead, Specifically looking for a Travel Loan you can use your Pre-Approved personal loan to fund your dream vacation and enjoy your dream holiday

Benefits of Personal Loan For Travel

  • You get Instant funds to manage your travel expense
  • You can Customize your EMIs tenure between (12-60 months)
  • If you have Pre -Approved Personal Loan you need to submit Minimal documentation

Don’t have any Pre-approved Personal Loan?

No Worries! Now If you don’t have any Pre-approved Personal Loan offers available at your Internet Banking Dashboard,

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You can still fund your dream vacation by getting a loan against your credit card. Yes you read it right you can use your credit card to get a loan against it with Minimal documentation and enjoy traveling as a hobby

As per my experience, most of the credit card provider companies do offer you short term loan against your Credit Card without blocking your credit card

This way you can enjoy your credit card limit along with your loan against a credit card, its a win-win situation for you to enjoy your dream holiday

As per my experience am using an HDFC credit card and don’t get any hassle getting a personal loan against my HDFC Regalia First Credit Card.

Credit Card during your travel also offers you a lot of benefits

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  • Baggage Loss Protection
  • Free Airport Lounge Access
  • Reward Points For every Purchase
  • Extra limits to Manage your Expense

Don’t have any Credit Card?

No worries!

If you Don’t have any Credit Card for Travel Loan offers You can still fund your dream vacation by getting a secured loan against your Fixed Deposit, This is the best method to get a travel loan for students.

As per my experience all the national banks of India ,Do provide you a secure travel loan against your Fixed deposit
You don’t have to break you Fixed Deposit to fund you dream vacation or sum.

If you are looking for How can I get a vacation loan with bad credit? Just go to your bank and ask them to get a loan against your Fixed deposit, the bank provides you travel loan against your Fixed deposit instantly with minimal documentation.

Mostly bank offers you up-to 80% loan against your fixed deposit and it’s purely up to you that how much loan you want against your fixed deposit, it’s always recommended to get loan according to your estimate travel expense.

Don’t have any Pre-Approved loan offer, Credit Card, Or Fixed Deposit for Travel Loan offers?

Travel Loan

Still No Worries!

If you don’t have any Pre-Approved loan offer, Credit Card, Or Fixed Deposit for Travel Loan offers, You can still get a loan to travel and fund your dream holiday.
But now you have to apply for different personal loan providers like

  • Hdfc Travel loan
  • Sbi Travel Loan
  • Axis Bank Travel Loan
  • ICICI Bank Travel Loan

Personal Travel Loan App’s

  • Cashe
  • Capital First Limited
  • Dhanni App
  • Early Salary

The only hassle i do get while getting a loan to travel against above mentioned Personal Loan Providers is that,they need a lot of documentation and some time the process also take more than a week to approve travel loan

Eligibility for travel loan As per my experience you can check the Loan provider Website for a better understanding of the Eligibility Criteria.

  • Applicant Must be a resident of India
  • Age of Applicant Must be above 21 years
  • Applicant Must be a salaried individual with a minimum salary of ₹21,000

Make My Trip travel Loan

Make My Trip the most knowledgeable and trusted travel Website also offers MMT Pay later service you can apply it to and check your Pre-Approved Travel Loan Limit.

But if you are planning a trip to Kasol in December or Himachal Pradesh then, I don’t think you need a travel loan for than just go through our blog Kasol trip budget. 

How do you calculate the loan amount?

Calculate Travel Loan amount

To Calculate the Travel Loan amount you should take the following information,

  • First plan a detailed travel Itinerary for your Dream Holiday Destination
  • Know best planes to Visit and get an idea about how expensive the places are and transportation cost
  • Plan a budget for things to do at your dream holiday destination
  • Do complete research on local food cost, sightseeing tickets, transportation to the best places, Always try to make your own
  • travel plan and stay away from travel agent to save a lot of money during your trip, But it always recommended to ask for a
  • quotation on a customized tour package to get an idea about Travel Loan amount.
  • Take a Note about how much fund you have in your bank account or how much fund you can raise without the loan
  • Then after all the things you are done with Calculating the Travel Loan amount.
  • Apply for a travel loan and enjoy your trip

How do you finance a trip?

 Travel Loan How do you finance a trip

Do most young travelers want to know that How to finance a trip? because they want to know the best and effective method to finance a trip so that they can enjoy their trip without any hassle of managing finance during the trip,

  • The first thing that I personally do to finance a trip, Is I don’t go with a loan to fund my trip,
  • First, I used to save money on recurring basic in Mutual Funds
  • To be on the Safe side a Recurring Deposit (RD) in Any Bank
  • Every Week I am looking for various travel offers on Booking.Com to get discounted deals on my Travel destination and Flight
    Why I use Booking.com is because they do provide free cancellation with a lot of other benefits you can check it.
  • I do plan my own travel Itinerary Which helps me save a lot of money during my trip
  • I used to have local street Food
  • For sightseeing, I used to travel in Auto Rickshaw or local Buses,
  • I Used to stay in Hostels
  • Sometimes I stay in hotels if I get a better deal as I stay in Hotel Mountain green Villa in Manali.

Travel Loan Interest Rate EMI calculator

It always suggested getting a travel loan for the short term, thus protecting yourself from financial crises. Travel Loan Interest Rate EMI calculator helps you to calculate your equated monthly installment for your travel loan

As we know that every bank or Personal loan App do have their own interest rates, sometimes the loan interest rates vary from person to person

Let’s take an example of how much EMI you have to pay for Loan Amount = ₹ 1,00,000 for 2 Years with a Rate of Interest = 10.99%

You get a Loan Amount = ₹ 1,00,000

Loan Duration = 24 Months

Rate of Interest = 10.99%

EMI Amount = ₹ 4,660

Principal + Interest = ₹ 1,11,848

Interest Payable = ₹ 11,848

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