Are you planning to travel abroad? Check the bank’s travel loan that’s right for you
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- There are many banks and financial institutions that offer personal loans for national and international vacations.
- People find travel loans better because they don’t have to disrupt their long-term investments
New Delhi: In order to get out of a busy professional life, millennials are now accumulating loans to finance their vacations and trips abroad without breaking the bank. There are many banks and financial institutions that offer personal loans for national and international vacations.
People find travel loans to be better because they don’t have to disrupt their long-term investments, such as breaking their fixed deposits or disrupting other investments. Going on vacation requires a lot like plane tickets, hotel reservations, etc.
Banks such as HDFC Bank, ICICI Bank, Axis Bank offer travel loan. Here’s which travel loan is right for you –
1. Personal loan from ICICI Bank– The interest rate on the ICICI Bank personal loan for the holidays starts at 11.25% per annum. One can benefit from a loan up to Rs 20 lakh. The main advantages include simplified documentation, no collateral or collateral requirements, quick loan processing and disbursement. One can apply for this loan through ICICI Bank’s website, iMobile (ICICI Bank app), by going to the nearest bank branch or by sending an SMS (PL to 5676766).
2. HDFC Bank– HDFC Bank customers are eligible for pre-approved personal loan and receive funds in 10 seconds, non-HDFC Bank customers can get funds in 4 hours. It offers a flexible duration of 12-60 months and repayment options where EMIs start as low as Rs 2,174 per lakh). It offers the ease of no documentation. You can reimburse by check, online transfer, cash or credit card.
3. Axis Bank– Employees or self-employed aged 21 to 60 with a net monthly income of Rs 15,000 are eligible for a personal vacation loan from Axis Bank. One can get a loan between Rs 50,000 and Rs 15,00,000. It offers a flexible payment range of 12 to 60 months with no foreclosure fees. In addition, it offers a two-month moratorium in which no EMI would be charged. NDE begins from the third month. The interest rate starts at 15.75 percent per year.