In another few weeks, India will see the onset of summer, the best time to plan a vacation for many. Most of the schools and colleges are closed, making it convenient for families to embark on some exciting tours.
Most travels during summer vacation are planned, but for some families and individuals, the decision is last-minute. Before everything comes the decision to zero in on your destination.
For example, if you're drawn to the mountains, Bhutan and Nepal could be the perfect choice, offering some stunning trekking trails, ancient temples, monasteries, and picturesque villages. If you're fond of beaches, Thailand, Bali, Fiji and Sri Lanka could be your go-to options. Within India, Himachal Pradesh, Kashmir, and Andaman and Nicobar Islands offer everything you need at your dream summer vacation destination.
Whether you plan a domestic trip or an elaborate international one, it's important to plan your leaves and most importantly finances.
Why consider a personal loan?
If you haven't been saving for months or want to keep them intact while enjoying a vacation, an instant loan can be your go-to option.
Sometimes a last-minute vacation may prove to be a bit more expensive than a planned one. Airfares and accommodation may be available at higher prices, and your savings and credit card may not be enough to cover all finances.
This is when an instant loan for a vacation comes into play. Instant personal loans are disbursed to your account in no time and you can use these funds to book tickets and accommodation right away. You can also use the funds on your travels, to fund adventure activities, shopping, eating and other things.
If you are looking forward to availing a loan for your last-minute summer vacation, you can apply for a personal loan up to Rs 50 lakhs through the Moneycontrol app and website. In a 100% paperless process, Moneycontrol offers personal loan offers from eight lenders on its platform. The interest rates for these loans start at as low as 10.5% per annum.
Benefits of an instant loan for summer vacation
- Last minute funds: If you are running short of cash for your upcoming travel plans a personal loan could be helpful to meet the expenses, especially the travel and accommodation costs.
- Quick access without any paperwork: Instant loans do not require a lot of documentation, making the loan application process smooth and hassle-free. The main benefit of instant loans is the quick disbursal of funds, which could be helpful to meet your last-minute vacation expenses.
- Flexible repayment: You have the option to spread out your repayment tenure, thus avoiding any undue financial stress.
- Doesn't need any collateral: Instant loans for travel also do not require any collateral, meaning you do not have to mortgage your assets to take out the loan.
Moneycontrol has teamed up with eight lenders to offer 100% digital instant loans of up to Rs 50 lakhs, which could be helpful to fund your summer vacation. You can get the travel loan in just three steps by finalising the loan offer, e-KYC process and setting up of EMI payment. The interest rates for such loans start at as low as 10.5% per annum.
Key factors to keep in mind before applying for a personal loan to fund summer vacation
With the advent of digital lending platforms it has become convenient to fund your dream vacation with a personal loan. You can opt for a travel loan for your last-minute summer vacation plan and repay the amount conveniently through EMIs. Here are a few key factors to consider before applying for a loan:
- Many credit card providers also offer the option to convert your travel expenses into EMIs. However, if you are using a credit card for travel bookings consider the high interest rates and EMI conversion fees charged by card issuers.
- It’s advisable to plan your summer vacation well in advance and build up a fund for the trip by saving small amounts regularly.
- While selecting a travel loan offer, evaluate the interest rates, charges and fees, as well as repayment terms and conditions to bag the best borrowing deal.
- You can get additional financial support for your summer vacation through a personal loan. But also, don’t forget to explore travel deals and family package tours during the summer holiday seasons for a budget-friendly trip. Almost all leading travel agencies and online travel platforms offer attractive deals during summer vacations.
Conclusion
To sum up, a summer vacation could bring the much-needed relief from the hectic office schedule and busy urban life. A personal loan could be a suitable choice if you are running out of cash for your last-minute summer vacation bookings. Exploring summer vacation deals and multiple personal loan offers could be helpful in enjoying your summer vacation without burning a hole in your pocket.
Disclaimer
This piece/article was written by an external partner and does not reflect the work of Moneycontrol's editorial team. It may include references to products and services offered by Moneycontrol.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
