Wouldn’t it be great if you could take a luxury vacation while staying in budget? It is now possible with the help of various travel loan or other financing options.
To utilise these options, all you need to do is to gather relevant information, so that, you can make a sound choice.
People save their entire lifetime to take a luxury vacation once if possible. But spending all your money on a luxury vacation is not a good idea. Most people would say NO! It is because saving for your later years is also as important as enjoying your life now.
In case you want to know about all the available options for travel loan or funds that can be used by people, check out the list given below.
1. Credit cards
One of the first financing tools that you have, which can be used for luxury vacations, is a credit card. It might not be a direct travel loan but can definitely be swiped wherever necessary. It can cover expenses of food, hotels, travel tickets, and more. However, using this particular financing tools can result in a very high-interest rate. On the other hand, personal loan interest rates are quite affordable for borrowers. In short, use credit cards for your travel plans only when you can manage to repay such high interest. Otherwise, it can put you in a serious financial crisis.
2. Personal loans
The second option which is available for travellers is a personal loan. The best part about this financing service is you can check personal loan eligibility online anytime and anywhere. Moreover, it is a financing service that is available to all irrespective of their income bracket. Personal loans can also be acquired on short notice, which makes them ideal for last minute travel plans. Another thing about a personal loan is that you can use them for anything and everything since there is no limit whatsoever.
3. Travel loans
Travel loans are the first thing that comes to mind when we think about financing a vacation. However, a travel loan can only be used to fund the trip and nothing else. Hence, if you are planning to borrow a specific travel loan, then it might create some limitations for you in the future. Other than this, such financing alternatives are not provided by every institution in India. It means you will not be able to shop around for a travel loan like you extensively would do in the case of a personal loan. Therefore, you need to decide carefully.
4. Your savings
The last option that can be considered if you are adamant about taking a luxury vacation is using your savings. However, it is suggested not to do so! Savings are not only meant for entertainment but also to support your life in case of a financial crunch. Moreover, your savings will also help you in emergencies and health conditions. Therefore, considering a personal travel loan is the best way to fund your vacation while staying in budget. You can even use online EMI calculator to understand what you would be paying every month against your borrowed personal loan.
Bajaj Finserv has financing alternatives such as personal loans, EMI credit, business loans, and home loans available. These services come with various pre-approved offers that can be utilized by borrowers to make the loan transaction hassle-free. It even results in a less time-consuming borrowing experience.
You can give your name and contact information online to see your special pre-approved loan offers today.