Out Of Budget For Your Diwali Trip? Check Out The Best Travel Loans In India

Diwali is one of the most important festivals in India and is celebrated with a lot of zeal and faith. Family members typically celebrate the occasion by purchasing regular gifts for their loved ones. But what if you wanted to do something different and organise a trip this Diwali? From making reservations for activities like nature hikes and paragliding to purchasing airline tickets and lodging at an exotic resort, all this is sure to put you in a financial bind or possibly push you over your budget. It is here that a travel loan comes to your rescue.

A travel loan is another type of personal loan that you may want to consider using to pay for your trip's expenses. It can be used to pay for your travel-related charges including stay, tickets, paying for a visa if you're planning an international trip, and other additional costs.

Travel loans are more cost-effective and are also accessible for small amounts in comparison to credit cards. Here are the best travel loans you can avail of in India:

You can fulfill your travel fantasies this Diwali by using the travel loan offered by HDFC bank. One of India's biggest private sector lenders, it is recognised for offering a variety of credit options. The bank provides reasonable personal loans for the nation's salaried and independent professionals. Plus, the documentation process is straightforward and easy for customers that are salaried.

With a maximum HDFC Personal Loan ceiling of 15 lakhs and interest rates that start at 11.39%, you can go anywhere in the globe. The loan is approved for HDFC customers in an astounding 10 seconds. Non-HDFC consumers receive clearance within four hours at most. The best part is that you have the choice of selecting your repayment period as a borrower. These repayment modes include online transfers, cheques, cash, etc.

Another well-known lender in the private sector is Axis Bank. The bank provides a variety of goods and services for its clients. It provides customers with a custom-made vacation loan that has many advantages. So, if you're searching for a loan to pay for a domestic or international vacation, Axis bank is a great option to take into consideration.

The holiday loan has a two-month moratorium period, during which there are no EMIs due for the duration of the loan. Customers can easily acquire loans thanks to its simple application process. It is available to all salaried workers who make at least Rs. 15,000 per month. Professionals in the workforce who are at least 21 years old can also apply for this loan.

One of the most well-known non-banking financial companies in the country is Tata Capital. Thanks to the Tata Capital loan program, you can plan your Diwali vacation anywhere in the globe. You can receive up to Rs. 25 lakhs in aid if your budget is tight. However, this is based on your eligibility requirements.

When offering travel loans, Tata Capital does not require any additional security or collateral. These loans are offered with minimal costs and fees. To be eligible for this loan, the applicant must have been employed by the same employer for at least six months. The best part is that loans from Tata Capital are disbursed to the borrower's account in as little as 2 days. Moreover, anyone earning a salary of Rs 20,000 per month is entitled to apply for this loan.

Availing of a travel loan from ICICI bank will give you the flexibility to pick a destination of your choice and also provides a maximum ICICI personal loan cap of 20 lakhs. The entire sanction and application process is easy and hassle-free. Additionally, there is no need for any kind of security or collateral. Starting interest rates are 10.99% per year.

• Address proof

• Identity proof

• Passport size photo

• Income proof

Please note: Different companies may have different specific documentation requirements for travel loans.

Now that you know the ideal travel loans you can opt for for your Diwali trip, go ahead and do the needful. Just remember to check your credit history and eligibility before applying.