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As the world leaves the pandemic behind, there is a growing appreciation for the great joys of life. Travelling to a new city, taking a vacation with friends, and checking destinations off your bucket list are just some of the things we took for granted.

With nations around the world opening their borders and inviting tourists, now is the best time to plan your travel. And if you do not want to dip into your savings or break that long-cherished fixed deposit, you should consider funding your vacation with a personal loan for travel.

Personal loans are unsecured loans – you don’t need any guarantor or collateral – to get the funds. They are easy to get, and simple to use. Most lenders offer one with minimal paperwork. And you can pay back the loan over a convenient tenure.

And they seem to be growing in popularity too.

A recent study found that about 120 million personal loans were disbursed by banks and non-banking finance companies (NBFCs) between March 2021 and March 2022. Another survey found a more than 10% jump in loans taken for travel across India.

But what seems to be driving the rise in personal loans for travel?

Small, medium, and large loan amounts
Personal loans come in varying sizes. You can choose an amount as small as Rs. 1 lakh or even as large as Rs. 35 lakh to finance your travel goals. So, whether you are planning a vacation in Bali or a Euro trip across Europe – a personal loan has got you covered.

Easy eligibility criteria
Most lenders have their own eligibility criteria to approve your loan application But, if you are a salaried employee with a reasonably decent monthly income and a good CIBIL Score, you can expect to get a personal loan with minimal fuss.

Multiple repayment options
Getting a personal loan is easy and you can choose from multiple repayment options that suit you best. Longer repayment tenures mean lower instalments (but higher interest payments). Look for a loan tenure that leaves you with enough money to manage your monthly expenses.

Flexi Loan option
Some lenders offer flexible variants of the standard personal loan. Under this option, you may be assigned a loan amount that you can withdraw from as and when you need money. And you’re charged interest only on the amount that you have utilised.

Money in 24 hours*
You can book your travel at a moment’s notice with a personal loan. Approval usually takes very little time, and the money is transferred to your bank account within a day.

Lenders such as Bajaj Finserv offer online personal loans that you can use to manage your travel expenses. Borrow a loan amount of up to Rs. 35 lakh and get the funds in just 24 hours. You can visit the website and complete the simple application process in a matter of minutes.

How to get a personal loan for travel from Bajaj Finserv

Step 1: Visit the Bajaj Finserv website

Step 2: Click on the ‘Apply’ button on the page to start your application

Step 3: Enter your mobile number and the OTP sent to your phone

Step 4: Enter your basic details such as your full name, PAN, date of birth, and PIN code.

Step 5: Click on ‘Proceed’ to visit the loan selection page.

Step 6: Choosefrom the loan variants and select the details of the loan you wish to take.

You will be prompted to complete your KYC. Once done, you can submit your application. A representative from the NBFC will contact you to guide you on your next steps.

That’s how easy it is to apply for a personal loan. Plan your next trip without worrying about the expenses with a personal loan from Bajaj Finserv.

Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same.

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