What can Personal Loans do to aid you in planning your next trip?

Description:Avail IDFC FIRST Bank’s travel loan to cover the travel related costs, including booking flights tickets, as well as accommodation in hotels.

The past two years have proved to be difficult for us all. The COVID-19 epidemic affected the entire globe and led to massive losses of lives and livelihoods. With lockdowns and work-from-home becoming the norm, a lot of us had to remain in our homes for extended periods. For travelers these times were more difficult as they had to limit their impulses.

With the threat of a pandemic diminishing and the governments across the world eliminating travel bans, it is now possible to start thinking about your next trip. Spending time with family or friends can allow you to forget all the worries and restore the peace of your mind.

Sometimes, plans for travel may happen on the spur of the moment and leave you without time to plan funds for flights and hotel reservations, as well as shopping, or other travel-related costs. This is when the travel loan HTML0can help you out. Also called an”emergency” loan or an emergency loanor personal loan They are crafted to assist you in tackling the various travel expenses with no difficulties.

There are a variety of bank and other non-banking finance firms (NBFCs) provide travel credit in India We will look into this one. IDFC First Bank’s travel Loan and its benefits, features and benefits, plus more.

These are loans with multiple purposes.

IDFC First Bank’s Personal Loan Personal Loanfor Travel is an loan that can be used for multiple purposes. It allows you to make use of it to cover the costs associated with traveling, such as booking tickets for flights, hotels accommodation, purchasing travel insurance, obtaining an entry visa (in the event for an out-of-country trip) and so on. Without any hassles.

There could be a variety of miscellaneous costs during your trip like buying food, dining out and sightseeing, adventure and so on. Furthermore, you may face unexpected financial burdens in the course of your trip as a result of an emergency medical situation or unavoidable mishap like lost luggage or passport.

With an individual travel loan you will be able to pay for all the expenses mentioned above. It is a multi-purpose loan that has no limits on its use. The bank will not ask you what you will do with the amount of your loan.

There is no requirement to promise any collateral

Typically, a lender will ask for collateral when you request the loan. The collateral serves as an assurance that you’ll pay back the loan. When you take advantage of IDFC First Bank’s personal travel loan you don’t have to put up any collateral.

All you have to be able to meet the personal loan eligibility requirements and have a satisfactory credit score. If you meet these requirements then you are eligible to apply for a personal online loan through the IDFC FIRST Bank website and the money will be deposited directly into your bank account after approval.

Simple eligibility and minimum documentation

The criteria for eligibility to apply for our loans is easy since these loans are provided to self-employed and salaried individuals. You are eligible to apply for an advance on your travel expenses if you satisfy the following criteria below:

• Your age must be at least 23 (if you’re an employee) and at least 25 (if self-employed)
• Your maximum age at date of loan maturation is not to exceed 60 years, or the age at which you retire.
• If you’re self-employed, then you must have experience in business of at least 3 years
• You need to earn enough to cover the EMIs on your personal loan

In addition, the bank needs just a few basic documents to process the loan application. These are the PAN number, Aadhaar cards, travel plans, past three-month bank statement as well as debit card information and an e-stamp, or e-sign.

Rates of interest competitive as well as fees

Since personal loans are considered to be unsecured loans, lenders typically cost a bit more in the way of interest. It can range between 14% to 18 percent p.a. At IDFC FIRST Bank you are able to avail of a personal credit line for travel HTML0at an extremely affordable rate of interest at ratesstarting at 10.49 percent, which makes this a great alternative to cover travel-related expenses as opposed to high-interest credit cards which can add unnecessary costs to your budget.

Additionally, the bank charges minimal processing fees and there aren’t any extra charges that could mean that you do not need to fret about excessive interest charges The loan EMIs arewhen you apply for a travel credit. You can also select an affordable term of up to 60 years and make sure you keep your EMIs within the budget you have set.

Comfort and convenience guaranteed

When you join IDFC FIRST Bank, customers will also have the ultimate convenience and comfort. Apply for a travel loan from the comfort of your office or home. The process of loan application and approval are completely online, meaning you don’t need to get outside of your home for any reason.

In addition, the loan will be made available quickly, so you do not have to wait for a long time to begin your planning for your next vacation. In most cases, the bank can take approximately 24 hours for the transfer of loan to your account following successfully confirming your application and the documents.

Modifications as you wish It

IDFC The personal loans offered by FIRST Bank are extremely customizable, meaning that you can select the amount of your loan that isand time period that meets your specific needs. For instance, if you’re planning to go on a trip in India it is likely that you’ll require just a little amount. However, if you are planning to travel abroad, you could require more money. With the help of customisation it is possible to avoid excessive EMIs.

You can track all of your bank and loan needs using IDFC FIRST Mobile Banking App. IDFC FIRST Mobile Banking Application.

How do I submit an application to a travel credit through IDFC First Bank

The process of applying for a personal loan to travel is simple. All you have be able to follow is the instructions below:

• Step 1: Go to” “Travel Loan‘ page on the official website of the bank.
• Second Step: click the ‘Apply Now’ button.
• Step 3. Fill in the details of your residence, along with your PIN codes, your mobile phone number and your date of birth.
• Step 4: Download all the necessary documents and provide any additional information
• 5. Wait until confirmation that your application for loan has been approved, as well as other documents.

Conclusion

The use of a personal loan could be the best way to cover the cost of travel. With benefits such as quick processing, simple eligibility criteria as well as a reasonable interest rate and an application that is completely online and secure, the IDFC First Bank’s personal loan for travel can aid you in planning an unplanned trip without issues. Apply below to make an application now!

 

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The content is generic in nature and intended for solely informational purposes. It’s not a substitute for advice specific to your particular situation. This information may be subject to revision, updating or completion, revision as well as verification and modification, and may be changed substantially. This information isn’t a part of any plan to distribute or use by anyone in any country where such distribution or use is in violation of legislation or regulations or be subject to IDFC FIRST Bank, or any of its subsidiaries to registration or licensing conditions. IDFC FIRST Bank cannot be held accountable for any direct or indirect risk or obligation caused by the use of this information making any financial decision in reliance on the information and other information provided. Consult your financial advisor prior to you make any investment decision.

The benefits, features and deals that are mentioned in the post are valid as of the date of publication on this blog. It is subject to change at any time without notice. The content herein is subject to any other specific product terms and conditions as well as any terms and conditions that are applicable. Please refer our website www.idfcfirstbank.com for latest updates.