Are you struggling to get funds to travel to your dream destination? No worries.

You can avail of a travel loan for visiting your favourite destination without having to worry about your finances. The travel industry is flourishing, and people are excited to see new places and experience new cultures and cuisines. 

What is a Travel Loan?

A travel loan is a personal loan that you can avail of without any collateral. You can take a personal loan for travelling purposes from the online website portals of financial institutions and banks without facing any trouble at all. TripMoney is one such platform that provides easy vacation loans with minimum documentation.

Conditions of Availing a Travel Loan

A travel loan can be availed easily by anyone. However, there are certain things to keep in mind.

  • It is an unsecured loan which means that for taking a travel loan you do not need to pledge any of your personal property. Some travel loans do not even require you to produce a guarantor.
  • Travel loans can be obtained almost instantly online. Platforms like TripMoney are already providing hassle-free loans. You do not need to travel anywhere physically to get loans. You can have all the information online and even fill up the application form online. A computer and an internet connection is all you need to get a travel loan.
  • You can utilize the travel loan not only for funding your ticket expenses but also for your accommodation, sightseeing, transportation, and other expenditures.
  • Being an unsecured loan, the travel loan amount is decided by your credit history and CIBIL score, your salary and employment type.
  • You can enjoy flexible repayment options. It is usually up to you to decide the repayment tenure. You can repay the loans in Equated Monthly Installments or EMIs. You also get the option of closing off the loan before the tenure is over by making a pre-payment or part payment.
  • The process of applying for an online loan is simple. Minimum documentation is required, and no paperwork is involved. Only the Pan Card, Aadhar Card, and Date of the Birth certificate are needed. The whole process can be conducted online with no hassle.
  • Travel loans have lower interest rates and can be obtained instantly. There are no hidden charges for taking a travel loan.

Thus, you can borrow money for travelling within the country or going abroad. You should pay the EMIs on time so that your credit score remains unaffected.

Eligibility Criteria for Obtaining Travel Loans

For taking a travel loan, you should fulfil certain criteria. These criteria may vary depending upon the lender but most of them remain constant.

  • The applicant should be an Indian citizen and be a salaried individual or self-employed, with a monthly income.
  • The age of the applicant should be between the specified limit.
  • The applicant should possess the identity and address proofs as required.
  • The applicant should be able to produce salary slips and have an employee ID.

Why Choose TripMoney for your Travel Expenses?

MakeMyTrip brings you TripMoney to satisfy your travel desires and make it affordable. It adds an oomph factor to your travel. We offer loans of up to Rs. 1 lac to customers. You can repay the loan in one month or a maximum of twelve months. The rate of interest charged monthly is 1 per cent, making your pocket less burdened. The eligibility is checked through your Pan Card and the CIBIL Score digitally.

How to Apply For Travel Loans?

You need to open the MakeMyTrip app, head over to the TripMoney section, and get your eligibility calculated.

You can follow these simple steps to check if you are eligible for obtaining a travel loan.

  • Get the Estimated Approved Limit: Fill up the correct information in the application form to get the approved credit limit.
  • Finish your KYC: You need to accept the offer and substantiate your identity online quickly in 2 minutes.
  • Arrange for Auto Repayment: You can submit your bank details so that the EMIs get automatically debited from your account. Your account is debited only when bookings are made on Goibibo and MakeMyTrip using the credit money. 

Benefits

Customers can get an easy credit and use it to book hotels and flight tickets without spending all their savings. You can even give a luxurious travel experience to your friends and family with the same credit limit. You can also avoid the trouble of bulk booking through easy EMIs, allowing you to pay less while booking so that the money can be saved to enhance your travel experience.

You never have to worry about your credit limit expiring. So long as you continue to pay your monthly;y EMIs on time, your credit limit shall never expire. Instead, it will increase. Ongoing offers can also be availed while booking with TripMoney. If you cancel bookings, the money will be refunded to your TripMoney account. Although, you need to bear the cancellation charges throughout your loan.

TripMoney Features

We offer amazing features which can help you obtain a loan for funding your travel expenses easily.

  • You do not have to make any down payment for taking a travel loan.
  • The rate of interest is comparatively low as compared to major banks providing travel loans.
  • The repayment tenure is flexible, starting from 1 month to 12 months.
  • Maintaining on-time repayment can increase your credit limit for a lifetime.
  • Paperless framework to keep you hassle-free
  • Better Transparency and round-the-clock assistance

If you fail to pay the EMIs on time, your CIBIL score may get affected, and you may be charged with a late payment fee as well. So, it’s better to pay all EMIs well on time and increase your credit line with TripMoney.