It is often said that travel engages all your five senses. It indeed does! Buoyed by the growing disposable income and the growth in the economy, Indians have been travelling extensively in recent years. It may not be possible to meet all your expenses from your own pocket, hence the availability of travel loans.
As more and more Indians are travelling, banks and other financial institutions have introduced loan products catering to the segment. Quite a number of leading banks and fintech lenders have come up with travel loans. These loans are nothing but a personal loan product which can be used for the purpose of travel.
A personal loan is an unsecured loan which can be easily availed by individuals. Travel to any place is not only extremely enriching but also enjoyable. But, a trip to any place within the country or abroad can involve a lot of expenses right from the tickets, stay, sightseeing, food, visa, insurance, etc which does mean extra burden on the pocket.
However, with easily available travel loans, you need not worry anymore about the finances for your holiday. Be it a cruise, a wildlife holiday or a road trip!
A travel loan works as the ideal source of finance as these loans are easily available and can be used for any reason.
An online travel loan comes with a host of benefits and features that makes it the ideal choice when you are planning a trip abroad or within India.
A travel loan is not destination specific. Whether you are travelling abroad or to a domestic destination, the process of availing a travel loan remains the same.
Travel loans are easily availed of by downloading the Money View Loans app or applying on the website apply online page. The application process to be followed thereafter is extremely simple and involves just 4 simple steps as detailed below.
Find out the maximum loan amount you’re eligible for a travel line online in 2 minutes
Choose a custom loan amount and the repayment period that suits your financial needs
Provide your personal details and upload the necessary documents, all on the app or website
Get the loan amount disbursed to your account in 2 hours of approval
A good credit score is absolutely necessary to be able to be eligible for any kind of loans. The standard holds good for a travel loan as well.
However, online travel loans from Money View are made available even for those with low credit scores. The minimum credit score requirement to apply for an online travel loan from Money View is 650 on CIBIL score or 750 on Experian Score.
In addition, applicants are evaluated for creditworthiness by our in-house credit scoring model that takes into account parameters other than the bureau credit score. As a result, online travel loans to make your vacations stress-free can be availed even for those with bad credit.
Travelling is something that you do to get recharged and refreshed from the daily stress of work and routine. When you avail of a loan to fund your travel requirements, you surely do not want to avail of a loan on a high rate of interest and processing fees.
Travel loans from Money View come with an extremely competitive rate of interest which doesn’t drill a hole in your finances.
Read to learn more about the interest, processing charges and other penalties that come with Money View loans for travel.
|Fees & Charges||Amount to be Paid|
|Interest Rate||Starting from 1.33% per month|
|Loan Processing Charges||Starting from 2.5% and going up to 6% of the approved loan amount|
|Part/Full Payment of the Loan (Loan Foreclosure)||
|Interest on Overdue EMIs||2% per month on the overdue EMI/Principal loan amount|
|Cheque Bounce||Rs.500/- for every bounce|