4 Easy Ways to Fund Your Dream Holiday - Kotak Bank

11 MARCH, 2020

What’s life without a holiday escape every once in a while? Well, dream holidays make for an important part of living life to the fullest. From experiencing different locations and cultures to unwinding amidst bliss, you deserve it all. However, dream holidays are expensive. This is especially true if you are looking to go on a luxurious trip to a foreign destination. But you need not fret! There are numerous ways in which you can land yourself a dream holiday soon enough.

Here are some ways that you can employ to fund your dreamy and memorable holiday plan:

  • Put aside a travel fund – Keep a strong vision of your dream holiday and start a travel fund. Put an estimate to the amount that you will require to fund your trip. Start by putting away small amounts whenever you feel like. As the days pass by, increase the amount. If you have enough time before you plan your holiday, be surprised to find a great deal of saved funds that can cover a big chunk of your total expenses.
  • Get a travel loan – Well, you may be a little wary about this route. However, it is a very good and convenient way to fund your dream holiday. Several banks offer a travel loan that is a type of personal loan to fund your holiday. This offering gives you a great opportunity to experience luxury destinations and live through elaborate cruise and safaris, without worrying about the available funds. No matter what your holiday expenses would be, travel loans ensure that you can afford it.
  • Start an automated savings account – Like investing for a long term life goal such as education or marriage, you can also start investing for your dream holiday. Automated savings are a great bet especially if you think that you can be driven to spend your savings on things, other than travel. The investment fund will ensure that a certain amount of money is automatically deposited into a savings account every month.
  • Seek travel rewards – Thanks to the immense market competition, a growing number of brands offer travel rewards. Credit companies collaborate with airlines, hotels and restaurants to bring you great savings. Get a credit card that will give you reward points while you are enjoying your dream trip. It can be an invaluable resource to fund your next dream holiday.

Latest Comments

Leave a Comment

200 Characters

Related Information


Read Next

medical-emergency-article

Quick Personal Loan for Medical Emergencies

Manage emergencies with quick personal loans. These loans are provided with quick disbursals. 

marriage-hero-article

Avail Personal a Loan While Getting Married

Getting a personal loan for marriage is easy and repayment for a marriage loan is flexible.

is-securing-your-childs-future-a-childs-play

Personal Loan for Home Renovation & Improvement

A personal loan for home renovation is quick along with competitive interest rates and flexible tenures. 

Disclaimer: This Article is for information purpose only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank make no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.

icon

Frequently Asked Questions

What can a personal loan be used for?

Personal Loan can help you meet unexpected expenses such as wedding expenditure, school or college fees, dream vacations, home renovation projects or even for the purchase of consumer durables. 

 

Applying for a personal loan is a lot easier, quick, and convenient with Kotak Mahindra Bank.Click https://www.kotak.com/en/personal-banking/loans/personal-loan.html to apply for the same. 

 

Was this information helpful to you? Yes No

Do I need to provide any security or collateral to obtain a personal loan?

No, you do not have to provide any security or collateral to obtain a personal loan. Personal loan is a type of unsecured loan. This essentially means that it is not backed by the guarantee of collateral. You are not burdened by the need to generate collateral like gold, property or shares, as with other types of loans. As there is no security to assure loan repayment, the bank will focus on the income and financial stability of the applicant. 

Was this information helpful to you? Yes No

What are the benefits of taking a personal loan with Kotak?

There are several benefits of availing a personal loan from Kotak bank. Some of the most notable benefits include:

  • prepaymentInstant approval – The bank approves the loan at a quick rate and this makes the process much easier to serve different financial purposes.
  • Easy Documentation – It comes with minimal documentation requirements to help you save time and cater to your emergency financial needs without any hassle.
  • Versatile usage – The personal loan can be used to fulfil many purposes. From funding a dream wedding to serving a medical emergency, it can be used to serve different planned and unplanned financial needs.
  • Attractive interest rate – The personal loan is made more convenient with an attractive rate of interest starting at 10.75 p.a.
  • Part Prepayment facility – In case of excess funds/financial liquidity , you can reduce your loan burden with part prepayment

Was this information helpful to you? Yes No

What is the eligibility criteria to apply for a personal loan?

The eligibility to avail Personal loan is as follows :

  • All Indian residents who are employees of either MNCs, Public and Private limited companies with a minimum age of 21 years and maximum age of 58 years are eligible for a personal loan.
  • Other Personal loan eligibility criteria :
    • Income Net monthly salary of Rs. 20,000/-
    • Minimum educational qualification - Graduate
    • Years in city - Minimum 1 year
    • Total work experience - Minimum 1 years

You can apply for a personal loan by following the below steps:

On Mobile banking

  • Go to Apply Now
  • Personal Loan ( If eligible)

On Net Banking

  • Go to Banking
  • Apply for Preapproved Personal Loan (If eligible)

Or

By simply clicking https://rcasprod.kotak.com/personal-loan?source=website&banner=ProductPageApplyonlineTab

Please Note: The same would be subject to approval. The time frame for the personal loan is 10 working days if approved.

Was this information helpful to you? Yes No

What is the best way to apply for a personal loan?

You can apply for a personal loan by following the below steps:

 

On Mobile banking

  • Go to Apply Now
  • Personal Loan ( If eligible)

On Net Banking

  • Go to Banking
  • Apply for Preapproved Personal Loan (If eligible)

Or

By simply clicking https://rcasprod.kotak.com/personal-loan?source=website&banner=ProductPageApplyonlineTab.

Please Note: The same would be subject to approval. The time frame for the personal loan is 10 working days if approved.

Was this information helpful to you? Yes No

People also looked at