Personal Loan for Travel

Are you dreaming of a holiday but don’t quite have the money to make it happen? Do you find yourself imagining the adventures you could have in a foreign land, or picture yourself lying on a deserted white beach, listening to the waves? Well, your holiday daydreams may not be as distant as they seem. With a Kotak Personal Loan for Travel, you could be stretched out on that sun lounge in no time!

What does a personal loan for travel mean?

At Kotak, a personal loan for travel is simply a type of unsecured personal loan that is intended for travel, holiday, and honeymoon purposes. It can help cover the costs associated with your holiday, such as airfares, accommodation, tours, and even new travel accessories.

How does a personal loan for travel work?

An unsecured personal loan used for travel works in the same way as a regular unsecured Personal Loan. You can borrow anywhere between INR 1,00,000 and INR 15,00,000, depending on your needs, and you can choose a loan term between 1 to 5 years.

The length of the personal loan for travel will determine your repayment amount. Your repayments would be in the form of EMI.

How is the personal loan for travel disbursed?

Your personal loan for travel will be paid to you in one lump-sum, generally directly into your bank account, so you can easily access your money and start planning your trip.

This loan comes with a set repayment schedule for the entire tenure of the loan. Every repayment you make will go towards paying off the principal (the amount you borrowed) and the interest. Repayments will be automatically direct-debited from your nominated bank account each month for the life of this loan, so you don’t need to worry about accidentally missing a payment.

What are the benefits of using a personal loan for travel?

A personal loan is a potential way to take the holiday you have been dreaming of without having to spend a lot of time building up your savings. Other benefits of using a personal loan for travel are:

  • Fixed interest rate, meaning your repayment amounts will stay the same, making it easier to plan your budget, and also have a clear structure for repayment. This enables you to know exactly what your financial commitments are and the set end date
  • Once approved, the funds are generally deposited into your account within 7 working days so you can be on your way pretty quickly
  • Unlike a credit card, a personal loan gives you the flexibility to withdraw cash without being hit with a cash-advance fee
  • A personal loan allows you to spread out the cost of your holiday over the term of the loan

You don’t need to scrimp and save to go on the holiday you’ve been dreaming of.

Find out more about Kotak’s personal loan and get a step closer to fulfilling your needs.

Ready to take the next step?

Know your Monthly Installments