Travel is an experience central to life today. Whether you follow the philosophy of ’you only live once’ to have experiences like sky diving or simply like to refresh and reenergize in a scenic location once every few months, travel is a lifestyle choice, and one that requires money. Travel loans are becoming an increasingly popular way to fund domestic and international travel because of the various advantages they offer. With that being said, here’s how a travel loan from Kotak can help you explore new horizons.

  • Increases your options

While there are a lot of budget-friendly travel destinations you could explore in India and around the world, many others that might be on your bucket list may require a higher amount of money. And there are many unique experiences that you can only have in certain places, such as seeing the Northern Lights in Norway and Iceland. 

With a personal loan, you do not need to compromise on the experiences you want to have because you can apply for a loan amount as high as Rs 40 lakh without any collateral. This means that you neither need to wait for years before you can save the amount needed, nor do you need to opt for cheaper alternatives to the travel destinations you want to visit with the help of a personal loan. 

  • Allows you to make it to events

A lot of people travel to certain countries specifically for an event – such as the FIFA world cup, an annual literature fest, a music concert, etc. These events are time sensitive and hence if you want to travel to enjoy these, you need to have the money for it right away instead of saving for it over time. 

When you apply for a personal loan, the application and approval processes are completely online and streamlined. This means that you can get the funds disbursed to your bank account within a short span of time.

  • Makes experiences more accessible

Travelling to a country or city in itself is not sufficient. You need to be able to have certain experiences that are unique to the place and culture to have a wholesome and memorable experience. For instance, when you visit the Andaman and Nicobar Islands, you may want to opt for a scuba diving programme or when you go to Switzerland, you may want to stay at a ski resort and learn to ski. Even other experiences such as shopping may cost a significant amount of money if you go to countries where the markets are popular, such as Dubai. 

One of the biggest advantages of a personal loan is that once you have the funds in your bank account, you can use them for whatever travel purpose you deem fit. So, whether you want to use that money for your flights and hotel bookings or for shopping and fine dining, that’s completely up to you.

Ending note

A travel loan or a personal loan for travel from Kotak is a quick, easy, and affordable way to finance your next vacation. Before you click on the personal loan apply button, make sure to use the personal loan EMI calculator to assess how much the travel loan will cost you in terms of interest and what your equated monthly instalment will look like over the loan tenure.

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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. 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 the Bank. The Bank, 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. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.