Plan Your Luxury Trip With a Personal Loan For Travel | Personal Loan Stories - Kotak Mahindra Bank
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16 OCTOBER, 2021

Planning a luxury holiday has always been the ideal gift Mr. Gupta wanted to give his wife on her 40th birthday. However, all his income would be spent on taking care of the family. Thankfully, Mr. Dubey, his colleague, suggested that he avail a personal loan from Kotak Mahindra Bank. He explained that there are multiple benefits of a personal loan for travel that can help him give his wife a dream vacation without having to worry about the finances.

If you are planning a luxury vacation for you and your family, a personal loan with Kotak Mahindra Bank can help.

What Is a Personal Loan for Travel?

A personal loan for travel is an unsecured loan that you can use to fund your travel needs.

How Does a Personal Loan for Travel Work?

A travel loan is a personal loan taken to fund your vacation. The loan amount ranges from Rs 50,000 to Rs 20 Lakhs that you can avail based on your destination and travel needs. The loan tenure is also flexible, and you can choose from 1 to 5 years to repay the loan.

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Mr. Gupta used the personal loan EMI calculator to find out about the length and the EMI he had to pay for availing that loan. This ensured that he didn’t have to burden his monthly finances and could easily choose an amount and tenure that suited his pocket.

Benefits for Availing a Personal Loan for Travel

The most important benefit of a travel loan is that you do not have to wait till you have enough savings to fund your travel. Other benefits are-

  • Flexible repayment

You can spread the cost of your holiday across the entire loan tenure and pay it in smaller parts or equated monthly instalments (EMIs) thus, reducing the financial burden.

  • Free withdrawal

Unlike the traditional credit card, a personal loan for travel lets you withdraw cash without any cash-advance fee, making it a flexible and convenient option over any credit card offers available for you.

  • Option of availing fixed interest rate

It comes with a fixed interest rate option, which translates, into fixed EMIs that do not topple your budget with changes in the interest rates. Once you decide on the interest rate and tenure while availing the loan based on your eligibility, it stays the same for the entire tenure.

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  • Quick Approval and Disbursal

When planning for a dream vacation, your preparation must be on point. Be it your outfits, packing or even planning the itinerary, it should be to your liking and can take time. So, why spend that time visiting bank branches or doing multiple follow-ups? With quick approval and disbursal process, you can get the loan amount in your bank account in a few hours. With pre-approved loans from Kotak Mahindra Bank, you can get the disbursal in a few seconds too.

In a nutshell

With this loan offering, you can fulfil your wanderlust and plan any vacation you dream of. However, ensure that you check your affordability with the help of a personal loan EMI calculator before applying. So why wait? Apply for a personal loan for travel and plan your dream vacation today.

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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.