What is a travel loan?

A travel loan is your gateway to fulfill all your travel dreams and needs.Be it domestic travel or a trip to an exotic overseas location with your loved ones, a travel loan takes care of all the expenses including flight tickets, accommodation, and other related costs. Travel loans fall under Personal Loans, and are easy to apply for with minimum documentation.

Can I get a personal loan to travel abroad?

Of course! You can definitely apply for a personal loan for travel abroad.It will take care of almost all the expenses related to the trip, which includes flight tickets, accommodation, and other related costs.

What documents are required to get a personal loan for travel?

You don’t need piles of unnecessary paperwork.All you need to submit as personal loan documents are your identification proof, address proof, income documents, bank statements, and travel-related documents like tickets and itinerary. Yes, it is that easy to take off for a memorable trip with your loved ones – or even solo!

What are the advantages of using a travel loan?

There are loads of advantages in taking a travel loan to fund all your vacation expenses.It keeps your savings intact and allows you to pick a structured repayment plan that suits your wallet. Most importantly, you don’t have to delay your much-needed vacation. Enjoy that rejuvenating experience now!

What are the eligibility criteria to get an instant travel loan?

Eligibility criteria for travel loans may vary from lender to lender.However, the common factors that come in handy to determine your eligibility include your age, income, credit score, and employment status.

What is the tenure for a Personal Loan for travel?

The tenure for a travel loan can vary from 1 year to as many as 6 years.This means you have the flexibility to structure your repayment plan as per your financial status, and give your loved ones and yourself the most amazing experiences without waiting.

What is the interest rate for a travel loan?

There are many factors that decide personal loan interest rates for travel.Some of the basic factors, however, include who the lender is, how much the loan amount is, the tenure, and most importantly, your credit score.

How do I apply for a travel loan?

Applying for a personal loan for travel is easy. All you need to do is fill in the application form online and submit it along with the documents needed.Alternatively, you can visit our nearest branch and apply there by providing the necessary documents. In either case, please check whether you meet the eligibility criteria for the loan.

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Personal Loan for Travel

Whether you are dreaming of a North East India getaway, a tropical dream cruise or an international trip for the whole family, with Kotak Travel Loan you can take the stress out of paying for a planned or immediate vacation.

You can easily apply for a Kotak personal loan for travel with submission of only a few basic documents and get your funds disbursed in your bank account in under 3secs*

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 holidays, 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 Rs. 50,000 and Rs.35 Lakhs depending on your needs, and you can choose a loan term between 1 to 6 years.

The length of the personal loan for travel will determine your repayment amount. Your repayments would be in the form of EMI. You can check your monthly instalments with our personal loan EMI calculator and plan your loan payments according to your travel budget.

How is the personal loan for travel disbursed?

After determining your personal loan eligibility and submission of necessary documents, your personal loan for travel will be paid to you in one lump-sum, generally directly into your bank account. Now, you can easily access your money and start planning your trip.

Travel loan come 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 opting for a travel loan 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
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.