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How to Take a Loan for Travel in India?

Are you thinking of planning your dream travel without collateralising your assets? A Personal Loan can provide you with the necessary funds that can be used for innumerable requirements or desires. Remarkably, Personal Loans have gained traction exponentially over the last decade. 

Almost every person dreams of visiting their favorite destination at some point in time. Whether national or international, you can apply for a Personal Loan from a reputed NBFC like Clix Capital, offering instant Personal Loans for travel in India.

You can complete the entire borrowing process for a Personal Loan from pre-qualification to loan funding without entering the lender’s premises. An instant Personal Loan online can provide you with funds for travel within a working day. Therefore, most people want to meet their most small and big financial requirements with an online Personal Loan. 

The Process for Online Personal Loan for Travel 

It is effortless to apply for a Personal Loan for travel online. New-age lenders like Clix Capital have digitised the entire loan application process. Just visit their website, check and fill in details, and get quick approval in a few minutes. 

Go through this step-by-step process to understand the critical aspects of applying for travel loans in India.

1. Determine the Required Loan Amount 

A Personal Loan can offer you an ample amount to meet your travelling expenses. You should apply for the required amount and avoid taking a high amount just because you meet the eligibility criteria. Evaluate your costs during travel and decide how much loan amount is good enough for you. A high loan amount seems attractive at the time of application, but it can disturb your budget as you need to repay the borrowed money and interest within the loan duration.

2. Compare Lending Institutions 

It is not wise to accept a random travel loan offer. While searching for instant personal loan approvals, you will come across numerous lenders. It is good to compare lenders before submitting your application. Multiple factors, including flexible repayment terms, interest rate, processing time, loan approval fee, etc., can help you to choose the right lender.

3. Check the Eligibility Criteria 

It is crucial to analyse your travel loan eligibility before making a loan application. A travel loan applicant must meet different eligibility conditions with other lenders, such as income, age, work experience, credit score, etc. Standard eligibility parameters with most NBFCs are as follows: 

  • The applicant’s age should be between 21-58 years for applying for a loan for travel in India. 
  • A salaried employee, or self-employed professional, can apply for a travel loan online.
  • The lender may want you to have a total work experience of a minimum of one year.

It is good to check your eligibility for getting instant Personal Loan approvals. This will prevent you from loan application rejection, besides preventing your credit score from dropping.

4. Check your Credit Score 

The credit score is a necessary eligibility condition for any lending institution. With a higher credit score, an applicant shows responsible financial behaviour. They have a spotless credit history without any delays or defaults on payments. If you habitually delay payments, you will be a high-risk borrower for lenders, and they will tend to reject your Personal Loan application. If your credit score is poor, you can prefer Clix Capital, which accepts an Experian credit score of 630+, to approve an individual’s travel loan application.

5. Access the Online Application

Online application for travel loans in India makes loan processing much easier and faster. You need to enter the basic details to submit the application form. Upload the documents. A travel loan has minimal documentation requirements. Submit the duly filled online application along with:

  • Latest passport size photograph
  • Identity proof like Aadhaar/passport/driving licence/Voter ID, etc.
  • Address proof like Aadhaar/passport/driving licence/Voter ID, etc.
  • Income proof, like salary slips or account statements

6. Wait for the approval

The lender’s representative will connect with you after your application submission with all your details and documents. You can accept the loan offer with a suitable loan repayment tenure and get the approved loan amount credited to your account.

This is how you can apply for travel loans in India. Digital processing makes it easy to apply for a Personal Loan for travel with minimal paperwork and get approved.

Read More: Why You Should Get A Personal Loan?

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