The Travel Loan: How to fund your dream holiday

The Travel Loan: How to fund your dream holiday

If you’ve been dreaming of a vacation for a long time, don’t let the expenses hold you back.

Instead, opt for a Travel Loan (a Personal Loan for travel) and make memories to last you a lifetime.

Why take a Travel loan?
Here are some reasons to opt for a Personal Loan for Travel:

• Instant funds: HDFC Bank customers are eligible for pre-approved personal loan and receive funds in 10 seconds*, non-HDFC Bank customers can get funds in 4 hours*
• Pocket-friendly EMIs: Enjoy flexible tenure (12-60 months) and repayment options (EMIs starting as low as Rs. 2149 per lac) * (T&C)
• Hassle-free: Minimal or no documentation
• Repay by cheque, online transfer, cash or credit card

How to estimate your Travel Loan amount?

To determine how much of a Travel Loan you should take, you must first create a complete travel budget. To do that, take these steps:

Research your destination: Read guide books or travel websites to get an idea of the places you want to visit. Make a list of things you would like to do there, and their likely costs.

Make a trip budget: Based on your research, assess your per-day and total trip cost (including meals, sightseeing tickets, transportation, visa fees and lodging). Or you can approach a travel agent for a package or customized tour and ask for a quotation. Add 20-30% to the estimated budget to calculate the total trip cost.

Take stock of available funds: How much can you raise on your own? Check your bank accounts and consider expected receipts such as annual bonus or dividends due on your investments.

Apply for Travel Loan: Contact your nearest bank to apply for a personal loan. Furnish the required documents, such as IT return or salary slips, proof of address, proof of ID and bank statements. Based on your relationship with the bank, and your documents, your eligibility will be determined. You can also check your eligibility here.

Receive funds: Plan your booking strategy. Book your return tickets first, then hotel stays, followed by internal travel and sightseeing tours.

Or transfer funds to your travel agent for the necessary bookings. You can pay via cheque, NEFT or IMPS.

Once bookings are done, apply for a visa, if required.

It's time to plan your dream holiday. Apply Now and #Startdoing 
Bon voyage!

* Terms & conditions apply. Loan disbursal at sole discretion of HDFC Bank Ltd.