Should You Go For A Personal Loan To Travel? | Letzbank

As a wise man once said, “Travel is the only thing you buy that makes you richer”. While all of us travel for leisure at one point or another, the cost involved in international travels makes it harder for most of us. However, would you enjoy travelling more while you are young and able than when you are old and travelling with your life savings? Many would not like to have a financial constraint in between their travel plans as money can always be earned but travel is a once-in-a-lifetime experience.

While there are both positive and negative aspects of taking a personal loan for a vacation, most people nowadays are not hesitant to bank on a personal loan to gain the experience of a lifetime. On the plus side they get the much-needed flexibility on repayment and affordable interest rates makes EMI cheaper.

If you have a good credit score, there are banks that will offer you interest rates as low as 12% per annum. Club it with flexible loan tenure and zero penalties on prepayment. Personal loans are highly versatile and can be taken for a number of reasons, which makes it a perfectly unique loan product for those who would like to travel.

Personal loan amounts are offered anywhere from Rs. 20,000 to Rs. 25,00,000 and depending on where you are travelling, you can use the money to pay for flight tickets, hotel reservations, local travel costs and much more.

Personal loans for travel are unsecured loans and you need not deposit any collateral or security to be able to avail them. It is a much cheaper form of financing your travel than a credit card. This is because credit cards with a revolving balance incur an interest rate that is much more than what you will be paying towards your personal loan. It is also a quick and hassle-free process and the loan amount is provided as per your need. The repayment terms are also flexible to allow you to make monthly payments as EMI.

You can make use of Letzbank’s Personal Loan EMI Calculator that will help you determine the EMI according to the loan amount, tenure and rate of interest. It is a simple way of determining how much loan you should take and what your repayment will look like. Simply enter the loan value, the loan tenure and the rate of interest and hit calculate. The EMI calculator will easily determine your loan repayment in monthly as well as annual basis.

The benefits of applying the loan directly at Letzbank are many. Firstly, all loan applications at Letzbank get their service charge waived off. You can also benefit from the Instant Quote service that allows you to check the loan quote from any bank of your choice. Not only that, you can also avail a travel insurance at Letzbank website easily that you can use towards your travel. So go ahead and visit Letzbank website for a comparative display of all loan products.