5 Creative Ways To Use A Personal Loan For Travel

Wanderlust! This blog is especially for those of you who love to travel the world, explore unknown destinations, immerse yourselves in nature, explore ancient ruins, trek off the beaten track, or give yourselves a well-deserved luxurious holiday after a hard spell of exhausting work.

A lot of us who have been bitten by the travel bug and find ourselves with wheels on our feet, sometimes gnash our teeth in despair as we jam the breaks on our flights of fancy, as we look bleakly at our bank account statements. We are longing to take off but do not have the resources at our immediate disposal.

Fortunately, today, there is a solution – the Personal Loan. This is a loan product offered by several banks and financial institutions which can be used for any purpose you deem necessary. You could convert it into a travel loan, using the personal loan to invest in yourself, expanding your horizons through travel. If you are a travel buff, here are some ways to invest the personal loan to fuel your dreams:

Get Yourself The Right Travel Gear And Equipment

Getting the best equipment is the secret to producing the best products. So too with a holiday. If you have a hectic touring schedule, invest in light luggage. If there is a lot of walking, you need some good shoes. If your destination is cold, get yourself the right thermal gear – jackets, inners, snow boots. If you are visiting a fashion destination like Paris - perhaps some neat designer wear. If you are going trekking - your own trekking gear: trekking boots, a rucksack, a sleeping bag, a sleeping mat and a head lamp. Purchasing the right gear is one investment that could accompany you for not just the present planned holiday, but for years to come, making future travel so much more easy.

Book Your Flight Tickets:

Flight tickets for overseas destinations have become exorbitantly expensive in recent years with the declining value of the Rupee to the Dollar and steep rises in fuel prices. If you are travelling to exciting destinations like South America, often considered off-beat by the average Indian traveller, tickets are almost one and a half times more expensive than to New York. What’s more there are no direct flights from India. It may make so much more sense for you to break journey at the stop-over (Miami, London or where-ever!) and explore the place as well. So, for a comparatively small added investment, you would have travelled and explored yet another destination.

Explore The Wild:

For most of us, we need our creature comforts. So even if we are attracted to wild untamed nature, we still need clean accommodation, a warm bath and a comfortable place to lay our heads down at the end of the day. The further into the wild you are, the more likely it is that these basic necessities will fall into the category of luxury! And luxuries are expensive. Thus, if you want to spend a few days in the Masai Mara or explore the Amazon, don’t miss it simply because you don’t have the funds at your immediate disposal.

Grab That Once-In-A-Lifetime Offer:

Artificial Intelligence is a powerful tool. Chances are that if you are an avid traveller, you are constantly browsing the internet looking for places to visit and destinations to explore. Chances are that each time you search, an exciting offer will pop-up on your screen, tempting you with discounts and irresistible packages. So, why lose out just because there isn’t enough money in your bank account at that point of time?

Take A Luxury Cruise:

One of the best ways to explore the world if you love the sea, a luxury cruise allows you to visit several destinations at a relaxed pace, with all your needs taken care of. Simply relax on the deck, revelling in the salty spray, or reading your favourite author and enjoying a glass of wine. Enjoy the five-star amenities provided, make friends while travelling from one destination to the next. It’s a must-do experience for the travel lover. Though luxury cruises can be expensive, the personal loan with no pre-conditionalities on how you use it, can help you fulfil a life-long dream.

While the personal loan can prove to be a life-saver for many, if you are contemplating one, do the maths well. Do make sure that should you decide on taking a travel loan, once you get back after a lovely relaxed holiday, repayments will not stress you out or make you regret your decision!

So, if you think the time is right for you to travel, and are wondering how to get a personal loan for travel, here is what you need to know in a nutshell. The loan is available in the online mode with quick processing speeds. Loan amounts can be as much as INR 50 lakhs with tenures extending up to 6 years. Interest rates differ from lender to lender, depending to a large extent on your personal credit score, the loan repayment tenure and the existing repo rates. IIFL Finance, for e.g. offers personal loans up to INR 500,000/- for a maximum tenure or 42 months – enough for a well-planned and much deserved holiday and enough time to repay the loan without overstretching yourself. So why wait, compare the offerings of various lenders, select the one giving you the best terms and Apply.