No Down Payment
Book a hotel on EMI without a down payment. You can cover the entire trip’s cost with the loan amount.
Book Your Hotel on EMI
Get a Personal Loan of up to Rs 5 Lakh
Minimum Income Required Rs 15K
Instant approvals within 10 minutes
Personal Loan EMI Calculator
Book a Hotel on EMI Without a Credit Card
If you need to book a hotel on EMI but don’t have a credit card, securing a small, unsecured Personal Loan is an excellent solution. Hero FinCorp allows you to apply online and get approval within minutes. You can use the loan amount to cover your hotel booking price and repay the funds in Equated Monthly Installments (EMIs).
Features and Benefits of Booking a Hotel on EMI Without a Credit Card
This Personal Loan solution is designed to be simple and flexible. Simply fulfill the eligibility criteria to take advantage of competitive rates, quick approvals, and complete transparency. The entire process is conducted digitally.
Key Features include:
- Approval within minutes when you apply online
- Paperless application process – just provide your KYC details
- Flexible repayment tenure – 12 to 36 months
- Online loan application and tracking
- Dedicated customer support
Why Should You Book a Hotel on EMI?
With a Personal Loan, every foreign or domestic trip becomes easy and stress-free. This method of financing provides the following key advantages for your next travel plan:
No Collateral Requirement
Personal Loans are approved based on your income and repayment capacity. You may apply for one without pledging any assets as collateral.
Flexible Tenure
You can choose an EMI that fits your budget and repayment capacity. Use an EMI calculator to calculate the EMIs, and choose a term with affordable instalments.
Instant Confirmation
Apply online and get confirmation in 10 minutes. No branch visits or paperwork are needed.
No Credit Card Needed
Using a Personal Loan, you can quickly book your hotel even if you don’t have a credit card. The loan amount is deposited directly into your bank account, which you can use to complete your booking.
Budget Friendly
Travelling with funds from a Personal Loan makes the trip more affordable, as it distributes the cost into easy EMIs. You can also splurge on other luxuries or activities that make your trip memorable.
Personal Loan Eligibility Criteria for Hotel Booking
Before you book your hotel on EMI with a Personal Loan, determine the Personal Loan eligibility criteria you will need to fulfil. The requirements include:
| Factor | Requirement |
|---|---|
| Age | 21 to 58 years |
| Employment | Full-time employee at the current company |
| Monthly Income | Minimum Rs 15,000 |
| Work Experience | Minimum 6 months |
| Credit Score | A score of 700 or above is generally preferred for instant approval. |
Documents Required for a Personal Loan to Book a Hotel
Getting a Personal Loan to book your hotel on EMI is simple. We have a completely paperless process for online Personal Loan applications. To apply, you only need to provide basic Know Your Customer (KYC) details, which include PAN and Aadhaar numbers.
Interest Rate on Personal Loan for Hotel Booking
To pay for your hotel price in EMIs, you must be aware of the interest rate and associated costs. Comparing the Annual Percentage Rate (APR) and other applicable charges across lenders will help you get the best loan deal. Here is an overview of potential charges:
| Fees & Charges | Amount Chargeable |
|---|---|
| Interest Rate | Starting from 18% per annum |
| Loan Processing Charges | Minimum 2.5% + GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | 5% + GST (Applicable after a minimum lock-in period, as per RBI Guidelines) |
| EMI Bounce Charges | Rs 350 |
| Interest on Overdue EMIs | 1-2% of the loan/EMI overdue amount per month |
| Cheque Bounce | Fixed nominal penalty |
| Loan Cancellation | 1. Online loan application does not charge any cancellation fees 2. Interest amount paid is non-refundable 3. Processing charges are also non-refundable |
How to Use the Loan App for Easy EMI Hotel Booking?
Book your dream hotel in minutes using the loan app. If you fulfil the Personal Loan eligibility criteria, you can instantly apply for a loan and book your hotel on EMI. These are the steps to follow:
- 01
Go to the website or download the loan app.
- 02
Click on the 'Small Personal Loans' tab and choose 'Apply Now'.
- 03
Type your mobile number and enter the OTP received on your phone to verify.
- 04
Choose your required loan amount and repayment tenure based on your financial needs.
- 05
Complete the online KYC process to validate your loan eligibility.
- 06
Click Submit to apply for your loan.
Once your loan gets approved, the loan amount is deposited in your bank account within hours. You can use that amount to book your hotel and repay the loan in EMIs.
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Frequently Asked Questions
If you fail to make an EMI payment, the lender may charge a late payment fee or penalty, and your credit score may be negatively impacted.
Yes, a nominal one-time processing fee is levied during the loan approval process. The lender charges this fee for processing the loan and carrying out the necessary administrative tasks.
Prepayment can be made after paying a few months' EMIs. However, check the terms and conditions before making the prepayment.
Approval depends on your eligibility and the completeness of your application. Our online application process is paperless. You can get approval in 10 minutes.
You should have a minimum monthly income of Rs 15,000 to qualify for an instant Personal Loan.