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    Features and Benefits of Travel Loan

    A travel loan or holiday loan is an easy to acquire loan that is much safer than taking commercial loans. So, it is advisable to get clarity on the features and benefits of a holiday loan to make the most out of this loan facility.

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    Open for All Borrowers

    Travel loan is available even to those borrowers applying for the first time.

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    Collateral Free

    Being an unsecured personal loan, no security or assets are required to be mortgaged against the loan.

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    Online Application

    Quick registration, submission of paper less documentation and real time verification makes online vacation loan application a preferred choice

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    Flexible Payback Time

    Personal loans give you a minimum of a year’s time to pay off the debt. The loan is further broken into manageable monthly payments. This ease of repayment is not applicable with other types of loan that demand clearance probably in weeks or months.

    Eligibility Criteria and Documents for Travel Loan

    Borrowers should check the eligibility criteria before applying for travel loans. It is to ensure there are no cases of fraud or cancellation:
    1

    Age criteria: Applicant should be between 21-58 years

    2

    Minimum monthly income for salaried: Borrower should at least earn a minimum amount of Rs.15,000 monthly

    3

    Minimum monthly income for self-employed: Minimum earning should be Rs.15,000 monthly and six months bank statement is compulsory

    4

    Income proof: 6 months bank statement of salaried or personal account, If travelling for work, company papers for proof

    5

    Aadhar card and passport are the first documents when applying for travel loan

    6

    In the absence of Aadhar card, you can provide your driving license

    7

    Other important documents include your professional and financial details inclusive of 6 months bank account statement

    8

    Your account should be in any of the accepted banks as suggested by the financial institution

    Travel Loan via Instant Loan App

    Hero FinCorp is a useful instant personal loan app capable of making your travel plans work with the right amount of finance. Follow the stepwise process to avail quick travel loans:

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    • 1

      First, download the instant personal loan app from Google Play Store on your android phone

    • 2

      Register your mobile number or email id for OTP verification

    • 3

      Fill in the desired loan amount, tenure and set your EMI

    • 4

      Verification of KYC documents

    • 5

      Once authenticated, disbursal of loan amount is done in 48 hours

    Note: If you are in the age group of 21–58 years and have a minimum monthly income of 15,000, then you are eligible for a personal loan from Hero FinCorp. Apply for a personal loan today with no physical documentation and no meetings required.

    Frequently Asked Questions (FAQs)

    Travel loan is a type of personal loan that provides the necessary finance on time and supports your travel needs for various reasons.
    Travel loan EMIs can be repaid easily via net banking, UPI money transfer or automated mode of payment that gets deducted on a set date.
    As the loan amount is taken for a less period of time, no collateral or security is required against travel loan.
    The repayment tenure for travel loan is generally 6-36 months, depending upon the lenders.