Travelling is a fulfilling experience, but the associated expenses can sometimes be overwhelming. To manage these costs, many individuals opt for a travel loan. However, before applying, it is important to understand how the travel loan interest rate can affect the overall cost of your trip.
The travel loan interest rate can vary based on factors such as the loan amount, your credit score, monthly income, and overall credit profile. Bajaj Finance Limited offers personal loans with interest rates starting from 16%* p.a., depending on your eligibility and financial standing.
If you exceed your travel budget or require funds for unexpected expenses, our Insta Personal Loan can help. Existing customers can avail of pre-approved offers, while new customers can easily check their pre-assigned limit using just a mobile number and OTP. Since these offers are pre-assigned, there is no need to check your CIBIL score separately. The applicable interest rates currently range between 16%* and 31%* p.a.
Benefit of interest rates on travel loans
Understanding the travel loan interest rate is crucial when planning your finances. A lower interest rate can significantly reduce the overall cost of borrowing, resulting in lower EMIs and easier repayment. With Bajaj Finance offering personal loans starting at 16% * p.a., you can manage your travel expenses without straining your budget. By securing a loan at a competitive rate, you can focus more on enjoying your trip rather than worrying about repayments. Additionally, a favourable interest rate can help you manage sudden travel-related expenses with greater ease, making your journey smoother and stress-free.
Here is how you can check your Insta Personal Loan offer
- Click on ‘CHECK OFFER’.
- Enter your 10-digit mobile number and OTP.
- Once successfully verified, your pre-approved personal loan offer details will be displayed on your screen.
- Go with the pre-assigned limit or choose a different loan amount.
- Choose a repayment tenure that suits you best.
- Click on ‘PROCEED’ to complete the online process.
The online process may differ depending on whether you are a new customer or have an existing relationship with us. Select customers may be able to get the funds they need without having to submit any documents.
How does a personal loan for travel work?
A personal loan for travel works by providing you with a lump-sum amount that you can use to fund your travel expenses. You repay the loan in fixed monthly installments over a predetermined period. In the case of our Insta Personal Loan, you can repay the loan over a tenure ranging up to 96 months.
A lower interest rate can significantly reduce the overall cost of your travel loan, making it more affordable in the long run. Conversely, a higher interest rate can result in higher monthly payments and a higher total repayment amount. Maintaining a good credit score and a stable income can help you qualify for lower interest rates.
