Can You Get a Personal Loan for Travelling Abroad?

Posted on Thursday, June 22nd, 2023 | By IndusInd Bank

IndusInd Bank offers easy-to-avail multi-purpose personal loans for travelthat you can utilise for your trips abroad. Get quick approval and competitive interest rates. Follow 4 simple steps to get an IndusInd Bank Instant Personal loan.

Introduction: Travelling abroad is a great way to broaden your horizons. It allows you to get acquainted with a global community, exposes you to new cultures, and gain knowledge about the world outside. According to a 2022 survey conducted by online accommodation platform Airbnb, 75 percent of Indians reported having international travel plans in the foreseeable future.

Furthermore, more and more people are not letting budget constraints come in the way of their plans. A latest study cited by the Times of India shows that banks and fintech companies are seeing a 20-25 per cent spike in loans for travelling as the tourism sector undergoes a post-COVID-19 revival.

Interestingly, an overwhelming majority of the demand for loans for travel is for international holidays to destinations such as UAE, Europe, Singapore, Thailand, Indonesia, Malaysia, and Turkey among others. If you also wish to take out a personal loan for travel, read on to know all about how an IndusInd Bank personal loancan help you fund your next adventure abroad.

What is a personal loan?

As the name implies, a personal loan is a type of unsecured loan that individuals can utilise to fund any type of personal expense, from a medical emergency to an overseas trip. Here are 3 advantages of taking out a personal loanfor overseas trips:

Advantages of Taking a Personal Loan for Travelling Abroad

1. Flexibility in Use: Personal loans can be used to pay for any personal purpose. If you take out a personal loan for travelling abroad, you may use the money to book tickets, pay for your accommodation, or indulge in shopping!
2. No Collateral Required: Personal loans do not require collateral or security, making them accessible to borrowers who don’t own assets or are unwilling to pledge them.
3. Quick Approval: Personal loans typically have a fast approval and disbursement process, making these a great option if you spontaneously decide to go on a vacation!

Pay for Your Trip Abroad with IndusInd Bank’s Personal Loan

IndusInd Bank simplifies the process of obtaining a personal loan so that you can access it seamlessly. The salient benefits are as follows:

1. No Physical Documentation: No physical documentation, swift processing, and prompt disbursal of funds.

2. Flexible Tenure: Choose a tenure that fits your financial needs. You can pay back the loan in as little as a year or over a tenure of 4 years.

3. Low-Interest Rate: Get an affordable loan with attractive interest rates and low processing fees.

4. Wide-Ranging Loan Amount: You may outline a budget and borrow what you need in the range of ₹30,000 to ₹5 Lacs.

5. Attractive Features: With no requirement of collateral, IndusInd Bank’s personal loans are convenient, affordable, and stress-free.

The following table breaks down the eligibility requirements for IndusInd Bank’s Personal Loans:

Eligibility Criteria:

If you are eligible, follow this 100% paperless, 4-step process to get instant money for your trip abroad:

1. Enter your details: Input your details – including loan requirement – and verify your address
2. Receive an offer: Get a loan offer based on your details
3. Finish Your Application: Complete V-KYC and set up auto repayment
4. Receive Money: Provide your account details, digitally sign the loan contract, and instantly receive the funds in your bank account

Convenient, collateral-free, and repayable over easy EMIs, a personal loan is indeed a great option for obtaining the money you need for travelling abroad.

Whether you are looking to go on a vacation or workcation, or wanting to visit a relative in a foreign country, a personal loan for travel at IndusInd Bank can instantly help you get the money you need.

Transform those travel dreams into happy memories!  Apply for a personal loan now!

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.