What Makes a Flexi Personal Loan the Ideal Tool to Manage Your Travel Expenses? - Loan Trivia


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Tuesday 7 January 2020

What Makes a Flexi Personal Loan the Ideal Tool to Manage Your Travel Expenses?

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From the cost of transport to paying hotel bills, from foods to recreational activities, a tour comes with a lot of overhead expenses that can strain your travel budget. Fortunately, you can easily meet the financial crunch with the help of a Flexi Personal Loan. With features like easy to meet eligibility criteria, collateral-free nature, etc., this type of financing becomes the ideal option to cover various travel-related expenses. 

Below Are Some More Reasons Justifying The Same. 

Quick Disbursal of Funds – You can face many expenses during your tour that you may have not accounted for while planning. For example, you might need to switch hotels, or may have overspent while shopping. In such situations, you need a mode of financing that is quick and easy to avail. A Flexi Personal Loan is ideal as it offers instant approval without any complications. 

You can avail funds up to Rs. 25 Lakh for a sound financial backing to meet any unaccounted situation or emergency. 

Easy to Meet Eligibility Criteria – Flexi Personal Loans come with minimum eligibility criteria and documentation, which allows it to be processed much quicker. For example, lenders like Bajaj Finserv requires you to be an Indian citizen between 25 and 55 years of age and be a salaried or self-employed person. The documents required are KYC, bank account statement, proof of income, and proof of residence. This minimum documentation allows Flexi Personal Loan disbursal within 24 hours only. 

Bajaj Finserv also provides pre-approved offers for personal loans, home loans, business loans, and many other financial products and services. This further simplifies the process of financing and saves your valuable time. 

Easy Repayment Policies – The Flexi Loan facility on travel loan also come with easy repayment options, giving you the freedom of settling the debt according to your convenience. Many financial institutions have repayment tenure ranging from 12 to 60 months, along with part repayment options. This helps you pay off the loan with ease. 

Borrow Whenever You Need – It is the foremost advantage of availing Flexi Personal Loans. This feature gives you the flexibility to withdraw only the amount you need from the pre-set limit anytime, anywhere. Here, personal loan interest rates are levied on only the amount you withdraw and not on the principal. Pay off the interests as easy EMIs, reducing it by up to 45%. 

Availing Flexi Personal Loans give you adequate financial security in case your budget gets drained by any unexpected cost. But check your creditworthiness with an online personal loan eligibility calculator before applying. The application process is also easy and quick. 
  • After you choose a lender, visit their website to get the application form. Most of the lenders have made the application process online; you can fill all the details on the webpage and submit the form.
  • Select the amount and loan tenure that will be best suited for you. Remember to use a personal loan EMI calculator to determine the best combination of loan tenure and EMIs.
  • You will have to submit the required documents after your application is approved. Make sure to include every document that the financial institution asked for. Missing out on any can lead to the cancellation of a loan application.
  • The lender will go through the documents looking for any discrepancies. If there is none, the money will be credited to your account within a short time. You can then withdraw the funds to use.
These are the primary reasons why a personal loan with a Flexi Loan facility is ideal to manage your travel expenses. Enjoy the holidays without worrying about your budget.
Must Read: Five Simple Tips To Improve Your Eligibility For A Personal Loan

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