Holiday Loan YourWay

Pay Your Holiday Expenses in
Easy Instalments

You Plan your Holidays, we will help you to sort your Holiday Expenses.
Take a loan the way you want it, with a flexibility to prepay or repay according to your comfort.

Apply now. Take approval instantly and receive money in your account as soon as tomorrow.

A New Type of Holiday Loan Available Only Online


Gone are those days when people used to save money for years and travel later (by the time they got old). People now opt for quick finance availability and want to live in the moment, because we never know what tomorrow holds. People want to travel, explore, learn and create memories along the way. Planning holidays with family or friends is fun; however it also involves spending money. MyMudra understands these expenses and therefore offers holiday loans which enable you to explore options the way you want. MyMudra believes everyone deserves a break from routine,since you work hard, we help you holiday harder.


INTEREST RATE STARTS FROM

13.99 %
%
CHECK RATEs >

EMI START FROM

Rs. 2326
CHECK EMI >

Why Holiday Loan from My Mudra FinCorp


Loan for Holidays

Holiday/Travel loan that can
be utilised towards various
holiday/travel expenses.

Apply for Loan

Apply Today and get
Money Tommorow.

Online Application for Loan

No Stepping out
from Application to Disbursal

Repay for Loan

Easy & Safe Online Application &
Instant Approval

Easy Holiday Loan Disbursement

Take the disbursement of loan as required
during the requirement period.

Flexi Loan

Flexi loan: pay interest only on used
loan amount rather than the entire
sanctioned loan amount.

EMI Free Loan Options

Over Draft and EMI free loan options

No Prepayment, No Foreclosure charges, No Guarantor Required

No prepayment, no foreclosure charges,
no guarantor required

EMI & Insurance Protection

Option of step up or step down EMIs

Why Holiday Loan from My Mudra FinCorp


  • Holiday/Travel loan that can be utilised towards various holiday/travel expenses.

  • Apply Today and get Money Tommorow.

  • No Stepping out from Application to Disbursal

  • Easy & Safe Online Application & Instant Approval

  • Take the disbursement of loan as required during the requirement period.

  • Flexi loan: pay interest only on used loan amount rather than the entire sanctioned loan amount.

  • Over Draft and EMI free loan options

  • No prepayment, no foreclosure charges, no guarantor required

  • Option of step up or step down EMIs

How It Works

Simple procedure, multiple repayment options makes it more personal than a personal loan! That’s why we call it Your Loan Your Way!
Checking your loan eligibility to online loan application to disbursal can be executed within 12 to 48 working hours.

CHECK ELIGIBILITY AND APPLY ONLINE IN MINUTES BY PROVIDING BASIC DETAILS

We have simplified the loan application process. You can quickly apply online and get the decision from us within few minutes.

1

GET INSTANT APPROVAL

After submission of a duly completed online application form, you can get an instant approval.

2

UPLOAD THE REQUIRED DOCUMENTS

Post the loan is approved; you need not submit the hard copies of your documents. You can simply upload them online

3

4

COMPLETE THE DISBURSAL FORMALITIES

Post uploading the documents , we will help you complete the disbursal formalities either online or offline, as required.

5

GET MONEY IN YOUR ACCOUNT

Once your loan is disbursed, we will get your money credited into your account.

6

START REPAYMENT

Begin repaying the loan through EMI by giving a mandate to your bank.

More Reasons to Take Holiday Loan from My Mudra FinCorp


Choose to pay EMI immediately after disbursal or 6 months later, till then you pay only interest.
Minimum Loan amount of Rs. 30 thousand and maximum loan amount of up to Rs. 10 Lacs
EMI Waiver, based on your clear repayment across the term of the loan.
Avail a Top- Up loan after 6-12 months based on your repayment track record.
Affordable Interest rate at flat 1.5% to 2%p.a
Option of step up or step down EMIs.
Tenure up to 60 months.
Insurance Protection available.
 

Read More about Holiday Loan from My Mudra FinCorp


What is a Holiday Loan?

Holidays are the time when people forget all the troubles and worries of their life. Now, when people barely get time for themselves and their loved ones, holidays comes to their rescues. Holidays are not only refreshing but also let you explore your inner self. Going on a mountain tracking, sitting on a beach or exploring the country you have never been to or any other things, holidays are really exciting. But, holiday also means spending a large amount of your earnings. From booking flight and hotel tickets to spending on shopping, a holiday requires funding and that’s when a person needs holiday loans. A holiday loan is basically a personal loan offered to fund a holiday that your finances can’t cover.


Features and Benefits of Holiday Loan

Almost all the banks these days offer loans for holiday. A travel loan comes with ample of features and benefits that are stated below:

  • A vacation loan does not need a guarantor and collateral to apply for a loan.
  • The loan amounts are disbursed as per an applicant’s requirement.
  • The loan repayment tenure varies from 12-60 months. The loan amount starts from as low as 10,000.
  • A travel loan offers you a fixed interest rate which will give you a clear structure for repayment.
  • Once a loan is approved the funds gets transferred to you within 4-5 days.
  • Unlike a credit card, this loan gives you the flexibility to withdraw cash without paying cash advance fee.
  • It will allow you to spread the cost of your holiday over the life of your loan.


Eligibility Criteria of Holiday Loan

Before you go for a loan holiday, you need to be aware about the eligibility criteria required. Here is the eligibility criterion that one should follow to avail a holiday loan.

  • Applicant should be between 23-58 years of age to apply for a travel loan.
  • The applicant should be salaried, professional or self employed with a minimum turnover of Rs 40 lakhs.
  • Applicant should be earning a minimum salary of 20,000 per month to apply for a personal loan for vacation.
  • Should have minimum 2 years of experience.
  • Should be a residing in a place for a minimum period of 1 year.


Documentation Required for a Holiday Loan

One you have decided to apply for a loan for travel, you need to keep ready some documents that banks may ask you to submit after you have applied for a loan. These documents are as follows:

    Documents required for salaried applicants-
  • Application form duly signed with your latest photographs.
  • Identity proof such as voter ID, passport, driving license or PAN cards.
  • Proof of Address which may include leave and license agreement or utility bill.
  • Property documents or electricity bill for house ownership proof.
  • Bank statement of last 6 months.
  • Salary slips of last 3 months or current dated salary certificate with the latest form 16.
    Documents required for self-employed applicants-
  • Application form duly signed with your latest photographs.
  • Identity proof such as voter ID, passport, driving license or PAN cards.
  • Proof of Address which may include leave and license agreement or utility bill.
  • Property documents or electricity bill for house ownership proof.
  • Office address proof- Maintenance bill, utility bill.
  • Office ownership proof such as property documents.
  • Saral Copy for 3 yrs, Shop Establishment Act, Any Tax Registration Copy, Company Registration license for business existence proof.
  • Latest 2 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.,
  • Latest 1 year bank statement.


Interest Rates for Holiday Loan

Interest rates for loan for travel vary from bank to bank. Applicant can choose between fixed and floating rates. A personal loan for holiday is an unsecured loan which does not require any collateral and hence comes with a bit high interest rates. The interest rate for holiday loans generally ranges from 11 percent to 22 percent.
Here is the list of interest rates offered by some of the top banks:

Banks Interest Rates
Kotak Mahindra bank 10.99 - 19.65%
Standard Chartered bank 10.99 - 14.49%
HDFC bank 11.29 - 19.50%
ICICI bank 11.70 – 18.85%
Bajaj Finserv 11.99% onwards
IndusInd bank 12.99 - 20.00%
SBI bank 12.90 - 16.55%
Citibank 11.49%


How to Apply for a Holiday Loan

A loan for holiday is the need of the time. One can apply for a holiday loan online as well as offline. Select the bank and the scheme you want to apply for. Calculate the EMIs and loan tenure according to your repayment capability. Once you have selected the bank of your choice all you need to do is to apply for the loan. Fill the online application or go visit the nearest branch. Once you have applied for the loan, the bank will verify the documents and the will forward your application. After the verification, the bank will finally approve your loan and the amount will be disbursed to you with in 4-5 days. Another way of applying for a loan is by visiting any nearest branch.


Fees and Charges of a Holiday Loan

Availing personal loan for holiday involves fees and charges such as interest rates, one time processing fee, prepayment charges etc. The interest rates charge by any bank depends on a person’s profile and is usually above 11%. Since these loans are unsecured loans the interest rates can go substantially higher depending on the loan option an applicant go for. The non-refundable processing fee charged by the lenders ranges from 1.50% to 2%. Along with the processing fee a lender also levy prepayment charges which are generally range between 3-4% of the principal outstanding.


Top Five Providers of Holiday Loans

  1. State Bank of India
    Country’s largest lender SBI offers travel loans at very competitive interest rates. Processing charges for SBI travel loans is 1% with no hidden charges and no prepayment. Loan repayment period is up to 48 months.
  2. HDFC Bank
    One of the most preferred bank for loans in India, HDFC bank provide personal loans for the purpose of vacation. The interest rate starts from 11%.
  3. Bajaj Finserv
    Considered as one of the favourite NBFCs, Bajaj Finserv offers personal loan for travel starting at 13.49%. Loan amount gets disbursed within 72 hours. It offers loans up to Rs 25 lakhs.
  4. Axis Bank
    India’s third largest bank, Axis Bank offers personal loan for holidays. The loan amount offered is up to 15 lakhs. Axis bank is preferred for they offer minimal documentation with easy and hassle free loan process. Repayment tenure ranges from 12 to 60 months.
  5. Bank of India
    Bank of India offer a home loan scheme for both salaried and self-employed individuals named star holiday loan. They provide loan to meet the expenses for going for holidays and offer max 2 lakhs as advance.


Why MyMudra Financial?

MyMudra Financial connects customers with over 50 financial institutes. It provides multiple online tools to search compare and analyze different types of holiday loan schemes. We provide our customers with the option of applying for a holiday loan online. We provide quick and easy travel loans with minimum interest rates and easy documentation. My Mudra FinCrop stands out among all its competitors with best interest rates, lowest application fees, highest loan amount, suitable tenure from best suitable financier. My Mudra FinCrop is one stop solution for all your holiday expenses. Here is why you should apply a travel loan with MyMudra financial:

  • Customer can choose to pay EMI immediately after disbursal or 6 months later, till then they can pay only interest.
  • Customers can avail a Top- Up loan along with a holiday loan after 6-12 months based on your repayment track record.
  • My Mudra FinCrop provide tenure of up to 60 months.
  • We offer minimum loan amount of 30,000 and maximum loan amount of up to Rs 10 lakhs.
  • The interest rates you get with MyMudra financial are affordable ranging from 1.5% to 2%p.a at flat.
  • One also gets insurance protection along with the loan.
  • We provide you the option of stepping up or stepping down your EMIs.


Holiday Loan FAQs

  1. How is my eligibility criterion for a travel loan determined?
    Eligibility criteria to apply for a travel loan are based on your income, CIBIL history, age and risk taking capability of the bank.
  2. What are the tenures available for travel loan?
    The tenure to apply for a holiday loan ranges from 1 year to 5 years depending upon the lender.
  3. How can I repay my holiday loan?
    The repayment of a holiday loan is done by issuing post-dated cheques for the entire tenure of the loan.
  4. How long will it take for me to get funding?
    Generally, the fund gets disbursed to an applicant within 2 working days post loan approval.


Customer Reviews and Testimonials

When Customers feel special; they express, here we share their best reviews & testimonials.


Have Some More Queries


Read on the FAQs
Q. What is the minimum and maximum loan amount I can get under Holiday loan from My Mudra FinCorp?
The minimum loan amount you can apply for is as low as Rs. 25 thousand and the maximum loan amount is up to Rs. 10.00 Lacs.
Q. What is the Income eligibility criterion for taking an Holiday loan from My Mudra FinCorp?
Minimum income required to apply for marriage loan is Rs. 30 thousand.
Q. Can I foreclose/pre-pay the loan before the end of the tenure?
Yes one can foreclose/pre pay the loan without any additional charge/penalty.
Q. How do I apply for a Holiday Loans with My Mudra FinCorp?
Check Eligibility & Apply Online in Minutes by providing basic details.

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