Travelling is something most people dream about. Young working professionals in our country often look forward to taking a break from their busy work lives and travel to a new place for a vacation. Travel packages to many popular locations are getting increasingly popular among young travelers in India. Though travelling is a highly desired activity, many people often avoid or postpone it due to shortage of funds. Travel loans are now offered by many popular lenders in the market so that money is not a hindrance when it comes to taking your dream vacation.
Most banks have specific income criteria for applicants to avail these loans. It is better to have a monthly income of at least Rs.20,000.
To avail pre-approved loans, the individual must already be a customer of the concerned bank.
Most of the top lenders in the market provide travel loans to customers with very minimal documentation. However, some of the crucial documents must be submitted (even electronically) while applying for travel loans. Some of these documents are listed as follows:
Income proof (payslip or IT returns)
The exact documents required by companies for travel loans may vary from one company to another. You may check the official website of the lender or inquire with a company official to know the list of documents that must be submitted.