Traveling or simply breaking free of the daily routine is quite beneficial in rejuvenating the mind, body, and soul. A relaxed and rejuvenated spirit is more effective in their work and brings a positive outlook among his peers as well. It is an enchanting process that leads to countless discoveries and is a fresh lease on life. Nevertheless, it is not easy to plan for travel and not to mention the costs involved. If you are looking at an exotic location with the best of facilities – there is not a doubt that the costs will be exorbitant. Even if you plan for a local location, it is not easy on the pockets. The traveling and staying expense and not to mention the food, sightseeing, and shopping expense can create quite a big hole in your savings.
To travel to your heart's content without worries about the dent in your savings, you can opt for a travel loan. There are quite a few being offered by different banks and financial institutions. You can choose an offer that is best suited to your requirements. An amount that completely covers your travel and all aspects along with an economical interest rate. You can also opt a long repayment tenure to keep the EMIs manageable.
Advantages of Bajaj Finserv Travel Loan- They offer travel loans for salaried individuals with a pre-approved offer and flexible repayment tenure. There are no hidden charges and dedicated customer service personnel as well.
- Low EMI options
- Instant approvals
- Minimal documentation
- Flexible tenure
- No-hidden charges
- Online management of loan account
Advantages of Qbera Travel Loan- Qbera offers flexible personal loan to plan and organize the ideal vacation.
- Variety options for salaried individuals and self-employed persons
- Open to persons with a net monthly salary of Rs 18,000
- Anyone in the age group of 23-55 years can opt for it.
- A completely digitized process.
- Flexibility of usage
- Minimal processing fee and no hidden charges
- Competitive interest rate
- Dedicated customer care
Here is a snapshot in tabular format:
|
Bajaj Finserv Travel Loan
|
Qbera Travel Loan
|
Rate of Interest
|
Starting at 12.75%
|
Starting at 10.99%
|
Tenure
|
Not specified
|
5 years
|
Loan amount
|
Up to Rs 25,00 000/-
|
Up to Rs 25,00 000/-
|
Disbursal time
|
Within 24 hours
|
24-48 hours max
|
Processing Fee
|
2.25% - 3% of the loan amount
|
1%-5%
|
CIBIL score
|
750 and above
|
600 and above
|
How to Apply for a Travel Loan through Qbera?
- Log on to Qbera.com
- Fill the online application form.
- Upload the required bank statements and salary slips
- Get a personalized quote
- An executive will collect the documents at your doorstep
- The loan amount will be disbursed to your bank account within 24 hours.
View a complete list of our FAQs at our
help center
Interest Rate & Other Charges
Interest Rate
|
11.99% to 35.99%
|
Processing Fee
|
1% to 5% of total loan amount
|
Loan Amount
|
₹1,00,000 to ₹15,00,000
|
Loan Tenure
|
12 to 60 months
|
Step 1: Online Application Form
Get approved instantly
Fill out our online application form by answering a few questions about yourself, your employment, your education, expenses and needs. This process would take no longer than 10 minutes.
Step 2: Connect bank account
Submit your bank statements
Connect securely to your bank via netbanking and submit bank statements as part of the easy loan application form. Alternatively, you can upload bank generated pdf bank statements.
Step 3: Loan term
Choose your Loan Term
Using our proprietary Credit Scoring Algorithm we determine your loan eligibility in real-time. Our algorithm uses the information about you, to determine your future potential and help you get the best rate instantly.
Example: A
loan offer of
₹2 lac, for a
tenure of
3 years at an
interest Rate of
16.6% (on a reducing principal) and a
processing fee of
2.5%.
Translates to:
- Processing Fee deduction of ₹5000 (2.5% of 2 Lacs) from loan amount, thus, the amount credited to your account will be ₹1.95 Lacs
- EMI of ₹7091 per month
- Total payable amount in 3 years = 36 times ₹7091 = ₹2,55,276
- Total Interest paid in 3 years = ₹55,276, hence, annual interest paid = ₹18,425 (which translates to an effective flat annual rate of interest of 9.21%)
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