Manage Money

Bank Name

Holiday Loan

Bijapur, a small city in the Indian state of Karnataka, is officially known as Vijayapura. The city is renowned for its historical monuments of grand architecture built during the reign of the Adil Shahi dynasty. It is a heritage city of Karnataka. The city was established in the 10th or 11th century by the Chalukyas of Kalyani and was named as Vijayapura or the city of victory. Bijapur is an ancient city which is the domain of different cultures and also houses five rivers. The rivers ensure a fertile land in the area that supports the agricultural lifestyle of its people. However, most of these rivers are rainfed and hence the region suffers from drought very frequently. There are reputed universities at Bijapur such as the Visvesvaraya Technological University, Karnataka State Womens University, Rajiv Gandhi University of Health Sciences, etc. The place has a rich cultural heritage reflected through its sophisticated literature.

Are you looking for an escapade to your dream destination, yet deterred by the pocket pinch?

Modern life is hectic and strenuous. Our busy lifestyles often leave us with barely any time or scope for leisure. A little bit of recreation is mandatory to cope with the emotional burnout of mundane life. Vacations can be the ideal solution - brief moments of recreation that can rejuvenate our minds and fill us with vigor to get back to routine with added enthusiasm.

What is a Holiday Loan?

Well, think of it as a personal loan that can fund your vacations. Unlike home loans and auto loans, this doesn't involve collateral. A holiday loan is an unsecured loan. The lending body evaluates your income level, employment history and of course your creditworthiness to decide whether you are eligible for a holiday loan. You may even apply for it online and get a quick approval too. Once you get the lump sum, you may spend it as you wish for traveling purpose. You have to repay the money in EMIs over time. It goes without saying that you should carefully plan a vacation budget before borrowing the money and subsequently refrain from overspending.

Get your free Credit report that cost  Rs 1200 for FREE

1. Build your Credit Score

2. Reduce your Current Borrowing / EMI Costs

Why Would I Need It?

Tourism has become a highly commercialized industry. The cost of traveling has risen considerably with the growing rate of inflation. Transport, accommodation, food - nothing comes cheap nowadays. You might have a particular destination in mind but settle for some other spot for budget constraints. While a few might save up for vacation expenses, many might not. You might have the desire to travel but lack a monetary backing. Why let your savings take a massive blow all at once when you can rely on an alternate mode and source of financing? Holiday loan is such a facility that lets you enjoy your holidays peacefully, without bothering about the expenses immediately. You could slowly and conveniently repay the amount over a period of your choice in steady monthly installments.

Where Do I Get a Holiday Loan?

The booming finance sector has undergone a massive revamp in the past decade. Most financial institutions offer a plethora of credit lines. Holiday loans have become quite prevalent, and almost every bank, NBFC and P2P lender offer it. However, it's imperative that you meet the eligibility criteria for such a loan. It is also crucial that you cautiously choose the lender. The perfect holiday loan should be taken from a lender who offers the best interest rates, a convenient moratorium period, feasible and flexible repayment scheme and efficient customer support team.

Get your free Credit report that cost  Rs 1200 for FREE

1. Build your Credit Score

2. Reduce your Current Borrowing / EMI Costs

How does a Holiday Loan work?

Quite similar to a Personal Loan, you need to approach a Bank, an NBFC or a P2P lender with an application. Most of the financial institutions allow you the convenience of applying for a loan online. They generally approve the loan instantly if you successfully meet their eligibility criteria and provide the required documents. Once the loan is sanctioned, there are no specific restrictions on how to use the loan funds. Availing holiday loans is quite easy and comes with myriad benefits and perks. Such loans are generally availed for a shorter duration, thus saving you your valuable money.

What are the Interest Rates for Holiday Loans?

The interest rates for holiday loans differ from bank to bank. Since these loans do not depend upon collaterals, expect the interest rates to be slightly higher than other secured loans. Most lenders would check your income level, credit score, profession, age, past loan repayment history before deciding upon an interest rate. If you have a laudable credit history, you are more likely to get a competitive interest rate on a holiday loan.

To Sum Up

Vacations give you a sense of ownership over your life. They help you refresh your mind for a few days before getting back to the bustling city life; they let you spend some blissful moments with your loved ones; they let you live life freely for a few days, away from the cacophony of your busy life. Holiday loans make such dream vacations possible without taxing your cash flows.

Low interest rate Home Loan in Bijapur, 11 December 2018 from ICICI Bank

ICICI Bank is an Indian multinational and financial services company headquartered in Mumbai, Maharashtra, India, with its registered office in Vadodara. In 2017, it became the third largest bank in India concerning assets and fourth regarding market capitalization. It offers many products and financial services for corporate and retail customers through investment banking, life insurance, non-life insurance, venture capital and asset management. The bank had a vast network of 4,850 branches and 14,404 ATMs in India having a presence in 17 countries as of 2017. In 1998, ICICIs shareholding in ICICI Bank was reduced to 46 percent, through a public offering of shares in India , followed by an equity offering in the form of American Depositary Receipts on the NYSE in 2000. ICICI Bank acquired the Bank of Madura Limited in an all-stock deal in 2001, Sangli Bank in 2007 and Bank of Rajasthan in 2010. In 2000, ICICI Bank became the first Indian bank to list on the New York Stock Exchange with its five million American depositary shares. In October 2001, the merger of ICICI and two of its wholly-owned retail finance subsidiaries was permitted by the Boards of Directors of ICICI and ICICI Bank, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank.

Get your free Credit report that cost  Rs 1200 for FREE

1. Build your Credit Score

2. Reduce your Current Borrowing / EMI Costs