Travel Loan vs EMI against Credit, Debit Cards: Which one will suit you better?

By: |
Published: November 21, 2019 3:47:11 PM

Travelling not only allows you to rediscover new places, but also allows you to rejuvenate by providing a much-needed break from the hectic schedule of work life.

travel, travel expenses, travel loan, EMI against credit card, EMI against debit card, solo travelers, budget travelers, interest rates, travel insurance, Zero-cost travel EMIIt’s the expense that holds back aspiring travelers from traveling more and beyond.

Travelling not only allows you to rediscover new places, but also allows you to rejuvenate by providing a much-needed break from the hectic schedule of work life. However, it’s the expense that holds back aspiring travelers from traveling more and beyond. But, with the help of travel loans and EMIs, people can travel without worrying much about that.

With ease in cost burden, travelling has become easier for millennials, be it solo travelers or budget travelers, resulting in a significant boom in the travel industry.

Now, lots of loan aggregators and digital lending platforms are there to help travelers plan their travel easing their cost burden.

However, travel loan comes with a lot of terms and conditions and is still a hassled process, as one has to bear in mind certain aspects like the amount of loan you can take, high interest rates, security against the same, tenure of the loan, repayment, insurance, etc.

To eliminate the hassles, many travel tech platforms are offering easy EMI facilities to their patrons against their debit or credit cards.

“For a lot of people, managing cash flow is a challenge. Enabling EMIs to travel is something that makes the life of travelers easy. Zero-cost EMIs also help the travelers block the variable rates without blocking the cash in hand in advance. We also believe when credit is available in the market for free, users should be able to avail it on a tap of a button,” said Rahul Singh, CEO & Co-Founder of Ithaka, a travel planning platform that offers zero-cost paperless EMIs in partnership with Snapmint (company which provides simplified EMIs against credit cards).

Everything you need to know about the zero-cost travel EMIs:

  • Travelers can avail EMI from any lending platform against their credit or debit cards.
  • Travelers who have taken travel loan, can also avail the EMI service. For example, if a traveler has taken a loan for x amount and he faces a situation of over budgeting where expense is more than what he had expected it to be. For such a situation, the over head they can cover by choosing travel EMIs.
  • EMIs can be taken for the full amount of the payment which can be free of cost without any additional charges.
  • There are platforms which allows travelers to book everything through EMIs and are not charged anything extra. They provide flexibility and option of customisable EMIs to the needs of travelers.
  • Zero interest repayments are available for 3-4 months tenure, the tenure differs with the lending platforms. Travelers can enjoy their travel, come back and clear their outstanding amount.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1SEBI move to double minimum PMS investment limit aimed at protecting interest of retail investors
2PPF Vs NPS Vs MF: Where and how much to invest to accumulate adequate retirement corpus?
3How to reduce the EMI of your home loan