You may want to go on your dream vacation and check destinations off your bucket list as soon as possible, be it visiting the forests of Dharamshala, trekking challenging Himalayan mountains, or biking to the pristine landscapes of Ladakh. Regardless of your itinerary, the key to a stress-free, enjoyable vacation is having ample funds. If your savings are insufficient, you can avail a loan against property for travel and fund your dream vacation without any compromises. Here’s what makes it an ideal solution to fund your vacation.
Collateral makes this a low-cost option
In case of a loan against property, lenders require you to pledge property that you own as security. This way, lenders assume a lower risk as compared to an unsecured loan. In return, they charge a competitive interest rate and offer a high loan amount. Owing to this your EMIs and interest payable will be lower, and the cost of borrowing will be economical. With such an affordable loan, you can enjoy every moment of your trip without a care in the world!
High sanction covers every single expense of your vacation
Depending on your dream destination, you may have to spend a lump sum to fund your travel, stay, food, and more. If you wish to go on a world tour, for example, a solo trip to developed countries such as Australia or Japan will easily cost you Rs.8,755 per day. For a family of four, the per day expense averages to Rs.25,915 per day. Typically, with a mortgage loan, you can access a sanction of up to 70% of your property’s value. This means that if your property is worth Rs.50 lakh, you can easily access up to Rs.35 lakh as a loan to fund your vacation without any compromises.
To ensure that you get a high-value sanction, apply for Bajaj Finserv’s Loan Against Property
that offers a loan of up to Rs.1 crore to salaried, and up to Rs.3.5 crore to self-employed applicants.
Long and flexible tenure makes repayment comfortable
In case of a mortgage loan, lenders offer flexible and lengthy tenure options to assist with timely repayment. For instance, with Bajaj Finserv, the loan against property tenure for a salaried borrower ranges from 2 to 18 years and as a self-employed applicant, the loan against property tenure goes up to 20 years. A longer tenure translates into lower EMIs, which means that you can repay the loan without straining your monthly budget. However, it may also result in a higher total interest payment. This is why it is important to select an optimal tenure to make repayment comfortable yet affordable.
Deem this to be the best option for your travels? If so, check your pre-approved offer to view tailor-made deals and enjoy one-step hassle-free online approval! All you have to do is submit your name and contact details. You are just one step away from going on your dream vacation when you apply to Bajaj Finserv through this option.