A well-planned holiday should be about creating memories, not worrying about immediate expenses. A travel loan can help you spread the cost of your trip over manageable monthly instalments instead of using up your savings at once.
Whether you are planning a domestic getaway or an international holiday, a personal loan for travel can be used to cover flights, accommodation, visa fees, local transport, sightseeing, shopping, and other travel-related costs.
If you are looking for a travel loan in India, SMFG India Credit offers a convenient financing option that lets you plan with greater flexibility. A vacation loan, or personal loan for vacation, can help you travel when the opportunity arises while keeping your finances on track.
A travel loan in India is a type of unsecured personal loan used to finance domestic or international travel expenses. You do not need to pledge any assets to apply. Once approved, the funds are credited to your account, and you repay through fixed monthly instalments known as EMIs (Equated Monthly Instalments) over your chosen tenure. In simple terms, a travel loan allows you to meet your travel expenses upfront while repaying the borrowed amount in manageable monthly instalments.
Quick Online Approval
Check your eligibility, fill out a form online, upload your documents and get quick loan approval!
Online Account Access
Customised portal to help you manage your loan for travelling abroad anytime, anywhere.
Quick Loan Disbursement*
Get the requested funds in your account shortly after your holiday loan in India is approved.
Loan up to Rs. 30 Lakhs*
Get up to Rs. 30 Lakhs* with flexible loan repayment tenures ranging from 12 to 60 months.
A memorable trip does not always have to wait until you have saved the entire amount. If you are wondering why to choose a travel loan, it offers a practical way to fund your plans while preserving your emergency savings for unexpected situations.
The travel financing benefits include a fixed repayment structure, greater budgeting flexibility, and the ability to spread travel costs over a suitable tenure. Financing your family holiday, honeymoon, or international travel loan for an overseas trip responsibly can help you enjoy the experience without putting unnecessary strain on your finances.
A travel loan offers the flexibility to pay for a wide range of travel-related expenses, making it easier to plan both domestic travel and overseas holidays without paying the entire cost upfront. Understanding what a travel loan covers can help you estimate the amount you may need. Whether you are planning a short break, a family holiday, or using a vacation loan for a special trip, the funds can generally be used for:
A personal loan for travel gives you the flexibility to manage these costs through structured repayments instead of making a large one-time payment.
Travel personal loan eligibility is determined based on basic parameters like income, repayment capacity, and credit score. To estimate the loan amount you may qualify for, you can refer to a personal loan eligibility calculator before applying.
|
Factors |
Salaried Employees |
Self-Employed Individuals |
|
Age |
Must be between 21 and 65 years |
Must be between 21 and 65 years |
|
Nationality |
Must be a resident Indian |
Must be a resident Indian |
|
Credit Score/CIBIL Score |
Must be 705 or above |
Must be 700 or above |
|
Work/Business Experience |
Must have at least 1 year of work experience, with the last 6 months under the current employer |
Business must be at least 3 years old |
|
Minimum Income |
Monthly income must be at least Rs. 16,000* |
Annual turnover must cross the minimum threshold, varying based on the profession |
|
EMI (Equated Monthly Instalment) |
EMI should be a maximum of 60% - 70% of the monthly income |
EMI should be a maximum of 65% of the monthly income |
*Please note that this is only the basic eligibility criteria for a personal loan for vacation. The final eligibility and loan approval will depend on several factors, including SMFG India Credit’s policy at the time of online loan application.
When applying for financing for travel, having all the personal loan documents prepared in advance can significantly speed up both the online application and loan approval process.
Below are the commonly required documents for travel loans:
|
Document Type |
Salaried Employees |
Self-Employed Individuals |
|
PAN Card |
● PAN card, or Form 60, for the applicant as well as any co-applicant |
● PAN card, or Form 60, for the applicant as well as any co-applicant |
|
Proof of Identity and Proof of Address (any one) |
● Passport ● Driving Licence ● Aadhaar ● Voter Identification from the Election Commission of India ● MNREGA Job Card endorsed or signed by a State Government officer ● National Population Register letter with name and address details |
● Passport ● Driving Licence ● Aadhaar ● Voter Identification from the Election Commission of India ● MNREGA Job Card endorsed or signed by a State Government officer ● National Population Register letter with name and address details |
|
Signature Proof (any one) |
● Passport ● PAN |
● Passport ● PAN |
|
Official Statements |
● Official account statements for the last 6 months |
● Official account statements for the last 6 months |
|
Income Documents |
● Salary slips for the last 3 months ● Income Tax Returns or Form 16 |
● Balance sheet and profit and loss account, income computation for the last 2 years ● Income Tax Returns for the last 2 years ● IT Assessment or Clearance certificate ● Income Tax challans or TDS certificate (Form 16A) OR Form 26AS for income declared in ITR |
|
Business Proof (any one) |
● NA |
● Licence ● Registration Certificate ● GST Number |
Keep in Mind:
If you include a co-applicant in your personal loan for travel application, their PAN, KYC details, and other basic documents must also be provided. The document list above is indicative, and further documents may be asked for, based on your credit profile, specific loan product, and prevailing policies at the time of loan application.
SMFG India Credit offers competitive travel loan interest rates starting from 13%* per annum. The final rate is determined based on factors such as your credit profile, income, loan tenure, and existing relationship with the lender.
In addition to the personal loan interest rate, nominal charges may apply as below:
|
Fees & Charges |
Amount Chargeable |
|
Personal Loan Interest Rate |
Starting at 13%* per annum |
|
Processing Fee |
Up to 3.75% of the total loan amount + GST |
|
Late Payment Charges |
2% per month (24% per annum) on overdue amount calculated on day to day basis payable from the relevant due date till date of actual payment |
|
Cheque/ECS/NACH Dishonour Charges (per dishonour of cheque/ECS/NACH per presentation) |
INR 500 + GST |
|
Loan Cancellation Charges (loan cancelled before the first EMI) |
INR 1,000 + GST |
|
Prepayment Charges |
2% to 7%* |
|
Foreclosure Letter Charges |
Rs. 500 |
|
Stamping Fees |
At rates applicable as per state laws |
When you apply for a travel personal loan, your application is assessed based on several financial and eligibility parameters. Understanding the key travel loan approval factors can help you prepare your application better and improve the chances of success. Some common considerations of personal loan approval include:
Being aware of these factors can also help you avoid common travel loan rejection reasons and submit a more complete application. Additionally, maintaining a healthy financial profile before you apply for a personal loan for travel can improve your eligibility and may help you secure more favourable loan terms.
Before applying, it is useful to calculate travel loan EMI so you can choose a repayment plan that fits your budget. Your monthly instalment depends on the loan amount, applicable interest rate, and selected tenure. You can estimate this using the travel loan EMI formula:
EMI = [P × R × (1 + R)^N] ÷ [(1 + R)^N − 1]
Where:
For quicker and more accurate results, use a personal loan EMI calculator to compare different loan amounts and repayment tenures before applying.
The table below gives you an idea of estimated EMIs based on different loan amounts at 13%* per annum:
|
Loan Amount |
Tenure |
Estimated Vacation Loan EMI |
|
Rs. 1,00,000 |
12 months |
Rs. 8,932 |
|
Rs. 1,00,000 |
36 months |
Rs. 3,369 |
|
Rs. 3,00,000 |
24 months |
Rs. 14,263 |
|
Rs. 5,00,000 |
36 months |
Rs. 16,847 |
|
Rs. 5,00,000 |
60 months |
Rs. 11,377 |
*Figures are indicative. Actual EMI, interest rate, and loan terms may vary based on the applicant's profile and policies at the time of loan application.
Here’s how you can easily submit an online travel loan application at SMFG India Credit:
*Applications above Rs 2.50 lakhs may need additional evaluation. Our representative will contact you if more inputs are required.
Have retained these steps as they're the standard application procedure.
A travel loan can make your holiday expenses more manageable, but good repayment habits are essential once the funds have been disbursed. After loan disbursal, keep your monthly repayments in mind when planning other expenses and avoid taking on unnecessary debt.
An SMFG India Credit travel loan can help you plan your dream vacation without compromising your financial stability. Whether you're booking international flights, hotel stays, or managing other travel-related expenses, this unsecured personal loan for travelling abroad or domestically comes with flexible repayment tenures, competitive interest rates, and a 100% paperless application process.
Start your journey today by checking your personal travel loan eligibility online and taking the first step toward a well-planned, stress-free holiday.
* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.
A travel loan is a type of personal loan designed to fund holidays, vacations, and international trips. This form of travel finance helps you cover expenses like flights, hotels, food, and sightseeing without using savings or waiting to accumulate funds.
Yes, you can get a personal loan for travel from lending institutions, including an NBFC (Non-Banking Financial Company). Loan approval depends on factors like your credit score, income, and repayment capacity, making it possible to finance both domestic and international trips.
A personal loan for travel online provides upfront funds for travel expenses. The digital loan is repaid in monthly EMIs (Equated Monthly Instalments), including interest, over the selected tenure. The loan terms are determined based on your credit profile and eligibility.
Eligibility for travel loans includes being an Indian resident aged 21–65, having a stable income, and maintaining a healthy credit score. Salaried and self-employed individuals who meet income requirements and provide valid documents can apply successfully.
You can take our personal loan for a variety of reasons.
Wedding Expenses
Higher Studies
Exotic Vacations
Hobbies
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