5 Ways To Use Instant Personal Loan for Travel - Unity Bank
5 min read | 10 months ago
If you have applied for an instant personal loan online, how about using it to fund your next travel adventure? If you are already taking this route, you are in good company. More Indians are now taking personal loans to meet vacation-related costs, according to a Paisa bazaar report. 21% of citizens took these loans for travel between January and June 2023. So, on that note, let us look at five amazing and creative ways to use these loans for travel.
Fund Dream Vacations to Exotic Destinations
You can use an instant personal loan online to fund your dream holiday to an exotic destination. It is a wonderful idea in the current scenario when many countries offer visa-free travel for Indians. If you love the mountains, Bhutan and Nepal are excellent choices with their trekking trails, ancient temples and monasteries, charming villages, and more. Some other options include Thailand, Bali, Fiji, Sri Lanka, Niue Island, and many more. If you have the budget, the sky is the limit when it comes to choosing exotic destinations.
Travel For Educational Purposes
Using your instant personal loan online to travel for educational purposes is also a good idea. You can strategically combine your trip with higher education (such as a course or degree) or other skill-development and learning pursuits like workshops, conferences, seminars, short diploma programs, local classes, language lessons, and more. Along with enhancing your resume and experience, travel for educational purposes also helps you broaden your professional networks and understanding of different cultures.
Loan Tenure
The repayment period for MSME loans can range from short-term (a few months) to long-term (several years), depending on the purpose of the loan and the borrower's preferences.
Plan Destination Weddings or Honeymoons
Your personal loan can help you plan a fabulous destination wedding in your dream location. From Goa and Kerala in India to places like Bangkok or Bali, there are several choices available in this category. Alternatively, you can plan a romantic honeymoon in India or abroad, covering the main costs with your instant personal loan online. Some top honeymoon destinations worth considering include Krabi, Mauritius, Greece, Amalfi Coast, and Sri Lanka. Domestic honeymoon destinations include Goa, Lakshadweep, Andaman and Nicobar Islands, Kerala, Ooty, and Meghalaya, to name a few.
Invest in Memorable Experiences
Demand has grown considerably for experiential and travel in recent times. You can join the increasing tribe of travellers investing in a lifetime or memorable experience above everything else. It can be anything from skydiving or scuba diving to other adventure sports, hot air balloon rides, camping in the desert, relishing local cuisine and cultures in remote locations/communities, and more. For some, it may mean spending time in the wild and viewing majestic creatures up close, while it may equate to a life-changing trek for others. Whatever it is that you are passionate about, use your loan to accomplish the same.
Buying Proper Travel Equipment and Accessories
Seasoned travelers know the importance of having the right equipment. If you are a keen photographer, investing in a powerful camera with suitable lenses is a good idea. At the same time, frequent travelers will also need good walking/hiking shoes, suitable clothing for varying weather conditions, and eyewear. At the same time, other travel essentials like multi-chargers, backpacks, and other accessories are also necessary. You can use your instant personal loan online to upgrade travel equipment. It will be an investment that pays off in the long run.
Conclusion
Summing up, you can use your loan to fund your travel dreams in many creative and unique ways. From enjoying lifetime experiences to making memories, developing your skills, or even taking a romantic trip with your beloved- the sky is the limit! Use your personal loan wisely and repay it promptly to avoid piled-up debt.
FAQs
About Unity Small Finance Bank
Unity Small Finance Bank is committed to making banking simpler and more accessible for everyone. Our services include Savings Account, NRI account, Current Account, Fixed Deposits, and Personal Loans offering flexible tenures and attractive interest rates. We also offer financing options like MSME Loans and Microfinance to support businesses and underserved communities. Learn more about Unity Small Finance Bank here.
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