So, How does Holiday Loan work?
Holidays are rejuvenating! Keep your vacation stress free and enjoy to the fullest with LoanTap’s flexible loan repayment option of travel loans. We understand expenses when you plan a holiday or family get together. Holiday Loans from LoanTap offer the flexibility of interest only payment for the first three months and then fixed EMI for the rest of the tenure. It keeps your monthly installment low when it’s needed the most. For example, a honeymoon or traveling for a relative’s marriage or air travel costs during the high festive season and there’s an emergency situation back home.
Why take Holiday Loan from LoanTap?
Instant approval & disbursal
Easy online process for loan sanction and fast disbursal within 24-36 hours
Flexible Repayment Option
Flexibility to switch to EMI free loan, enhancement and accelerated repayment option after 6 months of disbursal
Higher Loan Amount
Option to choose from amount ranging from INR 50,000 to INR 10,00,000 basis your requirement
Longer Loan Tenure
Flexibility to choose longer loan tenure from 6 months to 60 months making EMIs more affordable
We collect only what is basic minimum documents for all our custom personal loan products
No hidden charges, No pre-payment charges and secured processes
Basic Eligibility Criteria for availing Holiday Loans with LoanTap
- Individuals with a minimum monthly income of INR 30,000
- Indian citizens/residents who are 21 years and above
Basic Documents required for availing Holiday Loans with LoanTap
- PAN Card
- Salary Slips (Last 3 months)
- Salary Account Bank Statement (3/6 months)
- Address Proof
Personal Loan Product Suite
Flexible Repayment options
Interest only payment every month (40% lower monthly installment versus regular EMI) coupled with Bullet Payment every 3/6 months towards Principal. Ideal when: You receive additional income or an incentive every 3-6 months.
Interest only Payment for 3 months followed by fixed EMI. Gives you space to manage expenses post an event. Ideal when: Heavy expenditure is involved in a particular event such as Wedding or a Medical Emergency.
Repayment done via Fixed Equated Monthly Installments, where EMI=Principal + Interest. Each Installment reduces both interest and Principal amount. Ideal when: You know the precise Loan Amount needed and your income is consistent.