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?

Whether it is a family vacation or honeymoon, there will be financial requirements while booking as well as while traveling. Choosing LoanTap’s Holiday Loan will lead to better expense management during holidays.

Instant approval & disbursal

Instant approval & disbursal

Easy online process for loan sanction and fast disbursal within 24-36 hours
Flexible Repayment Option

Flexible Repayment Option

Flexibility to switch to EMI free loan, enhancement and accelerated repayment option after 6 months of disbursal
Higher Loan Amount

Higher Loan Amount

Option to choose from amount ranging from INR 50,000 to INR 10,00,000 basis your requirement
Longer Loan Tenure

Longer Loan Tenure

Flexibility to choose longer loan tenure from 6 months to 60 months making EMIs more affordable
Minimum documents

Minimum documents

We collect only what is basic minimum documents for all our custom personal loan products
Transparent Process

Transparent Process

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

No matter what your requirement, use LoanTap’s Special Purpose Loan to fulfill all your needs.

House Owner Loan

Rental Deposit Loan

Holiday Loan

Wedding Loan

Medical Loan

Credit Card Takeover Loan

Two wheeler loan

Electric Two wheeler loan

Premium Bike Loan

Personal Loan

EMI Free Loan

Personal Overdraft

Advance Salary

Flexible Repayment options

Final installment options for a loan will be decided based on your profile and inputs.

EMI Free

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.
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Step Up

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.
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Term Loan

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.
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Frequently Asked Questions

Holiday Loans provide customers with ease of loan repayment. This loan permits the customer to pay only interest payment for the first three months and then followed by EMIs. It has been designed to provide customers with necessary time to settle financially post incurring huge travel expenses.

Any individual with a monthly income more than Rs 30,000 can apply online and check eligibility at You will need to fill in few basic information to know your basic eligibility instantly. Final loan amount is decided on the basis of your eligibility and credit checks.

LoanTap offers Holiday Loans ranging from Rs 50,000 and up to Rs 5 Lakhs. Loan tenure of 6 – 36 months is available for Holiday Loan.

We have a very quick and efficient underwriting system which ensures that we deliver to you on time. It usually takes from 24 to 36 working hours; provided all documentation and credit checks are in place.

Our loan covers all kinds of expenses, domestic or international. And yes, you can use it for any type of expense as per your need.

No, we do not require your travel details. We just need your PAN, address proof, 6 months’ salary account statement and 3 months’ pay slips.

Financial requirements are huge during holiday times. So, one tends to utilize all sources of funds available. Despite every requirement, one should avoid using credit cards for high amounts. Interest rates charged on credit card outstanding amounts are usually as high as 3-4% per month. On the other hand, a Holiday loan offers debt at a much lower rate and builds in financial discipline with repayments. Normally, you save at least 50% on interest outflows when you compare holiday loans with credit cards. Flexible payment of Holiday Loan from LoanTap gives you a buffer of interest only payment for the first five months.

Holiday Loan is available in cities where LoanTap is operational. Currently we are providing our loans in Bangalore, Hyderabad, Chennai, Coimbatore, Mumbai, Pune, Ahmedabad, Vadodara, Raipur, Bhopal, Indore, Jaipur, Delhi-NCR, Ajmer, Lucknow, Mysore, Visakhapatnam, Kolkata, Howrah, Bhubaneshwar, Patna, Nagpur, Nashik, Rajkot, Surat and Chandigarh locations.

Processing fee for this loan is 2%+applicable taxes; on the gross loan amount sanctioned.

Yes, you can make higher payments towards your loan. No charges for higher payments or foreclosure are applicable post 6 months. Within 6 months you can make part payments or foreclosure-with minimal charges applicable.

LoanTap’s Holiday loan offers repayment options like Step Up Repayment Option (interest only payment option for the initial 3 months, followed by fixed EMIs); EMI Free repayment plan (Interest payment every month and bullet payments towards principal outstanding every 6 months): and Term Repayment plan (Pay equal monthly installments throughout the tenure).The decision of the final repayment plan is taken on basis of your eligibility and credit checks.

Yes, you can make higher payments towards your loan. No charges for higher payments or foreclosure are applicable post 6 months. Within 6 months you can make part payments or foreclosure-with minimal charges applicable.

Yes, you can pre-pay the loan facility post 6 months of disbursement. No foreclosure charges are applicable post 6 months of loan completion, however within 6 months you can prepay your loan with minimal charges.