Almost all people earning a monthly salary or pay would want to go on a holiday or vacation.
However, not many of them save enough money for their travel and other expenses, and therefore, try to get a travel loan.
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A travel loan is a kind of personal loan that is attained for the purpose of travelling.Applying for a travel loan is not very simple, however, a few essential requisites need to be satisfied before you apply for the loan.
Some of the common criteria that are necessary as according to all lenders before they grant you a travel loan are as follows: AGE: Some of the financial institutions set the minimum age criteria to be 21 years, while some of them set it to be 23 years, and below 55 years.INCOME STABILITY: Most lending institutions ensure to verify that the potential borrower has been in the job with the company for a term of at least 6 months.GOOD CREDIT SCORE: You must have a good credit score before you apply for a travel loan.
They areFULL TIME PROFESSIONALS: Full time professionals who are paid a take-home salary of minimum Rs.