FinTech Encourages Tourism with Holiday Loans

The gloom of the pandemic is behind us. ‘Live in the Moment’ is the new life mantra and everyone is keen to make the most of the time that they have now. People are now more than ever looking for wish-list holidays i.e., ticking off that bucket list. International trips are big on everyone’s agenda. Even within the country, families are jetting off to luxury holidays.

People are also travelling to meet friends and families. Many have been estranged during the pandemic and could not meet their loved ones, be it within the country or outside. And while the economy is growing at a desirable rate, people are now more cautious about their expenses and are mindful about it.

A Whole New World

FinTechs opened up a whole new world. As the world huddled together online to revolutionise medicines, it also rode high on the digital super highway. Digitisation absolutely changed the financial sector and gave it a much-needed facelift and confidence of sorts. This convergence of the finance sector with digital technology has given a boost to many sectors, one of them being travel.

The world it seems has woken from a slumber of sorts. People all over the world feel like they have lost out on time and want to make up for it. Ticking off that bucket list is much more important today.

What about that trip to a time in history, like say, Machu Picchu? Or what about bundling up the entire extended family, along with all the grandparents and cousins and setting off on an expensive trip to a desirable resort? How about packing up with the missus and the kids and flying away to dreamy Paris or very historical Rome? Or a very adventurous holiday with your best friends to the mountains?

So, you have drawn up that list of places you want to go to and the people you want to go with and how luxurious you want it to be. But how do you now fund that much awaited holiday without making a dent to your savings? Simple! Bring on the Holiday Loan.

Bring on the Holiday Loan!

The world is on a revenge-travel trip. After suffering for two whole years and still recuperating, people all over the world are looking to make up for lost time and travel. Family holiday vacations continue to see a healthy demand. And there is a marked increase and interest in taking holiday loans for international trips with the families.

A holiday loan helps you fulfil your long-cherished dream. It also helps you manage your finances better. Holiday loans are personal loans that are tailored to suit your requirements for helping you take a vacation. Holiday Loans offered by FinTechs are really helpful. They give you maximum diverse coverage, they cushion your expenses and help you to maintain your finances. They can be easily approved online; options of loan repayment and foreclosure are better than all other options like credit cards and keep your savings intact.

Holiday loans keep you stress-free with their flexible payment options. FinTech firms such as LoanTap are the safest bet when it comes to availing funds on short notice.

Taking a holiday loan from LoanTap will give the customer flexible repayment options where one can take a holiday loan for up to one year for an amount ranging anywhere from Rs 50,000 to Rs 5 lakh. The short tenure makes it easier to manage finances and the loan can be prepaid after six months, without any charges. It also prevents one from over-utilising one’s credit card which often comes at a higher monthly interest rate. With paperless and hassle-free transactions, it is just a matter of minutes for you to plan your travel to a dream destination.

Why Wait?

Along with auto loans, personal loans for holidays are the next big thing. With manageable EMIs, the loan amounts of Rs 1.5 lakh to Rs 2 lakh do not feel that daunting and that is a major encouragement to the travel economy as well as the FinTech sector. The shift in payment habits amidst and post the pandemic has created more opportunities for FinTechs to interact directly with consumers. Economies are still coming to terms with the hardships that they had to face, the virus is till lurking around, but people do not want to forfeit their dreams any longer. That is one of the reasons to rely on the FinTech sector to meet all their aspirations.

Millennials have seen a lot of hardships the last two years and are now of the belief that it is good to live in the moment. So, a lot of them are planning trips, vacations and experiences that help them cherish the moment. Vacations are a great way to bring the whole family together or spend time making memories with friends. Holiday makers are on the rise and that is a great news.

Why disrupt your savings when you can have a really enjoyable time with a well calculated holiday loan that lets you have a great time without the stress of breaking the bank! (Pun Intended!)

Read more about LoanTap here.

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