Can I take a small personal loan for a trip to Manali?

We all dream of visiting various places with our friends and family in a year and start planning a trip.

Manali is a beautiful hill station in India which many of us have always wanted to visit. But what if you do not have sufficient funds for a trip to Manali? For this, a small personal loan is a solution. Many of you believe it is not wise to take personal loans, as you may end up having an enormous debt due to personal loan interest rates. But there’s nothing wrong with fulfilling your short-term goals with a small personal loan.

Gone are the times when opting for a small personal loan used to be a tedious task. Now, taking a personal loan has become more accessible and convenient, with nominal personal loan interest rates.

Let us discuss why.

No Extra Baggage

If you plan to take a small personal loan for a Manali trip, your loan is not secured with collateral, such as your home or your car. Thus, no extra baggage to your assets.

Lower Interest Rates

A personal loan might not offer cashback points, warranties, etc. However, the personal loan interest rates are usually significantly lower, and you may even borrow much more.

Nominal Paperwork

Now you don’t need to waste time on paperwork to get a small personal loan. Instead, just save some paper and time, as you can apply for a loan online and submit scanned copies of the required documents.

Don’t Borrow Extra

Decide on taking the amount of loan that you need and can afford to pay back in time. So, you shall have enough cash flow to repay quickly. Try not to exceed more than 50% of your monthly income towards loan repayment. You may use online EMI calculators to calculate your EMI and tenure, then plan accordingly.

Know your documents

Always read the terms and conditions for taking a personal loan carefully to avoid unpleasant surprises. Ensure that the terms and conditions fully match those you agreed upon while discussing the loan.

Make the comparisons

Many financial institutions may fascinate you with personal loans at attractive prices, benefits to knock down the market competition and ace on getting more business. But don’t fall for the trap. Taking a loan from any random financial institution can be disastrous. Always research properly, compare the market, processing charges, pre-closure charges etc., and find a personal loan that suits your needs and is transparent.

You must also know how to take a personal loan and some basic requirements to get it approved quickly. Make sure you are ready with the following information as handy because you would need them to fill in details while putting in your application.

For quick approval, you will need:

  • Your personal data, which include your PAN number, Aadhaar Number, CIBIL score
  • Scanned copies of your payslips or income proof, bank statements and address proof

To conclude, taking a small personal loan is simple, easy, and quick today. You can get all the expenses related to your trip to Manali covered. Even taking a loan is hassle-free with easy EMIs, less paperwork, and no burden of collateral. So, without further ado, apply for a personal loan for your trip to Manali.