FinTech encourages tourism with holiday loans

by James · July 21, 2022

FinTech encourages tourism with holiday loans

The darkness 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 they have now. People are now more than ever looking for wish list vacations, i.e. ticking off that bucket list. International travel is high on everyone’s agenda. Even in the country, families fly for luxury vacations.

People also travel to meet friends and family. Many have been alienated during the pandemic and could not meet their loved ones, whether in the country or outside. And while the economy is growing at a desirable rate, people are now more careful about their spending and are aware of it.

A whole new world

FinTechs opened up a whole new world. As the world huddled online to revolutionize medicine, it also drove high on the digital superhighway. Digitization absolutely changed the financial sector and gave it a much-needed facelift and some sort of confidence. This convergence of the financial sector with digital technology has given a boost to many sectors, one of which is travel.

The world seems to have awakened from a sort of slumber. People all over the world feel they have lost time and want to make up for it. Crossing off that bucket list is much more important today.

How about that trip to a time in history, such as Machu Picchu? Or how about getting the whole extended family together, together with all the grandparents and cousins, and embark on an expensive trip to a sought-after resort? What about packing up with the missus and the kids and flying away to dreamy Paris or very historic Rome? Or a very adventurous holiday with your best friends in the mountains?

So you’ve made that list of places you want to go and the people you want to travel with and how luxurious you want it to be. But how do you now finance that much-anticipated vacation without doing anything with your savings? Simple! Take out the holiday loan.

Take out the holiday loan!

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

A holiday loan helps you fulfill your long cherished dream. It also helps you manage your finances better. Holiday loans are personal loans that are tailored to suit your needs to help you take a holiday. Holiday loans offered by FinTechs are very useful. They provide you with maximum varied coverage, they reduce your expenses and help you maintain your finances. They can be easily approved online; Options for loan repayment and foreclosure are better than all other options such as credit cards and keeping your savings intact.

Holiday loans keep you stress-free with their flexible payment options. FinTech companies such as LoanTap is the safest option when it comes to using funds at short notice.

Taking a holiday loan from LoanTap will provide the customer with flexible repayment options where one can take a holiday loan for up to one year for an amount ranging from Rs 50,000 to Rs 5 lakh. The short term makes it easier to manage the finances and the loan can be paid in advance after six months, at no cost. It also prevents one from overusing their credit card, which often has a higher monthly interest rate. With paperless and hassle-free transactions, it’s only a matter of minutes for you to plan your trip to your dream destination.

Why wait?

Along with car loans, personal holiday loans are the next big thing. With manageable EMIs, loan amounts of Rs 1.5 lakh to Rs 2 lakh do not feel so daunting and that is a big boost for the travel economy as well as the FinTech sector. The shift in payment habits amid and after the pandemic has created more opportunities for FinTechs to interact directly with consumers. Economies are still coming to terms with the difficulties they may face, the virus is lurking, but people don’t want to lose their dreams anymore. That is one of the reasons to trust the FinTech sector to fulfill all their ambitions.

Millennials have seen a lot of adversity in the last two years and are now of the belief that it is good to live in the moment. So many of them plan 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 visitors are on the rise, and that’s good news.

Why disturb your savings when you can have a really good time with a well-calculated holiday loan that allows you to have a great time without the stress of breaking the bank! (Pun Intended!)

Read more about LoanTap here.

Federal assumes no editorial responsibility for this content.