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what is holiday loan?

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Holiday loans are same as personal loans. You can use this loan to clear all your travelling bills. In this way, you can have your savings aside and enjoy your trip too. – PowerPoint PPT presentation

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Date added: 3 October 2019
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Title: what is holiday loan?


1
  • Holiday Loans

https//www.fleetquid.co.uk/
2
What is a holiday loan?
  • You dont always have enough money
  • put aside for your holiday trip.
  • So, you can opt for holiday loans
  • from various lenders and then fund
  • your vacation with the loan amount.

https//www.fleetquid.co.uk/
3
These holiday loans are the unsecured type of
loans which means they are not tied to any
assets used as collaterals.
https//www.fleetquid.co.uk/
4
Points to consider before applying for a holiday
loan
  • 1. Loan Amount
  • When taking a holiday loan, people should know
    how to manage the funds efficiently. It is better
    to take the loan amount as per the repayment
    capability and the amount that your falling short
    of.

https//www.fleetquid.co.uk/
5
2. Loan Tenure
  • Loan tenure is the most important one. Calculate
    the EMI that you must pay before availing of the
    loan. Because shorter loan tenure will make you
    pay higher interest rates. opt for the lenders
    who are offering lower interest rates, this will
    give better results.

https//www.fleetquid.co.uk/
6
3. Repayment Of Loan
  • Before applying for the loan, the individual must
    check which bank is offering flexible loan
    repayment options. Flexible options will minimize
    the chances of defaulting the payment.

https//www.fleetquid.co.uk/
7
4. Budget your holiday
  • The borrower should plan the holiday in a
    budgeted way and not take the loan more than the
    required amount. We should have control over the
    expenses so that it would be easy to repay back
    smaller amounts.

https//www.fleetquid.co.uk/
8
When should you opt for a holiday loan? If you
have to liquidate your long-term savings or
fixed deposits in order to take a vacation then
you can opt for holiday loans, this will fund
your expenses like travelling, accommodation,
food, etc.
https//www.fleetquid.co.uk/
9
You can avail the loan amount according to your
capability of repaying back. As these loans are
unsecured, lenders give the loan based on your
income level and other factors.
https//www.fleetquid.co.uk/
10
Advantages of taking up holiday loans.
  • 1. Improves credit score
  • Paying back the loan amount on time improves the
    credit score, which will make you eligible for
    availing other loans.

https//www.fleetquid.co.uk/
11
  • 2. Less documentation
  • Paying back the loan amount on time improves the
    credit score, which will make you eligible for
    availing other loans.

https//www.fleetquid.co.uk/
12
  • 3. No collateral

These loans are unsecured loans so there is no
requirement of the borrower to put collateral
with the lender.
https//www.fleetquid.co.uk/
13
info_at_fleetquid.co.uk
https//www.fleetquid.co.uk/
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