Travel Loan: A complete guide to eligibility, documents, and interest rates

Planning a dream vacation, but are financial constraints delaying it? These short-term loans are given to salaried individuals, self-employed persons, including professionals, and business persons, depending on their income levels. Salaried individuals and self-employed professionals with at least two years of experience are eligible for the loan. The minimum income requirement varies with each lender but you must earn at least ₹15000 per month to get the travel loan. To avail a travel loan, the following documents are required: Identity proof: Copy of Aadhaar card/ Voter ID/ Driving License/ Passport Address proof: Copy of Aadhaar card/ Voter ID/ Driving License/ Passport Income proof: Bank statement for the previous three months Two latest salary slips/current dated salary certificate with the latest Form 16 What should one watch out for in such loans?