With the arrival of the summer, the financial companies saw a huge increase in the requests for loans for travel and holidays, a way more and more practiced by individuals and families to obtain the liquidity necessary to carry out both a pleasure holiday and a stay connected for other purposes such as studying or having to undergo medical treatment: for any of these reasons, the lenders offer the applicants different financing solutions, meeting the specific needs of each one, and allowing the beneficiaries to receive the requested sum directly on its current account and to use it without restrictions and any obligation to provide justifications to the lending institution. Let’s take a closer look at the general characteristics of the travel and vacation loan, the conditions through which funding is usually granted and some types of offers from major banks as an example.
Features of the holiday loan
Holiday loans can cover 100 percent of the journey, and in some cases are included travel related expenses, such as short trips or the goods and services purchased during the holiday: of course, the nature of the funding varies from on a case by case basis and depending on the possibilities offered by the individual credit institution, for which it is possible to have different proposals about the sums payable such as the duration of the amortization plan, which generally is between 12 and 60 months but in some cases it can be extended even at the age of 10. As for the reimbursement, it should be specified that this type of loan provides a fixed rate at a fixed rate, and the amount paid on average is less than 10 thousand euro, but in some cases it can reach up to 30 thousand euro.
How to apply for funding
Due to its special nature of a loan, there is a maximum freedom for the beneficiary from the point of view of the organization of the trip through the autonomous availability of the sum of money provided: in fact it is possible to decide to buy the trip in any agency or directly online, or still pay the living expenses directly at the holiday resort. This holiday loan can also be requested directly from the travel agency to which you are addressing, taking advantage of the agreements stipulated by the tour operator with specialized financial companies: this can entail the advantage of obtaining a discount thanks to the commission received from the agency on the financing as an intermediary, but on the other hand the possibility of choosing, among the various loan options available, the financing at the interest rate is cheaper, as it actually happens when addressing the single credit institution after comparing the various quotes.
As for any type of financing, also for travel and holiday loans, it is necessary to provide guarantees to the issuing bank to authorize the granting of the requested amount: generally it is necessary to provide proof of owning a stable source of income, as a copy of the paycheck or retirement statute, which protects the credit institution against the risks of insolvency, and the other condition is not to be included in the list of bad payers or protested, since in such cases it is much more complicated to enter the market of credit. For those who unfortunately fall into these categories, it is possible to stipulate a loan contract by transferring the fifth, thus allowing the return of the holiday loan by direct deduction of the installment on the paycheck or pension, minimizing the risk of insolvency.
Holiday loans offer
Just as an example, here are some of the offers of holiday loans by the main carriers operating on the credit market: Astrofinance offers 15 thousand euros in 96 installments of 200 euros per month, with TAN at 6.39 percent and APR at 6.58 for one hundred, and here you can perform simulations for different amounts in order to have quotes to compare. Agos also offers the possibility of obtaining various amounts by filling out the form on the website with payment of the sum within 48 hours of approval of the request and the possibility of using Cartaattiva for stays abroad, while Carrefour Banca offers 5 thousand euros to be returned in 3 6 installments from 163.31 euros, with TAN to 7.50 percent and APR to 13. We have provided some examples but it is good to remember that loan offers vary continuously especially during the summer, so it is good to consult the agencies on line to be informed about all the proposals in this regard.