Traveling to the USA? Here's how a travel loan can make it worthwhile

Are you dreaming of strolling through Times Square, taking a bite of a juicy burger in the Big Apple, or soaking up the sun on California's beaches?

The United States of America is a country with attractions galore. Yet so many people do not realise their dream of visiting the USA simply because the trip feels out of their reach financially. Well, we’ve got some exciting news for you!

There is no doubt that travelling to the USA comes at a high cost While you might have accumulated trip money to meet the expenses, a travel loan can supplement your budget and help you travel worry-free. Yep, you heard it right - a travel loan that can make your American adventure extra special!

If you're thrilled to explore the states but your wallet's feeling a little light, worry not! IDFC FIRST Bank FIRSTmoney is here to make your dream travel plans come true with their nifty travel loan. 

While a travel loan such as FIRSTmoney might seem unusual, this smart personal loan can turn your dream trip into a reality without breaking the bank. So, buckle up and get ready to discover how a travel loan can make your journey to the USA truly unforgettable!

What is FIRSTmoney?
 

FIRSTmoney is a flexible loan - an instant line of credit that gives credit access of up to ₹ 10 lakhs. It is offered to salaried and self employed indivisuals having a credit score of 730+. With FIRSTmoney, you can get a travel loan instantly and plan a memorable trip. Enjoy unlimited withdrawals up to the credit limit and pay interest only on what you borrow, not the entire credit line. Moreover, you have the option to choose your EMI tenure and amount.

How can FIRSTmoney enrich your USA trip?
 

Wondering how FIRSTmoney can be the perfect travel solution? Read on –

• Easy access
  For starters, getting access to credit with FIRSTmoney is very quick and simple. Just apply online and unlock a seamless digital process with no paperwork. Complete some simple online steps and get the credit approved as soon as possible.

• Multipurpose 
  FIRSTmoney offers you a no-questions-asked credit limit, which is accessible to you for any financial need that you might have. So, whether it is paying for the Visa, buying souvenirs, sampling the local cuisine or booking the travel entirely, FIRSTmoney can be your go-to financial solution.

• Low interest rates
  What sets FIRSTmoney apart from traditional travel loans is the way the interest is calculated. While FIRSTmoney gives you lump sum credit access, the interest is charged only to the amount that you withdraw.
  
  For instance, say you get a credit line of ₹ 5 lakhs, and you withdraw only ₹ 3 lakhs to meet your travel expenses. In this case, FIRSTmoney will charge interest only on the ₹ 3 lakh withdrawn and not the overall limit of ₹ 5 lakh.
  
  This reduces your interest costs considerably and helps you save on repayments.

• Cost-effective solution 
  FIRSTmoney has very low processing charges, making it a pocket-friendly option. Moreover, if you have surplus funds at your disposal, you can repay your debt early and foreclose it without incurring any foreclosure charges.

• Hassle-free repayments 
  Lastly, repaying FIRSTmoney is as convenient as availing it. All you must do is choose a suitable repayment tenure and the date at which you want to pay the EMIs (Equated Monthly Instalments). Repay affordably without any financial strain while availing the flexibility offered.

Common misconceptions – busted!
 

There are many misconceptions when it comes to using travel loans such as FIRSTmoney for your international trip. Let’s bust these notions and see the clear picture –

• Misconception – FIRSTmoney cannot fund international trips.
  Reality – Of course, it can, and it does! FIRSTmoney gives you credit access, and you can use the funds for any financial obligation, no questions asked, including funding an international trip.

• Misconception – You cannot use FIRSTmoney abroad.
  Reality – Yes, you can! All you need to do is access your account and withdraw, whether you are in India or abroad. This means that you can travel with FIRSTmoney and use it to make withdrawals abroad too.

• Misconception – You might need a collateral to get the credit line.
  Reality – FIRSTmoney is a collateral-free credit line offered based on your credit score and other eligibility parameters. As such, no collateral is needed. Just apply online and get the limit sanctioned based on your eligibility qualifications.

• Misconception – FIRSTmoney is a type of personal loan.
  Reality – FIRSTmoney is a line of credit, not a personal loan. A factor that differentiates it from personal loans is the interest calculation. As mentioned earlier, FIRSTmoney charges interest only on the amount that you borrow, not the sanctioned credit limit. With personal loans, however, interest is charged on the whole sanctioned loan amount.
  
  Hence, FIRSTmoney is not a personal loan but another funding solution which gives instant credit access.

Plan a memorable trip with FIRSTmoney

Whether you want to party away at the Las Vegas casinos and clubs or visit the beaches of Miami, indulge yourself. Traveling to the USA is not an everyday affair. Make sure that you enjoy yourself to your heart’s content when you visit the USA.

As far as the budget or travel loan is concerned, leave the worries to FIRSTmoney. Enjoy your trip and get FIRSTmoney to meet the expenses of airfares, hotel accommodations, or sightseeing. Whatever the expenses, FIRSTmoney gives access to easy money with unlimited withdrawals so that you can travel with ease, convenience, and financial assurance.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.