What is holiday loan

"Get detailed information on the Holiday loan, get to know about holiday loan, holiday loan eligibility criteria, how to apply for holiday loan, documents required for holiday loan, holiday loan interest rate"

9 mins read

Published: 16 January 2023

Updated: 19 September 2023

Loan for holidays is a smart way which can help you to explore different places without worrying much about money. A planned holiday is a myth, as we end up spending more than planned. But switching to the smart solution of taking loan for holidays can help us in a long run of life. Each one of us deserves holiday from the hectic life, and that too a planned holiday will be more beneficial for us. My Mudra holiday loan is a one step solution for the people who are thinking of taking off from their mundane life and explore the world.

A vacation loan is a personal loan offered by lenders like banks, NBFCs based on the CIBIL score, financial and personal details of the borrower. It is an unsecured loan therefore, it can be applied without any collateral on the basis of CIBIL score and other details. Maintain your CIBIL score and increase your chances of getting a loan hassle-free. Applying and approval of personal loan is child’s play with My Mudra. Get your vacation loan at lowest interest rate starting from 12.25% p.a. Opt for the long tenure and repay your holiday loan in easy and planned EMIs. Do not let money become hurdle in your deserved holiday, explore the world with us swiftly.

When you should opt for holiday loan?

      · Unplanned holiday: Holidays are sometimes unplanned and calls for unannounced expenses. Taking a vacation loan will quench your financial thirst easily and you can enjoy your holiday.

      · Boosting the CIBIL score: A personal loan for holidays will boost your CIBIL score and hence, it will increase chances of getting loan in future.

      · Covering holiday expenses: A vacation loan can easily cover major expenses like tickets, and hotels. Hence, opting for the vacation loan can ease your stress of expensive tickets and hotel rooms.

      · A smart switch from credit cards: A credit card is an easily accessible option but the interest rate is usually higher, hence, personal loan on holidays is the best option as it offers low interest rates and longer tenure.

      · Attractive features: Holiday loan can be approved on minimal documentation, less interest rate and swift disbursal of loan amount.

    Eligibility Criteria for Holiday loan

       · Nationality: Indian

       · Age: 21 years to 67 years

       · Employment Status: Employed with MNC, private, or public companies.

       · CIBIL score: 700 or higher

       · Minimum Salary: The minimum salary for holiday loan should be Rs. 22000.

Documents required for Holiday Loan

       · Duly filled application form with the latest passport-sized photographs.

       · KYC documents of the applicant such as PAN Card, Aadhaar, Passport, Voter’s ID card,

       · Salary Slips of last three months.

       · Employee ID card.

       · Bank Account Statement for the last three months.

Interest rate and charges for Holiday Loan

Mentioned below is the interest rate on holiday loan and other charges on holiday loan.



Interest Rate / Charges

Interest Rate

10.25% p.a.

Processing Charges

1% - 2%

Other charges


How to apply for vacation loans?

Apply for vacation loans easily with My Mudra by folllwoing the steps mentioned below.

         · Apply for vacation loans online at My Mudra.

    · Fill in the required information and get the documentation done through the paperless process.

          · Receive approval and disbursal of vacation loan within a day.


Take a productive and smart decision to quench your financial thirst easily by providing maximal relaxation with vacation loan. Get your vacation loan approved and disbursed today with My Mudra vacation loan. Instead of a burden a loan will become a planned decision with us. My Mudra is with you to pass financial hurdle hassle-free. Contact us for vacation loan on less interest rate and longer tenure that shall help you in longer run of life.

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