Travel Loan

Credit for the holidays (it is also called the loan on the trip, the tour credit, credit to the sea, etc.) - this is a relatively new type of short-term lending, bank credit product that has a number of features.

To pay a ticket in the recent past, customers, borrowers are decorated by non-target normal short-term loans, loans for urgent needs, or a plastic credit card to withdraw money in cash and handed them to a travel agency.

However, with the development of service credit and the emergence of directed credit to rest, to borrow from the bank for the purchase of tickets has become much more profitable. Of course, not every credit institution is taken to issue such a contract, according to statistics, less than 5% of trips today are bought on credit, but the number of banks, working with lending to rest, is growing every day, and hence the demand for this type of loans available.

Features of the credit for vacation as follows:

A. Term of the application and issuance of money is minimal and is reduced from 1 hour to 1-7 days, which is understandable - after all we can talk about the "last minute". Some banks are positioning this type of loans as rapid lending. Moreover, the decision on extradition is valid for 1-3 months.

Two. The term loan is usually 10-18 months, although some banks offer loans for the rest in installments from 3 months to 4 years. Much depends on the amount of down payment (usually 15-30% of the cost) that the customer has paid for the ticket, although credit for 100% of th cost of recreation is also possible. Another matter the presence of an agreement (accreditation) between tour operator and a specific lending institution.

Three. Interest rates are typically 13% -16%, although there are suggestions, and from 11% -12% and 18-26% loan-mi. Lending scheme is commonly used annuity (equal payments to the loan amount and interest thereon on a monthly basis). Getting a loan may cost in the provision of income documents (certificate form 2-PIT, information from the tax authorities, etc.) Interest rates depend on the currency, the ruble cost loans more expensive. Credit history of the borrower, provided that he agrees to her discovery, and may in some cases be the cause of reducing or increasing rates. Rates depend on the 'authority' tour operator with which the Bank works than firm-tour operators large and well known, the lower the interest rates on loans.

4. To obtain a loan of more than 50 100tys. rub. required to obtain a guarantee or surety, the smaller the amount of loans are unsecured.

Five. By the standard package of documents for a loan, confirming the identity and solvency of the borrower shall make a certificate account (the contract for booking, etc.) from travel agency.

6. Sure, making out a loan for credit, a contract for voluntary life insurance and disability, and some banks dictate to the borrower, in what the insurance company must issue the insurance policy and surety insurance company serves as collateral. The amount of insurance payments should not be less than the amount of loan.

7. Most often, the money transferred by wire transfer, eliminating the need for client cash, delivery and transfer of the tour operator. Contract loans may also be made directly to the travel agency office, if it works directly with any bank lender.

Eight. Most of the banks issuing credit for recreation, provide a grace period (grace-period) from 1 to 3 months, when the loan interest is not charged at all.

9. Major lenders offer in addition to the loan for rest Credit plastic card that can be used for additional spending on travel, taking cash, both in Russia and abroad.

10. The disadvantage of the credit for the overpayment is a holiday for the permit for at least the interest rate and the maximum (with hidden fees, insurance, etc.) by 40-50%.

When planning to take credit for vacation, you must specify the availability of such items in the contract as a one-time fee for opening an account, the fee for the actual use of credit, penalty for late payment of readjustment and the early repayment of debt, etc.

In some cases, it is appropriate to consult a mortgage broker, versed in the intricacies of lending rest. It makes more sense to find lending options to rest in various banks, and not just accept the conditions proposed in the travel agency where you applied (as these terms are very much different from the proposals of other creditors).

Only careful deliberation and having considered their costs on the loan, you can make a decision on an application for credit on holiday in a particular bank, then the rest will only bring positive emotions and good memories ...