3 Accessible Travel Loan Companies in Nigeria You Should Know

What Is A Travel Loan?

A travel loan is a loan given to travellers who need funds to be able to travel out of the country whether on vacation or relocation or even for education. You basically get funds to be able to travel out of the country. Most of these loans are usually classified under personal loans and can have high-interest rates but they give you the chance to travel anywhere on credit and be able to pay back bit by bit over time. Different companies that offer loan services require different qualifications for you to be able for you to qualify for a loan which is why it is quite imperative for you to have in-depth knowledge of what you’re getting into.

Travelling anywhere or even relocating is not exactly the cheapest endeavour. Even travelling to another country on the same continent or even to another state in the same country can be a steep undertaking and sometimes you just need a little help, you know?

Travel loan companies make sure that your trip is stress-free with easy access to cash, no inconvenience, and no delays. They provide access to funds that make travelling a comfortable and easy experience.

Whatever your reason for wanting to travel, whether wanting to go on a vacation, whether relocation or for further education, these companies are ready to provide you loans that will cover all the costs and expenses associated with travelling and all of this includes tours, flight tickets, accommodation, feeding expenses and more. Some of these companies also provide mortgages if you want to travel out of the country for educational purposes may be for your Masters or your PhD.

Why travel loan?

Let’s be honest, travelling or relocating is not exactly the life experience to go after and that is where travel loans come in.

These companies provide loans for individuals assisting them financially. This brings ease and comfort to travellers and allows them to focus on other important things during their journey.

Companies that give travel loans in Nigeria.

Companies listed below provide loans for vacations, visa processes, affordable student loans and also relocation.

1. Study Money

Study Money promises to provide you with affordable student loans and money to aid visa processing. Study money says they are committed to helping you achieve a prosperous future and are on a mission to help students in Nigeria cover up to 100% of school-certified costs to get further education outside the country. They are offering a flexible student loan to cover tuition and living costs with zero fees, no hidden application or origination fees, competitive interest rates, quick and easy loan application, flexible repayment plan with no repayment penalty and finally no requirement for a cosigner or credit history.

For further questions, there is a section on the website where you are asked to fill in your contact details and further questions you might have.

Process For a Loan Application on Study Money

1. You fill out basic contact and financial information and this takes less than 30 minutes

2. You upload necessary documents to the dashboard and after finalizing the risk assessment, you join the waitlist while they confirm available funding.

3. Once the loan is approved, you receive a final approval once your documents have been validated and then they’ll match your application with available funds.

4. Once enrolment status is certified, funds are then disbursed and you are notified.

Easy Loans.

Easy Loans Nigeria boasts a 5% interest rate for your travel loans and promises that your trip is going to be hassle-free, providing you with instant access to cash with no delays, and no inconvenience. Easy Loans pledges to make it easy for you to travel and take that vacation without having to worry about pesky details like funds.

On the website, you are to check your eligibility for loans and other details such as the amount you’re requiring, your net income per month, your existing loan commitment (if you have any) loan tenure, (which is how long you’re going to take to pay back the loan) and the 5% interest rate. It then lets you know your eligibility status..

You then proceed to fill out an application form with your details which include, the loan amount, duration, the purpose of the loan, and your work status, which includes employment status, company status, monthly income. You also include your address, city, state, country and also your personal details all of which include your first name, surname, gender, marital status, date of birth, email address, phone number, country and finally your bank verification number(BVN) and wait for feedback.

Travel Loan

Travel Loan Nigeria aids people focused on travelling overseas with low bank statements to be able to travel and also make travel a more exciting and amazing experience.

On the website, you are to download a 3-page PDF application form to be filled with details such as your name, marital status, country of birth, date of birth, gender, mother’s maiden name, tax identification number, nationality, state of origin, your local government of origin.

Details like your house number, address, street name, city and town, phone number, and email. You’re also asked to fill in your employment details which include your employment status, business or employers name, business or employer address, business or occupation, and your education or qualification, details of your next of kin. The second page with the terms and conditions which carry the depositor’s signature, the loan details, the amount required, how long you want the loan for, your monthly income, any outstanding loan, guarantor’s details and bank details, finally the third page which is a signature page.

Would you be trying out for a travel loan? Let us know.