So, you have made all the grand plans for a trip to Maldives with your love. You have listed out the beaches and other spectacular places to explore in Maldives. Now you are looking at the wallet, right! After all, wishes of any magnitude need a firm support of the finance to get fulfilled. You do have the savings, but want it to accumulate for the future to deal with the uncertainties of the future. But at the same time, the Maldivian expedition is tempting you every bit. In my view, Axis Bank Personal Loan would help you greatly by letting you experience the beauty of Maldives without digging a hole in your pocket.
Axis Bank, the third largest private sector with approximately 3,000 branches and 13,000 ATMs, is a sign of enormous brand recognition. You can visit the branches of the bank to apply for a personal loan. But the convenient option would be Axis Bank Personal Loan Apply Online. So let’s explore this to explore Maldives in the most romantic way possible.
How Much the Maldivian Expedition Cost You?
Let’s go sequentially and find the cost of your trip down to Maldives. The first thing you should look at is the ticket prices, which vary according to the season and the gap between the date of ticket booking and the date of travel. Yes, more gap could help you avail the tickets at a lower price. Suppose if you are living in the capital city of New Delhi and looking to book a ticket for you and your girlfriend a month later, the prices would be around ₹15,000-30,000 per individual. So, for two of you, the cost would be around ₹30,000-60,000. Adding the same while you return from Maldives, the cost goes up to ₹60,000-1,20,000. Let’s suppose the cost comes out to be 1,00,000.
For a two-day stay in the hotel, the price would range within ₹5,000-15,000. Add another ₹40,000-50,000 in sightseeing and other fun activities, the total cost of the trip would be around ₹160,000. There can be a bit of deviation in the amount quoted. By in large, a personal loan of ₹2,00,000 will do.
Brief on Axis Bank Personal Loan
The maximum amount of personal loan you can expect to receive at Axis Bank is ₹ 15,00,000 for a tenure of upto 5 years. And your requirement is only ₹2,00,000. The interest rate charged by the bank ranges from 15.50%-24% per annum. But what holds key to your Maldivian expedition is whether you are the candidate for ₹2 lakh loan at Axis Bank or not. Can’t fathom what I meant to say? Actually, the amount of loan disbursal depends on your income and repayment capability. It would be better to explain through an example.
Example-Your monthly earning is ₹40,000 and the saving happens to be ₹15,000. A portion of the saving can be used for the repayment of the loan EMIs, a combination of both interest and principal towards a loan. What Axis Bank will do first is to compute the per lakh EMI based on the prevailing interest rates and the maximum tenure. The per lakh EMI would be ₹2,405-2,877.
Loan Eligibility-₹1,00,000 x savings/per lakh EMI
-₹1,00,000 x 15,000/2,405=₹6.24 lakh (Approx.)
-₹1,00,000 x 15,000/2,877=₹5.21 lakh (Approx.)
So, you see a personal loan of ₹5.21 lakh-₹6.24 lakh is right there at Axis Bank for you to avail. Seeing your requirement, the bank is all set to make you its customer.
Axis Bank Personal Loan EMI Calculator
Let’s calculate the monthly installment on your ₹2 lakh loan at Axis Bank with the help of an personal loan calculator, which calculates the same using the loan amount, interest rate and the tenure of the loan. Using all three, the EMI comes out to be ₹4,811-5,754, which if deducted from the saving you make each month, comes around be ₹10K-11K.
Axis Bank Personal Loan Apply Online
As stated earlier that applying online is a convenient option you have. How to do it? It’s the question you would ask me, right! The answer is simple. Just visit the official website of the bank, click Apply Now, enter your personal and professional details, and submit your personal loan application.
So, Axis Bank Personal Loan Apply Online is proving out to be a very good option for your Maldivian extravaganza. Do apply and explore the romantic locales with your love there. Yes, you can find some attractive holiday packages to Maldives at lower cost from the travel websites and the tour and package companies. But they can be valid for a limited period. If they come, then do avail them. But if it is not the case, the above loan is a good option.