Holiday loans: guarantees and contractual features

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With the Christmas holidays and with the arrival of the new year 2019 let’s take a break and a few relaxing days: a beach holiday, an outdoor weekend in some ski resort, a stay in a farmhouse with a SPA or a cruise to discover the countries exotic and tropical.

Relax yes, but you don’t always have the right liquidity to organize a vacation with the family: what to do? The solution is to request a personal loan to finance a trip or stay in some wonderful location.

Personal loan to finance a holiday: what is it and how does it work?

Personal loan

The 2019 holiday loan is a loan that covers up to 100% of the cost of the stay , whether you decide to book a hotel, rent a vacation home, fly or book a luxury cabin on a cruise ship.

The amount that is usually paid does not exceed 5,000 euros , but in certain cases, the possibility of obtaining a financial capital of 10,000 euros can be assessed.

Given that the amounts required for holiday loans are usually small, the preliminary investigation and loan provision phase requires the completion of the procedure to request a “traditional” personal loan.

Basically, a loan to finance a vacation works like any other personal loan

Basically, a loan to finance a vacation works like any other personal loan

The availability of the requested sum of money to the financial allows the instant subject to organize the trip independently and independently, without having to justify anything.

Once you have obtained the financial capital, you can decide to buy the trip in any travel agency or directly online, depending on your personal needs and preferences.

Contract Holiday Loan 2019: contractual characteristics

personal loan

The 2019 holiday loan contract must contain the following contractual elements :

  • the required financial capital,
  • the amortization plan with indication of the number, amounts and maturity of the individual installments;
  • the TAN;
  • the annual percentage rate of charge (APR);
  • the detail of the analytical conditions according to which the APR can possibly be modified;
  • any guarantees required;
  • any insurance coverage required and not included in the APR calculation.

The duration of the holiday loan varies from 12 to 60 months, and provides for repayment at a fixed rate and constant installments.

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