Holidays are near as the year ends and people will be traveling, not necessarily for business but mostly for pleasure. People who cannot afford it but want to take a time off from a busy life will find it worthwhile to take out a loan to fund their expenses but there are still some things to consider to avoid spiraling into debt.
Travel loans in the Philippines are available for those who can’t afford to fork out or lack the necessary cash. This type of loan can be used for both domestic and international travels. As for those who are not traveling the country merely for pleasure, a travel assistance loan in the Philippines is available. This type of loan is aimed at providing cash for immigrants, tourists, and even students, particularly those who are still finding their way around and need cash to process whatever documents they need.
What is a Personal Loan for Travel?
The beauty of this kind of loan is the low-interest rate. Repayment terms are also flexible, depending on the lender. But even if this was the case, remember that there isn’t necessarily going to be a return of investment here, unlike business-related travels. Again, the money taken from this loan will be spent on funding travel expenses like places to stay, transportation, food, and even medical if you happen to run into an emergency and don’t have medical insurance. In the Philippines, many Filipinos don’t have medical insurance.
These are just a few factors to consider when borrowing any type of loan. Avoid borrowing more than you need. If you can afford to save up for a holiday vacation, do everything in your power to do so.
Should you get a travel loan in the Philippines? If you are sure you can pay it back then go ahead. If you are just traveling for pleasure you might meet people who could introduce you to new business opportunities that you would not otherwise get had you stayed at home. Such scenarios are rare but if they do happen you can even repay your loan ten times over.
Can I Take a Travel Loan at Robocash?
Robocash does not issue a loan for travel to borrowers if they intend to travel overseas but funds enough for traveling locally are available.
This is a great time for Filipinos to travel around their home country. Thus, you will support tourism and hotel business in the Philippines, affected by the pandemic. Robocash will be happy to give you money for a trip inside the country.
Robocash offers two types of loans: for beginners and repeat borrowers, and each type has its own terms, so below is a brief summary.
Borrowers who are taking a loan for the first time:
- The amount is PHP 1,000.00-10,000.00;
- The term is 7-15 days;
- Interest rate is 0% per day for the first loan, that is, it is an interest-free loan.
- The amount is PHP 1,000.00-25,000.00;
- The term is 7-30 days;
- Interest rate is 1.5% per day for all subsequent loans.
Loans of up to PHP 25,000 are available only for those who have paid their first short-term loan.Apply now
Robocash Loan Requirements
Unlike a bank, Robocash is not as strict when it comes to requirements and most of these requirements are items you mostly already have, anyway.
Valid ID issued by the government such as a Government Service Insurance System (GSIS) or Social Security System (SSS ID), Tax Identification Number (TIN), Voter’s ID, Postal ID, etc.
- You will also need documents provided by your company if you are employed. These are items like payslips, company ID.
- If you are self-employed, you will need to provide documents issued by the Department of Trade and Industry (DTI), basically your DTI certificate.
- You must be a Filipino citizen not younger than 21 and not older than 70 years old.
- Once you have all the necessary documents and are within the age range, simply create an online account at the Robocash website.
These requirements are likely to be asked when you are borrowing for the first time and for those who are borrowing for the second time or up, these are not going to be asked unless Robocash just needs further validation.
Top Holiday Destinations in the Philippines
So, you read the terms of the Robocash loan travel loan online within the Philippines. But where to go on vacation? We will tell you about the most popular holiday destinations in your home country.
If your vacation falls in the autumn and the temperature around the Philippines is starting to drop, why don’t you start with some cold place? Baguio City is known as the Summer Capital for this reason. Visitors flock the city to experience the cold temperatures, especially before dawn when the city is at its coldest. In a tropical country, this is probably one of the coldest places you can go to.
Some Places to Visit:
- Burnham Park;
- Wright Park;
- Mines View Park;
- Ben Cab Museum;
- Maryknoll Ecological Sanctuary.
For a single person traveling, he or she can easily spend from PHP 15,000.00 to PHP 25,000.00, because the city has many parks, museums, malls, and souvenirs to buy.
La Trinidad, Benguet
This municipality is just outside Baguio and is the location for the famous Strawberry Farm where the La Trinidad Strawberry Festival is also held annually.
La Trinidad is a host to a variety of places to visit:
- Valley of Colors;
- Mount Kalugong Eco Park;
- Bahong Rose Gardens;
- Benguet Province Museum;
- Strawberry Farm.
With a conservative estimate, you can easily reach PHP 15,000.00 to PHP 25,000.00, most of which will be spent on food and souvenirs.
Vigan, Ilocos Sur
If going to cold places isn’t your cup of tea, then perhaps somewhere warmer is where you can spend time. The city of Vigan in Ilocos Sur is a great place to start. Get to enjoy historical locations from centuries past.
Places to Visit in Vigan
- Calle Crisologo;
- Vigan Cathedral;
- Bantay Church Bell Tower;
- Nation Museum of the Philippines (Ilocos Complex);
- Various mansions and museums.
Traveling to some of these areas can cost PHP 10,000.00 to PHP 25,000.00. Robocash can easily provide you with these amounts to cover your trip. These estimates are based on a few conditions: vacation length is only up to 2-3 days, you don’t have your vehicle and will rely on local transportation to get around, you won’t be buying too many souvenirs from these places, you are traveling with a group of up to three people maximum. So it is important to plan the budget. You could increase it if you and your companions all took a loan together.Apply now
Where Can I Get Money for Travel?
1. Accumulate within a year. To avoid taking up a travel loan in the Philippines, this is probably the most painstaking way but it’s worth it as the longer you accumulate the more money you can spend on that holiday vacation. And there’s the bonus of having no obligation to pay back anything after.
2. Borrow from friends. On the plus side, friends are unlikely to add interest to the money you owed but you’ll have to pay them later in cash or favors. Depending on how many friends you have, you can either borrow enough money for that holiday or not. You will also have to justify to your friends why they should lend you some money so you’ll either lie or tell them it’s for a vacation and hope for the best.
3. Take a travel loan. Loans are the easiest means and can be obtained in a variety of ways. Depending on where you live there are even government programs available ready to lend money. Unlike borrowing from friends and family, this is a more formal transaction so you better be serious about paying it back later. An interest rate is also guaranteed and you will have to pay back in cash; unfortunately, you can’t pay back by doing favors. Depending on the terms of your loan, you might also have to provide collateral which is something you can lose.
4. Take a travel credit card.This is a handy way of paying for things during your travels, it’s pretty much a credit card with extra perks like discounts and rebates, something that a plain loan can’t give on the fly. This also saves you the trouble of having to convert between currencies. The best part is that you don’t have to worry about running short of cash once you’re already out there, provided that you did your diligence to do some research on how much money you are going to need and took the appropriate card that can fund your travels.
Conditions of the Travel Loans in the Philippines
If you dream of traveling abroad, contact the banks that offer special travel loans for large amounts. The terms and conditions for getting a loan in the Philippines depends on the financial institution. The most common conditions are:
The cleaner your credit history, the higher the chance of getting a loan.
- Interest rates are fixed.
- The length of the loan is up to a year.
- The amount can reach up to PHP 300,000.00.
- You should be of legal age and be employed or self-employed.
- You should have all the necessary documents and IDs to prove your identity.
We all want to enjoy our holiday vacations whether it’s domestic and international. After all the fun, now comes the obligation of paying the loan back. To avoid racking up too much debt, make sure to spend only on what you need to. Do the necessary research and ask around about what other people have to say about a tourist destination to figure out if it’s worth having a trip there or not. Asking others about their experience is probably the best way to gauge how much money you could end up spending.Apply now
RyanRobocash is one of a kind. They are true to their commitment that once u pass d review they will credit the loaned amount right away! In less than 5 mins we got the money transfered to my gf bank account. Amazing! Two thumbs up ROBOCASH!!!
EricaI tried Robocash out of curiosity. To cut to the chase, Robocash is ideal for "petsa de peligro" days where it's almost payday but also your bills is on due date because they have short payment terms (I was given 7 days term for my first loan). You can get approved as fast as 30mins and the loan will reflect immediately.
SamI loved RoboCash not just the app but for the whole experienced that I had in applying for a loan. Hassle free and loan disbursement is as quick counting 1-2-3.