<ul data-eligibleForWebStory="true"><li>Travel Now, Pay Later (TNPL) loans are short-term loans offered by tourism companies in partnership with banks and fintech companies to fund vacations.</li><li>TNPL allows travellers to book flights, hotels, or holiday packages and pay within a pre-defined period, functioning as a buy now, pay later model.</li><li>Advantages of TNPL loans include affordability through no-cost EMI options, accessibility with minimal paperwork, and a wide range of travel options available across price ranges.</li><li>However, TNPL loans may come with hidden costs such as high interest rates and processing fees, increasing the overall trip cost and debt trap risks if repayments are missed.</li><li>Easy access to credit through TNPL loans can lead to overspending, penalties for missed EMIs, and credit dependency, potentially causing financial strain in the long run.</li><li>It is crucial to carefully review the terms and conditions of TNPL loans before opting for them to avoid financial burdens and consider other funding options like mutual funds and fixed deposits.</li></ul>

Travel Now, Pay Later: How It Works, Check Pros And Cons

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