To meet travel and lodging expenses of individuals for travel in india and abroad either through personally arranged tours or through conducted tours.

Purpose:

To meet travel and lodging expenses of individuals for travel in India and/or abroad by air, water, road – either through personally arranged trips or through conducted trips/tours.

Nature of loan:

Non priority clean loan.

Eligibility:

Annual gross salary/gross income of the applicant should not be less than Rs.1.50 lakhs.
Net take home salary after taking into account the proposed EMI towards loan should not be less than 40% of gross salary.
May be relaxed up to 25% by the next higher authority.
For Non-salaried individuals – Branch to ensure that the applicant has adequate repaying capacity.
Salary should be credited at the Branch or mandate to be registered with the employees.
In absence of credit of salary/registration of mandate, post-dated cheques shall be deposited by the borrower.

Quantum:

Need based finance subject to 6 months Gross Salary/Gross Income with a minimum of Rs.25,000/-
6 Months gross salary/gross annual income OR Rs.1.00 lakhs, whichever is less.
10 months Gross Salary/Gross Annual Income OR Maximum of Rs.2.00 lakhs.
20 months Gross Salary/Gross Annual Income OR Maximum of Rs.3.00 lakhs.

Margin:

25 %.

Security:

Suitable Co-obligation should be obtained (the higher officers may selectively waive this condition).

Disbursement:

Trips arranged through conducted tours, disbursement should be made directly to the travel agents/tour operators.
Personally arranged trips, loan amount shall be credited to the party’s operative account against his/her request/declaration.

Repayment:

36 Months.

Rate of Interest:

13.00% per annum or As per the rates prescribed/notified by the Bank from time to time .

Processing Charges:

1.00% of the loan amount.

Documentation:

Application, Income Proof for repyament.
Pronote/Pronote covering letter.
Photograph of the borrower/co-obligant.
Proof of residential address.
Proof of income evidenced by salary certificate/IT returns.
Proof of travel/Passport/Visa.