Pravasi- Travel Loan

Purpose

• A loan which provides financial assistance for inland and overseas travel.

Loan Amount

• Maximum  Rs  2 Lakh

Basis of Advance

• Salaried :12-15 times of Net take home salary
• Businessmen: 2 times of Net cash accruals

Repayment

• Maximum 24 months

Rate of Interest

• Fixed @15.00% p.a

Concession of 0.25% p.a. for teachers/ professors (excluding coaching and Pvt tuitions)

Security

• One / more Guarantors depending on merits of the proposal
• Direct recovery through Salary / Salary Account.

Processing Fees

• 1% of loan amount

Shareholding

• Nominal membership

Documents Required

• Duly filled application form
• Photograph & Identity, residence proof of the Borrower & Guarantor
• Salaried person: latest salary slips for last three months or ITR or Form 16.
  
• Businessman/Professional/self employed :last two years profit & loss account and balance sheet

Insurance

• Optional Life Insurance cover at concessional rates