Travel Loan, Loan for tour

TRAVEL PLUS

Do you want funds readily available to you whenever you desire to go on a vacation that you plan with your family or friends? SBI's Easy Travel Loan is the answer to your questions.Enjoy the SBI Advantage:
· Low interest rate. Further, SBI charge interest on a daily reducing balance!!
· Low processing charges; only 1% of loan amount.
· Complete transparency; No hidden costs or administrative charges.
· No security required ……which means minimal documentation…something that you had always wanted.
· No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
· Long repayment period of up to 48 months.

The SchemePurposeTo meet any kind of Travel expense such as cost of ticket, hotel stay, visa, airport tax, purchase of Basic Travel Quota, etc.
Eligibility
You are eligible if you are:
1. A State/Central Govt. Employee, employee of public sector undertaking/reputed profit making public limited company, reputed institutions, MNC with a minimum service experience of 2 years.
2. A self employed professional, with a minimum 2 years standing. You should be 60 years of age or less.
3. A Pensioner of PSU/Govt. (Central/State)/Public Sector Bank who has taken premature voluntary retirement and is 60 years of age or less
4. Agent of insurance/KVP/Mutual funds etc. with 3-5 years standing who is a tax assesse and whose gross annual income exceeds Rs. 2 lacs.
5. A trader, who has cash flows to repay the loans and can provide suitable third party guarantee, you should restrict your banking requirements to the branch where the loan is proposed to be taken.
Salient Features
Loan Amount Your personal loan limit would be determined by your income and repayment capacity.
Minimum: Rs.24,000/-Maximum : 12 times Net Monthly Income for salaried individuals and pensioners and 1 year's net annual income in case of self employed professionals with the under noted ceilings.
For Salaried individuals and self employed professionals: Rs.2.5 lacs (Rs.5 lacs in New Delhi, Chennai, Bangalore, Hyderabad, Mumbai and Kolkata and can be further increased to Rs.10 lacs if the self-employed professional maintains a satisfactorily conducted account with our branch or the salary of individual is regularly credited to their account with our Bank)
For pensioners: Rs.1.5 lacs
For members of business community: Rs.3.0 lac or 1 year’s net annual profit during the preceding financial year, whichever is lower.
Documents Required
For existing bank customers
1. Copy of Passport (for overseas travellers)
2. Copies of Rail-tickets/Bus tickets/Air tickets and visas(for overseas travellers)
3. Copy of consolidated invoice containing ticket charges, insurance charges, other sundry charges, etc.
4. Passport size photograph
5. For salaried individuals Latest salary slip and Form 16, for Self-employed individuals and Professionals IT returns for the last two financial years.
6. Proof of Professional Qualification (for self employed professionals)
7. Copy of highest Professional degree held

For New Customer:
Important documents to be furnished while opening a Personal Loan Account:
· Proof of Identity
· Copy of Passport (for overseas travellers)
· Copies of Rail-tickets/Bus tickets/Air tickets and visas(for overseas travellers)
· Copy of consolidated invoice containing ticket charges, insurance charges, other sundry charges, etc.
· Passport size photograph
· For salaried individuals Latest salary slip and Form 16 for Self-employed individuals and Professionals IT returns for the last two financial years.
· Proof of Residential address, this can include home and establishment certificate/Lease deed/Telephone Bill.
· Proof of Professional Qualification (for self employed professionals)
· Copy of highest Professional degree heldProof of official address (for members of business community),this can include shop and establishment certificate/Lease deed/Telephone Bill.
Margin:
We do not insist on any margin amount.
Interest Rates: 3.25% above SBAR Floating i.e.17.00% p.a.
Repayment: The loan is repayable in a maximum of 48 EMI. You are allowed to pay more than the EMI if you wish to, without attracting any prepayment penalty.
Security: No security is needed except in the case of members of business community where suitable third party guarantee is required.