Purpose of Saraswat Bank Pravasi-Travel Personal Loan
This particular travel personal loan from Saraswat Bank, is meant to help travellers with financial assistance for inland and overseas travel. There are travel insurance that aid us during emergencies might there may be individual requirements during traveling which are definitely not covered in the insurance, for example the flight tickets itself which can burn a hole in an individual’s pocket. However, this personal loan from Saraswat Bank is exactly intended to help not burn a whole or at least do it in instalments.
Eligibility criteria for a Saraswat Bank Pravasi-Travel Personal Loan
The individual should be over 18 years of age and an Indian citizen. Also the income bracket required for this loan is:
- Salaried: 12 to 15 times of Net take home salary of the applicant.
- Self-employed: 2 times of Net cash accruals of the applicant
Features and benefits of Saraswat Bank Pravasi-Travel Personal Loan
The following are the basic features of this personal loan for travellers in Saraswat Bank:
- The loan amount can go up to a maximum of Rs 2 lakhs.
- Rate of interest is fixed at 16%. However, there is a concession of 0.25% for teaching professionals only if they are associated with a school, university or institution with the exclusion of coaching centres and private tuitions.
- Security for this loan for travellers includes
- One / more Guarantors depending on merits of the proposal
- Direct recovery through Salary / Salary Account.
- Shareholding for the personal loan is possible through nominal membership.
- Optional Life Insurance cover is available at concessional rates.
Documents required for Saraswat Bank Pravasi-Travel Personal Loan
- You need a duly filled prescribed application form
- Photo Identity of the applicant
- Residence Proof of the Applicant &
- Salaried Individuals: Latest salary slips for the last three months.
- Businessman/Professional/self-employed Individuals: Last two years of profit & loss account and balance sheet.
