Fly High with Saraswat Bank Travel Loan
Last Updated : March 17, 2017, 12:51 p.m.
Known for its dedicated and valuable services, Saraswat Bank is a name you can trust. Since its inception in 1918, the bank is delivering the best services to one and all. Now when it comes to best services, this bank leaves no stone unturned for that. Yes, if you are the one who is looking for a travel loan, this lender is always is here to help you. No matter how much loan amount you need and for what time, Saraswat Bank never leaves you disappointed.
All your travelling expenses can easily be fulfilled by the bank as it covers all your needs. Whether you want to attend your friend's wedding in Paris, or want to go to Thailand for a family vacation, Saraswat Bank brings to you the Pravasi Travel Loan to give you the assistance for all your travel expenses for inland and overseas. To know more about the product, kindly go through this article below.
Saraswat Bank Travel Loan Details:
| Particulars | Details |
|---|---|
| Interest Rates | 16% |
| Loan Amount | 2 Lakh |
| Repayment | 24 Months |
| Processing Fees | 1% |
Eligibility Criteria for Saraswat Bank Travel Loan:
To avail the travel loan in Saraswat Bank, you need to fit into the below eligibility criteria.
- To avail the loan, 18 years is the minimum age required by the applicant.
- Salaried :12-15 times of Net take home salary
- Businessmen: 2 times of Net cash accruals
Next, thing on which you need to pay attention is the documentation required to get the travel loan from this bank.
Documents Required for Saraswat Bank Travel Loan :
| Salaried | Self-Employed |
|---|---|
| Photograph | Photograph |
| Duly filled application form | Duly filled application form |
| Identity Proof | Identity Proof |
| Residence proof of the Borrower & Guarantor | Residence proof of the Borrower & Guarantor |
| Latest salary slips for last three months | Last two years profit & loss account and balance sheet |
Features and Benefits of Saraswat Bank Travel Loan:
- Speedy Approvals
- Quickest Disbursals
- Attractive Interest Rate
- Easy Process
- Minimum Documentation
- Affordable Financing
- Higher Loan Amounts
Saraswat Bank Travel Loan EMI Calculator
If you are availing a travel loan from the bank, you also need to keep in mind the EMIs that you are going to pay each month in order to repay your loan. So, it is very important to know the exact amount of your EMIs, which can only be possible with the help of an EMI Calculator. Yes, this effective tool allows you to know your EMIs instantly, the moment you enter few details like loan amount, tenure and interest rate.
Once these fields are inserted, this device will fetch the results for you and helps you in knowing your loan EMIs. However, if you are finding it difficult to understand, kindly refer the example below.
Ajaj Mehra, a 28 year old individual, working in a leading organization is looking for a travel loan of Rs.2,00,000. The bank agreed to give him a loan at an interest rate of 16%p.a. for a tenure of 2 years. Now, he is worried about the EMIs of the same, as he can't calculate them. Now, an EMI Calculator comes into picture and do the calculations for him. So, let's see how much EMIs he is going to pay at different loan tenures.
| Loan Amount (in Rs.) | Interest Rate (in p.a.) | Tenure (in Years) | EMI (in Rs.) | Interest (in Rs.) | Total Amount (in Rs.) |
|---|---|---|---|---|---|
| 200000 | 0.16 | 1 | 45365 | 44385 | 544385 |
| 200000 | 0.16 | 2 | 24482 | 87557 | 587557 |
Ammortization Table
| Year | Principal (in Rs.) | Interest (in Rs.) | Balance Amount (in Rs.) |
|---|---|---|---|
| 1 | 230180 | 63604 | 269820 |
| 2 | 270142 | 23952 | 0 |
