Travel Loan115877 views
Be it going on a family vacation, enjoying honeymoon in Bahamas or going on a solo trip in Himalayas, with Indusind Bank travel loan, you can live life to the fullest. Yes, this new generation bank with its unlimited range of products such as travel loans caters all your needs in best possible manner. When it comes to travel loans, the bank offers you the same at flexible tenures, lowest interest rates and minimal paperwork required.
You can instantly avail the loan the moment you fit into the eligibility criteria of the bank. It comes to you with easy process and quick disbursal, hence is preferred by many people. So, if you are also looking to avail a loan and that too without any hassle, Indusind Bank Travel Loan is all you need. For more information on the same, kindly read this article below.
Indusind Bank Travel Loan Details:
|Interest Rates||Up to 23%|
|Loan Amount||Rs. 50,000-Rs.15 Lakh|
|Repayment||12 Months-60 Months|
|Processing Fee||Up to 2.50% of the loan amount|
Eligibility Criteria for Indusind Bank Travel Loan
To avail the travel loan in Indusind Bank, you need to fit into the below eligibility criteria.
|Salaried||Self-employed Professional||Self- employed Individual|
|Age:21 years-60 years||Age:25 years-65 years||Age:25 years-65 years|
|Monthly income:Rs.25000||Annual net income:Rs.4.8 lakh||Annual net income:Rs.4.8 lakh|
|Current Job experience: 1 year||Nil||Nil|
|Total Employment Experience:2 years||Nil||Nil|
|Current Residence Stay: 1 year||Post Qualification Experience:4 years||Post Qualification Experience:5 years|
Documents Required for Indusind Bank Travel Loan
Next, thing on which you need to pay attention is the documentation required to get the travel loan in this bank.
|Salaried||Self-Employed Professional||Self- employed Individual|
|Proof of identity: passport / driving license / voters id / pan card / card issued by UIDAI containing the details of name, photograph, address and aadhaar numbe||Proof of identity: Passport / driving license / voters ID / PAN card /card issued by UIDAI containing the details of name, photograph, address and Aadhaar number||Proof of identity: passport / driving license / voters id / pan card / card issued by UIDAI containing the details of name, photograph, address and aadhaar number|
|Proof of residence: leave and license agreement / ration card / utility bill (not more than 3 months old)||Proof of residence: Leave and License Agreement / ration card / utility bill (not more than 3 months old) / trade license / establishment / sales tax certificate / valid Passport - provided the passport address is present address mentioned in application form||Proof of residence: leave and license agreement / ration card / utility bill (not more than 3 months old) / trade license / establishment / sales tax certificate/Valid passport – provided the passport address is present address mentioned in application form|
|Valid passport – provided the passport address is present address mentioned in application form||Business (Current Account) Bank Statements (latest 6 months bank statement/passbook||Business (current account) bank statements (latest 6 months bank statement / passbook)|
|Proof of income: latest 3 months salary slip / salary certificate and latest Form 16||Proof of qualification: Highest Professional Degree||Latest 2 years ITR along with computation of income, b/s, p&l a/c with all schedules certified by a CA|
|Bank statements: latest 3 months bank statement (where salary is credited)||Latest 2 years ITR along with computation of income, B/S, P&L a/c with all schedules certified by a CA||Business continuity proof: trade license / establishment / sales tax certificate)|
|Profession continuity proof||Additional mandatory documents: sole proprietorship declaration / certified copy of partnership deed / certified copy of moa, aoa & board resolution. In case of income derived from a partnership firm, latest 2 years partnership firm’s B/S, p&l a/c with all schedules certified by a CA|
Features and Benefits of Indusind Bank Travel Loan
- Minimal Documentation
- Fast Process
- Speedy Disbursal
- Doorstep Service
- Lowest Interest Rates
- No collaterals Required
- Flexible Repayment Options
Indusind Bank Travel Loan EMI Calculator
Before you avail a travel loan, it is highly important for you to know the exact amount of EMI that you need to pay each month while repaying the loan. However, the best thing is that with the help of an EMI Calculator, it is absolutely easy and quick for you to know your EMIs. The calculator will do the calculations for you, the moment you feed few details in it such as tenure, interest rate and your loan amount.
So, without going any further, let’s understand the EMI calculation with the help of an example below.
Ravi Jain wants to avail a travel loan of Rs.12,00,000 as he is planning to visit Singapore for a family vacation. So, he availed the same loan at an interest rate of 23% p.a. for 5 years from Indusind Bank. Now, let’s see the calculations of the EMIs that he is going to pay for different tenures.
|Loan Amount (in Rs.)||Interest Rate|
|Tenure (in Years)||EMI (in Rs.)||Interest (in Rs.)||Total Amount Payable (in Rs.)|
|Year||Principal (in Rs.)||Interest (in Rs.)||Balance Amount (in Rs.)|