Travel Loan

Kotak Mahindra Bank Travel Loan: Now Travelling is fun

Kotak Mahindra Bank Travel Loan: Now Travelling is fun

Last Updated : Jan. 31, 2018, 11:49 a.m.

When it comes to Kotak Mahindra Bank, there is no doubt on the fact that it is one of the biggest players in financial market. Yes, by offering a wide range of services to all the esteemed customers in various sectors, this bank is fulfilling the varied needs of all. Yes, when it comes to fulfilling the needs, this bank with its best deals for travel loan makes your experience all the more exciting. Well, no matter which holiday destination you want to go,whether its inland or foreign, this bank will serve your purpose at it best. So, now you can easily visit your favorite holiday destination without bothering about your travel expenses. Well, to get more information on this, read this article further.

Kotak Mahindra Bank Travel Loan Details

Particulars Details
Interest Rates 11.5% -24%
Loan Amount Rs. 50,000-Rs.15 Lakh
Repayment 12 months-60 months
Processing Fees Upto 2%-3%
Prepayment Charges Nil

Kotak Mahindra Bank Travel Loan Eligibility

To avail the personal loan in Kotak Mahindra Bank, you need to fit into the below eligibility criteria.

Criteria Eligibility
Age of applicant 21 years-58 years
Years in city Minimum 1 year
Total work experience
Minimum 2 years
Net monthly income Rs. 25,000
Residence telephone
Minimum educational qualification
Profile Resident Indian employed at a Public Ltd co./ MNC/ large Pvt. Ltd co

Kotak Mahindra Bank Travel Loan EMI Calculator

When it comes to EMI calculator, it is a useful tool that allows you to calculate your EMIs with the help of taking into account the loan amount, interest rate and tenure of the loan. It gives you exact results in least time frame so that you can know the exact amount of your EMIs.

Lets’ understand the concept of travel loan EMI calculator with the help of an example below:

Suppose you want to travel to Australia and looking a loan of Rs.8,00,000 for that. Now, if you avail this loan amount from Kotak Mahindra Bank at an interest rate that ranges between 11.5%-24% p.a. for 5 years, what would be your EMI? What is that amount that will go every month from your pocket? Excited in knowing? Well, go through this article below. Below is the table showing EMI, Interest Outgo and Total Amount Payable on your travel loan.

Loan Amount Interest Rate Tenure EMI Interest Total Amount
Rs.8,00,000 11.5%-24%p.a. 1 Rs.70,892–75,648 Rs.50,705–1,07,772 Rs.8,50,705–9,07,772
Rs.8,00,000 11.5%-24%p.a. 2 Rs.37,472–42,297 Rs.99,334–2,15,125 Rs.8,99,334–10,15,125
Rs.8,00,000 11.5%-24%p.a. 3 Rs.26,381-31,386 Rs.1,49,709–3,29,906 Rs.9,49,709–11,29,906
Rs.8,00,000 11.5%-24%p.a. 4 Rs.20,871–26,081 Rs.2,01,818–4,51,910 Rs.10,01,818–12,51,910
Rs.8,00,000 11.5%-24%p.a. 5 Rs.17,594–23,014 Rs.2,55,645–5,80,862 Rs.10,55,645–13,80,862

Amortization Table

Year Principal Interest Balance Amount
1 Rs.125,610-Rs. 94,071 Rs.85,518-Rs. 182,097 Rs.674,390-Rs. 705,929
2 Rs.140,844-Rs. 119,305 Rs.70,284-Rs. 156,863 Rs.533,546-Rs. 586,624
3 Rs.157,921-Rs. 151,308 Rs.53,207-Rs. 124,860 Rs. 375,625-Rs. 435,316
4 Rs.177,070-Rs. 191,897 Rs.34,058-Rs. 84,271 Rs.198,555-Rs. 243,419
5 Rs.198,722-Rs. 243,871 Rs.12,585-Rs. 32,797 Rs. 0

Documents Required for Kotak Mahindra Bank Travel Loan

Next, thing on which you need to pay attention is the documentation required to get the travel loan in this bank.

Document Salaried Individuals
Application Form Required
1 photograph Required
Address Proof passport/ telephone bill (bsnl/mtnl)/ electricity bill/ title deed of property/rental agreement/ driving license/ election id card/ photo-credit card (with last two month statements)
Identity Proof Passport Copy/ Voters ID card/ Driving License
PAN card, Aadhar Card, Overseas Citizen of India card, Person of Indian Origin card
Address (Residence) Proof Valid Passport,Voter's ID card,Food Card (Ration Card),Latest IT Return, Original Letter from Company,Telephone/Electricity Bill
Age Proof PAN Card, Passport copy
Signature Proof PAN Card, Driver’s Licence, Passport copy, Banker’s attestation of Bank Account Statement
Income Details Last 3 months’ payslips and Form 16
Bank Account Statements For the last 6 months
Ownership Proof Electricity Bill, Water Bill, Sales Deed, Receipt of Tax paid

Features and Benefits of Kotak Mahindra Bank Travel Loan

  • Attractive interest rates
  • Flexible repayment options
  • Bank Doorstep Service
  • Gain quick approval on loans
  • Minimal paperwork and hassle free processing
  • No security or collateral required

Kotak Mahindra Bank Loan Customer Care

Kotak Mahindra Bank with its best and experienced customer care executives is always there to solve all your queries related to travel loan. You can anytime, call or get in touch with these executives in order to solve any of your queries. You can reach them 24×7 on this toll free number: 1860 266 2666.

Kotak Mahindra Bank Travel Loan Calculator

Now its easy and convenient for you to calculate your EMIs with the help of using the calculator. The bank allows you to know your EMI in a very hassle free manner. All you need to do is just know your loan amount, tenure and rate of interest offered by the lender. The calculator takes into the account only these details and provides you with the instant results.

Kotak Mahindra Bank Travel Loan Interest Rates

When it comes to interest rates offered by Kotak Mahindra Bank, it offers you with the attractive interest rates on travel loan. In order to know the latest rates before availing the loan, you just need to visit the bank’s website. It is easy to access and comes to you with many benefits at one time.

Kotak Mahindra Bank Loan Statement

If you have taken Kotak Mahindra Bank travel loan, it is obvious that you also want to get the monthly statements for the same. Don’t worry, with Kotak bank, you will surely get your monthly statements on a regular basis. With these statements, it is easy to check and monitor each and every activity related to your loan. Now, you don’t have to call the bank or visit the branch near you so as to get your statements. They will automatically reach to your inbox, giving detailed information of your home loan.

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