Kotak Mahindra Bank Travel Loan Details:
|Interest Rates||11.5% -24%|
|Loan Amount||Rs. 50,000-Rs.15 Lakh|
|Repayment||12 months-60 months|
|Processing Fees||Upto 2%-3%|
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 Eligibility
To avail the personal loan in Kotak Mahindra Bank, you need to fit into the below eligibility criteria.
|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 ||Required|
|Minimum educational qualification ||Graduate|
|Profile||Resident Indian employed at a Public Ltd co./ MNC/ large Pvt. Ltd co|
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 Axis 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|
|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.
|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.
(Updated on: 17th October, 2016)