| Salient Features |
- Loan sanctioned to individuals for meeting the tour expenses in respect of holiday or pilgrimage tour in India either independently or through travel agency conducting the tour
- Tour expenses shall comprise airfare, train fare and/or bus fare or car hire, ferry charges, accommodation fees or hotel room rent, sight seeing charges, boarding charges, etc., for the individual and his family. However, it will not include the amount of purchases made during the tour.
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| Eligibility |
- He/she should be a person of integrity and good reputation.
- He/she must be a Regular/Associate/Nominal member of the Bank.
- He/She must be a salaried employee/professional persons/ self-employed persons/ businessmen, high net-worth individuals, agriculturists and pensioners.
- He/she should have at least 50% take home salary.
- He/she should have a balance service of at least 5 years.
- He/she should possess a Savings Bank account, which is KYC compliant.
- Pensioners with repayment capacity
- Maximum permissible age at the time of applying is 50 years & at the end of repayment period is 60 years in case of employees and the age shall not exceed 65years in the case of retired persons or senior citizens.
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| Quantum of Loan |
100 % of the tour expenses or Rs.50, 000/- whichever is less. |
| Processing fee |
* 1.10 % on Loan amount with a minimum of Rs. 250/- (Non refundable) |
| Interest Rates |
As prescribed by the Board. |
| Tenure |
24 months |
| Surety or guarantee |
- The surety may be a regular/associate/nominal member having sufficient income and creditworthiness acceptable to the Bank.
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| Documents to be submitted for processing the application |
- Applicant must be a Regular Member/Associate/ Nominal of the Bank with credibility.
- Salaried person must be in the permanent service drawing a take home salary not less than 50% of his salary and having a balance service of atleast 5 years and non salaried persons should have sufficient income from his business/ profession to repay the loan.
- He/she should possess a Savings Bank account, which is KYC compliant.
- Life insurance policy covering the life risk of the borrower to an assured sum of twice the amount of loan will be obtained and assigned to the Bank. The assignment will be registered with the Company, which issued the policy.
- Personal surety/guarantee of a respectable and creditworthy person having satisfactory income and acceptable to the Bank.
- The loan amount will be credited to borrower’s Savings Bank/ Current account after obtaining documents prescribed by the bank. In case of arranged tour programme the bill amount will be remitted to TOUR CONDUCTOR by means of Bank’s pay order.
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| Release of Loan Amt |
- Execution of prescribed document by the borrower and the surety.
Creation of charge in favour of the Bank on security. |
