• Saraswat Bank Pravasi-Travel Personal Loan

    Today, the bank is going to complete 100 years of existence within a few years but remains a much modernized bank, keeping pace with times. The personal loans from the bank are equally useful and are available for various sorts of professionals to serve their designated purposes. This for example, is a personal loan meant for travellers both in the country and beyond. This bank was founded in 1918, and has been a part of history, not just in the country but in the world as well. It was close on heels with the Russian Revolution, was a known Society and as Bank during the First World War, the Second World War along with the Indian freedom Movement and post-independence India. The bank went through very rough patches especially during the time of the World wars. However, they went through with it through sheer determination to save the bank despite all odds. The cooperative movement also had a strong hand in it.

    Purpose of Saraswat Bank Pravasi-Travel Personal Loan

    This particular travel personal loan from Saraswat Bank, is meant to help travellers with financial assistance for inland and overseas travel. There are travel insurance that aid us during emergencies might there may be individual requirements during traveling which are definitely not covered in the insurance, for example the flight tickets itself which can burn a hole in an individual’s pocket. However, this personal loan from Saraswat Bank is exactly intended to help not burn a whole or at least do it in instalments.

    Eligibility criteria for a Saraswat Bank Pravasi-Travel Personal Loan

    The individual should be over 18 years of age and an Indian citizen. Also the income bracket required for this loan is:

    1. Salaried: 12 to 15 times of Net take home salary of the applicant.
    2. Self-employed: 2 times of Net cash accruals of the applicant

    Features and benefits of Saraswat Bank Pravasi-Travel Personal Loan

    The following are the basic features of this personal loan for travellers in Saraswat Bank:

    1. The loan amount can go up to a maximum of Rs 2 lakhs.
    2. Rate of interest is fixed at 16%. However, there is a concession of 0.25% for teaching professionals only if they are associated with a school, university or institution with the exclusion of coaching centres and private tuitions.
    3. Security for this loan for travellers includes
      1. One / more Guarantors depending on merits of the proposal
      2. Direct recovery through Salary / Salary Account.
    4. Shareholding for the personal loan is possible through nominal membership.
    5. Optional Life Insurance cover is available at concessional rates.

    Documents required for Saraswat Bank Pravasi-Travel Personal Loan

    1. You need a duly filled prescribed application form
    2. Photo Identity of the applicant
    3. Residence Proof of the Applicant &
    4. Salaried Individuals: Latest salary slips for the last three months.
    5. Businessman/Professional/self-employed Individuals: Last two years of profit & loss account and balance sheet.

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