Travel Loan

Travel Loan Eligibility Criteria

SMFG India Credit offers personal loans for holidays to all resident citizens of India who are between the ages of 21 years and 65 years. You can avail the loan regardless of whether you are a salaried employee or a self-employed person. The minimum monthly income for residents of Mumbai and Delhi is RS. 25,000 and RS. 20,000 for residents of all other locations. If you are self-employed, a minimum annual profit after tax will be considered instead. Please click here to know more.

Travel Loan Interest Rates

With SMFG India Credit, you can get a personal loan for travel for as low as interest rates 13%* per annum. Remember that the interest rate you are charged depends on your credit score, existing relationship with us, the total loan amount and tenure, and the nature of your occupation. Therefore, ensure that you service all your current debts on time to enjoy a better interest rate. Furthermore, a processing fee of Up to 5% of the total loan amount + GST. Here are some of the key features of our personal loans.

Documents Required for Personal Loan for Travel

To facilitate the smooth processing of your loan application, ensure you provide the following documents for a personal loan for travel:

1. Identity Proof: A copy of your passport, voter ID card, driver's license, or Aadhaar card is required for identity verification.
2. Address Proof: Submit a copy of your passport, voter ID card, driving license, or Aadhaar card to verify your current residence.
3. Income Proof: Include your two most recent salary slips or a current, dated salary certificate along with the latest Form 16. These documents provide insights into your income and tax liabilities.

How to Apply for Travel Loan

For completing a personal loan application with SMFG India Credit, follow these steps:

1. Enter Required Information

Fill out the form with required details such as your mobile number, PAN, pincode, and type of employment – salaried or self-employed.

2. Authenticate Mobile Number

Confirm your mobile number with a 6-digit OTP sent to your device.

3. Add Further Personal Information

Provide some more details like your email address, birth date, gender, and annual household income specifics. Make sure that your email ID is also verified.

4. Provide Employment Information

For salaried employees, it is crucial to provide the relevant details about your employment.

5. Upload Bank Statement (Applicable for Salaried Individuals Only)

Kindly provide your bank statement through one of the following options: Net Banking, Account Aggregator, or by uploading the document. The banking details you share will be used to generate a loan offer.

6. Verify Your Identity

Complete necessary digital verifications for identity (including taking a selfie) and provide address details through CKYC, Offline Aadhaar XML-based KYC, or DigiLocker.

7. Bank Account Details

Enter the details about your bank account, which we will verify.

8. Fill in the ‘Additional Details’ Section

Post bank account verification, specify your marital status, loan purpose, father’s name, and mother’s maiden name in the ‘Additional Details’ section.

9. Set Up Re-payment via E-NACH

Opt for a re-payment mode of debit card or internet banking, before setting up E-NACH.

10. Sign the Loan Agreement Digitally

Once you have carefully reviewed the loan agreement, digitally sign it and acknowledge the terms and conditions. Confirm the loan agreement using an OTP sent to your mobile number.

Move closer to your financial goals by following these easy steps from SMFG India Credit.

What is a Travel Loan EMI Calculator?

A travel loan EMI calculator is a tool designed to provide insights into the Equated Monthly Installments (EMI) you will be required to pay over the tenure of your travel loan. It breaks down the payments into principal and interest components, aiding in understanding the financial commitment throughout the loan period.

Utilizing the Personal online EMI calculator enables you to determine a comfortable monthly payment amount that aligns with your financial preferences and capabilities. The calculator empowers you to plan and manage your monthly installments effectively, facilitating a seamless repayment process for your travel loan. Additionally, the prepayment calculator assists in evaluating the impact of early repayments on various loan parameters, such as EMI and tenor, offering a comprehensive view of your financial landscape

What Are The Things You Should Consider Before Applying For A Travel Loan?

Before applying for a travel loan to explore, consider the following aspects to ensure a seamless and stress-free travel financing experience:

• Accommodation Cost
• Travelling Costs
• Airfares
• Tickets
• Tour Packages
• Insurance
• Food Expenses
• Visa Fees