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 3% of the loan amount is also levied. 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. Start your loan application journey by clicking here.
2. Fill out the form with required details such as your mobile number, PAN, pincode, and type of employment – salaried or self-employed.
3. Confirm your mobile number with a 6-digit OTP and make sure that your email ID is also verified.
4. Provide some more details like your email address, birth date, gender, and employment and income specifics.
5. Go over the loan offer, which is customised for you, noting the amount, fees, and repayment terms. Confirm acceptance if it meets your needs. You will also find an option to go for a higher loan amount.
6. For salaried employees, it is crucial to provide the relevant details about your employment.
7. Complete necessary digital verifications for identity and address through CKYC, OKYC, or DigiLocker.
8. Enter the details about your bank account, which we will verify. Post this, specify your references, marital status, and other personal information in the ‘Additional Details’ section.
9. Opt for a payment mode of debit card or internet banking, before setting up eNACH.
10. 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