Bon Voyage

KVB has constructed a loan to help individuals or proprietorship firms. It covers all expenses on foreign travel for business or pleasure. The loan has been specifically designed so the borrower can repay it in easy installments.

• This is an Installment Loan
• It is specifically for individuals and partnership firms.
• The loan is for personal purposes
• The loan amount is to finance foreign travel expenditure whether it is business or personal.
• The guarantor can be any credit worthy persons who is related to the borrower, including the employer of borrower or firm, the company in which borrower is a partner or director and the owner of the collateral security.

Charges and Limits
Loan Amount	Maximum of 5 lacs.
Margin	25% of the cost involved
Disbursement	–
Documentation Charges	–
Primary Security	DPN
Collateral Security	At the discretion of the sanctioning authority (Not mandatory). However branches shall endeavour to obtain security like NSCs/KVPs/IVPs/RBI Relief bonds/LIC Policies (Surrender Secured Loan value alone to be considered for LIC Policies)/EM charge on immovable property.
Repayment	Maximum 36 EMIs

For details of Processing Charges & Other charges, prospective customers are requested to contact nearby branches

• The Person should be an Indian citizen and resident in India
• Foreign Exchange cannot be released for travel in Nepal / Bhutan
• In case the person is employed, take home salary should be at least Rs1.20 lakhs p.a.
• In case the person is employed, it shall be ensured that the net take home salary available to the borrower, after deducting the EMI for the proposed loan, shall be at least 25% of gross salary as indicated by salary certificate or pay slip.
• The amount of loan eligible shall be arrived at after reducing the stipulated margin from the eligible costs. All ineligible costs shall be met entirely by the borrower.

• In case the person is employed, an undertaking letter shall be obtained from the employer to deduct monthly installments and make direct payments to our bank.
• In case credit facilities are already sanctioned to the borrower by higher authorities, the proposal for the loan shall be forwarded to such higher authorities for sanction

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