Karur Vysya Bank Travel Loan

Do you dream of exploring the world and experiencing different cultures? Do you want to travel abroad for work or leisure but don’t have enough funds to do so? If yes, then you might be interested in the Karur Vysya Bank Travel Loan, a personal loan scheme that can help you fulfil your travel aspirations.

Karur Vysya Bank Travel Loan, also called the Bon Voyage Scheme, is designed to cater to your foreign travel needs, whether it is for business or pleasure. You can avail of this loan for any valid travel purpose, such as attending a conference, visiting a relative, going on a vacation, or pursuing higher education. You can borrow up to 5 lakh rupees with a margin of 25%, which means you only need to pay 25% of the total travel cost upfront, and the rest can be financed by the loan.

It offers you a flexible repayment tenure of up to 36 months, so you can choose a plan that suits your budget and income. You can also enjoy a low processing fee of 0.30% of the loan amount, which is one of the lowest in the market. Moreover, you do not need to provide any collateral or guarantor to secure this loan, as it is based on your creditworthiness and repayment capacity. So, what are you waiting for? Apply for a KVB Travel Loan today and get ready to embark on your dream journey. Karur Vysya Bank Travel Loan – your passport to the world.

Feature Benefits of Karur Vysya Bank Travel Loan

Here are some of the features and benefits of this loan:

• You can borrow up to 5 lakh rupees with a margin of 25%, which means you only need to pay 25% of the total travel cost upfront, and the rest can be financed by the loan.
• You can enjoy a low interest rate on your loan.
• Depending on your budget and convenience, you can select a repayment duration of up to 36 months. You can also prepay or foreclose your loan at any time without any penalty, subject to certain conditions.
• A bank statement, identification, proof of address, and proof of income are among the few essential documents you need to apply for a loan.
• You can get your loan approved within minutes and disbursed to your bank account within 24 hours, subject to verification and completion of formalities.
• Since this loan is determined by your creditworthiness and ability to repay it, you are not required to offer any security or guarantor.

What Are the Interest Rates for Karur Vysya Bank Travel Loans?

The interest rates for Karur Vysya Bank Travel loans vary depending on the loan scheme, the loan amount, and the loan tenure. Here is a table that shows the interest rates for different loan schemes and loan amounts, assuming a fixed rate of interest and a loan tenure of 36 months.

Loan Scheme	Loan Amount	Interest Rate
Bon Voyage	Up to 5 lakh	15.60% to 17.10%
Insta Loan	Up to 10 lakh	12.00% to 13.30%
Personal Loan (Secured/Unsecured)	Up to 75 lakh	12.00% to 18.00%
Quick Loan	Up to 5 lakh	11.15%
IPO Funding	Up to 5 lakh	14.75%

Why Choose Karur Vysya Bank for Travel Loans?

Some of the reasons why you might want to choose Karur Vysya Bank for travel loans are:

• Up to a 5 lakh rupee loan with a 25% margin is available to you, meaning that you will only have to pay 25% of the total cost of the trip up front because the loan will cover the remaining amount.
• Depending on your budget and convenience, you can select a flexible repayment period of up to 36 months.
•  You can also prepay or foreclose your loan at any time without any penalty, subject to certain conditions.
• If all formalities are completed and verification is completed, you can apply for a loan with little paperwork, receive quick approval, and have it disbursed immediately.
• You can use this loan for any valid travel purpose, such as attending a conference, visiting a relative, going on a vacation, or pursuing higher education.

Tips for Getting a Karur Vysya Bank Travel Loan

If you are planning to apply for a Karur Vysya Bank Travel Loan, here are some tips that can help you get the best deal and avoid any hassles:

• Before you apply for the loan, make sure you meet the bank’s eligibility criteria, such as age, income, credit score, and travel purpose. You can check your eligibility online through the bank’s website or Urban Money’s platform.
• Compare and choose the best loan scheme, as Karur Vysya Bank offers different loan schemes for travel loans, such as Bon Voyage, Insta Loan, Personal Loan, Quick Loan, and IPO Funding. 
• Before you apply for the loan, plan your travel budget and estimate the total cost of your trip, including airfare, accommodation, visa, insurance, food, shopping, etc. Do not borrow more than you need or can afford to repay.
• Gather and submit the required documents.
• Repay your loan on time.

Who is eligible for a Karur Vysya Bank Travel Loan?

According to the bank’s website, the eligibility criteria for a Karur Vysya Bank Travel Loan are:

• The person shall be an Indian citizen or person residing in India.
• The person shall have a minimum monthly income of 25,000 rupees if salaried or 2 lakh rupees if self-employed.
• The person shall have a good credit score and a stable source of income.
• The person shall use the loan for a valid travel purpose, such as business or pleasure.

Documents Required for Karur Vysya Bank Travel Loan Application

The documents required for the Karur Vysya Bank Travel Loan Application are:

• Filled loan application form
• Proof of identity (photocopies of Passport/ IT PAN card / Driving Licence)
• 3 Passport size photographs
• Statement of Bank Account/ Pass Book for last six months
• Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill)
• IT returns for the past three years for self-employed professionals
• Form 16/IT returns for the last two financial years for salaried employees

*You can download the loan application form and other forms from the Karur Vysya Bank website. You can also apply for a personal loan online on the same website.

What Are the Things to Consider While Taking a Travel Loan?

Before you apply for a travel loan, you should consider the following things:

• You should estimate the cost of your trip and borrow only what you need. Avoid taking a loan that exceeds 50% of your salary or that you cannot repay comfortably.
• Choose a loan tenure that suits your repayment capacity and minimises your interest outgo. Use an EMI calculator to find the optimal combination of loan amount, EMI and tenure.
• Look for a loan that offers flexible repayment options and low or no prepayment or foreclosure charges. This will allow you to pay off your debt faster and save on interest.
• Buy a suitable travel insurance policy to protect yourself from unforeseen events like theft, accidents, etc. You should also have all the required documents ready for your loan application, such as proof of identity, income, residence, etc.

How to Apply for a Karur Vysya Bank Travel Loan ?

To apply for a travel loan from Karur Vysya Bank, you can follow these steps:

• Visit the Karur Vysya Bank website and click on Apply Now under Personal Loan Schemes.
• Fill out the online application form with your personal, income, and travel details. You can also download the form and print it out.
• Upload or attach the required documents, such as proof of identity, proof of residence, proof of income, bank statements, etc.
• Submit the application form and wait for the bank’s approval. You may also get instant approval if you meet the bank’s criteria.
• Once approved, the loan amount will be disbursed to your bank account within a few hours or days, depending on the bank.

*You can also apply for a travel loan offline by visiting the nearest branch office of Karur Vysya Bank and submitting physical copies of the documents.