Kalyan Paryatan is a Tourism Loan offered by the Kalyan Janata Sahakari Bank Limited in order to meet the expenses of Overseas, Domestic Tour or Travel of the borrower.
Purpose – To meet the tour (domestic or foreign) expenses of the borrower
Eligibility – Salaried employees, businessmen, self-employed, professionals having regular source of income
Loan Amount – Maximum Rs.5 lakh
Margin – Minimum 25 per cent
Repayment Period – Maximum 3 years
Guarantors – Two guarantors with sufficient net worth and income, to be acceptable to the Bank
Security – Up to Rs.2 lakh – no security required (only two guarantors),for loan above Rs.2 lakh the bank requires 100% security by way of immoveable property or financial assets like term deposits, NSC etc unlike other personal loan
Processing Charge – 1% of the Loan limit sanctioned
Subscription of Bank’s Share – Bank’s share to be purchased for 2.50% of the sanctioned limit or Rs.5 lakh, whichever is less; Dividend will be payable on this amount as per declaration of dividend by the Bank.
Pre-payment Charges – Pre-payment charges at 2% p.a. will be charged on the outstanding balance at the time of its closure before the due date.