RBL Bank Travel Loan

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Kirti Bansal
Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.
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Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

There’s something magical about exploring new places, isn’t there? And sometimes, the dream vacation might need a little financial boost. Urban Money is pleased to present the RBL Bank Personal Travel Loan. Whether envisioning a beach retreat or an adventurous expedition, our travel loan offers a streamlined application process. Below is all the information that you need to plan your next vacation.

Benefits of RBL Bank Travel Loan

Here are a few perks of RBL Bank you will get with every personal loan:

  • Borrow up to INR 20 lakhs to cover various Travel expenses.
  • Enjoy convenient repayment options ranging from 12 to 60 months.
  • No need for collateral.
  • Experience simplified and quick documentation for faster loan approval.
  • Benefit from competitive and attractive interest rates starting at 14%.
  • Use the loan for various medicine-related expenses, including pharmaceuticals, medications and post-treatment care. 
  • After 12 EMIs, there are no foreclosure charges if using your own funds.
  • Existing RBL Bank account holders may receive pre-approved offers and favourable interest rates.

Personal Loan for TravelInterest Rates & Charges

Here is a list of additional charges that you need to face alongside the interest rate:

Fees and Charges Details
Processing Fee 2% of Loan amount
Late Payment of EMI 2% additional interest per month on overdue EMI amount
Duplicate Interest & Principal Certificate ₹250 per instance
Cheque Swapping Charges ₹250 per instance
Bounce Cheque Charges ₹250 per instance
Charges for CIBIL report ₹50 per instance
Part Prepayment No Part Prepayment is allowed in this loan
Agreement Franking Charges As per actuals
Full Prepayment Charges
  • Up to the payment of the first 18 EMIs- 5% of Principal outstanding*<br>.
  • More than 18 EMIs paid – 3% of Principal outstanding*<br>*NIL. 
  • Foreclosure charges only if a minimum of 12 EMIs are paid without any bounce and foreclosure uses Own funds. 
  • Balance Transfer of loan outstanding to another financial institute is not treated as own source of funds.

Tips for Getting an RBL Bank Travel Loan

Tips for an easy sanction of Travel Loan:

  • Make sure your income and work experience meet the bank’s requirements.
  • Figure out exactly how much money you need for the Medical.
  • Keep a good credit score for better loan terms.
  • Double-check and provide accurate documents like IDs and proof of income.
  • If you’re already an RBL Bank customer, see if you have any special offers.
  • Choose a loan with a good interest rate after comparing options.
  • Plan a repayment schedule that fits your budget.
  • Be aware of any extra fees or charges.
  • Talk openly with the bank about your needs.
  • Read and understand the loan terms before signing anything.

Eligibility for RBL Bank Loan for Travel

To be eligible for an RBL Bank personal Travel Loan, you need:

  • Minimum net monthly income of INR 40,000.
  • Minimum age at loan sanction – 25 years. Maximum age at loan maturity – lower than 60 years or retirement age.
  • Work experience of a minimum of 1 year at the current employment and 3 years of total employment experience.

Documents Required for Travel Loan Application

Documents you need for a Travel Loan:

  • Application form with a photograph
  • KYC documents (PAN card, Aadhaar, Passport, Voter ID)
  • Proof of identity and age
  • Proof of address (Aadhaar, Voter ID, Driving License, Passport, Utility Bill)
  • Latest 3 months’ salary credit bank statements
  • Salary slips (1 for loans below 7.5 lakhs, 2 for loans above 7.5 lakhs)
  • For existing RBL Bank account holders, additional verification may be needed.
  • TravelBills (If asked)

How to Apply for a Travel Loan

To apply for a Travel Loan from RBL Bank:

  • Visit the RBL Bank website or branch.
  • Check out the form for a personal loan and complete the application form.
  • Provide necessary documents like ID proof, income proof, and address proof.
  • Submit and wait for the bank’s verification process.

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Frequently Asked Question (FAQs)

How much can I borrow with a personal loan for Travel?

You can borrow up to INR 20 lakhs with an RBL Bank personal loan for Travel.

How long does it take to get an RBL Bank personal loan for Travel?

Getting an RBL Bank personal loan for Travel is easy and quick. It only takes a few days to process and approve the whole process.

Do I need a bank account to get a personal loan for Travel?

Yes, you need a bank account with RBL or any other bank to get a personal loan for a Travel.

What is the credit score requirement for an RBL Bank personal loan for Travel?

A credit score of 700 or above is preferred for RBL Bank personal loans for Travel.

What are the penalties for late payments on an RBL Bank personal loan for Travel?

Charges for late payment of EMI is 2% additional interest per month on the overdue EMI amount.

Urban Money