Loan Details

Federal Bank - Bon Voyage Loan

General
Institution name:

Product Name:

Bon Voyage Loan

Purpose:

Resident

Loan Details
Loan Type:

Professionals Loan

Amount Requested:

Rs.100,000

Loan Term:

36 months

EMI:

Rs.3,430

Total Interest:

Rs.23,477

Total to Repay:

Rs.123,477

Loan Payment Schedule

Interest Rates
Interest Rate:

14.25%

Eligibility

Eligibility Notes:

Any resident Indian who has got a letter of appointment or a letter from a recognized overseas institution or recruitment agent establishing that a firm offer of employment abroad has been secured

Foreign nationals (Persons of Indian origin or other holding foreign passports) are not eligible for the loan

Maximum Age:

55 years

Margin:

25% Above Rs 2 lacs and upto Rs 5 lacs

Above Rs 5 lacs 30%

Other Loan Features
Loan Amount:

Rs.1,000 to Rs.500,000

Duration:

1 to 60 months

Repayment:

60 Months

Security:

Any security.

General:

Loan Purpose

To meet the initial expenditure involved in going abroad for taking up employment for skilled / qualified persons such as Doctors, Nurses, Engineers, IT professionals, Management consultants etc

Fees

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All rates and product information on this website are updated on a regular basis. Last update made 01 Sep 2010.

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