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Bon Voyage Loan

Are you planning to travel overseas for work? Bon Voyage loan is one of the tailor made loan schemes that helps 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

  • Features & Benefits
  • Eligibility
  • Documents Required
  • Repayment Options
  • Other Terms & Conditions
  • Interest Rates & Charges
  • Speedy loan approval
  • Avail loan amount up to Rs.5 Lakhs
  • Loan amount can include Cost for Train / Air fare, hotel stay, other conveyance cost and expenses
  • Insurance cover
  • No hidden charges or heavy penalties


Who can apply?

  • 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

How to avail the loan?

To avail the loan, Please visit any of our branches.

If you are a new customer, following documents are required:

  • Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
  • Recent Passport size photograph
  • Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
  • Proof of Educational Qualifications – Marksheets/Certificates etc
  • Copy of Passport
  • Copy of Visa
  • Copy of Appointment Letter / Offer Letter from Employer
  • Repayment of the loan can be made as lump sum or as instalments

Quantum of Finance

  • Loan amount will be fixed according to the expenditure involved in going abroad for the proposed employment. Maximum loan amount will be 5 Lakhs.

Expenditure covered under loan

  • One way air fare for journey abroad (if it is to be met by the borrower)
  • Incidental charges for obtaining passport
  • Endorsement of Visa
  • Cost of travel in India
  • Expenses incurred for obtaining medical fitness certificate and other related expenses
  • Permissible Basic Travel Quota
  • Emigration deposit with Government
  • Amount payable to sponsoring agency
  • Expenses for dress
  • Other miscellaneous local expenses


Any of the following items shall be provided as Collateral Security:
  • Immovable property – preferably residential property (i.e., land with house where the borrower / co-obligant currently resides). 
  • Bank Deposits
  • Other liquid securities

Other conditions

  • Period of the loan will be maximum 60 months 
  • Loan period shall not exceed the period of employment
  • EMI shall not exceed 50% of prospective / possible monthly inward remittances by the borrower after taking up proposed employment abroad.
  • Repayment holiday – 3 months from the date of departure or 6 months from the date of loan whichever is earlier
  • Insurance - Life of the borrower shall be covered under single premium life insurance policy (covering death, normal, accident and suicide)
  • Processing & Admin fee: 0.50% (subject to a minimum of Rs. 500/-)
  • Late payment penalty of 2% of overdue amount per month (if delayed more than 30 days)


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