What is Tourism Finance?
Loan for tourism sector is a unique product provided to people who love traveling and staying outside places due to business or other purposes.
| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | |
|---|---|---|---|---|---|
|
9.00%
|
1%
|
1500
|
120
|
|
|
9.25%
|
1%
|
1000
|
120
|
|
|
9.50%
|
1%
|
1500
|
120
|
|
|
9.60%
|
1%
|
1500
|
120
|
|
|
9.20%
|
1%
|
1500
|
120
|
|
|
9.25%
|
1%
|
1000
|
120
|
|
|
9.35%
|
1%
|
1500
|
120
|
|
|
9.75%
|
1%
|
1500
|
120
|
|
|
9.50%
|
1%
|
1500
|
120
|
|
|
9.25%
|
1%
|
1000
|
120
|
|
|
9.35%
|
1%
|
1000
|
120
|
|
|
9.60%
|
1%
|
1000
|
120
|
|
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|
9.00%
|
1%
|
1500
|
120
|
|
|
9.58%
|
1%
|
1500
|
120
|
|
|
9.50%
|
1%
|
1500
|
120
|
|
|
9.60%
|
1%
|
1000
|
120
|
|
|
9.60%
|
1%
|
1500
|
120
|
|
|
9.60%
|
1
|
1500
|
120
|
|
|
9.00%
|
1%
|
1000
|
120
|
|
|
9.00%
|
1%
|
1000
|
120
|
|
|
9.25%
|
1%
|
1500
|
120
|
|
|
9.60%
|
1%
|
1500
|
120
|
|
.png)
|
9.25%
|
1%
|
1500
|
120
|
|
|
9.25%
|
1%
|
1500
|
120
|
|
|
9.00%
|
1%
|
1500
|
120
|
|
|
9.25%
|
1%
|
1000
|
120
|
|
|
9.25%
|
1%
|
1000
|
120
|
|
| Bank Name | Min Interest Rate | |
|---|---|---|
|
|
9.00% |
|
|
|
9.25% |
|
|
|
9.50% |
|
|
|
9.60% |
|
|
|
9.20% |
|
|
|
9.25% |
|
|
|
9.35% |
|
|
|
9.75% |
|
|
|
9.50% |
|
|
|
9.25% |
|
|
|
9.35% |
|
|
|
9.60% |
|
|
|
9.00% |
|
|
|
9.58% |
|
|
|
9.50% |
|
|
|
9.60% |
|
|
|
9.60% |
|
|
|
9.60% |
|
|
|
9.00% |
|
|
|
9.00% |
|
|
|
9.25% |
|
|
|
9.60% |
|
|
|
9.25% |
|
|
|
9.25% |
|
|
|
9.00% |
|
|
|
9.25% |
|
|
|
9.25% |
|
This facility is dedicatedly designed for hospitality sector involved in hotel, motel, hostel, food & breakfast. Even, it helps to expand the business growth through providing loan & it work as a working capital of business.
There are few eligibility criteria you are required to have a look before applying for loan -
Note: - This facility covers 75% of project cost as a maximum loan amount.
There are Top factors that generally affects Tourism & Hospitality Eligibility Criteria as given below-
Unstable business: - Business is all about up & downs, but when the idea of availing loan emerge, Lender will check your business stability to determines repayment capacity & due to lack of stability in business recent loss may led to badly hit your eligibility.
Low credit rating: - A high Credit rating helps you to get benefits of negotiating interest & easy approval of loan & credit, wherein a low rating makes it hard to get a loan as repayment level seems high risky.
To increase Tourism & Hospitality' eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level.
Well business plan: - Usually for any project funding a well thought business plan requires to estimate the funding prospect, used equipment & technology, finally a revenue generation plan. Strong business plan will definitely going to boost your eligibility.
Maintain good credit: - Pay your loan EMI, bills on regular basis to avoid any kind of score affect in credit. If you are looking to close old credit cards, avoid doing that, as it can help you increasing credit limit as well as loan eligibility.
What is Tourism Finance?
Loan for tourism sector is a unique product provided to people who love traveling and staying outside places due to business or other purposes.
Can I get a loan for travel and tourisms?
Yes, most of the Government Bank provide Tourism Loan.
Is there any processing charges applicable in Tourism Finance?
When you take Tourism Finance so you don’t need to pay any processing charges & prepayment charges.
How much Tourism Loan can I get?
You can get a Tourisms Loan up to Rs 10 lakh.
Who is eligible for Tourism Finance?
Any sole proprietor, a partnership firm involve in Travel and Tourism Finance.
What is the purpose of Tourism Finance?
The purpose of Tourism Finance is to cover up all travelling, accommodation, food & other expenses under one fund.
When I have to repay my Tourism Finance?
You can repay your Tourism Finance within 1 year to 5 years.
What are the documents required for Tourism Finance?
The necessary documents generally required are: -
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