SBI, Air-India, S'pore Tourism offer special travel package

State Bank of India (SBI) in association with Air-India and Singapore Tourism Board has launched a personal loan scheme for travel to Singapore.

The package that is available to all residents of Andhra Pradesh will be valid from January 1, 2005, to March 31, 2005, on all the six weekly Air-India flights on the Hyderabad-Singapore-Hyderabad route.

The package includes three schemes that are open for all employees in public sector units, corporates, self-employed persons, traders with IT returns, insurance agents and so on. Besides, group bookings in case of school and college trips can also be done.

Scheme A that includes only airfare on Air-India flights involves an indicative loan amount of Rs 17,500 for an adult and Rs 12,550 for a child.

Scheme B with an indicative loan amount of Rs 20,600 for an adult and Rs 15,650 for a child involves financing of airfare and four days and three nights stay at Metropolitan YMCA with daily breakfast, half-day city tour and one lunch, besides a boat ride and a visit to Newater plant. Newater is a plant that recycles sewage water to drinking water.

Scheme C with an indicative loan amount of Rs 22,000 for an adult and Rs 17,050 for a child involves the same deal as in scheme B, except for the stay that will be at a four-star hotel called Golden Landmark. Besides the above schemes, loan for shopping can also be availed of, from SBI for the Singapore tour.

These loans are repayable in equated monthly installments (EMIs) spread over periods of 12, 24, 36 and 48 months, at a rate of interest of 12.75 per cent on a daily reducing balance. The EMIs for the schemes range from Rs 335 to Rs 418 for a child and Rs 467 to Rs 550 for an adult for 48 months.

A similar scheme was launched by Air-India and Singapore Tourism Board in Tamil Nadu and Pondicherry earlier, in association with Indian Bank. It was, however, only for salaried employees.

"It has just been about three weeks since this scheme was launched there and it has been quite successful," S M Mazharullah, manager-Andhra Pradesh, Air-India, said at a press conference.

"Through such schemes we are trying to tap new markets, especially the first time travellers who have the interests but not the means to travel to Singapore," Mazharullah said.

"Although the schemes are valid till March this year, based on the success of this package we might extend it to the next financial year as well. We may extend it to other countries like Maldives also," he added.

"From January to November 2004, around 4,26,500 Indians travelled to Singapore," Bridget Goh, area director, south India, Sri Lanka and Maldives, Singapore Tourism Board, said. From Hyderabad itself, there were 8,931 visitors during the same period registering a growth of 47.5 per cent over 2003, she added.