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 Holiday Investment Plan How It Works
  • How it works

    Simple saving options for your dream holiday

    We at SOTC believe holidays should be made more accessible and thus we present to you ‘The Holiday Investment Plan’ that enables you to save bit by bit for your next holiday. It’s a Recurring Deposit with our banking partner that lets you choose a pre-decided amount that you will save every month over a period of 12 months.

    Once complete, simply redeem it for a holiday that’s made for you and your family. So go ahead and take the simple 3 steps towards making your holiday dream come true.

    The Holiday Investment Plan Simplified (Illustration)

    Holiday Investment Plan
    HIP Installment x 12 Months 12,000
    Total 1,44,000
    You Earn Interest 6,513
    Your Holiday Cost 1,37,487
    Plus SOTC Contribution x 1 Month 12,000
    Prices are per person Ex-Mumbai @ 1 Euro = 68

    Interest earned calculated at 8.2% p.a. and may vary based on bank T&C.

    Banking Partner

    Kotak Mahindra   IndusInd

  • FAQs

    1. Who can avail of this option?
    This option is available for all Resident Indians and for all product types – Escorted Tours, Customised Holidays and Domestic Holidays.

    2. How does the Holiday Investment Plan (HIP) work?
    The Holiday Investment Plan is a simple saving option to plan for your dream holiday. You just need to choose from the given destinations, plan the no. of people traveling and open a recurring deposit account with our banking partner where you would save the pre-decided monthly instalment over 12 months. You just need to give us a go ahead on your choice of destination & selected plan via an HIP consent form and our banking partner will assist you in the account opening formalities.

    3. What is a Recurring Deposit?
    Recurring Deposit in a monthly savings tool wherein a pre-fixed amount is saved every month. This deposit earns interest as applicable from the day of opening of the account.

    4. When can I take the holiday?
    You can redeem your holiday 45 days after we receive the funds from the bank on maturity of your recurring deposit and after receiving all your necessary travel documents. However, you need to utilise your holiday within 120 days of maturity.

    5. What documents are required to enroll for the HIP?
    The following documents will be required:
    By SOTC
    • HIP Consent form
    • Booking form (on maturity and finalization of travel dates)
    • Other documents as required by the respective consulate/embassy for your visa application (if applicable).
    By our Banking Partner
    • Account opening form
    • KYC documents

    6. Do I need to intimate you on my maturity date of the HIP recurring deposit account?
    We will take care of that so you don’t have to worry. Prior to maturity of your account we will remind you to finalise your holiday dates. We will help you in deciding the exact dates, advice on documents required and assist you with additional services that you may wish to avail of.

    7. Can I modify, change or top up my holiday?
    Yes, you have complete flexibility to modify, change or top up your holiday post maturity of the plan. However you would need to pay the differential amount to us for the same. Our sales representative will assist you for the same.

    8. Do I earn interest on the HIP recurring deposit account?
    Of course you do. You will earn interest as per the prevailing rate offered by Bank the day you open the account. You can refer to the banks website on details of how the interest is calculated and how much you will earn over the 12 months.

    9. Do I get to keep the interest?
    The interest you earn on your savings in the HIP recurring deposit account is for you alone. Only the principal amount that you save will be utilised against your holiday and the interest that you earn will remain in your account. You may also choose to utilise it to top up your holiday.

    10. What do you mean by Rate of Exchange (ROE) fluctuation?
    As you would be aware in current market dynamics the ROE fluctuations are very difficult to predict. We have currently priced our International products at the current ROE which may or may not fluctuate. If there is any fluctuation when you confirm your travel dates with us, by signing our booking form, you will either have to
    a. Get a refund if the ROE is lower or
    b. Pay the difference if the ROE is higher

    11. Do I contact you for details of the HIP Recurring Deposit account?
    You can contact us for details on your holiday selection and for finalising your travel dates on maturity of the account. However for details pertaining to your recurring deposit account, interest earned, maturity dates you can call our Banking partner directly through their customer communications channel. But yes for anything to do with regards to your holiday, you can call us directly.

    12. What if I miss an installment or delay in payment of the installment?
    SOTC will not charge any penalty; however, the partnering bank may levy penalties as per their prevailing terms and conditions.

    13. Can I break my Recurring Deposit prematurely and avail of a holiday?
    Yes you may. In case of premature closure of the RD account you need to contact the bank directly. They will guide you on the process for premature closure. The bank may apply penalties as per their terms, however, we will not charge you any penalty for the same. If you choose to use the amount saved so far to avail of a holiday you can definitely do so by paying the differential amount in the tour cost but you will not qualify for the HIP offer.

    14. At the end of the tenure what if I choose not to avail of the holiday package?
    Ideally we would want you to enjoy your holiday for which you have saved for. However, if you decide not to avail the package after confirmation of travel participation by signing the booking form, the cancellation charges as per the booking terms & conditions apply.

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x 12 Months
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x 12 Months
Uttarakhand Delights
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x 12 Months
Kashmir Delights
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x 12 Months
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Highlights of Andamans - 6 Days
x 12 Months
Dubai Delight
Dubai Delight - 5 Days
x 12 Months
Egypt with Jordan
Egypt with Jordan - 11 Days
x 12 Months
Asian Royale
Asian Royale - 7 Days
x 12 Months
European Dreams
European Dreams - 8 Days
x 12 Months
South African Splendor
South African Splendor - 9 Days
x 12 Months
Spanish Fiesta
Spanish Fiesta - 12 Days
x 12 Months
Wonders of Australia
Wonders of Australia - 10 Days
21, 400*
x 12 Months
Sri Lanka
Sri Lanka - 5 Days
x 12 Months
Malaysia - 4 Days
x 12 Months
Singapore - 5 Days
x 12 Months
Switzerland - 8 Days
x 12 Months