hometravel NewsEaseMyTrip launches SIP scheme for travel plans — details here

EaseMyTrip launches SIP scheme for travel plans — details here

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By CNBCTV18.com Oct 14, 2022 11:28:32 AM IST (Published)

Amount invested through SIP can be redeemed after 90 days and used for booking travel tickets.

Online travel platform EaseMyTrip has announced the launch of a new product line, Save Now Buy Later (SNBL). This is an investment scheme that allows customers to start a Systematic Investment Plan (SIP) for their travel plans.

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Customers can invest an amount as low as Rs 100 on a recurring basis.

EaseMyTrip in a release said that investments will get “a return of up to 20 percent on the total invested amount exclusively from the company”.

“The investment scheme can be availed for a minimum of 90 days. For domestic travellers, upon successful completion of 90 days, the collected amount can be redeemed to book a holiday package or a hotel stay of choice anytime post the 90 days period on EaseMyTrip,” the company said.

Investable Period and Sum

To enable customers to plan overseas travel well in advance, international travellers can invest beyond 90 days, which can be extended to a maximum of two years.

“The maximum duration of the investment can be done for two years or Rs 5 lakh whichever is achieved first for both domestic and international travels,” the release added.

EaseMyTrip shares were trading 0.62 percent higher at Rs 390.75 on BSE at 10.26 am.

Earlier this week, the board of directors of EaseMyTrip approved the issuance of bonus shares in the ratio of 3:1 and a stock split.

The company regulatory filing informed exchanges for board approval for the sub-division of each existing equity share of the face value of Rs 2 into two equity shares of the face value of Re 1. The filing also noted Free Reserves of over 130 crore that are required for implementing the bonus issue are available.

In August, EaseMyTrip also sold tickets worth Rs 300 crore in the first ten days of the month as part of its annual festive season sale.

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