Online travel portal cleartrip.com has launched an equated monthly installment (EMI) payment option for all international and domestic flights as well as hotels.

"We found that there are huge number of Indians who want to travel, but are often restricted by budgetary constraints. Airfares and hotel stays add up as the biggest component of travel expenses for them. This is the set of people we want to reach out to," Cleartrip EVP (Supplier Relations) Noel Swain said.

The EMI facility is currently available for credit card holders of ICICI bank, HDFC bank and Standard Chartered bank and talks are on for adding more banks, he added. Customers can opt to pay in EMIs of three months, six months and nine months.