Dhanlaxmi Bank

Dhanlaxmi Bank Personal Loan


Apply Dhanlaxmi Bank Personal Loan

About Dhanlaxmi Bank Personal Loan

Established in the city of Thrissur in the state of Kerala in 1927, Dhanlaxmi Bank Limited has a rich history of providing highly banking service to clients not only in Kerala but throughout the country through its 628 branches. Over the years, the bank has grown gradually earning goodwill and trust from clients through its high level of service and targeted products to suit clients. The bank has embraced innovation by employing modern technology and has been able to offer a gamut of products suiting people from all strata of society. Technology has helped the bank to scale up rapidly in recent years and offer tailor-made products to clients to fulfill their requirements.

The bank offers a gamut of financial products including Personal Loans. Dhanlaxmi Bank Personal Loans can be used for a variety of purposes. Personal Loans are means to borrow lump cash needs to meet the personal needs of an individual. These are unsecured loans and do not carry any guarantees or collateral and hence the Personal Loans have a higher rate of interest when compared to other types of loans like home loans, etc. Dhanlaxmi Bank Limited, through its vast network of branches and high customer service is a preferred bank for getting Personal Loans.

Dhanlaxmi Bank Personal Loan Interest Rate - June 2021

Interest rate


Loan tenure

5 Years

Loan turn around period

1-7 Days

Processing Charges

Up to 2.5 % of loan sanctioned + Taxes

Who can apply?

Self-employed professionals

Salaried individuals

Indian residents

Dishonour Charges

750 per instance

Lowest EMI

2230  Per Lakh

Why Dhanlaxmi Bank Personal Loan?

Applying for a Personal Loan from Dhanlaxmi Bank provides you with the following benefits:

  • Flexible loan amount
  • Flexible repayment options
  • Easy and simple documentation
  • The complete process of applying for Dhanlaxmi Bank Personal Loan is simple, quick, and hassle-free. One can get funds in a matter of hours, depending on the financial profile of the applicant.
  • One has the flexibility of using the loan as one desires
  • Based on the credit profile, financial position of the loan applicant, Dhanlaxmi Bank approves a Personal Loan through easy steps and minimum documentation in a matter of hours. The loan application process is smooth and fast.

Features and Benefits of Dhanlaxmi Bank Personal Loans

Parameters Salaried Self employed

Loan amount

1 Lakh to 15 Lakhs

3 Lakhs to 15 Lakhs

Loan tenure

12 to 60 months

12 to 60 months

Processing fee

Up to 2.5% of the loan amount, minimum 1,250

Up to 2.5% of the loan amount, minimum 1,250

  • You can fund various kinds of personal cash needs like children education, marriage, buying a consumer durable or purchasing a car, and do on through multipurpose Personal Loan from Dhanlaxmi Bank.
  • Personal Loan available for salaried employees as well as self-employed individuals
  • Depending on eligibility and requirement, Dhanlaxmi Bank offers Personal Loan between 1 Lakh to 15 Lakhs for a salaried employee. In case of a self-employed borrower, the Personal Loan amount can vary from an amount of 3 Lakhs to a maximum of 15 Lakhs.
  • Dhanlaxmi Bank offers Personal Loans with tenures in the range of 12 to 60 months with flexible payment options.

Dhanlaxmi Bank Personal Loan Interest Rate

The interest rate depends on the MCLR (Marginal Cost of Funds Based Lending Rate) of the bank, which are currently (as on 01.07.2019) as follows:

Tenor MCLR



One month


Three months


Six months


One year


Eligibility Criteria for Dhanlaxmi Bank Personal Loan

For availing Dhanlaxmi Bank Personal Loan, you have to meet the following eligibility criteria:

For salaried applicants:

  • Profile: The bank gives Personal Loan to salaried applicants working with the state or central government institutions. Permanent employees of a reputed firm which is profit making in nature can also apply for the loan.
  • Age: Applicants must be above 23 years of age
  • Income: They must have a minimum monthly income of 35,000 per month
  • Work experience: A minimum of at least 2 years of work experience is required

For self-employed applicants:

  • Profile: The bank gives Personal Loan to Self-employed professionals as well as self-employed, non-professionals making a profit in their business/ proprietorship firm/ partnership firm/ private limited company.
  • Age: Applicants must be above 23 years of age
  • Income: They must have a minimum income of 1,80,000 per annum
  • Work experience: Self-employed professionals must have at least 3 years of work experience, while self-employed non-professionals must have a minimum of 5 years experience with minimum of 4 years in their current venture.

Documents Required for Dhanlaxmi Bank Personal Loan

Documents for Salaried Borrowers:

Identity proof

Any one of the following documents:

  • PAN Card
  • Passport
  • Driving License
  • Employee ID Card issued by Government/ Defence/ PSU/ Reputed MNC/ Public Limited Company.
  • Certificate of practice issued by professional bodies such as ICAI/ ICWAI/ ICFA/ ICSI (if it has the photo of the applicant on the certificate).
  • Bank passbook (only of scheduled commercial Banks) with the applicant's attested photograph and signature.
  • Defense ID

Residence Proof:

Any one of the following documents:

  • Passport (if the address on the passport is the same as provided by the applicant)
  • Receipt of life insurance premium (minimum 12 months in force) of any insurer
  • Voter ID Card
  • Driving license
  • Latest Telephone bill not older than 3 months
  • Postpaid bill of piped gas connection showing consumption detail and complete address
  • Bank passbook/ latest bank account statement with the full address which matches with the loan application form).
  • Electricity Bill (with complete address of the account holder) - not older than 3 months
  • Receipt of co-operative housing society
  • Postpaid mobile bill showing applicant's complete residence address
  • Notarised registered rent agreement along with the latest electricity bill which is issued to the landlord.

Age proof

Any one of the following documents:

  • School leaving certificate
  • Birth certificate
  • College certificate
  • LIC policy (should be minimum 12 months in force)
  • Passport
  • PAN Card
  • Driving License

Signature verification

Any one of the following documents:

  • PAN Card
  • Driving License
  • Bankers verification (of only Scheduled Commercial Bank)
  • A Government ID card for government employees
  • Copy of registered sale deed with photo and signature

Continuity proof

Any one of the following documents:

  • Form 16
  • Letter from HR authorized Signatory
  • Appointment Letter
  • Income proof: Latest 3 pay slips with bank statement of 6 months of salary account

Documentation for self-employed individuals (main applicant and co-applicant):

Identity proof

Any one of the following documents:

  • Passport
  • Voter ID Card
  • Driving License
  • Passport
  • Photo Debit Card
  • Photo Ration Card
  • Defense ID Card
  • Current Photo Credit Card (at least 3 months old)
  • Passbook with a stamp on applicant's photograph with applicant's signature/ Banker's verification.
  • Employee ID Card (PSUs/ MNCs/ Public Limited companies/ Other Government companies.

Residence proof

Any one of the following documents:

  • Ration Card
  • Electricity or Telephone Bill (not older than 3 months)
  • Driving License
  • Leave & license agreement (in case the applicant is living on rent)
  • Bank passbook or latest bank statement
  • Telephone bill
  • Postpaid bill of piped gas connection showing consumption detail and complete address
  • Voter ID Card
  • Ration Card
  • Passport
  • Postpaid mobile bill
  • Sale agreement copy if the current residence is self-owned
  • Receipt of Life Insurance premium (with a minimum 12 month period of existence)
  • Receipt of Cooperative Housing Society
  • Credit Card's front copy and latest card statement
  • Municipality Water Bill
  • Property Tax Receipt
  • Municipal Tax Receipt
  • Office Identity Card showing the address (PSUs/ MNCs/ Public Limited companies/ other).
  • All credit card statements and utility bills should not be older than 3 months

Documentation for non-individuals (Proprietorship Firms / Partnership Firms / Companies)

Proof of legal existence & registered office address

Any one of the following documents:

  • Certificate for VAT/ Service Tax Registration
  • Latest bank account statement in the Entity's name with full address
  • For partnership firms: Certificate of Registration/ Partnership Deed from Registrar of firms.
  • For Companies: MOA/ AOA with Certificate of Incorporation
  • PAN Card of partnership firm/ companies as proof of the existence
  • Certificate for Shop & Establishment
  • Certificate for Factory Registration
  • Certificate for SSI Registration
  • Importer - Exporter Code Certificate

Proof of operating address

Any one of the following documents:

  • Leave & license agreement in the name of the applying entity
  • Latest bank account statement in the name of the applying entity, bearing the address of the entity. The banker also needs to verify the authorised signatory of the entity.
  • For self proprietorship: Proof of the operating address in the individual's name along with the office address.
  • Telephone/ electricity bill in the name of the entity
  • IT Assessment Order
  • Acknowledged ITR of the entity
  • PAN intimation order

Signature verification proof of entity's authorised signatory

Any one of the following documents:

  • ECS mandate with authorised signatory's signature & stamp of the entity. The bank should duly verify and acknowledge the stamp and signature before sanctioning the loan.
  • Clearance of an initial payment cheque bearing an amount equal to the decided EMI
  • For companies with authorised General Power of Attorney Holder (GPA) for signing the PDCs, the GPA should carry details of the authorised signatories along with their name and of the branch.
  • Documents stating the authorised signatories of the entity submitted at the time of loan application and banker's verification of the Entity's PDC issuing authorised
  • Banker's verification of the entity's authorised signatory from where the post-dated cheques are issued.

Documentation for SENP/SEP

  • Previous 2 years' Income Tax Return files along with audited balance sheet and Profit & Loss account of the applying entity
  • Certificate of incorporation (mandatory for proprietorship firms)
  • Recent bank statements of business (not older than 12 months)
  • Academic & Professional qualifications of all the professionals

Irrespective of the nature of business or job profile, all loan applicants must provide a bank verification certificate.

Why Apply for Dhanlaxmi Bank Personal Loan through MyMoneyMantra?

Different banks have different Personal Loan schemes. Their interest rates, loan period, and terms all vary. It is only natural for a consumer to get confused while deciding which bank is best. This is where applying through MyMoneyMantra can be very helpful.

  • Our team does the entire research on your behalf and spends time to figure out which product will work best to suit your needs, thus offering a customised solution.
  • All information is compiled on a single screen to make sure there is minimal confusion and everything remains simple and understandable for you.
  • We help you find products you are eligible for based on your income and other factors.
  • We help you compare an array of products from different banks and across different parameters such as loan tenure, processing fee, interest rates, and loan amount to come to the best conclusion.
  • With MyMoneyMantra, the documentation process is always easy, simplified, and well assisted.
  • Our experts also offer personalised advice based on your credit score and past investment history.
  • The MyMoneyMantra experts also explain all clauses in fine print so that you can make well-informed decisions.
  • MyMoneyMantra experts will help you right from the selection of the right product, through the application process and down to the disbursement of the loan.

How to Apply for Dhanlaxmi Bank Personal Loan through MyMoneyMantra?

Follow the process mentioned below to apply for the Dhanlaxmi Bank Personal Loan through MyMoneyMantra:

  • When you reach the Personal Loan page that is given under Loans section, specify in the form if you are a salaried individual or self-employed.
  • Fill in details such as your name, city of residence, and so on
  • Provide details of current employer and net income
  • Fill in how much loan amount do you require
  • Enter your mobile number
  • Enter the OTP received and click on the Submit button to be contacted by our Personal Loan experts.

Other Products by Dhanlaxmi Bank

In addition to the Personal Loan, the bank also offers the following products and services:

Home Loan

Loan Against Property

Commercial Property Loan

Lease Rental Discounting

New Car Loans

Used Car Loans

Commercial Vehicle Loan

Construction Equipment Loan

Loan Against Securities

Gold Loan

Education Loan

Business Loan

Savings Account

Current Account

Term Deposits

Gold Credit Card

Platinum Credit Card

Debit Card

Gift Card


Locker Facilities

Forex Services

Online Services

Depository Services

Mobile Banking

Cash Management Services

Corporate Credit Card

Corporate Salary Account

Forex & Trade Services

NRI Banking

Micro & Agri Banking

SME Banking

Financial Planning

Dhanlaxmi Bank Personal Loans - Processing Fee and Other Charges

Here are the processing fee and other charges that are associated with Dhanlaxmi Bank Personal Loan:

Charges Salaried Self Employed

Processing fee

Up to 2.5% of the loan amount (minimum of 1,250)

Up to 2.5% of the loan amount (minimum of 1,250)

Solvency certificate



Late EMI payment charges

@36 % p.a on the outstanding amount from the default date

@36 % p.a on the outstanding amount from the default date

Prepayment charges

2% of the principal outstanding + applicable tax

2% of the principal outstanding + applicable tax

Insurance fee



No Objection Certificate (NOC)/ No Due Certificate



Duplicate NOC/ No Due Certificate



Charges for the change EMI cycle



Charges for cheque swapping

500 + applicable tax per event

500 + applicable tax per event

Loan cancellation charges

1,000 + applicable tax

1,000 + applicable tax

Charges for cheque bounce

500 + applicable tax per cheque

500 + applicable tax per cheque

Charges for foreclosure statement

200 + applicable tax

200 + applicable tax

Customer Credit Information Report


Individual: 200 
Non Individual: 750

Stamp duty and other statutory charges

Applicable as per state laws

Applicable as per state laws

PLRTA Premium

As Applicable

As Applicable

Legal /incidental charge

At actual

At actual

Charges for credit assessment



Charges for non standard repayment



How to Calculate Dhanlaxmi Bank Personal Loan EMI?

MyMoneyMantra has an online Personal Loan EMI Calculator tool that helps a loan applicant know exactly how much amount they have to pay monthly to service the loan of the desired amount for particular loan tenure. Estimation of (equated monthly instalment) EMI helps a person plan expenses accordingly to pay EMIs in time and in full.

The EMI Calculator uses the loan amount, interest rate, and loan tenure as inputs to calculate the exact EMI. Any EMI has two components - the principal repayment component and the interest component. During the initial days of servicing a Personal Loan, the interest component is very high. However, gradually the interest component reduces and the principal repayment component increases.

Paying Dhanlaxmi Bank Personal Loan EMI

Any of the following three ways can be used to repay a Personal Loan from Dhanlaxmi Bank:

  • Standing Instruction (SI): This is the most followed and the best method of paying EMIs on time and in full. An existing account holder at Dhanlaxmi Bank can set a Standing Instruction mandating automatic debit of a fixed EMI amount on a specified fixed date every month from a bank account.
  • Electronic Clearing Service (ECS): For a borrower who is not a Dhanlaxmi Bank account, Electronic Clearing Service or popularly called ECS is the best way to debit a fixed EMI from non-Dhanlaxmi Bank account on a specified date every month.
  • Post-dated Cheques (PDCs): In case of non-ECS locations, Dhanlaxmi Bank accepts post-dated EMI cheques.

Since Post Dated Cheques are prone to errors and mistakes, it is strongly recommended that a borrower use the ECS or SI option.

Dhanlaxmi Bank - Customer Care

In case of any queries regarding Dhanlaxmi Bank Personal Loan - be it application process, eligibility criteria, loan approval or loan dispersal can be obtained through Dhanlaxmi Bank Personal Loan contact at the following Customer Care toll-free number:

1800 425 1747

Registered & Head Office

Dhanlaxmi Bank Ltd.,

Dhanalakshmi Buildings,

Naickanal, Thrissur - 680 001


Phone: 91-487-6617000

Fax: 91-487-6617222

FAQs on Dhanlaxmi Bank Personal Loan

I have a requirement for an additional loan on my Personal Loan amount. Does Dhanlaxmi Bank allow me to increase my loan amount?

Yes, Dhanlaxmi Bank has an option to provide top-up Personal Loans to certain eligible borrowers. To be eligible for such top-up Personal Loans however, the borrower has to pay EMIs regularly without fail and must have a very good credit history.

Does Dhanlaxmi Bank provide a Personal Loan quickly?

If a borrower needs Personal Loan from Dhanlaxmi Bank fast, before applying for a Personal Loan, one has to check with the Personal Loan eligibility and see whether the applicant is eligible for the loan. The borrower can visit MyMoneyMantra website and then apply for a loan online for faster disbursement.

Does Dhanlaxmi Bank treat all borrowers equally in terms of eligibility criteria?

Though Dhanlaxmi Bank has eligibility criteria for Personal Loans, there are times when the bank could vary the eligibility criteria based on past or existing relationship with a borrower or depending on a case-to-case basis.

What are the Personal Loan amounts offered by Dhanlaxmi Banks?

Dhanlaxmi Bank offers a loan amount of 1 Lakh to 15 Lakhs to salaried employees while the bank offers a loan amount of 3 Lakhs to 15 Lakhs for self-employed individuals subject to eligibility and repayment capacity.

What are the loan tenures for Personal Loans by Dhanlaxmi Bank?

Dhanlaxmi Bank offers Personal Loans with flexible loan tenures of 12 to 60 months.

Does Dhanlaxmi Bank charge any processing fee for a Personal Loan?

Yes, Dhanlaxmi Bank charges a processing fee to all Personal Loans. The processing fee is up to 2.5% of the loan amount sanctioned, a minimum of 1,250.

Does Dhanlaxmi Bank Personal Loans have any other charges?

Dhanlaxmi Bank has some other charges for some services sought by a borrower. The bank thoroughly explains these charges to a borrower during the time of granting disbursement. Some such charges are late/ delayed EMI charges, cheque bouncing fees, insurance, prepayment charges, issuance of various certificates like No Objection or no due certificates, stamp duty and other statutory charges,

Does Dhanlaxmi Bank provide Credit Information report?

Since Dhanlaxmi Bank analyses the credit information from relevant authorities to decide loan eligibility amount, the bank already has in place, a credit information report. A salaried employee or a self-employed individual who has submitted an application for loan processing can access the Credit Information report for a fee of 200. A company or an entity that has applied for a loan from Dhanlaxmi Bank can access the credit information report after payment of 750 to the bank.

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