Deutsche Bank

Deutsche Bank Personal Loan

Years

Apply Deutsche Bank Personal Loan

About Deutsche Bank Personal Loan

Deutsche Bank headquartered in Frankfurt, Germany, is a leader in Germany and Europe. It is a leading global investment bank and is continuously growing in Asia, North America, and emerging markets. Deutsche Bank offers unparalleled financial services throughout the world. It is operating in 70 countries worldwide. It is creating exceptional value for its shareholders by constantly competing to be the leading provider of financial solutions for its clients. Their services include institutional equities broking, wealth management, asset management, retail banking and business process outsourcing and on-shore investment banking.

The first branch of Deutsche Bank in India was established in the year 1980. Now it is operating in 16 cities all over the country. Since then Deutsche has provided an array of products both in the retail and corporate sector to suit its clientele in India. One of the retail products that have earned popularity is Deutsche Bank Personal Loan.

Personal Loans are unsecured loans. These loans are given without insisting for security. Hence, these loans are high risk loans for banks and the interest charged is considerably high. Despite this it is the best option when immediate funds are required for multiple purposes like planning a wedding, travel plans, purchase of appliances, education expenses of children and to meet medical emergencies.

Deutsche Bank Personal Loan Interest Rates -  Dec 2019

Interest rate

24 %

Loan tenure

4 Years

Loan turn around period

1-7 Days

Processing Charges

0.75 % of loan sanctioned + Taxes

Who can apply?

Self-employed professionals

Salaried individuals

Indian residents

Dishonour Charges

750 per instance

Lowest EMI

 3260  Per Lakh

Why Deutsche Bank Personal Loan?

Here are some reasons to opt for Deutsche Bank Personal Loans:

  • Higher loan amount
  • Flexible repayment tenure
  • Easy documentation
  • Quick approval
  • Balance transfer facility available
  • Reasonable processing fee

Features of Deutsche Bank Personal Loans

  • Purpose of loan: Loan can be utilised for multiple purposes like funding family vacation, child's education, purchasing a household appliance, and so on.
  • Quantum of loan: Minimum loan amount available is 50,000 and the maximum amount is 15 Lakhs, depending on the income of the applicant and the location.
  • Interest: Default interest is charged at 24% p.a.
  • Repayment period: Flexible repayment period from 12 months to 48 months.
  • Processing fees: Processing fees is up to 2% of the sanctioned loan amount.
  • Foreclosure: Permitted after 6 months at 5% of the outstanding balance charges.
  • If the applicant is an existing customer or has Deutsche Bank credit card then, the paperwork is less and the loan is processed faster.
  • Interest on daily reducing balance

Deutsche Bank Personal Loan - Rate of Interest

The bank charges a default interest rate of 24% per annum on Personal Loans.

Deutsche Bank Personal Loan Eligibility

Every applicant has to meet the following eligibility criteria for Deutsche Bank Personal Loan:

Age of the applicant

  • Minimum 25 years when applying for the loan
  • Maximum 60 years when the loan matures

Minimum take home income

25,000 per month

Other requirements

  • Telephone numbers of residence and workplace are mandatory
  • Only existing Deutsche Bank customers can apply

Documentation Required for Availing Deutsche Bank Personal Loan

To apply for Deutsche Bank Personal Loan, you will be required to submit the following documents along with the duly completed loan application form:

Documents Accepted Proofs

Photo identity proof

Any one:

  • Passport
  • PAN Card
  • Voter's ID Card
  • Driving License
  • Job card issued by NREGA - must be duly signed by a State Government Officer
  • Aadhaar Card or UIDAI issued Letter

Proof of residence

Any one:

  • Passport
  • Driving License
  • Voter's ID Card
  • Job card issued by NREGA - must be duly signed by a State Government Officer
  • Aadhaar Card or UIDAI issued Letter

Signature proof

Any one:

  • Passport
  • Banker's Certificate
  • PAN Card
  • Driving Licence

Age proof

Any one:

  • Passport
  • Voter's ID Card
  • Birth Certificate
  • PAN Card
  • Driving License
  • Job card issued by NREGA - must be duly signed by a State Government Officer
  • Aadhaar Card or UIDAI issued Letter

Financial documents

  • Last 3 months statements of Deutsche Bank
  • Latest 1 pay slip
  • Last 3 months statements of salary account if salary account is in the Deutsche Bank

Why Apply for Deutsche Bank Personal Loan on MyMoneyMantra?

Applying for a Personal Loan at MyMoneyMantra is a simple and easy process. Here is why:

  • You can instantly check your EMI for the Deutsche Bank Personal Loan using our free EMI Calculator tool.
  • It is possible to fill in your specific requirements and details on MyMoneyMantra to get a customised solution specific to your requirements.
  • Based on your CIBIL score and eligibility you will get customised options within a few hours.
  • Look forward to getting discounted interest rates or great deals when you apply for a personal through MyMoneyMantra.
  • No need to bother much about documentation and processing. Our team of financial experts will guide you through what documents to submit and will help get your loan application processed in minimal turnaround time.
  • You can be rest assured of total privacy throughout the process and your information remains safe with MyMoneyMantra.

How to Apply for Deutsche Bank Personal Loans at MyMoneyMantra?

It is very easy to apply for a Personal Loan via MyMoneyMantra. Here is what you need to do in order to apply:

  • Visit the MyMoneyMantra website.
  • Opt for the Personal Loan option. You will see a form at the top of the page.
  • Enter the loan amount you seek in the relevant space and press enter to proceed.
  • Fill in all your personal information marked as compulsory fields - first name, last name, address, phone number, date of birth, etc.
  • Specify your employment type by mentioning whether you are self-employed or a salaried person.
  • Enter current employer details.
  • Enter your income details, work experience, and specify the name of the bank where you hold your salary account.
  • Select your city of residence.
  • Specify the purpose of taking the Personal Loan.
  • Enter your contact details so that the team from MyMoneyMantra can contact you to guide you through the process of taking the right Personal Loan suitable for your needs.

Other Products by Deutsche Bank

Deutsche Bank also offers the following products and services apart from Personal Loans:

Savings Account Select

Savings Account Infinity

Business Banking

Signature Debit Card

Infinite Debit Card

Navigator Forex Card

Gold Debit Card

Platinum Debit Card

Classic Debit Card

Platinum Business Debit Card

Domestic NRO Gold Debit Card

Fixed Deposit

Resident Fixed Deposit

Tax Saver Fixed Deposit

NRI Fixed Deposit

Senior Citizen Fixed Deposit

Professional Savings Account

Eve Account

Advantage Savings Account

Value Plus Savings Account

Expat Savings Account

Regular and Easy Savings Account

Students Savings Account

Payroll Salary Account

Safe Deposit Lockers

Home Loan

Loan Against Property

Eve Business Loan

Business Instalment Loan

Unsecured Business Loan

Overdraft Against Fixed Deposit

Mutual Funds

db TradePro

db WealthPro

Investment Bonds

Online Demat Account

Non Life Insurance

Life Insurance

Aditya Birla Health Insurance

Max Bupa Health Insurance

NRI Banking

Business Banking

How to Calculate Deutsche Bank Personal Loan EMI?

Deutsche Bank Personal Loan EMI can be calculated using the following formula:

P*r* (1+r)^n/([(1+r)^n]-1)

P = Loan amount

r = Rate of interest per month

n = tenure in month

For easy calculation, you can use the EMI Calculator available on MyMoneyMantra. The Personal Loan EMI Calculator is an online tool, which helps the loan applicant to compute their EMIs accurately in such a way that they can pre-plan their finances. It supports the borrower to calculate the exact amount of EMI that is payable every month towards the repayment of the Personal Loan availed. The Personal Loan EMI Calculator is very easy and hassle-free to use and it uses the three important loan parameters to compute the EMI just like in the formula above.

To calculate the Deutsche Bank Personal Loan EMI, open the EMI Calculator tool, enter the loan amount, interest rate, and tenure of repayment. Click on the Calculate button to get an instant result.

Processing Fee and Other Charges for Deutsche Bank Personal Loan

Deutsche Bank Personal Loan involves the following charges in addition to the interest rate:

Fees or Charges Levied Amount

Processing fee

Up to 2% of the loan amount sanctioned

Prepayment charges

Full prepayment:

  • For floating interest rate loan: Nil
  • For fixed interest rate loan: 5% of the principal outstanding on loan closure
  • Part prepayment is not allowed

Charges for unsuccessful  Standing Instruction for payment or Cheque/ ECS/ NACH bounce

500

Stamp duty/ taxes/ other government levies

As per applicable laws and guidelines

Charges Post Dated Cheques/ NACH/ ECS/ SI swap

500

Deutsche Bank Personal Loan - Customer Care

To apply for a Personal Loan or to get in touch with the bank regarding any query related to Personal Loans:

Send an SMS PL to the number 561615

OR

Call the number 18602666601

Customers outside India can dial: +91 22 6601 6601

Mumbai customers can also call at: +91 22 6601 6601

FAQs - Deutsche Bank Personal Loan

How to apply for Deutsche Bank Personal?

You can apply for Deutsche Bank Personal Loan online or by visiting the nearest branch and submitting the documents. You can also contact their customer care department. Can send SMS to their listed number and the bank representative will contact the customer. Alternatively, you can make use of MyMoneyMantra online lending marketplace to apply conveniently.

What are the maximum and minimum amounts of loans that can be availed?

The minimum loan that can be availed is 50,000 and the maximum can go up to 15 Lakhs, depending on the repayment capacity and the city where the loan is disbursed.

What is the processing fee charged?

The processing fee is up to 2% of the loan amount sanctioned.

What are the documents that have to be submitted while applying for a loan?

You have to submit proofs for photo identity, address, signature, and age along with the loan application form and financial documents.

What security one should provide to avail this Personal Loan?

This is an unsecured loan and no security need be provided to avail this loan.

Who is eligible for Deutsche Bank Personal Loan?

Deutsche Bank offers Personal Loan only to its existing customers.

How can I repay my loan?

You repay the loan in easy EMIs through standing instructions (SI) to debit your Deutsche Bank account with the EMI amount.

How much repayment tenure is available for Deutsche Bank Personal Loan?

You can easily repay your loan over a period of 12 to 48 months.

How long does it take to get my loan?

After successful submission of your loan application along with the supporting documents, the bank gives approval within 7 working days is everything is in order.

Can I prepay the loan?

Yes. You can prepay your loan at applicable pre-payment terms of the bank.

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