|Rate of interest||10.99% - 34%|
|Minimum loan amount||Rs. 20,000|
|Maximum loan amount||Rs. 15 Lakhs|
|Tenure||1 to 5 years|
|Processing fee||1% - 3% of loan amount + GST|
|Minimum take home income||Rs. 20,000 per month|
|Foreclosure charges||2% - 4.5% of the outstanding principal + GST|
|Age required||22 to 60 years|
|Lowest EMI/Lakh||Rs. 2,174|
Features of DBS Bank Personal Loan are:
Digibank Personal Loans are beneficial because:
You can use the MyMoneyMantra Personal Loan EMI Calculator to calcuate DBS Personal Loan EMI. It is very easy to use and proves helpful to get an idea of the amount that has to be made available every month for a certain amount of loan.
By trying various combinations, you can decide on the amount and tenure based on your repayment capacity. The loan parameters like loan amount, tenure and interest rate needs to be provided before you calculate the EMI.
Apart from showing you the exact EMI calculation, the Calculator also provides the complete amortization schedule.
Here’s an example:
Personal loan amount required: Rs. 5 Lakhs
Applicable rate of interest: 10.99% p.a.
Repayment tenure: 5 years
Monthly EMI to be paid: Rs. 10,869
Total interest to be paid: Rs. 1,52,123
Total amount to be paid to the lender: Rs. 6,52,123
Amount Paid by
Interest Paid During
Principal Paid During
|1||Rs. 5,00,000||Rs. 65,212||Rs. 26,600||Rs. 38,612||Rs. 4,61,388|
|2||Rs. 4,61,388||Rs. 1,30,425||Rs. 46,566||Rs. 83,859||Rs. 3,77,529|
|3||Rs. 3,77,529||Rs. 1,30,425||Rs. 36,871||Rs. 93,553||Rs. 2,83,976|
|4||Rs. 2,83,976||Rs. 1,30,425||Rs. 26,056||Rs. 1,04,369||Rs. 1,79,607|
|5||Rs. 1,79,607||Rs. 1,30,425||Rs. 13,990||Rs. 1,16,435||Rs. 63,172|
|6||Rs. 63,172||Rs. 65,212||Rs. 2,040||Rs. 63,172||Rs. 0|
|Name of Lender||Rate of Interest (per annum)||Processing Fee||Maximum Loan Limit|
|DBS Bank||10.99% - 34%||1% to 3% + GST||Rs. 15 Lakhs|
|Deutsche Bank||9.99% - 11.49%||Up to 2%||Rs. 15 Lakhs|
|HDFC Bank||10.50% - 21%||Up to 2.50%||Rs. 40 Lakhs|
|Canara Bank||11.25% - 13.90%||0.50% + GST||Rs. 3 Lakhs|
|ICICI Bank||10.50% - 19%||Up to 2.25%||Rs. 25 Lakhs|
Digibank Personal Loans are completely paperless. You just have to give some of your personal details to apply through the app. In case you require a loan over the approved limit, the bank will need your bank details/ statements that can be uploaded on the app. No additional documents like salary slips, IT returns, etc. are needed.
Before applying for DBS Bank Personal Loan check the loan eligibility to get an idea of the loan quantum that will be sanctioned. The guidelines set by the Bank for qualifying for Personal Loan will have been set and the same has to be checked before approaching the Having bank for. The DBS Bank Personal Loan Eligibility Criteria are as mentioned below:
Following are the charges involved in availing the digibank personal loan:
o 7 - 24 months: 4.50% on the principal outstanding amount + applicable GST.
o 25 - 36 months: 2.50% on the principal outstanding amount + applicable GST.
o After 36 months: 2% on the principal outstanding amount + applicable GST.
o Foreclosure/part prepayment is allowed only after completing 6 months from the disbursement date. Part prepayment is subject to maximum 2 part prepayments in a year.
It is very easy to apply for DBS Personal Loan through digibank Personal Loan:
For existing digibank users:
For new to digibank users:
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You can get a minimum of Rs. 20,000 as Personal Loan.
The maximum loan amount that can be availed under the digibank Personal Loan is up to Rs. 15 Lakhs, depending on your eligibility and loan tenure.
The Personal Loan application process by the bank takes a few minutes to complete. After the application process is completed and your account verification is done, the loan amount will be disbursed to your digiSavings account.
The repayment tenure varies from 12 months to 60 months.
The applicant must be a minimum of 22 years at the time of application and up to a maximum of 60 years at loan maturity.
The minimum income of the applicant must be Rs. 20,000 per month to avail this loan.
Digibank Personal Loans are completely paper-free. Only a few details have to be provided on the app when applying online. If you require a loan amount over the approved limit, the bank will need bank details/ statements of the applicant to be uploaded.
These are paperless, hassle-free, and instant. You can apply at your convenience using the digibank app. No need to visit a DBS branch.