DBS Bank Personal Loan Details

Rate of interest10.99% - 34%
Minimum loan amountRs. 20,000
Maximum loan amountRs. 15 Lakhs
Tenure1 to 5 years
Processing fee1% - 3% of loan amount + GST
Minimum take home incomeRs. 20,000 per month
Foreclosure charges2% - 4.5% of the outstanding principal + GST
Age required22 to 60 years
Lowest EMI/LakhRs. 2,174

Features of DBS Bank Personal Loan

Features of DBS Bank Personal Loan are:

  • The application process is 100% digital and paperless.
  •  Interest rates are competitive and remain unchanged throughout the tenure.
  •  Flexible loan repayment tenures of 12 to 60 months.
  • You can manage the loan through app.
  • Instant disbursal is available for pre-approved loans for eligible digiSavings customers.
  • Get instant paperless Personal Loans of Rs. 25,000 to up to Rs. 15 Lakhs.
  • Foreclosure is allowed at charges of 2% to 4% of the outstanding principal + GST.
  • Processing fees vary between 1% and 3% of loan amount + GST.

Why Apply for DBS Bank Personal Loan?

Digibank Personal Loans are beneficial because:

  • Instant eligibility check.
  • DBS Bank Personal Loan is instant, paperless, and hassle-free.
  • They do not require any physical documents.
  • They do not require any paper-based application form.
  • Easy loan repayment options.
  • You can apply easily through the digibank app. No need to visit the DBS branch.
  • You can deposit, withdraw, and transfer funds in lightning speed.
  • Applying through digibank app saves your time, energy, and money.

DBS Bank Personal Loan EMI Calculation

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

Amortization Schedule

YearOpening Balance

Amount Paid by

customer (EMI*12)

Interest Paid During

the Year

Principal Paid During

the Year

Closing Balance
1Rs. 5,00,000Rs. 65,212Rs. 26,600Rs. 38,612Rs. 4,61,388
2Rs. 4,61,388Rs. 1,30,425Rs. 46,566Rs. 83,859Rs. 3,77,529
3Rs. 3,77,529Rs. 1,30,425Rs. 36,871Rs. 93,553Rs. 2,83,976
4Rs. 2,83,976Rs. 1,30,425Rs. 26,056Rs. 1,04,369Rs. 1,79,607
5Rs. 1,79,607Rs. 1,30,425Rs. 13,990Rs. 1,16,435Rs. 63,172
6Rs. 63,172Rs. 65,212Rs. 2,040Rs. 63,172Rs. 0

Comparison of DBS Bank Personal Loan VS Other Providers

Name of LenderRate of Interest (per annum)Processing FeeMaximum Loan Limit
DBS Bank10.99% - 34%1% to 3% + GSTRs. 15 Lakhs
Deutsche Bank9.99% - 11.49%Up to 2%Rs. 15 Lakhs
HDFC Bank10.50% - 21%Up to 2.50%Rs. 40 Lakhs
Canara Bank11.25% - 13.90%0.50%  + GSTRs. 3 Lakhs
ICICI Bank10.50% - 19%Up to 2.25%Rs. 25 Lakhs

DBS Bank Personal Loan Documents Required

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.

DBS Bank Personal Loan Eligibility Criteria

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 eligibility criteria are as mentioned below:

  • Minimum age required: 22 years at the time of loan application.
  • Maximum age required: 60 years at the time of loan maturity.
  • Occupation: Salaried or Self-employed.
  • Minimum income required: Rs. 20,000 per month.
  • Years in current profession: Minimum 2 years.

DBS Bank Personal Loan Processing Fees & Other Charges

Following are the charges involved in availing the digibank personal loan:

  •  Processing fee: 3% of the sanctioned loan amount + applicable GST (non-refundable).
  • Part/full prepayment charges:

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.

  • Penal interest rate: 24% p.a., i.e., 2% p.m. on the overdue instalment.
  • Loan cancellation charges: Nil in the free look period of 2 days under the disbursal of the loan. After this period, cancellation is not allowed.
  • Standing Instruction (SI) dishonor charges: Rs. 600 per instance + applicable GST.

How to Apply for DBS Bank Personal Loan?

It is very easy to apply for DBS Personal Loan through digibank Personal Loan: 

For existing digibank users:

  • Check eligibility instantly.
  • Login to your digiSavings Account using the downloaded digibank mobile app on your smartphone.
  • Log in and go to the "Loans" section in the navigation menu to apply.
  • Complete the KYC.
  • Get the loan amount credited to your account.

For new to digibank users:

  • Check eligibility instantly.
  • Download the digibank app on your smartphone.
  • Open the app and click on the link "Get Personal Loan" on the login page to signup and apply.
  • Complete the KYC.
  • Get the loan amount credited to your account.

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DBS Bank Personal Loan FAQs

How much minimum loan amount can I get?

You can get a minimum of Rs. 20,000 as Personal Loan.

What is the maximum loan amount limit?

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.

How much it takes to complete my Personal Loan application?

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.

What is the EMI start date for DBS Bank Personal Loan?

  • For loans disbursed between 1st - 19th of the month: EMI repayment starts from 6th of the next month.
  • For loans disbursed between 20th to end of the month: EMI repayment starts from 10th of the next month.

What is the repayment tenure for the loan?

The repayment tenure varies from 12 months to 60 months.

What is the minimum age required to avail the loan:

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.

What should be my income to avail the loan?

The minimum income of the applicant must be Rs. 20,000 per month to avail this loan.

What documentation is required for the 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.

Why should I avail digibank Personal Loan?

These are paperless, hassle-free, and instant. You can apply at your convenience using the digibank app. No need to visit a DBS branch.