Dhanlaxmi Bank Personal Loan Details

Rate of interest12.90%
Minimum loan amountRs. 1 Lakh
Maximum loan amountRs. 15 Lakhs
Tenure12 to 60 months
Processing feeUp to 2.5% of the loan amount
Minimum incomeRs. 35,000 per month
Prepayment charges2% of the principal outstanding + taxes
Age requiredAt least 23 years
Lowest EMI/LakhRs. 2,219

Features of Dhanlaxmi Bank Personal Loan

The key features of Dhanlaxmi Bank Personal Loan are:

  • Purpose: 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 for all: Personal Loans for salaried employees as well as self-employed individuals.
  • Loan amount: Depending on eligibility and requirement, Dhanlaxmi Bank offers Personal Loan between Rs. 1 Lakh to Rs. 15 Lakhs for salaried employees. In the case of self-employed borrowers, the Personal Loan amount can vary from an amount of Rs. 3 Lakhs to a maximum of Rs. 15 Lakhs.
  • Flexible tenure: Dhanlaxmi Bank offers Personal Loans with tenures in the range of 12 to 60 months with flexible payment options.
  • Affordable rate of interest: Dhanlaxmi Bank personal interest rates starts from 12.90% p.a., depending on the rating of the borrower, tenure of repayment and borrower’s repayment capability.

Why Apply for 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 a 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.

Dhanlaxmi Bank Personal Loan Interest Rate

Below are the DBS personal loan interest rates as of 29.09.2022:

RatingTenure and Applicable Interest Rate (per annum)
Above 6 months – 1 yearAbove 1 year – 2 yearsAbove 2 years – 3 yearsAbove 3 years – 5 years

Complete Amortization Schedule

YearOpening Balance

Amount Paid by


Interest paid during

the year

Principal paid during

the year

Closing Balance
1Rs. 10,00,000Rs. 1,33,164Rs. 57,649Rs. 75,514Rs. 9,24,486
2Rs. 9,24,486Rs. 2,66,327Rs. 1,01,200Rs. 1,65,127Rs. 7,59,358
3Rs. 7,59,358Rs. 2,66,327Rs. 80,442Rs. 1,85,886Rs. 5,73,473
4Rs. 5,73,473Rs. 2,66,327Rs. 57,074Rs. 2,09,253Rs. 3,64,220
5Rs. 3,64,220Rs. 2,66,327Rs. 30,769Rs. 2,35,558Rs. 1,28,661
6Rs. 1,28,661Rs. 1,33,164Rs. 4,502Rs. 1,28,661Rs. 0

Dhanlaxmi Bank Personal Loan EMI Payment

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 a non-Dhanlaxmi Bank account on a specified date every month.
  • Post-dated Cheques (PDCs): In the 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.

Comparison of Dhanlaxmi Bank Personal Loan VS Other Providers

Name of LenderRate of Interest (per annum)Processing FeeMaximum Loan Limit
Dhanlaxmi Bank12.90%Up to 2.5%Rs. 15 Lakhs
DBS Bank10.99% - 34%1% to 3% + GSTRs. 15 Lakhs
Deutsche Bank9.99% - 11.49%Up to 2%Rs. 15 Lakhs
HDFC Bank10.75%Up to 2.50%Rs. 40 Lakhs
ICICI Bank10.50% - 19%Up to 2.25%Rs. 25 Lakhs

Dhanlaxmi Bank Personal Loan Documents Required

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 the 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
    • Bank statement of 6 months of salary account.

Documentation for Self-employed Individuals:

  • 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.

Dhanlaxmi Bank Personal Loan Eligibility Criteria

For availing of a Personal Loan from Dhanlaxmi Bank, you have to meet the following personal loan 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 Rs. 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 Rs. 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 a minimum of 4 years in their current venture.

Dhanlaxmi Bank Personal Loan Processing Fees & Other Charges

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

Processing feeUp to 2.5% of the loan amount (minimum of Rs. 1,250)
Late EMI payment charges36 % p.a. on the outstanding amount from the default date
Prepayment charges2% of the principal outstanding + applicable tax
Insurance feeRs. 500
No Objection Certificate (NOC)/ No Due CertificateRs. 250
Duplicate NOC/ No Due CertificateRs. 250
Charges for the change EMI cycleRs. 200
Charges for cheque swappingRs. 500 + applicable tax per event
Loan cancellation chargesRs. 1,000 + applicable tax
Charges for cheque bounceRs. 500 + applicable tax per cheque
Charges for foreclosure statementRs. 200 + applicable tax
Customer Credit Information Report

·         Salaried: Rs. 200

·         Individual: Rs. 200 

·         Non Individual: Rs. 750

Stamp duty and other statutory chargesApplicable as per state laws
PLRTA PremiumAs Applicable
Legal /incidental chargeAt actual

How to Apply for Dhanlaxmi Bank Personal Loan?

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

  •  When you reach the Personal Loan page given under the Loans section, fill in all the required details, such as your name, city of residence, current employer, net income, how much loan amount do you require, and so on.
  •  Enter your mobile number.
  • Enter the OTP received and click on the Submit button to be contacted by our Personal Loan experts.
  • Choose the loan option that suits your need from the given options.
  • Our team will contact you to take your application process ahead.

Dhanlaxmi Bank Personal Loan 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:

Registered Office

Dhanlaxmi Bank Ltd.,

Dhanalakshmi Buildings,

Naickanal, Thrissur,

Kerala - 680 001

Phone: 0487-6617142

Corporate Office

Dhanlaxmi Bank Ltd.

Corporate Office,

Punkunnam, Thrissur

Kerala - 680002

Phone: 0487-7107100

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Dhanlaxmi bank Personal Loan FAQs

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 our 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 Rs. 1 Lakh to Rs. 15 Lakhs to salaried employees while the bank offers a loan amount of Rs. 3 Lakhs to Rs. 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 Rs. 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 Rs. 200. A company or an entity that has applied for a loan from Dhanlaxmi Bank can access the credit information report after payment of Rs. 750 to the bank.