Dombivli Nagari Sahakari Bank Personal Loan: A bank loan is a major part of citizenship. Personal loans are important for all people, regarding many sorts of investments like purchasing electronic gadgets, or for starting a business, sometimes for home loans, or for investing in children’s education.
People, who suffer from undergoing economical crunches, can get a lot of facilities, provided by Dombivli Nagari Sahakari Bank under several schemes. The schemes are designed masterfully, so that needy man can get help easily, on various occasions mentioned earlier.
Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.
This content will explore some crucial matters including loan calculation of this bank, the interest rate of purchasing motorcycle and Dombivli Nagari Sahakari bank rate of interest for other purposes.
Dombivli Nagari Sahakari Bank
- Schemes of Personal Loans Given by Dombivli Nagari Sahakari Bank
- Subidha Loan Scheme provided by Dombivli Nagari Sahakari Bank
- Documents needed for loan application
- All about the Rate of Interest
- EMI Calculation for Dombivli Nagar Sahakari Bank’s Personal Loan
- More About Dombivli Nagari Sahakari Bank’s Personal Loan Details
Schemes of Personal Loans Given by Dombivli Nagari Sahakari Bank
Utsav Loan Scheme provided by DNS Bank
- Purpose- In this scheme, a personal loan is given to individuals for purchasing electronic gadgets like television, refrigerator, air-conditioner, microwave oven, pc, water heater and all consumer durable items including a motorcycle.
- Eligibility- The consumer has been employed by a govt. or non-govt. job, or must be a self-employed person. This is all that the eligibility criteria need.
- Loan limit- One can lend the maximum amount of Rupee 1lacs according to Indian currency.
- Minimum Net Salary- It is as mentioned by the bank’s criteria.
- Citizenship- The individual must be a citizen of India and should live in the country.
- Age- This criterion will be mentioned by the Dombivli Nagari Sahakari bank itself.
- Repayment schedule- The consumer must repay the loan he has taken within thirty-six months.
- Guarantors- There should be two guarantors with the consumer if he cannot repay the money within time. This is absolutely necessary for the scheme.
- Security- The security the bank will provide under this scheme, is the hypothecation of the purchased article.
Subidha Loan Scheme provided by Dombivli Nagari Sahakari Bank
- Purpose- This loan is provided on the purpose of repaying old debts, in some ceremonial purposes, like opening a new business, or for children’s marriage or education, for medical expenses, for tourism loans and etc. There may be other reasons and certainly those would be acceptable to the bank acceptable to the bank.
- Eligibility- Any individual can have the opportunity to have this bank loan. Indian citizenship is necessary.
- Loan Limit- This scheme will provide the maximum amount of Rupees 5 lacs according to the Indian currency.
- Minimum Net Salary- This amount would be set by the bank itself.
- Citizenship- The consumer must be a residential citizen of India.
- Age- This criteria would also be set by the bank itself.
- Repayment Schedule- The amount must be repaid within sixty months maximum under this scheme of personal loan.
- Guarantors- There should be two guarantors minimum in case the borrower fails to repay the money within the given time.
- Security- The security provided by this scheme is a Group Insurance in the name of the borrower/co-borrower. The amount is equivalent to the loan amount.
Documents Required for Dombivli Nagari Sahakari Bank Personal Loan Application
- KYC Documents
- Income papers like, for business person copy of latest ITR (if ITR of year 2019-20 is unavailable, ITR of 2018-19vcan also be provided), and for salaried individuals, copies of latest three months salary slip is to needed.
- If the borrower cannot fill the ITR, then s/he must submit the declaration of his/her income.
- Proof of address like, voter card, passport, Aadhar card, Ration card etc are to be needed.
- As a document of age, one needs to submit his/her birth certificate.
- As an identity proof, one needs to submit voter card, Aadhar card, Ration card and etc.
- And the borrower’s passport size photograph is also needed.
- The borrower absolutely must be a resident citizen of India.
All about the Rate of Interest
For the case of Utsav Loan Scheme, the rate interest for both sexes is 11.95%. And for the case of Subidha Loan Scheme, the rate of interest is also 11.95% for applicant of both sexes. It is quiet convenient for men and women to take the privilege of borrowing money under the schemes of Utsav Loan Scheme and Subidha Loan Scheme.
EMI Calculation for Dombivli Nagar Sahakari Bank’s Personal Loan
The calculation procedure may be easily understandable if there is an example. Let’s imagine that a person lends the amount of Rs.50,000 at an interest rate of 10% p.a. for a tenure of 1 year. The processing fee is 1% of the loan is availed by the customer. For the repayment scale of twelve months, with the addition of processing fee, rate of interest over the principal amount, that person will have to pay Rs.4,395.
More About Dombivli Nagari Sahakari Bank’s Personal Loan Details
- The processing fee is Rs.500, as per the previously mentioned in the columns.
- There may be some other foreclosure charges would be mentioned by the bank itself. One must prepare him/herself on that account, on borrowing money.
- There must be two guarantors with the borrower, in case it is not repaid. So, their details are also very necessary and crucially important.
- The loan amount would be received by the borrower in his/her bank account that had been mentioned in the loan application form.
- The applicant can apply from a nearest branch of Dombivli Nagari Sahakari bank, or from the branch where the person holds a valid account.
- Security terms are as they are previously mentioned.
- A GST rate of 18% will be applicable on banking services and product is applicable from 01 July, 2017. So, for this purpose, it also would be applicable.
- The rate of interest is 11.95% for both sexes, and both both schemes of having personal loan under Dombivli Nagari Sahakari Bank.
- The borrower must be a residential citizen of India.
- The documents are necessarily to be submitted as a proof and record of identity and address. Aadhar card, voter card, birth certificate, passport, ration card and passport size photos are absolutely necessary.
- The terms and conditions regarding the salary of the borrower would be mentioned by the Dombivli Nagar Sahakari Bank itself.
So, Dombivli Nagari Sahakari Bank offers personal loans with attractive interests. It can be helpful to consumers a lot, for health, ceremonial, educational and other purposes like to be free of debts, and purchasing some new gadgets essential for household and daily city life.
So, this article may successfully serve the work of attracting people to have the opportunity to have the privilege of this outstandingly interesting and attractive scheme.
So, the citizens of India who now undergo much economic turmoil due to the pandemic and other reasons may try out through these schemes of personal loans. After all, the bank serves citizens with lots of convenient ways to reach out economical stability.
The schemes are under security services, so people can avail themselves of those trustfully without hesitations. After all, being freed from loan debts is moving towards a secure future.