DCB Bank Personal Loan | Eligibility, Documents, Highlights, Characteristics, Interest Rate and Fees

DCB Bank Personal Loan | Eligibility, Documents, Highlights, Characteristics, Interest Rate and Fees

DCB Bank Personal Loan: If you are looking for a reputable bank that can fulfill your demands, then you are in the right place as Development Credit Bank (DCB) caters to your various requirements as well provides many term options to choose from.

Before taking a loan it is necessary to know about the eligibility criteria of the bank, calculations of your loan, documents needed for applying for a personal loan in DCB bank, etc.

To know about these in detail, read this article; you will get to know about DCB Bank Personal Loan Calculator, DCB Bank Personal Loan Eligibility, DCB Bank Personal loan apply, documents for applying for a personal loan in DCB bank, DCB, bank personal loan rate of interest, etc.

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.

DCB Bank

About Development Credit Bank (DCB) personal loan

Searching for a reputable bank that can help you achieve all your requirements? Then here, DCB Bank helps people to satisfy their necessities. DCB Bank gives personal loans up to the utmost of 5 lakhs Rs. to paid persons. The loan can be utilized to fulfill various expenses like holidays, medical urgencies, marriages, etc. DCB Bank provides numerous banking properties and aidts to people, small and moderate companies, etc. The personal loan given by the bank comes at an impressive rate of interest and adjustable loan term.

Personal loan eligibility criteria for DCB bank

  • It is necessary to know the criteria before applying for a personal loan.
  • The loan is provided for earning people like people working in private or municipal limited organizations, administration workers, international companies, etc.
  • Self-employed authorities comprising of physicians, designers, corporation secretaries, etc., are also capable.
  • Non-professionals self-employed like dealers, sellers, etc., can also apply for personal loans.
  • Work experience should be a minimum of 3 years for the salaried and self-employed people.
  • To receive a personal loan from DCB bank, one needs to give two references. These references can be from peers or mates, but not from any relatives who are blood-related or citizens living at the same place that is of the same address.
  • DCB bank evaluates the individual’s credit statement, encompassing all earlier loans and repayment lists of all sorts of debt. A greater credit total implies preferable opportunities for your loan request to be accepted. But, an inferior credit record will considerably decrease one’s chance of getting a personal loan.

Criteria for age

  • Individuals need to be at least 25years old at the time of applying for the loan and not above 60years at the time of maturity of the loan.

DCB Bank Personal Loan eligibility Calculator

The personal loan eligibility calculator is a means that explains the loan quantity eligibility for numerous rates of specified interest and loan terms based on the requirement of the person. Receiving a personal loan effortlessly can be complicated, particularly when the person applying is not completely sure about their eligibility. When one needs to apply for a greater amount but does not have a promising credit record, then receiving the needed loan can be hard then this eligibility calculator can be beneficial. Personal loan eligibility can be computed using your monthly earnings, EMIs, and the type of association one is functioning for. It may also need one’s entire job knowledge. Once all these important characteristics are edited, the calculator helps your eligibility for the personal loan quantity you need to apply. It provides you with the utmost personal loan quantity that you can take based on the EMI amount you can provide. The person should check the eligibility before applying for the personal loan by using this loan eligibility calculator, which will also protect one from the rejection of a loan application.

Documents for DCB bank personal loan application

  • Filled up application form along with the signature.
  • Picture
  • Identity proof like Visa, Voter card, PAN card, Aadhar Card, etc.
  • Income evidence- recent income slip displaying all reductions or Form 16 with the current income certificate for salaried people.
  • Income proof – Two previous financial year’s Income Tax Returns for a person other than salaried people.
  • Address proof – Statement of bank account, Electricity bill recently received, Mobile phone recent bill, etc.
  • Statement of bank or Pass Book with last six months entry updated. The latest Form 16 with recently updated income certificates or two incomes slip.

Personal loan highlights of DCB bank

Rate of interest Depending on the profile of the applicant
Amount of loan Up to the amount of Rs. 5 lakh
Range of age needed for being eligible 25 years to 60 years
Loan term Up to 60 months (about five years)
Fees of processing Three percent of loans sanctioned

The interest rate for DCB bank personal loan

DCB Bank gives active personal loan rates of interest that differ from person to person relying on the form and the loan limits. Major elements which may influence the rate of interest related to a personal loan are:

  • Monthly earnings
  • Reimbursement record and credit total
  • Quantity of monthly fixed commitments
  • Credit utilized rate
  • CIBIL Score

Characteristics of DCB bank personal loan

  • The loan amount should positively be a minimum of 1lakh and a maximum of 5lakh.
  • The repayment term is one to five years.
  • Repayment can be made by paying loan EMIs via Electronic Clearance System (ECS), Standing Instruction (SI), National Automated Clearing House (NACH), or Post-Dated Cheques (PDC)s.

DCB bank personal loan approval procedure

The procedure of personal loan assurance commonly includes the succeeding steps:

  • After the lender receives the loan application an officer from the lender will call you to verify the facts of the application form.
  • The bank sends an agent to obtain the necessary records.
  • The application for the loan is confirmed upon the successful assurance of records.
  • Then you need to confirm the loan approval and the loan amount gets paid to your bank fund.

Fees and other expenses of DCB personal loan

  • The processing fee is up to three percent of the loan amount.
  • Check bounce charge is Rs.500per payment.
  • 100 for a single call and Rs. 250 for a single visit made to redeem the dues of the loan is the collective charge applicable in case of defaults.
  • Check swap charge is Rs.500per event.

Significant elements to remember when applying for a personal loan

  • The eligibility measures should be fulfilled.
  • Required documents should be checked and sent.
  • It is crucial to keep a high credit total as it yields more possibility of loan approval.
  • Make sure that your large part of the monthly earnings does not just get used up for fixed obligations like EMIS for ongoing loans etc.

Wrapping up

It is crucial to know the details of the DCB banks personal loans. Hope this helped you in knowing about the documentation, eligibility criteria, and many more things which will surely be needful while applying for a personal loan.

Leave a Comment

Your email address will not be published. Required fields are marked *