Dena Bank Personal Loan: Banks can provide personal loans to cover a wider range of obligations for clients. However, a personal loan is the most fundamental category of loan that the bank may issue to anyone, and Dena Bank Personal loan interest rate makes it quite a good deal.
Dena Bank has its headquarters in the state of Mumbai and is one of the leading banks for financial services; and it has over 1773 branches across India. It provides a range of services introduction to the customers, and also just like this service, Dena Bank personal loan contact number is always open to address your queries.
Different banks have different facilities; in this article, we will be discussing Dena Bank personal loans. One of the most different features of the loans that differentiate the banks is the rate of interest they provide.
This is the difference between the check Dena Bank personal loan interest rate 2020 and the difference this year. To help you with a piece of detailed information, this article will guide you through the interest and benefits of taking a loan.
Want to compare Dena Bank Personal Loan with other bank personal loans for lowest interest rates and extra offerings? Just keep an eye on our Complete Guide on Personal Loan & choose the suitable bank to apply for the loan.
Dena Bank
- What is a personal loan?
- What are the reasons to apply for a personal loan?
- Why choose Dena bank personal loan?
- Features and process of Dena bank personal loan
- What are the other loans provided by Dena bank?
What is a Personal Loan?
A personal loan amount is provided by a bank based on someone’s employment history and other credentials to borrow the money for personal use like for vehicles, houses, etc. and then pay back to the Bank. Banks generate loans to help people with economic necessities, which are mostly unsecured.
Personal loans are used to fulfill humans’ uncertain or leisure activities like vacation, medical emergencies, education, house, etc. These kinds of expenses are covered by the bank with flexible interest rates. These kinds of loans require no less security to borrow money and use for basic needs.
What are the Reasons to Apply for a Personal Loan?
Unlike the other loans given from banks, personal loans require no to less clearance protocol. In addition, personal Loan online and offline services are accessible from different banking institutions. The loan amount is granted within the next few hours if the lender is comfortable and confident in your potential to pay back the amount.
It can quickly cover many uncertain and planned activities, especially for places you don’t have enough cash to support. Also, the flexibility the banks provide makes it even more, apply to use banking facilities like a personal loan.13
Why choose Dena Bank Personal Loan?
There are many banks, or there are installations of the banks that provide personal advantages. There are a few reasons to choose Dena Bank personal loan: First, the bank takes the same interest throughout the loan duration.
- Faster processing as simple documentation work is only required.
- The bank imposes no restrictions on the usage of the loan.
- There are flexible modes of repayments other than EMI
- The convenience gives minimal paperwork and time.
- Easy access to the official website without having to visit the branch every time.
- Helps cover medical expenses, vacations, education etc.
Features and Process of Dena Bank Personal Loan
Now that we know, Dena Bank provides you with personal loan features that will help you understand them in detail.
- Dena Bank gives personal loans to professionals for two people who draw a regular monthly income.
- The loan amount- can be from rupees 15000 to 100000; you can grant the total amount of the bank loan is based on the criteria given below.
- For repayment in one year, three times the monthly salary can be granted that should not exceed 1 lakh.
- For repayment in two years, six times the monthly salary is granted.
- For repayment in three years, nine times the monthly salary is granted.
- Interest Rates- the interest rates can shuffle our vary, based on current rates prevailing at the bank.
- The interest rate is 13.00% to 14.00%, which changed on schemes and as per individuals. Every year there are some changes, so keep updated with the Dena bank official website.
- Repayment of the loan– the processing fee is 1% of the loan amount. The payment can be made in three ways, firstly, standing instruction for an existing account holder of Dena Bank where the amount is automatically debited on a monthly cycle as specified. Secondly, an electronic clearing service where a non-Dena Bank account holder applies, the money gets debited in a monthly cycle. Lastly, you can drop postdated checks; a new set has to be generated every time. The repayment of the loan exceeds a period of a maximum of 36 EMIs.
- Restrictions or exceptions- there are no restrictions on the do not have to have any collateral pledge in the Dena Bank personal loan, loans granted by the employer, and any other loan subject monthly take of a minimum of ten thousand rupees. In addition, other income sources like rents, interest, dividends and others are also taken into account to calculate the quantum of the loan.
- Eligibility criteria- their eligibility criteria may differ from candidate to candidate, but you can be different, prefer it offline or just check it on the website. The few main criteria are
- the candidate should meet the age requirement and have all the necessary identity proof, with age from 24-55 years and a sound citizen.
- the candidate’s income must be at least Rs.15,000, working with a minimum of two years of work experience at a government or private company.
- the candidate taking the known requirement for the credit score and should not be a negative customer or be under too many debts.
- Documents required- after a person is eligible for the loan, they need to have some specific documents.
- application form duly signed with photograph
- copy of identity proof that is a passport, voter id card or any other
- Processing fee cheque
- bank statement or passbook for the last six months
- certified salary with the latest salary slip for salaried person and latest ITR and latest bank statement for self-employed.
What are the other Loans Provided by Dena bank?
Dena Bank provides different personal loans to cover specific interests, all tenses like weddings and buying a house more. Unlike other banks is included in the same category, like even for buying vehicles getting registered at a place.
But one of the most significant loans that this bank provides is the Dena Bank education loan that is for lower-income families who want to pursue higher studies aur invest in any other kind of education facility.
FAQ’s on Dena Bank Personal Loan
Question 1.
Why is Dena Bank personal loan popular?
Answer:
The Dena Bank personal loan is mostly called the Dena Suvidha loan and has its main objective to help people fulfil their life desire requirements that you cannot do with dinner for a short period with fast cash in hand.
Question 2.
Are there any payment charges for Dena Bank personal loan?
Answer:
To be specific, there are no payment charges on making the repayment till the time it is under the limit of your period. But not to skip, there is 1% of the loan amount charged from the candidates by the bank as a processing fee.