For What Purposes Can You Take DCB Bank Personal Loan?
A personal loan is majorly taken in case of financial crunch. But when you have a multi-purpose loan such as DCB personal loan, you would wish to take it for good times as well. There are many ways to use this loan but it has to be a legitimate purpose. However, only eligible candidates will be able to fulfill their desires with DCB Bank personal loan.
For eligibility, income is the most important factor because unsecured personal loans are given on the basis of repayment capacity which is judged by income. So, to get approval for DCB Bank personal loan, you should match the eligibility criteria set by the bank. Also, not to forget, documents are also very important to submit to the bank. In this article, we have given the details on DCB Bank personal loan. The details we have covered are eligibility criteria, documents required, interest rate, personal loan EMI calculator, application procedure.
DCB Personal Loan Eligibility Criteria ● The maximum amount you can get is Rs.5 Lakh and minimum Rs. 50,000. ● Tenure ranging from 12 months to 48 months. ● Easy documentation and speedy processing
DCB Bank Personal Loan ● Completed loan application Documents ● 3 Passport size photographs ● Statement of Bank Account/ Pass Book for last six months ● Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill) ● Proof of identify (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card) ● IT returns for the three years for self-employed professionals ● Form 16/IT returns for the last two financial years for salaried employees
DCB Bank Personal Loan Interest Rates The interest rate applicable on DCB Bank personal loan is 12% per annum. You can check the effective EMI based on this interest rate to get an idea of the monthly installment to see if you can afford it or not.
DCB Bank Personal Loan EMI Calculator An EMI calculator gives instant result. It requires the loan amount,
tenure and interest rate. Once you mention in these informations, it will show you the effective EMI, total interest outgo and total repayment amount. You can make your decision confidently once you have checked the total repayment amount for DCB personal loan for your required loan amount.
How can you apply for DCB The application procedure for DCB Bank personal loan is very simple and quick. Bank Personal Loan? You can either visit the nearest bank branch or apply online. Both ways you will be getting proper guidance. As mentioned in the beginning, you will have to mention the purpose to the bank while applying for it. Your income, income proof and your credit history will be considered while applying for the loan. If everything is good, you will get the loan. Those who do not have a credit history will be given rate on the basis of their income and age. But those who have a bad credit history might have to face rejection. Lenders approve loans to those who have good income even if they have no credit history but those who have poor credit score (550 or below) might not get approval from any lender. So, if you are planning to get a personal loan from DCB Bank, you may check your credit score and if it is above 750, you will be eligible to get a lower rate of interest.