DCB Bank Personal Loans have the lowest processing costs, only 2% to 3%. You can use the personal loan for any personal purpose, whether funding your child’s education, paying for a wedding or any other non-commercial purpose. One of DCB’s most significant features is the absolute transparency of processing and fees, which helps you prepare for your future. DCB Personal Loans are available for all salaried individuals at flexible interest rates.
With 400 branches nationwide, DCB Bank is one of India’s leading new generation private sector banks that use modern technology and infrastructure to offer a seamless customer experience. It provides personal loans ranging from ₹1 lakh to ₹30 lakhs depending on the types of loans availed.
The bank offers loans to salaried individuals in Delhi NCR, Greater Noida, and Hyderabad regions. The amount so availed can be utilised for satiating a variety of needs, such as to meet expenses for vacation, debt consolidation, weddings, and medical treatments.
DCB also offers instant pre-approved loans for selected customers via end-to-end digital procedures. Given below are some of the highlights of DCB Bank Personal Loan.
DCB Bank Personal Loan Highlights – May 2022 | |
Interest rate | As per the applicant’s profile and types of loans |
Loan Amount | Up to ₹30 lakhs |
Eligible Applicant Category | Salaried Individuals |
Eligible Applicant Age | 25 to 60 years |
Processing Fees | Up to 90% of the value of the car or up to 75% of the appraised gold value |
Loan Tenure | Up to 7 years |
You can get a plethora of benefits by availing of a DCB Bank Personal Loan. Some of them include:
You must satisfy the following DCB Bank Personal Loan requirements for quick loan approvals and disbursal:
When you avail of a loan, you have to pay certain charges and fees on them. Given below are the DCB Bank Personal Loan fees and charges.
Loan Amount | ₹1 lakh to ₹30 lakh |
Interest Rate (Floating) | 13% – 25% p.a. |
Processing Fees | 2% of loan amount + GST |
Loan Tenure | 1 year to 5 years |
Particulars | Fee |
Loan processing fee/Charges (Non-refundable) | 2% – 3% of the Loan Amount |
Collection Charges | In the event of the Borrower(s) committing default in the repayment of loan dues, the Bank shall levy ‘Collection Charges’ of ₹100 plus applicable taxes per call and ₹250 plus applicable taxes per visit made to recover these dues and the cost(s) thereof will be borne by the Borrower(s). These Collection Charges are subject to change as per the bank’s discretion. |
Prepayment Charges | 5% of Outstanding Principal |
Penal Interest | 36% p.a./3% p.m. of the irregular/overdue amount on account of delay in payment of interest or repayment of principal |
Cheque/ECS Swap Charge | Rs. 500/- per event + applicable taxes |
The following documents will help the bank process your application quickly:
DCB Bank offers competitive personal loan interest rates that vary from one applicant to another, depending on the profile and the desired loan parameters. The interest rate also depends on the type of loan you avail of. For example, the interest rate on a gold loan would be different from the interest rate on a car loan.
The various factors affecting the DCB Bank Personal Loan interest rates are:
DCB Bank lets you repay your personal loan for up to 7 years in easy instalments. You get to choose the loan term depending on your monthly repayment potential and monthly budget.
Pluto Money’s Personal EMI Calculator will help you determine the amount of EMIs you will require so that you can adjust your loan amount and term accordingly.
You need to furnish the required details, such as the loan amount, interest rate, and loan term in the required fields and hit the ‘enter’ button. The result will be displayed on the screen demonstrating the total interest amount payable, monthly EMI to be paid and the total amount payable (principal + interest).
The formula for calculating DCB Bank Personal Loan EMI is:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Where,
To know how DCB Bank compares with other lenders, have a glimpse at the table given below:
Banks/NBFCs | Interest Rates (per annum) & onwards |
DCB Bank | 13.00% |
Tata Capital | 10.99% |
Bajaj Finserv | 13.00% |
Kotak Mahindra Bank | 10.25% |
SBI | 9.60% |
HDFC Bank | 10.25% |
PNB | 7.90% |
ICICI Bank | 10.25% |
Axis Bank | 10.25% |
IDFC First Bank | 10.49% |
IndusInd Bank | 10.49% |
Clix Capital | 14.99% |
For any queries or additional information about DCB Bank Personal Loan, you can contact the DCB Bank’s customer care at 022 6899 7777 or 040 6815 7777.
It takes 3 to 4 days for the bank to review the documents. If it is found valid, your loan will be sanctioned immediately.
You can opt for a term loan with monthly repayment options in the form of EMI.
You can repay your loans using any of the three modes, namely ECS (Electronic Clearance System), Standing Instruction and Post Dated Cheques.
Yes, upon the customer’s request, the loan can be foreclosed, subject to the applicable fees.
DCB Bank offers a wide range of schemes. The LTV depends upon the asset type and customer segment product chosen.
You can avail of the loan for a tenure ranging from 12 months to 84 months. However, the tenure depends upon the product, customer or asset type chosen.
DCB doesn’t ask you to pledge any collateral or securities in turn for a personal loan.