Thinking of availing a Personal Loan to pay off your debts?

Take a look at DCB Bank Personal Loan to consolidate your debts

DCB Bank Personal Loan

This loan scheme helps salaried employees of reputed public and private organisations get funds to meet their personal needs. This loan can be availed to meet expenses such as those for a child’s wedding, domestic and foreign travel, medical emergency, debt consolidation, etc.

Features of DCB Bank Personal Loan

Why this Loan?

  • The DCB Bank Personal Loan is designed to help salaried employees of public limited companies, private limited companies, Central and State Government undertakings, multinational corporations, reputed partnership firms and other individuals receiving regular salary get the needed funds to meet their personal needs
  • Borrowers can also avail this loan scheme to pay off their debts by consolidating them under one scheme
  • This is an unsecured loan, meaning you don’t have to offer any collateral to get the loan

Loan Amount

  • The maximum loan amount offered under this loan scheme is Rs. 5 lakh

Interest

  • The interest rate applicable to this loan is defined as the sum of two factors: one-year Marginal Cost of Funds based Lending Rate (MCLR) and a Spread factor. As of October 2020, the one-year MCLR of DCB Bank is 9.95%. However, the Spread factor applicable to this loan is not mentioned on the bank’s website. We suggest calling the bank customer care number to get the details before applying for this loan

Repayment


  • This loan must be repaid within 5 years. The maximum age of the borrower at the time of maturity of the loan is 60 years

Eligibility

  • The borrower must be at least 25 years old to apply for this loan
  • Salaried employees of Central and State Government undertakings, public limited companies, private limited companies, multinational corporations, reputed partnership firms and other individuals receiving a regular salary with at least three years of confirmed service are eligible for this loan

Security Needed

  • This is a collateral-free loan
  • The bank asks for two references from colleagues, friends and relatives other than blood relatives

Processing Charges


  • DCB Bank charges up to 2% of the total loan amount plus GST charges for processing this loan

Documents Needed

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
  • Salary account details

Reference Facts:

  • DCB Bank Website: www.dcbbank.com
  • Headquarters: Mumbai, Maharashtra
  • Call Centre Toll-Free Number: 1800 209 5363, 1800 123 5363