Dhanlaxmi Bank Dhanam Personal Loan

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

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

Dhanlaxmi Bank Dhanam Personal Loan

This loan scheme helps salaried employees of reputed public and private organisations and self-employed professionals/non-professionals having a regular source of income to 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 Dhanlaxmi Bank Personal Loan

Why this Loan?

  • The Dhanlaxmi Bank Dhanam 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 self-employed professionals/non-professionals having a regular source of income get the needed funds to meet their personal needs
  • Borrowers can also avail this loan scheme to pay off their debts, thereby consolidating their debts 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. 15 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 Dhanlaxmi Bank is 8.90%. The Spread factor is decided by the bank based on the credit score of the borrower

Repayment

  • This loan must be repaid within 5 years

Eligibility

  • The borrower must be at least 23 years old to apply for this loan
  • The minimum income requirement is Rs. 35,000 per month for salaried individuals and Rs. 1,80,000 per annum for self-employed professionals/non-professionals
  • Salaried employees of Central and State Government undertakings, public limited companies, private limited companies, multinational corporations, reputed partnership firms with at least 2 years of experience are eligible for this loan
  • Self-employed professionals and non-professionals with a regular income with over 3 years in the current venture are also eligible

Security Needed

  • This is a collateral-free loan

Processing Charges

  • Dhanlaxmi Bank charges up to 2.5% of the total loan amount with a minimum of Rs. 1,250 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:

  • Dhanlaxmi Bank Website: www.dhanbank.com
  • Headquarters: Thrissur, Kerala
  • Call Centre Toll-Free Number: 0487 6613000