How many types of personal loan does Dena Bank offer?
Dena Bank offers only one type of personal loan known as ‘Dena Suvidha’.
What is the main aim of Dena Bank Personal Loan?
The main aim of Dena Bank personal loan or Dena Suvidha loan is to help an individual live their life to the fullest by granting finance for personal expenditure may it be for home renovation, a vacation or a wedding.
What is the eligible age to apply for Dena Bank Personal loan?
The individual needs to be between the ages of 24 to 55 years to be eligible for Dena Bank Personal Loan.
What are the other eligibility criteria for Dena Bank Personal loan?
Given below is a list of other criteria that one needs to fulfil in order to be eligible for Dena Bank Personal Loan.
The individual needs to be a permanent employee with at least 2 years of working experience
The individual needs to earn a gross monthly income of minimum Rs.15,000
What is the minimum loan amount that one can avail with this personal loan?
The minimum loan amount granted for the personal loan is Rs.15,000.
What is the maximum loan amount granted for different repayment periods?
Given below is a list of the maximum loan amount granted for different repayment periods for Dena Bank Personal Loan.
Repayment term of 36 months- 9 times of Net Monthly Income
Repayment term of 24 months- 6 times of Net Monthly Income
Repayment term of 12 months- 3 times of Net Monthly Income or Rs.1.00 lakh whichever is less
Does the borrower have to pay any prepayment charges for making prepayments to the personal loan?
The borrower does not have to make any prepayment charges for making prepayments to the loan.
What is the processing fee charged for the loan?
A processing fee of 1% is charged on the loan.
How is the loan disbursed?
The loan is disbursed by crediting the loan amount to the Savings Bank Account of the borrower.
What is the maximum repayment period granted by the bank?
The maximum repayment period offered for the loan is up to 36 EMIs.
How is the interest charged for the loan?
The interest for the loan is charged on daily reducing balance.
Is there any restriction on the utilisation of the loan amount?
There is no restriction on the utilisation of the loan amount as long as it is legal.
Can one apply for the loan online?
Yes, one can apply for the loan online either through the bank’s official website and download the form there or through a third party financial website that additionally provides information about the loan.
Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements. You often renovate your home to suit your changing needs. This loan can be used to carry out repairs / improvements within your existing owned residential properties.
Personal loans are taken primarily for fulfilling your personal aspirations such as vacation, a perfect wedding, home renovation or a much desired gadget. In addition to being relatively easy to apply for, personal loans are unsecured loans which means that you don't need any collateral to take this loan. They are one of the simplest form of loans with customer-friendly repayment terms.
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In this context, it is pertinent to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinizing the validity of the said property and its current market value.
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