Dhanlaxmi Bank Personal Loan
Incorporated at Thrissur in 1927, Dhanlaxmi Bank Ltd now has over 678 branches across India. The Dhanlaxmi Bank lays emphasis on increasing its client base on the basis of high quality customer service, wide range of products and strong innovation among others. The Dhanlaxmi Bank introduced several measures to deliver efficient services aided by technology such as the Real Time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT) systems, which ensure easy processing of large settlements online in real time. The Dhanlaxmi Bank is one of the key players in the microcredit sector in Kerala.
The Dhanlaxmi Bank offers personal loans to cater to the various financial requirements of customers such as admission fees of children and buying home appliances among many others without any hassles.
Why choose Dhanlaxmi Bank Personal Loans?
The Dhanlaxmi Bank offers attractive personal loan schemes for salaried and self-employed for the benefit of customers. The Dhanlaxmi Bank aims to cater to the financial requirements of customers by providing high quality service via its branches in addition to various initiatives aided by latest technology. Salaried customers opting for personal loans need to have a steady regular income. The Dhanlaxmi Bank reviews the customers’ ability to pay EMIs. Also, customers should not have any current or past loan defaults, which is reflected in the CIBIL report. Personal loans are offered have a maximum tenure of 60 months.
Features of personal loans from Dhanlaxmi Bank
The features of personal loans offered by Dhanlaxmi Bank for salaried persons are as follows:
- Loan Amount: The Dhanlaxmi Bank offers loans ranging from Rs. 1 lakh to 15 lakh for salaried persons and Rs. 3 lakh to 15 lakh for self-employed.
- Income: The minimum income required is Rs. 35,000 p.m (salaried) and Rs. 1,80,000 p.a. for self-employed persons.
- Experience: 2 years and above (salaried); 3 years & more (self-employed) and 5 years of experience with 4 years in the current company (self employed non-professional).
- Documentation: The Dhanlaxmi Bank has a hassle-free and simple documentation process for applying for personal loans. Customers can either approach their nearest bank or log on to the official website of the bank for information about the procedure.
- Payment: The Dhanlaxmi Bank offers flexible repayment options, i.e, 12 to 60 months.
- Pre-closure charges: The Dhanlaxmi Bank charges 2% plus ST of the principal outstanding as the pre-closure charges.
- Processing Fees: The Dhanlaxmi Bank charges 2.5% of the loan amount as processing fees.
- Profile: Permanent employees in central or state government, blue chip private sector companies, doctors, engineers, chartered accountants and management consultants in addition to self-employed individuals.
Dhanlaxmi Bank Personal Loan Interest Rates
The Dhanlaxmi Bank offers an interest rate* ranging from 16% to 18% for salaried and self-employed professionals. However, interest rates are slightly higher for self-employed non-professionals at 20%.
* Interest rates are subject to change.
Eligibility criteria for Dhanlaxmi Bank Personal Loans
The Dhanlaxmi Bank may change the eligibility criteria on a case to case basis. However, some of the common eligibility criteria are listed below:
- Age: Above 23 years (salaried and self-employed)
- Documentation: The documents required for salaried individuals are listed are the following:
| Proof | Documents |
| Proof of Identity (any one) |
|
| Proof of Age (any one) |
|
| Residential Proof (any one) |
|
| Signature Verification |
|
| Continuity Proof |
|
| Income Proof |
|
The documents required for self-employed individuals are listed in the table below:
| Proof | Documents |
| Proof of Identity (any one) |
|
| Residence Proof |
|
The documents required for co-applicants-non-individuals/companies/are listed in the table below:
| Proof | Documents |
| Proof of Existence and Registration Office Address (any one) |
|
| Proof of Operating Address (any one) |
|
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