DCB Bank is one of the prominent private sector banks of India that caters banking products like home loans, gold loan, car loan, personal loan, and many others. A personal loan is one of the top facilities provided by the DCB Bank. It is a loan amount provided to an individual for a fixed period to achieve financial needs. But, a borrower needs to keep an eye on the monthly installments that she/he will have to pay it back. Otherwise, it can make a dent in the monthly budget.
To save yourself from such an unwanted situation, you can use the DCB Personal loan EMI calculator. To use this calculator, you will need a few details which are mentioned below.
Quantum of Loan: The first thing that you will need is the desire loan amount. DCB Bank lets a borrower avail a loan amount ranges from a minimum of ₹ 1,00,000 to a maximum of ₹ 5 lakh. You can choose the loan amount according to your financial needs and repayment capability.
Rate of Interest: The second thing that you’ll have to fill in the DCB personal loan EMI calculator will be the rate of interest. The rate of interest offered by DCB Bank is fixed at 12% per annum on the personal loan. This also depends on your age, CIBIL score, employment type & stability, and other factors.
Tenure Period: This is the last thing that you’ll need to fill in the calculator. A tenure period is a number of months for which you are opting for a personal loan. You can choose from a minimum of 12 months to a maximum of 60 months according to your financial needs and repayment capability.
After putting these details into the calculator, you’ll get the exact amount of your monthly installments in a jiffy. The thing which makes the DCB personal loan EMI calculator stands out is the sheer accuracy of it. Also, it saves you from the tiring manual calculation. You can check the EMI amount for as much time as you want with different values and choose the right personal loan amount.
Features of DCB Bank Personal Loan:
You can have a look at some of the highlights of the personal loan facility by DCB Bank below.
- The loan amount which ranges from ₹ 1,00,000 to ₹ 5 lakh can opt for a period of 12 months to 60 months.
- The processing fee stands at 2% of the loan amount plus GST charges.
- You’ll have to complete minimal documentation to avail of personal loans.
- There is no collateral required to take the loan amount.
- The repayment can be done by various methods such as ECS (Electronic Clearance System), NACH, or through post-dated cheques.
- You may only request for the pre-closure for your loan after 12 months of the loan being disbursed.
Eligibility Criteria for a DCB Personal Loan:
- It can be availed by both the salaried and self-employed individuals.
- Both type of applicants must have a minimum age of 25 and a maximum age of 65 years at the time of loan maturity.
- A salaried applicant must have a minimum of three years of employment stability.