You might need a personal loan for a variety of reasons - a much-awaited international holiday, a sudden medical emergency or for a dream wedding. No matter what your purpose is, you can take a personal loan for salaried individuals offered through digbank by DBS.
Our guiding principle is ‘Live More, Bank Less’. Now, salaried employees can apply for a personal loan in just four quick and easy steps. The interest rates we offer are appealing, loan tenures flexible, and we have simple options for loan repayment. Download the digibank by DBS app, and you can get your required funds after a short wait. If you fit our eligibility criteria for a pre-approved personal loan, you get instant disbursal!
It will just take you a couple of minutes
You needn’t submit any physical document
You get fixed interest rates that are generous
Loan tenures vary from 12 to 60 months
You can manage everything digitally from the app
digibank Savings Account customers who are eligible will receive this offer
The eligibility criteria for a personal loan for salaried employees are:
22 years (lower limit)
Salaried or self-employed
Minimum of Rs. 20,000 per month
Unlike other banks, you don’t have to submit any paper documents to apply for a personal loan through digibank by DBS. All that is required is a KYC verification, which you will need to scan and upload (documents like passport, driving licence, voter's identity card, Aadhaar card or PAN card are accepted).
If your requirements exceed the permissible upper limit, you will be required to provide some bank statements and details (other banks). That’s all. We do not ask for salary slips or income tax returns.
Open Instant digibank Savings Account in just a few minutes.
Personal loan for salaried people can range from Rs. 25,000 and Rs. 15 lakh, depending on eligibility.
Interest rates range from 10.99% to 23.99%. How much you are charged will depend on various factors like income, credit score, and so on.
Tenures can range from 12 months to five years, depending on eligibility and other factors.
A processing fee (one-time) and relevant taxes are charged when you take a personal loan
The application process for our personal loan only takes a few minutes.
Once the application process has been completed, your account verification will be done. Then the personal loan amount will be credited to your digibank Savings Account.
Personal loan for salaried employees is entirely devoid of hassles like these. There’s no need for you to have a guarantor, provide collateral, or have a co-applicant.
Applying for a personal loan with is us is 100% paper-free. You need to fill in some personal details to apply.
If the loan amount you sought exceeds our approved upper limit, you will be required to provide your bank details and statements (banks other than DBS).
Other documents, like salary slips or income tax returns, are not required.
After you have paid the first 12 EMIs, you can make a partial prepayment of your personal loan at any time.
You need to pay the applicable charges or taxes if there are any before you can make the pre-payment from your digibank Savings Account.
The EMI of your personal loan will be debited from your digibank Savings Account, so payment is effortless.
You need to ensure that your account has sufficient funds two days before the payment date of your EMI. Your EMI is paid only through your digibank Savings Account, and there are no other options to transfer payment from other bank accounts. You will receive regular notifications regarding your EMI due date and payment.
If you want a personal loan for salaried, go to the 'Personal Loans' section in the digibank by DBS menu. Then go to the 'Statements' section and download the repayment/loan schedule.
After the amount has been credited to their account, a 48-hour window is provided to everyone for cancellation of loans. You will be charged with no cancellation fees then. However, the processing fee you paid is non-refundable.
After you get done with the application process and your verification has been carried out through the digibank by DBS app, the amount is credited into your digibank Savings Account. The amount you receive will be after the deduction of the processing fees and other taxes.
You will receive the full amount of the loan since we do not offer a part-disbursement facility.
If you want a loan with no hassles, digibank by DBS is the best choice. We ask for no physical documents and deal in no paper-based application forms. Apply for a loan at your convenience, right from the digibank by DBS app itself.
The interest rate and processing fee that we offer is based on your eligibility and is not negotiable.