Personal Loans for Self-Employed

At digibank by DBS, we offer an instant loan for self-employed anywhere between Rs. 25,000 and Rs. 15 lakh. The amount you can avail depends on your eligibility.

Interest rates range from 10.99% to 23.99%. It is a reducing balance interest rate.

Again, the time you get for repayment depends on your eligibility. The tenure can be from 12 months to 5 years.

Here are the fees and charges associated with a personal loan:

A one-time processing fee will be levied along with other applicable taxes when you apply for a personal loan. You will also be required to pay monthly EMIs during the repayment period. The rate of interest and processing fee quoted will depend on your eligibility. It will be displayed on the screen when you test your eligibility online.

Besides this, other possible charges may include those for late payment, part-payment, and foreclosure.

The process for our personal loan application takes only a few minutes to finish. Once you complete the process, the account verification will be done.  After that, the amount of your personal loan will be credited to your digisavings account.

Our personal loans don't require a guarantor, collateral or a co-applicant.

The digibank personal loan application process is completely paper-free. Provide some personal details to apply.

If your loan amount surpasses the approved limit, only then do you need to provide your bank details or statements (of other banks).

Other than this, no other documents are needed.

Part pre-payment of your digibank by DBS personal loan is allowed at any point after you have made 12 EMI repayments. You can go through with the pre-payment from your digisavings account after the applicable charges and taxes, if any, have been cleared.

Paying the EMI for your digibank personal loan is a simple task. It is just debited from your digisavings account. You need to ensure that your account has adequate funds at least two days before the date of payment of the EMI. Your EMI can only be paid through your digisavings account, and there is no option for payment through other banks. You will receive timely EMI due date and EMI payment notifications.

After you have opted for a digibank by DBS personal loan, go to the dashboard or the digibank menu, then 'Personal Loans', then 'Statements' section and download the repayment/ loan schedule.

Your personal loan should be cancelled within 48 hours of it being credited to your account. No cancellation charges will be levied in this period, but the processing fee you have paid is not refundable.

After the application process and account verification have been completed, the loan amount is credited to your digisavings account. The amount is credited after the processing fee, and taxes have been deducted from it. We do not offer part disbursement so that the full amount will be credited.

digibank by DBS personal loans do not require any physical forms or documents. You can avail of the loan when you feel like, from the convenience of your home, using the digibank by DBS app.

Your eligibility determines the interest rate and processing fee for the personal loan. The interest rate or processing fee that is being offered cannot be altered.