Apply for Personal Loan
Want cash in a hurry? A personal loan from digibank by DBS may just be the thing you need. You can use it for that family vacation you’ve always wanted, the latest gadget, renovating your home, or for a loved one’s wedding. We offer the most competitive personal loan interest rates in India, starting as low as 10.99% p.a. You can avail a personal loan up to Rs. 15 lakh with digibank in no time without bearing the burden of substantial interest payments. What’s more, the process of obtaining it is 100% paperless. Calculate your eligibility instantly and apply online using your digibank by DBS app in just three simple steps.
digibank by DBS offers attractive personal loan interest rates and charges. A fixed processing charge is applicable irrespective of the loan amount or tenure. Refer to this table to know more about the applicable rates and fees.
Effective from 15th March 2021
10.99% to 34%
1.00% to 3.00% + GST as applicable
Standing instructions dishonour
Rs. 600 per instance + GST as applicable
24% per annum or 2% overdue interest per month of delay
Depends on loan tenure, and are detailed below
You can make partial pre-payment or foreclosure any time after 6 months on personal loans by digibank by DBS. Detailed below are applicable personal loan charges.
Foreclosure charges: Permitted only after 6 months from the date of disbursement
Prepayment charges: You are allowed to make a partial prepayment of loans after 6 months from the disbursement date. However, this is subject to a maximum of two prepayments a year.
You can also cancel the loan during the free look period, two days within the disbursal of the personal loan. There are no cancellation fees, but processing charges paid earlier will not be refunded.
Your personal loan interest depends on three factors – your loan amount, the tenure, and the interest rate. You must remember that personal loan rates vary from individual to individual.
Before you take a personal loan, find out how much you can realistically pay back each month. The amount you pay each month will also depend on the tenure of the personal loan. A shorter tenure will mean larger instalments, while a longer one will involve smaller payments. Your total interest payments on a personal loan will be lower with a shorter tenure. A longer tenure will mean more interest payments.
Personal loan rates are calculated using the reducing balance method. Your interest obligation for the month will depend on the principal outstanding after previous repayments. With every payment, the principal outstanding goes down, and so does your interest burden. You can use the digibank by DBS EMI calculator to estimate your monthly EMI obligations.
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**All loans will be given out at the sole discretion of DBS Bank India Limited.
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