Personal Loan

1. Customer will have to go into app setting
2. Visit app management
3. All permission granted to app will be displayed

We don’t store any information on app, Consent given by customer to collect certain data during the onboarding journey can be revoked by customer through its app settings in their Android phone

We will be happy to help you out with a Personal Loan between Rs. 20,000 and Rs. 15 lakhs. The loan amount depends on your eligibility.

The interest rate for any digibank Personal Loan remains fixed throughout the loan’s tenure. The rate is a reducing balance interest rate.

Your Personal Loan tenure depends on your eligibility. It could be anything from 12 months up to 5 years.

The processing fee is a one-time fee and it depends on your eligibility. It will be deducted from your loan amount. The remaining amount will be credited to your digibank savings account. We don’t charge any annual fees.

Here’s some important information on the charges & fees connected to a Personal Loan:
A one-time processing fee will be charged along with applicable taxes when you avail of a Personal Loan. You will also have to pay monthly EMI during the repayment tenor to repay your Personal Loan. The rate of interest and processing fee will depend on your eligibility. It will be displayed on your screen when you check your eligibility. Other charges may include late payment charges, part payment charges and foreclosure charges. Click here to view fees and charges for Personal Loan.

Our Personal Loan application process takes a few minutes to complete. Once you complete the application process, your Personal Loan amount will be transferred to your digibank savings account after your account verification.

Our Personal Loans are hassle-free. You do not need a guarantor, collateral or a co-applicant to get a Personal Loan from us.

Applying for a digibank Personal Loan is completely paperless. You just need to give some personal details to apply. In case you need a loan that’s over the approved limit, we’ll need your bank details or statements to be uploaded. No other documents like salary slips or IT returns are needed.

Full pre-payment of your digibank Personal Loans is allowed any time after 12 EMI repayments of your loan. Pre-payment can be done from digibank savings account after payment of the applicable charges.

Partial pre-payment of loan can only be done after completion of 6 months from date of disbursement subject to maximum 2 pre-payments in a year. You can complete pre-payment from your digibank savings account after you pay any applicable charges and taxes.

Paying your digibank Personal Loan EMI is easy, as it will simply be debited from your digibank savings account. All you need to ensure is that your account is sufficiently funded at least two days before the EMI due date. You can fund your digibank savings account seamlessly using NEFT / RTGS / IMPS / UPI funds transfer options.

After you take a digibank Personal Loan, download the repayment / loan schedule from the 'Statements' section under 'Personal Loans' on the dashboard or the digibank menu.

You can cancel your Personal Loan within 72 hours of the loan amount being credited to your account. We won’t levy any cancellation charges in this period, but the processing fee you paid can’t be refunded.

You can also email us on [email protected] within 72 hours.

The Personal Loan amount is credited only into your digibank savings account after you complete the application process and account verification on the digibank app. The amount credited to you will be after deduction of the processing fee and applicable taxes. The full loan amount will be credited to your account as we don’t offer a part disbursement facility.

digibank Personal Loans are paperless, signatureless and hassle-free loans. We really do not ask for any physical documents or ask you to fill any paper-based application forms. You can apply for the loan at your convenience by clicking on the apply now button on this page or by downloading the digibank app. There’s no need to visit a branch.

The interest rate & processing fee for your Personal Loan is based on your eligibility. There is no provision for changing the interest rate or processing fee we offer.

For a detailed understanding of the terms and concepts click here.