The Personal loan scheme from digibank by DBS is suited for fulfilling the diverse financial needs of customers. The loan is offered starting at 10.99% p.a. onwards. Digibank provides paperless, signatureless and hassle-free Instant Personal loans without any physical documents.
| Maximum Loan Amount | Up to Rs.15 lakh |
| Tenure | Up to 60 months |
| Processing fee | 3% of the loan amount |
| Interest rate | 10.99% p.a. to 34.00% p.a. |
| Part pre-payment charge | 2% - 4.50% |
The personal loan from digibank by DBS has the following key features:
The various charges associated with the digibank by DBS personal loan are as given below:
| Processing fee | 3% of the loan amount |
| Foreclosure charges |
|
| Part pre-payment charges |
|
| Loan cancellation charges | Nil |
| Penal interest rate | 2% per month on the overdue installment |
| Standing instruction dishonour charge | Rs.600 + GST for each instance |
Digibank Existing users:
New to Digibank:
The application process is simple and takes only a few minutes through the digibank app. Once the application is completed, the loan amount will be transferred to your digiSavings account, post account verification.
The digibank by DBS personal loan can be availed without submitting any physical documents. You will just have to provide some personal details during the application process. If you need a loan above the limit approved, the bank will request you to submit your bank statements (other than digibank).
Part pre-payment of the DBS personal loan is allowed only after the completion of 1 year from the date of loan disbursement. This is also subject to a maximum of 2 pre-payments in 12 months. The pre-payment can be done from your digiSavings account. Please note that you will also have to pay the associated tax and charges.
Foreclosure of the loan is allowed after the completion of 1 year from the loan disbursement date.
Yes, this is possible. Loan cancellation can be done only during the free-look period of 2 days within the disbursal of the loan amount.
The payment of EMI can be done only through your digiSavings account. The bank will be sending you regular updates on the due date for EMI. You have to ensure that the digiSavings account has sufficient balance, at least 2 days before the EMI due date.
After you have been approved for the loan, you can find your repayment schedule on the bank website. Traverse the path, “Personal Loans” -> “Statements” from the dashboard or the digibank menu.
The bank charges you an interest rate and processing fee based on your loan eligibility. Hence, it is not possible to alter it after an offer is made by the bank.
After you have completed the application process, you will be required to do the account verification through the digibank app. The entire loan amount will then be credited to your digiSavings account after the tax and processing fee are deducted. Part disbursement facility is not available for the DBS personal loan.
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
