• DBS Bank Personal Loan

    The personal loan scheme from digibank by DBS is suited for fulfilling the diverse financial needs of customers. The loan is offered at attractive interest rates.

    • Maximum Loan Amount: Rs 15 lakh
    • Tenure: Up to 60 months
    • Part pre-payment charges: (2 - 4.50)%

    Features

    The personal loan from digibank by DBS has the following key features:

    • The loan eligibility can be assessed in a few simple steps. 
    • The application process for the loan is completely digital and paperless. 
    • The loan has a competitive fixed interest rate. 
    • The loan repayment can be managed from the mobile application. 
    • Pre-approved loans are instantly disbursed by the bank. 

    Eligibility Criteria

    The eligibility conditions that an applicant should fulfill in order to qualify for the DBS personal loan are as follows:

    Age Occupation Minimum Income
    Between 22 years and 60 years Self-employed or salaried Rs.20,000

    Fees and Charges of DBS Personal Loan

    The various charges associated with the digibank by DBS personal loan are as given below:

    Processing fee  One-time fee; depends on eligibility 
    Foreclosure charges 
    • For tenure between 12 and 24 months – 4.50% of the loan principal outstanding + GST 
    • For tenure between 25 and 36 months – 2.50% of the loan principal outstanding + GST 
    • For tenure greater than 36 months – 2% of the loan principal outstanding + GST 
    Part pre-payment charges 
    • For tenure between 13 and 24 months – 4.50% of the loan principal paid + GST 
    • For tenure between 25 and 36 months – 2.50% of the loan principal paid + GST 
    • For tenure greater than 36 months – 2% of the loan principal paid + GST 
    Loan cancellation charges  Nil 
    Penal interest rate  2% per month on the overdue installment 
    Standing instruction dishonour charge  Rs.600 + GST for each instance 

    FAQs 

    How long does it take to apply for a DBS personal loan? 

    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. 

    What documents should I submit when applying for a DBS personal loan? 

    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). 

    When can partial pre-payment of the DBS personal loan be done? 

    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. 

    When can foreclosure of the DBS personal loan be done? 

    Foreclosure of the loan is allowed after the completion of 1 year from the loan disbursement date. 

    Is it possible to cancel my loan application? 

    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. 

    How do I repay my DBS personal loan? 

    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. 

    Where can I find my DBS personal loan repayment schedule? 

    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. 

    Can I request for my processing fee and interest rate to be altered during the loan tenure? 

    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. 

    How is the DBS personal loan amount disbursed? 

    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.

    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.

        

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    DBS bank personal loan Reviews

    • DBS Bank Personal Loan
      "Good Loan Service"
      0.5 4.0/5 "Great!"
      Interest rate is much higher in DBS bank and the personal loan was a pre-approved one and i like that offer. Processing fee was fine and they have offered me a interest rate of 15.75%. I took the loan amount of Rs. 1.5 lakhs. Since its a pre-approved loan, i didn't provide any documents and the loan amount got credited to my account in 20 seconds.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jan 27, 2020
    • DBS Bank
      DBS Bank Personal Loan
      "Discipline bank"
      0.5 4.5/5 "Excellent!"
      When i opened the account in DBS BANK within a year, they are ready to provide the loan. The EMI amount can be viewed by the customer hence its easy to access all the features of the loan hence I'm ready to suggest this loan to everyone. Interest rates are better as i compared to others. After 1 year, I'm planning to pre-close the loan but i do not have any idea about the charges.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 20, 2019
    • DBS Bank Personal Loan
      "Good bank"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with DBS bank for more than 10 months. The rate of interest was low in this bank when compare to other. EMI as well low. For the tenure period of 2 years. The amount is sufficient. The transaction is good. By message got a preapproval loan option from this bank so not provided any documents.
      Was this review helpful? 6
      , bangalore
      Reviewed on Oct 28, 2019
    • DBS Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I took personal loan from DBS, the loan amount is Rs. 1.25 lakh for 18 months, the rate of interest is 14% for per annum. They charged me the processing fee around Rs.2600 from the disbursement.The service is excellent within five minutes I got the money.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 06, 2019
    • DBS Bank Personal Loan
      "Good and better loan"
      0.5 5.0/5 "Blown Away!"
      Taken my personal loan from DBS because of the lower interest rate i have chosen them. I got the loan 6 months back. The loan amount is Rs. 80000 and the interest rate is 14% and the processing fee is 2%. Within 2 minutes, they have sanctioned the loan. They have approved the loan without any documents.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 31, 2019
    • DBS Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have a personal loan with DBS BANK which was instant approval. The rate of interest is reasonable and the processing fee is applicable. They were charged me 1.5% for the loan amount of 50K. The loan tenure is 1year. I am paying EMI of 4554rupees through ECS.
      Was this review helpful? 4
      , bangalore
      Reviewed on Aug 28, 2019
    • DBS Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      In DBS bank I have taken a personal loan bank on 6 months before which was processed directly to bank. They have instantly approved my loan so not required to submit the documents. They have sanctioned on time. Loan amount is sufficient for the tenure of 2 years. The rate of interest and processing fee are nominal of 14%.
      Was this review helpful? 3
      , pune
      Reviewed on Jul 25, 2019
    • DBS Bank Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I took a personal Loan from DBS BANK . The Application process was smooth and the loan amount was credited to my account with in few days. The documentation was also very fast. I am happy with their services considering the loan experience. The tenure period is fine .
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 16, 2019
    • DBS Bank Personal Loan
      "Good loan service"
      0.5 5.0/5 "Blown Away!"
      I have received the offer message from DBS regarding the personal loan. I have applied the loan amount of Rs. 1 lakhs. 1 year back got the loan with the loan amount of 24 months already 1 month is over. I pay the EMI of Rs. 4752. They have provided me a interest rate of 11.99% which is nominal. When i click the link from the message, immediately the amount has been credited to my account.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 27, 2019
    • DBS Bank Personal Loan
      "EXCELLENT"
      0.5 4.5/5 "Excellent!"
      I have applied for the personal loan with the DBS BANK where they have offered with the satisfactory loan amount added on that the service is good also the documentation1 process was simple and easy to get the loan. The rate of interest was nominal.
      Was this review helpful? 3
      , noida
      Reviewed on May 18, 2019
    • DBS Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      This loan has been given to us employees as a Festival loan, and the loan amount has been satisfactory as well. As per the income of the customers the loans where given from 20,000 to 50,000. There has not been any interest rate which they where charging with this loan as well.
      Was this review helpful? 17
      , new delhi
      Reviewed on Oct 05, 2018
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