Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 Dena Bank Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    13.00% - 14.00% Fixed
    1% One time fee
    15K - 1L
    1-3 Years
    Response Time : Within 30 minutes
    What you'll love
    Think about
    Eligibility Criteria
    Dena Bank Personal Loan is Rated as "Pretty good" by 7 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service



    Dena Bank is one of the earliest banks in India, head quartered in Mumbai. Dena Bank was founded on 26 May 1938, by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company Ltd. It is one of the nationalised banks of India. Dena Bank became a Public Limited Company in December 1939 and later the name was changed to Dena Bank Ltd. It has a network of over 1400 branches with total asset of Rs. 6116.3 crores. Dena Bank offers scheme like Home Loan, Personal Loan, Sr. Citizen Pensioners loan, Dena Bank Gold Loan. Personal Loan in Dena Bank (suvidha scheme) offer minimal documentation and low processing fee

    Documentation needed to apply for an Dena Bank Personal Loan

    • 1. Signed application form with photograph
    • 2. Copy of passport/voter ID card/driving license
    • 3. Processing fee cheque
    • 4. Last 3 months bank statement/6 months bank passbook
    • 5. Documentation for salaried applicants:
      • Latest salary slip
      • Current dated salary certificate with the latest Form 16
    • 6. Documentation for self-employed applicants:

      • Latest Bank statement
      • Latest ITR or Form 16

    Dena Bank Personal Loan Interest RatesUpdated on 25 Mar 2019

    Dena Bank Personal Loan Details
    Interest Rate (Fixed) 13.00% to 14.00%
    Processing Fees 1.00% of loan amount
    Loan Tenure 36 months
    Pre closure charges Nil

    About Dena Bank Personal Loan

    Enquire for Dena Bank Personal Loan

    Dena Bank Personal Loan is the apt choice if you are looking to fulfill the personal needs of your loved ones. Be it a sudden medical expense or financing a wedding, Dena Suvidha Personal Loan scheme always be there for all your financial needs. You can avail Dena Bank Personal Loans to meet any genuine personal expenses like education purpose and travel costs.

    Why Choose Dena Bank Personal Loan

    There are a variety of advantages and benefits that you will get with Dena Bank personal loans. Here are some of the reasons as to why you should choose Dena Bank Personal Loan over other products in the market.

    • Affordable Personal Loans

      Dena Bank Personal Loans are offered at very competitive interest rates. The interest rates are fixed and is charged based on the MCLR system.

    • No Prepayment Charges

      Borrowers can prepay Dena Bank Personal Loan as and when they are left with surplus funds. No prepayment penalty is levied which help the borrower will save his precious money.

    • Transparent Disbursement

      The loan amount will directly be credited to the borrower’s Savings Bank account which makes the process very transparent.

    Features and Benefits of Dena Bank Personal Loan

    Dena Bank Personal Loans come with an array of benefits like low interest rates, impeccable customer support and flexible repayment options. Given below are some of the benefits and features of Dena Bank Personal Loan.

    • Repayment Tenure

      Borrowers can choose any period up to 36 EMIs to repay their Dena Bank Personal Loan.

    • Loan Quantum

      Borrowers can avail a minimum of Rs. 15,000 and a maximum amount of up to 9 times their Net Monthly Income (NMI).

    • Nominal Processing Fee

      The borrower will be levied a nominal process fee for Dena Bank Personal Loan.

    Dena Bank Personal Loan Interest Rates

    The Dena Suvidha is an affordable personal loans which helps you take care of any personal needs. It could be to family function, wedding, to take a vacation, for festive celebrations, medical treatments or even to help out following an unforeseen event. Interest rate charged on a daily reducing balance basis. All new personal loans will be provided under the MCLR linked interest rate system while existing loans will continue under the Base rate linked interest rate.

    Dena Bank MCLR (For new borrowers)

    Earlier this year, the Reserve Bank of India introduced the MCLR based interest rate system, which will be applicable on all new retail loans sanctioned by banks. MCLR (Marginal Cost of Funds based Lending Rate) is dependent on a variety of factors like tenure, repo rate, cost of funds, cost of maintaining cash reserve ratio (CRR), etc. MCLR rates are subject to change without prior notice. Following are the current MCLR benchmark rates valid until the date of the next review.

    Tenor MCLR (Percentage)
    Overnight MCLR 9.30%
    1 month MCLR 9.40%
    3 month MCLR 9.45%
    6 month MCLR 9.55%
    1 year MCLR 9.60%

    Dena Bank Personal Loan Interest Rates (MCLR)

    For new personal loans, interest rate will be calculated on the MCLR based system. Following is the MCLR based interest rate applicable on Dena Bank personal loan.

    Loan MCLR Interest Rate
    Dena Suvidha (associated with Corporate Salary scheme) 1 year MCLR + 3.40% = 13.00%
    Other cases 1 year MCLR + 4.90% = 14.50%

    Dena Bank Base Rate & Prime Lending Rates (For existing borrowers)

    Base Rate is the minimum rate, set by the RBI, at which banks are allowed to charge their customers for loan products. BPLR is the average interest rate which is charged by banks on loan products. Following is the Base Rate (BR) and Benchmark Prime Lending Rate (BPLR) applicable for personal loans provided by Dena Bank.

    Base Rate (w.e.f 05/10/2015) BPLR (w.e.f 05/10/2015)
    9.70% 15.20%

    Dena Bank Personal Loan Interest Rate (Base Rate)

    Existing personal loan borrowers can continue to pay interest on the Base Rate linked interest rate system. The Base Rate is subject to change from time to time and may vary based on the tenure, and loan amount. However, existing borrowers do have the option to switch over to the MCLR based interest rate system as well.

    Note: The MCLR rates given above are effective as of April 1, 2016. To know the currently applicable interest rates for personal loans, please contact the bank at the time of applying for the same. Also, interest rates for personal loans are subject to change without prior notice, following any revision in MCLR or Base Rate.

    Dena Bank Personal Loan Eligibility Criteria

    Read on to find the eligibility criteria for Dena Bank Personal Loan.

    • The applicant must have a gross monthly income of minimum Rs. 15,000.
    • The applicant must be a permanent employee of an organization and must be aged between 24 to 55 years.
    • The applicant must have worked with a reputed organization, PSU or Government organization for at least 2 years.
    • The applicant has to provide an undertaking form from the employer or can have a salary disbursement arrangement with Dena Bank.

    Dena Bank Personal Loan FAQs Section and add FAQs

    • How many types of personal loan does Dena Bank offer?

      Dena Bank offers only one type of personal loan known as ‘Dena Suvidha’.

    • What is the main aim of Dena Bank Personal Loan?

      The main aim of Dena Bank personal loan or Dena Suvidha loan is to help an individual live their life to the fullest by granting finance for personal expenditure may it be for home renovation, a vacation or a wedding.

    • What is the eligible age to apply for Dena Bank Personal loan?

      The individual needs to be between the ages of 24 to 55 years to be eligible for Dena Bank Personal Loan.

    • What is the other eligibility criteria for Dena Bank Personal loan?

      Given below is a list of other criteria that one needs to fulfil in order to be eligible for Dena Bank Personal Loan.

      • The individual needs to be a permanent employee with at least 2 years of working experience
      • The individual needs to earn a gross monthly income of minimum Rs.15,000
    • What is the minimum loan amount that one can avail with this personal loan?

      The minimum loan amount granted for the personal loan is Rs.15,000.

    • What is the maximum loan amount granted for different repayment periods?

      Given below is a list of the maximum loan amount granted for different repayment periods for Dena Bank Personal Loan.

      • Repayment term of 36 months- 9 times of Net Monthly Income
      • Repayment term of 24 months- 6 times of Net Monthly Income
      • Repayment term of 12 months- 3 times of Net Monthly Income or Rs.1.00 lakh whichever is less
    • Does the borrower have to pay any prepayment charges for making prepayments to the personal loan?

      The borrower does not have to make any prepayment charges for making prepayments to the loan.

    • What is the processing fee charged for the loan?

      A processing fee of 1% is charged on the loan.

    • How is the loan disbursed?

      The loan is disbursed by crediting the loan amount to the Savings Bank Account of the borrower.

    • What is the maximum repayment period granted by the bank?

      The maximum repayment period offered for the loan is up to 36 EMIs.

    • How is the interest charged for the loan?

      The interest for the loan is charged on daily reducing balance.

    • Is there any restriction on the utilisation of the loan amount?

      There is no restriction on the utilisation of the loan amount as long as it is legal.

    • Can one apply for the loan online?

      Yes, one can apply for the loan online either through the bank’s official website and download the form there or through a third party financial website that additionally provides information about the loan.

    Dena Bank Personal Loan Reviews

    • Dena Bank Personal Loan
      "Good Financial service"
      0.5 4.5/5 "Excellent!"
      I have taken personal loan from the Dena bank which took around 1 week for approval and documentation . Am much satisfied with the rate of interest which they have provided . They charged Rs nominal for processing fees with the tenure period .Their customer service and service is good
      Was this review helpful? 7
      , hyderabad
      Reviewed on Nov 02, 2018
    • Dena Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with DENA bank and my experience was good, the process was quick and i received my loan amount on time. The rate of interest was nominal when compared to other banks. Customer service was very good and they followed up on time.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Oct 19, 2018
    • Dena Bank Personal Loan
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I have approached for my home loan with DENA bank. Their interest rate was between 8-9% which is average in the market but I have taken with HDFC bank so cancelled the request here. The customer service and responses was up the mark. My overall experience was good.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Nov 01, 2017
    • Dena Bank Personal Loan
      "High rate of interest"
      0.5 3.0/5 "Satisfactory"
      Comparing to other banks rate of interest its too high in DENA bank, I am getting 8.45% rate of interest from other banks from my profile. Service was good, but once they called me and informed me the rate of interest I dropped the plan because I am getting low rate of interest in other markets.
      Was this review helpful? 3
      , secunderabad
      Reviewed on Aug 26, 2017
    • Dena Bank Personal Loan
      "Quick and fast service"
      0.5 5.0/5 "Blown Away!"
      When I choose the car loan through the financial channel, I never expected that the Dena bank will do the process so quick and fast. Immediately I got a call from Dena bank executives. The manager also spoke to me and explained the product in a brief. The documentation process was done in a smoother way, I just visited the branch just to do the signing part alone. Within 2 days of time , the loan got disbursed from Dena bank. The rate of interest is bit high, when compared with others. I am happy about the loan amount.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jun 17, 2017
    • Dena Bank Personal Loan
      "Least rate in the market"
      0.5 1.0/5 "Really Bad"
      First of all, the rate of interest offered by Dena bank was very high.They were asking for some surety or some sort of collateral security as the amount is huge. Therefore I switched over to HDFC also, the processing fee charged by DENA bank was 2% of the loan amount.
      Was this review helpful? 3
      , mumbai
      Reviewed on Oct 12, 2016
    • Dena Bank Personal Loan
      "Best interest ...."
      0.5 1.0/5 "Really Bad"
      Dena bank is too good in terms of charges. They offered lower rate of interest when I compare to other banks. But the thing is they were very slow in terms of response. When I approached them for a personal loan they did not called me on time. They should speedup their process.
      Was this review helpful? 9
      , kolkata
      Reviewed on Jan 27, 2016
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