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    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
    15,000 - 1L
    1-3 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria

    Dena Bank Personal Loan is Rated as "Really Bad" by 1 Users

    Promised Interest Rate

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    Personal Loan BYTES FROM OUR KITCHEN

    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


    You’re probably eligible for an Dena Bank Personal Loan if you are

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    Dena Bank Personal Loan Minimum Age

    At least 24 years old

    Dena Bank Personal Loan Maximum Age

    Less than 55 years old

    Dena Bank Personal Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    Dena Bank Personal Loan Minimum Income

    Earn more than the minimum
    income required


    Your Dena Bank Personal Loan amount eligibility is based on these factors

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    Dena Bank Personal Loan Minimum Salary

    Minimum income required
    Rs. 15,000 per month

    Dena Bank Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Rs. 1 lakhs

    Dena Bank Personal Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Dena Bank Personal Loan amount by these steps

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    02
    Dena Bank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    “Dena

    Choose longer tenure loan up to 36 months


    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 29 Sep 2016

    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

    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.

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