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    Deutsche Bank Personal Loan Interest Rates Reviews

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    Overview of Deutsche Bank Personal Loan

    Deutsche Bank is a German international bank and is one of the country's top international banking and financial services company with their head office in Frankfurt. Deutsche Bank has their operations in over 70 different countries of the world. They offer you a great and easy way to fulfill your dreams, and not let money be a problem. Be it a vacation for your family, or a household appliance, or your child education. Deutsche Bank will help you make this a reality.

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    Deutsche Bank Personal Loan Interest Rates

    Despite our saving methods and amounts of money saved in various forms, the need for money can come to us unexpectedly. Unavoidable expenses are always on the rise in our everyday lives, and this is, where Deutsche Bank steps in. They provide you, their customers with personal loans without any security, collateral or a guarantor, at a rate of interest of 24% per annum. The processing charges stand at 3%. The maximum amount offered as a personal loan ranges from Rs 50,000/- to Rs 7, 50,000/- depending on your eligibility, income and repayment capacity. All existing customers with a monthly take home of Rs. 25,000, between the age of 25-60 can apply.

    Deutsche Bank Personal Loan Interest Rates 2017

    Particulars Salaried Self-employed
    Interest rate 24% p.a. 24% p.a.
    Loan Amount Minimum: Rs.50,000
    Maximum: Rs.15 lakh
    Minimum: Rs.50,000
    Maximum: Rs.15 lakh
    Loan Tenure Minimum: 12 months
    Maximum: 48 months
    Minimum: 12 months
    Maximum: 48 months
    Lowest EMI Rs.2462.72 p.m. (Calculated for the minimum loan amount for the longest tenure allowed at the lowest interest rate available). Rs.2462.72 p.m. (Calculated for the minimum loan amount for the longest tenure allowed at the lowest interest rate available).
    Processing Fee Up to 3% of the loan amount. Up to 3% of the loan amount.
    Age Minimum: 25 years
    Maximum: 60 years
    Minimum: 25 years
    Maximum: 60 years
    Prepayment Charges Part prepayment not allowed. Part prepayment not allowed.
    Foreclosure Charges Before 6 months from the date of loan disbursal: Not permitted. After 6 months from the date of disbursal: 5% of the principal outstanding amount. Before 6 months from the date of loan disbursal: Not permitted. After 6 months from the date of disbursal: 5% of the principal outstanding amount.

    How to calculate the interest/ EMI on your Deutsche Bank Personal Loan

    Online is the place to be today, be it shopping, networking, a business start-up or related to banking. All banks today have an array of services available online, offering many financial tools to help you with your financial transactions. These financial calculators help you with calculating your EMIs, eligibility, simple/compound interest and more. BankBazaar has a great EMI calculator that can simplify your EMI calculations. All you need to do is login to the website and enter the details of your loan, like amount, interest rate, tenure of the loan, processing fees, if any, etc. The website will calculate the EMI and display a result that’s simple and easy.

    As an example, Roshni Das takes a personal loan for Rs. 1, 00, 000 from Deutsche Bank, with an interest rate of 24%. The tenure of her loan is 36 months resulting in a monthly EMI of Rs. 3, 923. In the table below you can see the payments on a yearly basis which Roshni pays back to Deutsche Bank.

    Loan table:

    YearPrincipal paid (Rs)Interest paid (Rs)Balance amount (Rs)
    201510,0099,60889,991
    201628,48018,59961,511
    201736,12010,96025,391
    201825,3912,0720

    Factors that affect your Deutsche Bank Personal Loan rates

    Deutsche Bank personal loan interest rate varies for every applicant due to the following factors:

    • Loan tenure: If the loan tenure is shorter, the interest rate is higher compared to loans with a longer tenure.
    • Repaying capacity: All banks check a person’s capacity to repay their loans before offering him a loan and before deciding the interest rate. The bank will ensure that the EMI amount does not exceed 40% of the borrower’s income. It also looks into the borrower’s income, assets and creditworthiness before finalising on an interest rate.
    • Bank and customer relationship: Deutsche Bank, at its discretion may offer applicants a lower rate of interest based on their relationship with it. This consideration may be due to past actions, like their previous loan repayments. Banks may offer people who are valued to them lower rates of interest.
    • Age: It is possible for banks to vary their interest rates depending on the individual's age. Elders and senior citizens (>60 years) might be charged a lower interest compared to youngsters (<30 years).

    Please Note: Interest rates charged by Deutsche Bank are at their sole discretion and subject to change.

    How your CIBIL score can affect you Deutsche Bank Personal Loan rate

    One should never neglect the, as banks determine the credit history of an applicant depending on his/her CIBIL score, and decide if an individual is worthy enough of a loan based on this score. Any applicants who have a lower CIBIL score can prove to be financially unstable and most banks charge a higher rate of interest in such cases.

    Key things you should know about Deutsche Bank Personal Loan interest rates

    • The personal loan from Deutsche Bank is subject to the repo rate of Reserve Bank of India, and may be reduced further in the months to come, but not immediately.
    • When taking the personal loan from Deutsche Bank read fine print for any hidden charges involved in the loan. It protects you from getting financial shocks at the end.
    • Ensure that you have a good credit score as it’s important. It helps get you a lower interest when applying for a loan with Deutsche Bank.
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