Deutsche Bank is a German global investment bank that offers financial services across the globe in more than 70 countries. Quick glance on what's special about personal loan from Deutsche bank.
|Interest Rate||24% p.a.|
|Loan Amount||Up to Rs.1.5 lakh|
|Processing Fees||Up to 2% of the loan amount|
|Loan prepayment charges||5% of the outstanding principal amount (fixed rate loan)|
|Unsuccessful standing instruction charges||Rs.500|
|Cheque bounce charges||Rs.500|
|ECS or NACH bounce charges||Rs.500|
|Stamp duty charges||As per the local regulations|
|ECS or NACH or SI swap charges||Rs.500|
|Taxes||As per the local regulations|
Click here for details on Deutsche Bank Personal Loan Interest Rates
As mentioned earlier, the documentation process for Deutsche Bank Personal Loan is easy and minimal. Deutsche Bank requires any one of the following documents under each head for a personal loan application:
|Proof of Identity||
|Proof of Age|
|Proof of Signature||
|Proof of Address||
|Age||At least 25 years and not more than 60 years|
|Employment Status||Salaried individual (should be an existing customer)|
|Minimum Net Salary||Rs.25,000 or more|
|Telephone Number||Compulsory for both office and residence|
Head to Deutsche Bank Personal Loan Eligibility for a detailed idea of the eligibility criteria of the bank.
If you are looking for a personal loan from Deutsche Bank, you might like to go through the following example for a better understanding of how the loan works.
Let us assume that Mr. Bing is a resident of Mumbai who draws a monthly salary of Rs.60,000. He takes a personal loan of Rs.1 lakh from Deutsche Bank. The applicable rate of interest on the loan is 24% p.a. and the processing fee is 2% of the loan amount. He decides to pay off the loan in 12 months. His repayment schedule on the basis of these factors has been portrayed in the following table:
|Month||Principal Paid (A) (in Rs.)||Interest Paid (B) (in Rs.)||Total Amount Paid (A+B) (in Rs.)||Outstanding Loan Amount (in Rs.)|
On the basis of the details that have been mentioned above, Mr. Bing will be required to pay a total of Rs.1,15,472* to pay off the loan completely. The total interest which he has to pay is Rs.13,472. The processing fee for the loan is Rs.2,000. Rs.9,456 is the monthly EMI amount that Mr. Bing would be paying for 12 months.
You can use the BankBazaar Personal Loan Calculator to find out the repayment schedule and EMI amount for your personal loan.
*The figures quoted here are for the purpose of understanding only. The applicable taxes (if any) have not been taken into consideration.
|Particulars||Deutsche Bank Personal Loan||HSBC Bank Personal Loan||Citibank Personal Loan||SBI Personal Loan|
|Interest rate||24% p.a.||10.99% p.a. to 17.84% p.a.||10.99% p.a. to 18.00% p.a.||12.00% p.a. onwards|
|Processing fee||Up to 2% of the loan amount||Up to 1% of the loan amount||2.00% to 3.00% of the loan amount||1% of the loan amount + applicable GST|
|Foreclosure charges||5% of the outstanding principal amount||Up to 3.75% of the outstanding principal amount||As per the terms and conditions of the bank||3% of the outstanding loan amount|
A: You can download the Loan Interest Certificate from the Deutsche Bank website. You will be required to follow the steps given below:
A: You will be required to wait for a period of 30 days (from the date on which the new interest rate is changed) to be able to view the interest certificate online. However, if you need the certificate urgently, you can get in touch with the bank by calling them on 1860 266 6660.
A: Yes, you can track the status of your Deutsche Bank Personal Loan by clicking on the ‘Track your loan’ option on the personal loan main page on the bank website. The option is placed under the ‘Useful Information’ heading. You need to follow these steps:
A: To rectify errors in the statement, you will be required to get in touch with the bank through its customer care email ID at firstname.lastname@example.org. You can also call the customer care call centre at 1860 266 6660.
A: No, Deutsche Bank offers personal loans only to its existing customers.
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