Deutsche Bank AG is a German global banking and financial services company with its headquarters in the Deutsche Bank Twin Towers in Frankfurt. Bank has more than 100,000 employees in over 70 countries.
|Interest Rate||Up to 24%|
|Processing Fees||3.00% of the loan amounts|
|Loan Tenure||1 Year to 4 Years|
|Pre-closure Charges||5% of the Principal Outstanding|
|Guarantor Requirement||No Guarantor Required|
Deutsche Bank is one among the biggest and most successful investment banks in the world. It has a strong and proven foothold in Germany and Europe and is constantly growing and expanding in North America and India. It’s a well-established and highly trusted name in personal and business finance, extending credit, private wealth management, retail banking and business process outsourcing.
Taking a personal loan from Deutsche Bank, which has over 78,000 employees in over 70 countries, is a move in the right direction.
There are certain large, unavoidable and obligatory expenses that arise in our everyday lives.
Sometimes, even savings and meticulous planning aren’t enough to pay for things like large assets for your business, a long-overdue international family vacation or even remodelling your home. As Indians, we have certain obligatory expenses that may cost more than planned savings can afford – like giving your daughters their dream weddings, or funding their higher education abroad.
When these expenses arise, there’s no need for even a second’s worry, as Deutsche Bank has you covered. With attractive interest rates, no requirement for security, collateral or a guarantor, and balance consolidation for Personal Loan outstanding, Deutsche Bank personal loans are among the best in the market.
Have you been wanting to take a loan for your business needs? You can apply for a simple and beneficial loan from Deutsche Bank known as the Business Instalment Loan. This loan is designed specifically for small and medium-sized enterprises that deal in operations such as manufacturing, processing, storing, and offering services to customers. In order to apply for this loan, the turnover of the business should be at least Rs.75 lakh. The income of the company should be at least Rs.5 lakh. Moreover, the business needs to be earning profits for at least 2 years before applying for this loan.
Are you interested in applying for an unsecured loan for your business? You could check out the Unsecured Business Loan offered by Deutsche Bank. As the name suggests, you do not have to furnish any security or collateral to apply for this loan. This loan is offered to service providers, manufacturers, professionals of small and medium-sized enterprises (SMEs), traders, etc. One can utilise this loan for liquid cash needs, for expanding operations, for handling business expenditures, etc. The minimum loan amount provided by this loan is Rs.10 lakh and the maximum amount offered by this product is Rs.50 lakh.
Personal Loans from Deutsche Bank can be taken for amounts from Rs.50,000 to Rs.15,00,000 – and can be repaid in tenures stretching from 12 months to 48 months. It provides you with the flexibility you need to repay your loan on excellent terms.
The application and documentation procedure for Deutsche Bank personal loans has been streamlined through tried and tested methods internationally. All you’ll need is one photo ID, proof of your address, a signature verification, and a document that proves your declared age. Submit these along with your application and you’re on your way to securing a loan from one of the best banks in the world.
Suppose you’ve taken a loan in the past at a high rate of interest. It may have been an uninformed decision, or you may have had your hands tied and had only a high-interest loan option available to you. Whatever the case is, you can transfer your existing loan to Deutsche Bank and pay it back at lower interest rates. You also open the doors to taking an addition loan through Deutsche Bank when you make the transfer of an existing loan.
If you already have a Deutsche Bank savings / payroll / current account, you can take a loan at the current interest rates without even having to any income documentation.
Deutsche Bank prides itself on streamlined and efficient banking processes. It takes a lot to be an industry leading financial services provider, and Deutsche Bank has risen to the top by providing personal loans to those who need it, when they need it. Quick approval means quick sanctioning and quick utilization of the loan amount that’s been credited to your account.
Deutsche Bank offers personal loans at competitive rates. Following the issue of new guidelines by Reserve Bank of India, interest rates on new loans will be calculated based on the new MCLR system. Loans already taken will continue to be charged interest according to the Base Rate applicable. However, if existing borrowers wish to switch over to the new MCLR system, they may do so by contacting the bank regarding the same.
MCLR (Marginal Cost of funds based Lending rate) is the new system of calculating interest put in place by the RBI with effect from April 1, 2016. MCLR is subject to regular revisions and is dependent on various factors like repo rate, tenure, cost of maintaining cash reserve ratio (CRR), etc. Following is the MCLR rate applicable on personal loans with effect from June 7, 2016. The rates will be valid till the next review.
|1 month MCLR||8.55%|
|3 month MCLR||8.75%|
|6 month MCLR||9.25%|
|1 year MCLR||10.05%|
For new personal loans, the bank will calculate interest rate based on the MCLR, along with the tenure for which the loan has been taken. The bank can alter the final rate of interest by adding a certain percentage over and above the existing MCLR and certain other factors. The MCLR will be determined and applied as per the guidelines issued by the Reserve Bank of India and is subject to change from time to time.
With effect from October 19, 2015, Deutsche Bank revised its Base rate which currently stands at 9.20% per annum. The Base Rate will be determined and applied as per the guidelines issued by the Reserve Bank of India and is subject to change from time to time.
Existing personal loan borrowers who do not wish to switch over to the MCLR based interest rate system can continue paying interest on their loan as per the Base Rate system. The bank can revise the final rate of interest after adding a certain percentage over and above the current Base Rate, which is subject to change without prior notice.
Note: Rates mentioned above are subject to change from time to time, without prior notice. The MCLR rates given above are effective as of April 1, 2016. To find out the currently applicable interest rates on personal loans, please contact the bank at the time of applying for the loan.
Minimum age: 25 years.
Maximum age: 60 years.
Minimum income: Rs.25,000 monthly take home.
Mandatory telephones at both home and office.You will also require the following set of documents:
Photo ID proof: Like a valid Passport, PAN Card, Driver’s License, Voter’s ID, etc.
Proof of Address: Like a valid Passport, Driver’s License, Voter’s ID, etc.
Proof of Signature: Like a valid Passport, Banker’s Certificate, Driver’s License, PAN Card, etc.
Proof of Age: Like a valid Passport, Banker’s Certificate, Driver’s License, Birth Certificate, etc.
Knowing how much you’ll be paying as EMI each month is important. It is for this reason that BankBazaar.com has integrated a fully functional and easy-to-use Personal Loan EMI Calculator tool on its website.
The Bank Bazaar Personal Loan EMI Calculator requires you to simply fill in your loan amount, tenure and interest rate in the pre-allotted slots. Simply enter the information, click on “Calculate” and the EMI calculator will take you to a page which has graphical representations of your loan breakup, amortization, repayment details, interest and principal components, etc. in an easy to understand format.
Deutsche Bank offers personal loans only for salaried individuals earning more than the minimum stipulated amount per month depending on the city of their residence. The minimum monthly income required for Deutsche Bank personal loan is Rs. 50,000 per month. If you fall into this group, you can definitely apply for a Deutsche Bank personal loan.
You can repay the loan in Equated Monthly Installments (EMI's) using the ECS facility or through post-dated cheques.
Deutsche Bank offers personal loans as high as Rs. 15 Lakhs for successful applicants depending on their financial record and repayment history.
Deutsche Bank offers personal loan with a tenure period ranging from 12 months to 48 months making it suitable for all loan seekers.
At present, only existing customers of Deutsche Bank can apply for a personal loan
You can apply for a Deutsche Bank personal loan through the following avenues:
Deutsche Bank offers a default interest rate of 24% per annum on personal loans.
Depending on an individual’s eligibility, income he or she draws and capacity to make repayments, an individual can apply for personal loans ranging from a minimum of Rs 50,000 to a maximum of Rs 7.5 lakhs.
Repayments can be made through EMIs (Equated Monthly Installments). The loan amount will be paid out via standing instructions that are set up to debit your Deutsche Bank account with the required installment amount.
In order to acquire a loan through Deutsche Bank, no security, collateral or guarantors are required to be provided.
Personal loan tenures can range from 12 - 36 months. Repayments can be made over the loan period you choose.
In order to avail of a Deutsche Bank Personal loan, all applicants are required to fulfil the following eligibility criteria:
After the submission of your personal loan application form as well as all the relevant supporting documents, the bank will usually approve your application within 7 working days. However, any and all loan application approvals are subject to the discretion of the bank.
You can opt to pay out your personal loan before maturity any time after 6 months from the date of disbursal of the loan. However, a foreclosure charge of 5% of the principal outstanding on the loan is applicable. Part prepayment of the loan is not permitted.
Currently, Deutsche Bank only offers personal loans at Bangalore, Chennai, Mumbai and NCR
The additional charges you may incur are:
Both salaried as well as self-employed individuals are required to provide the following documents in order to avail of a personal loan:
*This article is provided only for consumer information on an as is where is basis and BankBazaar does not claim or represent to be connected with Deutsche Bank Limited. For further information about any of the products mentioned above please contact Deutsche Bank.
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