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  • Dhanalakshmi Bank Personal Loan Eligibility

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  • Dhanlaxmi offers personal loans up to Rs.15 lakh to salaried and self-employed individuals above 23 years old. To be eligible for the personal loan, salaried individuals are required to have a minimum monthly salary of Rs.35,000 and self-employed individuals should earn a minimum of Rs.1.8 lakh p.a.

    Dhanlaxmi Bank Personal Loan Eligibility Criteria

    Criteria Salaried Self-Employed
    Age Minimum of 23 years Minimum of 23 years
    Income Minimum of Rs.35,000 per month Minimum of Rs.1.8 lakh per annum
    Work Experience 2 years and above
    • Self-employed professionals – 3 years and above
    • Self-employed non-professionals – total of 5 years of experience and 4 years' experience in current company
    CIBIL Score 750 750
    Residential Status Resident of India Resident of India
    Interest Rate 11% p.a. 11% p.a.
    Loan Amount Rs.1 lakh – Rs.15 lakh Rs.3 lakh – Rs.15 lakh
    Loan Tenure 12 months – 60 months 12 months – 60 months

    Factors affecting Dhanlaxmi Bank personal loan eligibility

    • The age of the applicant: To be eligible for the personal loan, applicants have to be a minimum of 23 years old. Of course, along with the age of the applicant, the experience of the individual is also taken into consideration.
    • The work experience of the applicant: As per the eligibility conditions as set by Dhanlaxmi Bank, salaried individuals need to have 2 years and above of working experience and self-employed professional individuals need to have business experience of 3 years and above. In addition, self-employed non-professionals need to have a minimum of 5 years of business experience and 4 years of experience in the same business to be eligible. The more work experience the applicant has, the better are the chances of him/her being eligible for the personal loan.
    • Loan repayment record of the applicant: To be eligible for the personal loan, the applicant needs to have a good credit score and should not have any pending loan dues.
    • Income of the individual: In the case of eligibility of salaried individuals, the applicant should earn a minimum of Rs.35,000 per month, whereas, self-employed individuals should earn a minimum of Rs.1.8 lakh p.a. to be eligible.
    • Loan amount chosen by the candidate: If loan applicant applies for a loan that is more than he/she can afford to pay back as monthly installments, then Dhanlaxmi Bank will reject the loan application.

    How to improve chances of Dhanlaxmi Bank personal loan eligibility

    • Ensure you have enough work experience: Ensure that you meet the work experience requirement to improve your chances of being eligible for a personal loan.
    • Apply if your credit score is good: Make sure that your credit score is above 750 when you apply for the personal loan offered by Dhanlaxmi Bank to improve your eligibility.
    • Submit the necessary documents on time: Make sure that you submit all the necessary documents on time for verification. You will need to submit proof of identification, address and income proof.
    • Increase the tenure of the loan: If your income is lower, then choose a longer repayment tenure to ensure that the monthly installments are reduced, and this assures the bank that you are capable of paying the EMIs on time.
    • Choose a loan amount based on your income: Do not choose the highest loan amount possible, but choose one based on your income and ability to repay the loan.


    1. Does Dhanlaxmi Bank charge a processing fee for their personal loans?
    2. Yes, Dhanlaxmi Bank charges a processing fee of 2.5% + GST of the loan amount as the processing fee, subject to a maximum of Rs.1,250.

    3. What income documents would I have to submit to the bank to prove my eligibility?
    4. You will have to submit your pay slips, bank statements, IT returns of the last 2 years, Form 16, etc.

    5. Can I change the date of my EMI payment if I’m not able to pay my installment on the set date?
    6. You can change the date of your EMI cycle by writing to the bank or making a request at the bank branch. However, you will need to pay a fee of Rs.200 to chance the EMI cycle.

    7. Is it possible to close my personal loan before the maturity date of the loan?
    8. Yes, you can foreclose your loan after a certain period that is based on the terms and conditions set by the bank. However, will have to pay foreclosure charges of Rs.200 + GST.

    9. Which is the best way of checking if your personal loan application is approved?
    10. Using your Dhanlaxmi Bank net banking account, you can check the status of your personal loan.


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