Multiple banks. Different interest rates. Call it a "conflict of interest".
Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Dena Bank Professionals Loan for CA, CS and CFA is Rated as "Satisfactory" by 5 Users

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    Promised Interest Rate

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    Personal Loan BYTES FROM OUR KITCHEN

    Dena Bank Professionals Loan for CA, CS and CFA

    Apply for Personal Loan

    Dena Bank provides a specific loan that is aimed at providing financing for Chartered Accountants, Company Secretaries and Chartered Financial Analysts who are not employed elsewhere but have been income tax assessable for the past two years. This loan features low interest rates and fast approval times.

    Usage of Dena Bank Professionals Loan Scheme for CA, CS and CFA

    This loan is provided exclusively to CAs, CS and CFAs for purposes of business and aiding in ventures that generate income through legal professional means.

    Eligibility Criteria for Dena Bank Professionals Loan Scheme for CA, CS and CFA

    A specific loan meant for professionals in the streams that are defined by the bank, the eligibility criteria to be met in order for the institution to be able to sanction the loan include the following -

    1. Applicant needs to be of the age wherein he’s legally allowed to conduct an enterprise
    2. Applicants in the mentioned streams only are eligible
    3. Applicants shouldn’t be employed elsewhere and must have been assessable for income tax for at least two past years

    Types of Financing under Dena Bank Professionals Loan Scheme for CA, CS and CFA

    The financing modes allowed under this loan can be a demand loan or a term loan with a limited working capital portion.

    Loan limits under Dena Bank Professionals Loan Scheme for CA, CS and CFA

    Based on the credit-worthiness of the applicant, Dena Bank can provide loans from a minimum of INR 2 lakhs to a maximum of INR 100 lakhs. The loan amount will include 20% amount as Working Capital.

    Interest rates for Dena Bank Professionals Loan Scheme for CA, CS and CFA

    Interest rates for this educational loan are to be linked with the base rate of the bank, and are as follows –

    In case of Term Loans –

    1. Repayment within 3 years – 11.20% per annum
    2. Repayment in more than 3 years – 11.70% per annum

    For working capital limits, the interest charged will be 11.20% per annum.

    In case of female borrowers, there is a concession of 0.25% on the rate of interest.

    Margin charged by Dena Bank on this loan is 25% of the project cost.

    The above mentioned rates are as of November 2015.

    Documentation required during applying for Dena Bank Professionals Loan Scheme for CA, CS and CFA

    The standard list of required documents for applying for this loan are mentioned as follows –

    1. Educational qualification certificates
    2. Government approved identity and address proof
    3. Proof of income
    4. Bank statements of the last 6 months
    5. IT returns of the past two years
    6. Other KYC documents as deemed relevant

    Features of Dena Bank Professionals Loan Scheme for CA, CS and CFA

    This educational loan from Dena Bank is a secured loan that requires hypothecation of assets or mortgage of immovable property as security. Collateral might also be required if the applicant doesn’t have a satisfactory credit rating as per the bank.

    The loan process involves minimal documentation and the term loan variant can be repaid within a tenure of 10 years.

    Applying for Dena Bank Professionals Loan Scheme for CA, CS and CFA

    Through Dena Bank’s website the forms can be downloaded, filled and submitted along with relevant documents at a local branch. Additionally, one could call or mail Dena Bank requesting an executive assistance for application process.

    One can also apply for Dena Bank Professionals Loan Scheme for CA, CS and CFA through BankBazaar, wherein eligibility charts, EMI calculators and infographics can guide one through the application process.

    Dena Bank Professionals Loan for CA, CS and CFA Reviews

    • Dena Bank Personal Loan
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I have approached for my home loan with DENA bank. Their interest rate was between 8-9% which is average in the market but I have taken with HDFC bank so cancelled the request here. The customer service and responses was up the mark. My overall experience was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 01, 2017
    • Dena Bank Personal Loan
      "High rate of interest"
      0.5 3.0/5 "Satisfactory"
      Comparing to other banks rate of interest its too high in DENA bank, I am getting 8.45% rate of interest from other banks from my profile. Service was good, but once they called me and informed me the rate of interest I dropped the plan because I am getting low rate of interest in other markets.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Aug 26, 2017
    • Dena Bank Personal Loan
      "Quick and fast service"
      0.5 5.0/5 "Blown Away!"
      When I choose the car loan through the financial channel, I never expected that the Dena bank will do the process so quick and fast. Immediately I got a call from Dena bank executives. The manager also spoke to me and explained the product in a brief. The documentation process was done in a smoother way, I just visited the branch just to do the signing part alone. Within 2 days of time , the loan got disbursed from Dena bank. The rate of interest is bit high, when compared with others. I am happy about the loan amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 17, 2017
    • Dena Bank Personal Loan
      "Least rate in the market"
      0.5 1.0/5 "Really Bad"
      First of all, the rate of interest offered by Dena bank was very high.They were asking for some surety or some sort of collateral security as the amount is huge. Therefore I switched over to HDFC also, the processing fee charged by DENA bank was 2% of the loan amount.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 12, 2016
    • Dena Bank Personal Loan
      "Best interest ...."
      0.5 1.0/5 "Really Bad"
      Dena bank is too good in terms of charges. They offered lower rate of interest when I compare to other banks. But the thing is they were very slow in terms of response. When I approached them for a personal loan they did not called me on time. They should speedup their process.
      Was this review helpful? 4
      , kolkata
      Reviewed on Jan 27, 2016
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