DNS Bank Personal Loan
Dombivli Nagari Sahakari (DNS) Bank offers personal loans at an attractive interest rate that come with a maximum repayment tenure of 5 years.
- Loan amount of up to Rs.5 lakh
- Quick and hassle-free loan approval process
- Repayment tenure of up to 5 years
- Choice between 2 types of personal loan schemes
Features and Benefits
- Customers can avail a personal loan of up to Rs.5 lakh.
- Minimum documentation required.
- The repayment tenure is up to 5 years.
- Avail loans to clear debts, purchase consumable items, fund a holiday, etc.
- Offered at attractive interest rates.
- Quick loan approval and disbursement process.
Personal Loan Schemes offered by Dombivili Nagari Sahakari Bank
(i) Utsav Loan Scheme
Interest Rate | Loan Amount | Processing Fees |
11.95% for general and for women applicants | Up to Rs.1 lakh | 1% of the loan amount availed with the minimum loan amount being Rs.500 |
(ii) Suvidha Loan Scheme
Interest Rate | Loan Amount | Processing Fees |
11.95% for general and for women applicants | Up to Rs.5 lakh | Based on the terms and conditions as set by DNS Bank |
Documents Required
Listed below are the documents that applicants need to submit for a personal loan:
- Proof of address - Passport, Aadhaar card, Ration Card, etc.
- Proof of age - Birth Certificate, Passport, Aadhaar Card, etc.
- Proof of identity - Passport, Aadhaar Card, Voter ID card, etc.
- Bank statements.
- Proof of IT returns of the last 2 years.
- Passport-size photographs.
Eligibility Criteria
Listed below are the eligibility criteria to apply for a loan from DNS Bank:
- To apply for the Utsav Loan Scheme, the applicant should be a salaried individual or a self-employed professional.
- Should be a resident of India.
Age | As per the terms and conditions set by DNS Bank |
Employment Status | Salaried individual or self-employed individual |
Citizenship | Resident citizen of India |
Minimum Net Salary | As per the terms and conditions set by DNS Bank |
How the EMI Calculation for DNS Bank Personal Loan Work?
Let's assume that Mr. Rojer availed a personal loan of Rs.50,000 at an interest rate of 10% p.a. from DNS Bank for a tenure of 1 year. The processing fee is 1% of the loan amount availed by the customer.
Year | Principal Paid(A) | Interest Paid(B) | Total Payment (A+B) | Outstanding Loan Balance |
2023 | 37,028 | 2,534 | 39,562 | 12,971 |
Apr | 3,979 | 417 | 4,396 | 46,021 |
May | 4,012 | 384 | 4,396 | 42,009 |
Jun | 4,046 | 350 | 4,396 | 37,963 |
July | 4,079 | 316 | 4,395 | 33,883 |
Aug | 4,113 | 282 | 4,395 | 29,770 |
Sep | 4,148 | 248 | 4,396 | 25,622 |
Oct | 4,182 | 214 | 4,396 | 21,440 |
Nov | 4,217 | 179 | 4,396 | 17,223 |
Dec | 4,252 | 144 | 4,396 | 12,971 |
2020 | 12,970 | 216 | 13,186 | 0 |
Jan | 4,288 | 108 | 4,396 | 8,683 |
Feb | 4,323 | 72 | 4,395 | 4,359 |
Mar | 4,359 | 36 | 4,395 | 0 |
For the repayment tenure of 12 months, and with the addition of the processing fee, interest rate over the principal loan amount, Mr. Rojer will have to pay an EMI (Equated monthly installment) amount of Rs.4,395.
Compare DNS Bank Personal Loan with Loans from others Lenders
Particulars | DNS Bank Utsav Personal Loan | HSBC Bank Personal Loan | Citibank Personal Loan | SBI Personal Loan |
Interest rate | 11.95% p.a. | 10.15% p.a. to 16.00% p.a. | 10.99% p.a. to 18.00% p.a. | 11.45% p.a. onwards |
Processing fee | 1% of the loan amount for minimum loan amount of Rs.500 | 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 | Based on the terms and conditions set by DNS Bank | Up to 3.75% of the outstanding principal amount | As per the terms and conditions of the bank | 3% of the outstanding loan amount |
FAQs on DNS Bank Personal Loan
- Will I receive the loan amount in cash or cheque?
No, you will receive the loan amount in the bank account that you have mentioned in your personal loan application form.
- Do I need a guarantor to apply for a DNS Bank personal loan?
For both the Utsav Loan Scheme and the Suvidha Loan scheme, the personal loan applicant has to submit details of 2 guarantors.
- Is it possible to close the personal loan before the set repayment tenure?
Yes, you can pre-pay the personal loan, but the foreclosure charges will be based on the terms and conditions as set by the bank.
- Where can I apply for a personal loan from DNS Bank?
You can apply for a personal loan at the nearest branch of DNS Bank or at the DNS bank branch you hold an account with.
- Do I need to give security or collateral to avail a personal loan from DNS Bank?
In the case of the Utsav loan scheme, the applicant has to provide hypothecation of the article purchase as security and for the Suvidha loan scheme, the applicant has to submit Group Insurance in his/her name and of the co-borrower as security.
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