DCB Bank Personal Loan Interest Rate

DCB Bank
4.5

DCB Bank provides salaried customers with personal loans up to Rs. 5 lakhs in the regions of  Greater Mumbai, Delhi NCR, and Hyderabad. The loan amount can be utilised for various purposes, including paying for weddings, vacations, wedding-related expenses, and debt consolidation. Read this article to learn about the main features of a personal loan from DCB Bank. DCB uses its end-to-end digital approach to deliver instant preapproved loans to selected customers.

  • DCB Bank Personal Loan Interest Rate

    Personal Loan offer for You

  • 13% - 25%

    Interest Rate (p.a.)
  • ₹1L - ₹5L

    Tenure(1 - 5 Years)
  • ₹2,275 - ₹2,935

    EMI Per Lakh

Check Latest Personal Loan Interest Rate of DCB Bank

  • DCB Bank Personal Loan Interest RatePersonal Loan offer for You
  • 13% - 25%

    Interest Rate (p.a.)
  • ₹1L - ₹5L

    Tenure(1 - 5 Years)
  • Up to 3% of loan sanctioned

    Processing Fee

Compare DCB Bank Personal Loan Interest Rates with Other Banks

The table below compares DCB Bank Personal Loan Interest Rates with other banks and lending institutions. 

  • Starting Interest Rate (p.a)
  • Processing Fee
  • Rating
  • Min. Loan Amount
  • Axis Bank Personal Loan Interest Rate

    Axis Bank PL Interest Rate

  • 10.49% - 22%

  • up to 2% of the loan amount + GST as applicable

  • 4.5

  • ₹50K - ₹40L

    Tenure(1 - 7 Years)

  • 50 K
  • 1 Cr
Years
  • 1
  • 5
%
  • 8
  • 25

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

DCB Bank Personal Loan Interest Rates 2023

The DCB Bank Personal Loan Interest rates range between 13% per annum and 25% per annum. However, it is to be noted that the interest rate offered to applicants varies based on their CIBIL score, credit history and financial profile of the applicant. An applicant with a satisfactory credit history can avail of the lucrative interest on the loan amount of up to 5 Lakhs. 

DCB Bank Personal Loan Scheme 

The DCB Bank personal loan scheme is a financial product that allows the applicant to avail of funds to pursue their projects. An individual invested to avail of this loan product can refer to the following details. 

Loan Amount  Rs 1 Lakhs - Rs 5 Lakhs
Interest Rate (Floating)  13% per annum - 25% per annum 
Processing Fee  2% of the loan amount along with the GST 
Loan Tenure  One to Five Years 

DCB Bank Personal Loan Interest Rates for Salaried and Self-Employed

The DCB Bank Personal Loan Interest rate for the salaried and self-employed individuals varies based on the application. The bank evaluated factors such as the CIBIL score, income and credit history to determine the applicant's creditworthiness. The DCB Bank Personal loan interest rate can range between 13% per annum and 25% per annum. 

DCB Bank Personal Loan Interest Rate for Salary Account

The existing customers can avail of discounts on DCB Bank Personal loan interest rates and processing fees. Customers can reach out to their nearest branch for more information. 

DCB Bank Pre-Approved Personal Loan Interest Rate

The DCB Bank provides pre-approved interest rates on personal loans. The borrower must reach out to the nearest branch of the DCB Bank and provide relevant information such as their income statement, CIBIL Score and credit history to obtain the pre-approved interest rate on personal loans to budget their loan accordingly. 

DCB Bank Personal Loan Balance Transfer Interest Rates

The DCB Bank also allows the borrowers to transfer their loans to the DCB Bank to leverage off the reduced interest rate. 

DCB Bank Personal Loan Interest Rates and Charges

The following table showcases the charges levied by the bank to process the personal loan application. 

Loan processing fee /Charges (Non-refundable) 2% - 3% of the Loan Amount
Collection Charges In the event of the Borrower(s) committing default in the repayment of loan dues, the Bank shall levy ‘Collection Charges’ of 'INR 100' plus applicable taxes per call and 'INR 250' plus applicable taxes per visit made to recover these dues and the cost(s) thereof will be borne by the Borrower(s). These Collection Charges are subject to change at the Bank’s discretion.
Prepayment Charges  5% of Outstanding Principal
Penal Interest 36% p.a./ 3% p.m. of the irregular/overdue amount on account of delay in payment of interest/repayment of principal
Cheque /ECS Swap Charge Rs. 500/- per event + applicable taxes
Cheque Bounce Charge INR 750/- per event + applicable taxes. 

Factors Affecting DCB Bank Personal Loan Interest Rates

The DCB Bank Personal Loan interest rates vary based on the loan application. The bank evaluates the following factors, which ultimately impact the DCB Bank Personal Loan Interest Rates. 

  • The interest rate offered to the applicant is based on the applicant's creditworthiness. The bank meticulously examines the applicant's credit history and CIBIL score to determine and compute the interest rate. A satisfactory CIBIL score indicates that the borrower has been diligent with repayment.
  • A good and consistent income stream would help the borrower to obtain lucrative interest rates on the personal loan. A borrower whose monthly income exceeds the EMI payable can be offered lucrative rates.
  • The loan tenure also impacts the interest rates significantly. As the bank offers lower interest rates for lengthier tenure. Because the borrower has to pay interest for a more extended period. 

DCB Bank Personal Loan Interest Rateb Canculation

The DCB Bank employs the following formulae to calculate the interest on Personal loans. 

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Here, 

‘P’ stands for the Principal amount,

‘R’ stands for the interest rate, 

And 

‘N’ stands for the tenure.

One can also employ a DCB Bank Personal loan calculator, which enables the user to compute the interest on the loan amount from the comfort of their home. This AI-powered calculator allows the user to instantly calculate the interest payable and EMI on the personal loan. 

How to Get Low-Interest Rates on DCB Bank Personal Loan?

One can employ the following methods to reduce the DCB Bank Personal Loan interest rate.

  • Maintain a healthy CIBIL score to ensure that the financial institution offers a lucrative interest rate.
  • The borrower can also apply for a smaller loan to decrease the repayment burden and avail of a low-interest rate.
  • The borrowers can also utilise various Personal loan EMI calculators available online to compare and compute the loan amount and tenure that complements their budget.  

Keynotes DCB Bank Personal Loan Interest Rates

DCB Bank offers lucrative interest rates on personal loans to utilise the funds for personal projects. The bank has established a hassle-free application process so that loans can be disbursed quickly with minimal documentation. One can also avail of flexibility in the loan tenure.

Frequently Asked Questions (FAQs)

What is the current interest rate of DCB Bank personal loan?

The DCB Bank Personal loan interest rate ranges from 13% to 25% per annum.

How can I reduce my interest in DCB Bank personal loans?

The applicant can maintain a satisfactory CIBIL Score to obtain a lower interest rate on personal loans.

Is DCB Bank personal loan a floating-rate loan or a fixed-rate loan?

The DCB Bank Personal Loan Interest rate is a floating-rate loan.

Do DCB Bank demand collateral or security for personal loans?

No, the lending institution does not demand any collateral for personal loans.

Can individuals pay off their DCB Bank loans EMI early?

One can make the prepayment on the loan after making the first 12 EMIs on the personal loans.

What is the EMI for a 1 lakh personal loan?

The EMI on the personal loan would depend on the interest rate offered by DCB.

What is the EMI for a 10 lakh personal loan?

The EMI on the Personal Loan would be with respect to the interest rate offered by the lending institution.

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