Deutsche Bank Personal Loan

Benefits And Features of Deutsche Bank Personal Loan

Deutsche Bank is a global investment bank with a presence in over 70 countries. Offering robust financial and banking services, its clientele encompasses all from corporates and institutions to individual professionals. The Deutsche Bank Personal Loan is a flexible option to extract funds in times of need. With an easy application process and minimal documentation, it offers a personal loan of up to Rs. 15 lakh. The bank also allows easy loan balance transfer and facilitates quick disbursals.

Here are the exclusive features and benefits of Deutsche Bank Personal Loan.

• You can avail of a minimum personal loan of Rs.50,000 and a maximum of Rs.15 lakh.
• Your minimum monthly salary must be Rs. 25,000 to apply for Deutsche Bank Personal Loan.
• The minimum and maximum age to apply for Deutsche Bank Personal Loan is 25 years and 60 years, respectively.
• Deutsche Bank's personal loan processing fee is 2% of your total loan amount.
• The rate of interest is 24% by default.
• For a fixed interest rate, you have to pay a 5% processing fee of your loan amount.
• The repayment tenure is 12 months to 48 months only.
• If you already have an account in Deutsche Bank, you can get a personal loan at competitive interest rates.
• You can also avail the bank loan transfer facility. You can transfer your loan from a different bank to a Deutsche Bank at a lower interest rate.
• You have to go through minimal documentation.
• Your personal loan application will be processed quickly once approved. In a few hours, the amount will reflect in your account.

Deutsche Bank Personal Loan Eligibility Criteria

Here are four primary Deutsche Bank personal loan eligibility criteria. 

Eligibility Criteria	Must be existing customer
Mini. Age	25 years
Max. Age	60 years
Salary	Rs. 25,000 or above monthly
Contact Number	Must be available at both office and residential address

Deutsche Bank Fees and Charges

Depending on the type of interest rate (fixed or variable), the loan processing fee charged at Deutsche Bank is 2% of the total personal loan amount. The default rate of interest is 24%.

Deutsche Bank Personal Loan Interest Rates 

Particulars	Loan Details
Interest Rate	Up to 24% p.a.
Tenure of Loan	Up to 48 months (4 years)
Amount of Loan	Rs.50,000 - Rs.15 lakh
Status of Employment	Person must be salaried or self-employed
Credit or CIBIL Score	750 and above
Lowest EMI on every Lakh	Rs. 2,877
Pre-Payment or Foreclosure Charges	Loans at floating rate with no charge fixed rate loans at 5%
Part Payment	Not allowed
Overdue EMI Interest	24% per annum

Note: The EMI of Rs. 2,877 is calculated with a principal amount of Rs. 1 lakh. The default interest rate is 24%. A tenure of 5 years and a processing fee of 2% of the loan amount is also added.

Note: The EMI of Rs. 2,877 is calculated with a principal amount of Rs. 1 lakh. The default interest rate is 24%. Tenure of 5 years and a processing fee of 2% of the loan amount is also added.

Factors Affecting Deutsche Bank Personal Loan Interest Rates

Here are some prominent factors affecting Deutsche Bank's personal loan interest rates. 

• Credit Rating: Credit score plays a crucial role when it comes to applying for a personal loan. A good credit score means you will repay your loan on time. This will help you in getting a better rate of interest from Deutsche Bank. You must have a score of 750 or more. 
• A Good Job: You must have a stable and high earning job. As a self-employed individual, you must earn a steady profit from the ongoing business for at least two years. Whether employed or running your own business, a stable income marks you as a trustworthy borrower with a good repayment capacity. 
• Higher Income: You must have a higher income to get a better rate of interest on your loan amount. 
• Loan Repayment Tenure: If you choose to repay your loan over a long tenure, Deutsche Bank will charge you a lower rate of interest.
• Relationship with the Deutsche Bank: If you have a good relationship with Deutsche Bank, you can have several benefits. You can even have the best offers over your current interest rates.

For a fixed rate of interest, the processing fee is 5% of the total personal loan amount.

Documents Required for Deutsche Bank Personal Loan

To apply for Deutsche Bank Personal Loan, you have to submit certain documents, such as an address, identity, signature and age proof. You can submit any one document for each category from the ones mentioned below. 

Address Proof	Identity Proof	Age Proof	Signature Proof
Your Passport	Your Passport	Your birth certificate	Your DL (Driving Licence)
Your DL (Driving Licence)	Your DL (Driving Licence)	Your Aadhaar card	Banker’s certificate
Job card given by NREGA	Aadhaar card	Your Passport	PAN card
Aadhaar card	Voter ID card	Voter ID card	Your Passport
Voter ID card	Job card given by NREGA

How Does the EMI Calculation Work for Deutsche Bank Personal Loans?

In Deutsche Bank, you can repay a personal loan between 24 months to 48 months in regular EMIs. However, depending on your monthly paying capacity, you can select the repayment tenure. You can also take the help of Urban Money's Personal Loan EMI calculator to do the same. 

Enter all information, such as the principal amount, rate of interest and term of the loan. Press the enter button, and the result will be displayed on the screen. 

The formula for calculating Deutsche Bank Personal Loan EMI is as follows:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1] 

Where,

• EMI stands for Equated Monthly Instalments
• N stands for Number of Monthly Instalments
• P stands for Principal Amount
• R stands for Rate of Interest

How Does Deutsche Bank Compare With Other Lenders?

Get a comparative overview of Deutsche Bank Personal Loan against other banks and NBFCs. 

Banks/NBFCs	Interest Rates (per annum)
Deutsche Bank	24.00%
Bajaj Finserv	13.00%
Tata Capital	10.99%
SBI	9.60%
HDFC Bank	10.25%
ICICI Bank	10.25%
Kotak Mahindra Bank	10.25%
Axis Bank	10.25%
PNB	7.90%
IndusInd Bank	10.49%
IDFC First Bank	10.49%
Clix Capital	14.99%

Deutsche Bank Personal Loan Customer Care Number

Deutsche Bank provides different contact methods to resolve their customer issues regarding personal loans. Customers can ask about their personal loan application status, approval, interest rate, repayment methods, etc. 

• Toll-free number: 1800 123 6601
• Phone banking number: 1860 266 6601
• Phone banking number (abroad): +91 22 6601 6601
• Phone banking number (Mumbai): 6601 6601
• Email address: [email protected]
• Deutsche Bank email address for complaints: [email protected]