Development Credit Bank Personal Loan Features
|Development Credit Bank Personal Loan Eligibility Criteria||Details|
|Development Credit Bank Personal Loan Interest Rate||9.75% p.a.|
|Development Credit Bank Personal Loan Lowest EMI per lakh||Rs 2112|
|Development Credit Bank Personal Loan Tenure||12 to 60 months|
|Development Credit Bank Personal Loan Processing Fee||1% to 2% of Loan Amount|
|Development Credit Bank Personal Loan Prepayment Charges||Allowed after 12 Months (2 – 4 %)|
|Development Credit Bank Personal Loan Part Payment Charges||Allowed after 12 Months (2 – 4 %)|
|Development Credit Bank Personal Loan Min Loan Amt||₹ 50,000|
|Development Credit Bank Personal Loan Max Loan Amt||₹ 75 Lakh|
About Development Credit Bank Personal Loan
Development Credit Bank’s products and services range from loans for Small and medium enterprises and mid Corporate customers, to Loans for individual needs such as home loan, loan against gold, commercial vehicle loan and small business loan. If you want to make your dreams come true but don’t have enough money then take Development Credit Bank Personal Loan.
What is Development Credit Bank Personal Loan ?
Banks and NBFCs, provide a personal loan according to your profile. Loannow will allocate you according to your eligibility and provide you with every possible help. A Development Credit Bank Personal Loan is a convenient and easy way to take credit for an immediate requirement. A loan, in which you don’t have to pledge your personal belongings to the banker looks the best solution to the problems you’re dealing with.
Why Development Credit Bank Personal Loan ?
- First of all, the documentation criteria in the personal loan are straightforward
- In the second place, an applicant applying for a personal loan can know his/her ability in just 1 minute, across all branches.
- In addition, the interest rates for personal loans are highly competitive.
- Besides, the interest rates are affordable and flexible
- As well as, the processing fee is very low, and there are no hidden charges.
- Furthermore, the loan amount gets disbursed within two days.
- Moreover, there are special interest rates for women.
Development Credit Bank Personal Loan Documents
Simple and easy documentation for Development Credit Bank Personal Loan (though documentation varies from individual to individual). The document requirement is based on your profession, income and loan requirement.
- Identity proof: As a verification document, one should especially require one among the following: (Passport/Id card/voter card/driving license/Aadhar Card) any one of them.
- Residence proof: The documents required as proof of residence are: (Passport/Id card/voter card/driving license/Ration Card/Aadhar Card). And the applicant living in a rented apartment, then he has to submit his rental agreement, electricity bill on his name and the address of the owner.
- KYC formality: The applicant has to provide his PAN card which is an important document
- Salaried applicant: One has to submit his bank statements of the last six months and the salary slip of the last three months.
- Self-employed Applicant: The person applying for a personal loan should file ITR for the last three years, and the business should be registered.
- And if the applicant is self-employed, then they have to submit the ITR of the last three years and his business should be registered.
- Two colored passport size photos. (Applicant should not be wearing glasses)
Development Credit Bank Personal Loan Eligibility
Not everyone can apply for personal loan, an applicant have to follow some eligibility criteria based on which bank approves the applicant’s request. There are two categories of applicants:
There are various eligibility criteria for both applicants.
- The minimum required age of an applicant must be between 21 years to 60 years.
- A metropolitan city borrower should have a minimum income of Rs 18,000. And for non-metropolitan city, the minimum salary should be Rs 12,000.
- The work experience of the borrower should be of three years, and the salary should be received in their account only.
- A person applying for the personal loan should have a good credit history.
- The required age of a self-employed person should be of 25 years.
- The person should file ITR for the last three years, applying for a personal loan.
- An applicant must have a good credit score must, and there should not be any debt left due.
- The minimum amount should be of Rs 2.5 lakhs per annum at least.
- The business should be running for at least from last three years, if the applicant own a business.
There are multiple portals from where you can get better options of Personal Loan but LoanNow.in offers you a complete and easy guideline. LoanNow.in is an unbiased comparison platform for banking related products. Alongside influencing your procedure to free from documentation bothers, we also offer satisfactory assistance regarding banking. We understand the value of your needs and likewise recommend plans. We endeavor to make your money related arranging as simple and fair as possible.
* Interest rate can vary as per individual’s portfolio.
* All loans repayment period are over 6 months. No short term loans.
* We don’t charge the individual for the process.
* Credit at sole discretion of the Banks we have a tie-up with.