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Deutsche Bank Personal Loan Details

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Deutsche Bank Personal Loan Details Updated on
Loan Amount Rs. 50,000 to Rs. 15 lakh
Loan Tenure 12 months to 48 months
Interest Rate Up to 24% per annum
Processing Fee Up to 2% of the loan amount

Deutsche Bank Personal Loan allows you to avail finance for urgent financial needs. It offers minimal documentation, flexible terms, and quick approval. Existing customers of this bank can get access to up to Rs. 15 lakh depending on their eligibility for the loan. You can use the funds for child’s education, vacation, big-ticket purchases, medical emergency, and any other expenses. Salaried individuals/self-employed people with at least Rs. 25,000 and above per month as income can apply for the loan.

In this post, we will discuss Deutsche Bank Personal Loan features, eligibility criteria, interest rates, documents required, and FAQs.

Features of Deutsche Bank Personal Loan

Here are the Deutsche Bank Personal Loan features:

  • You can get from Rs. 50,000 to RS. 1,500,000 as loan
  • Tenure is from 1 year to 4 years
  • The bank has an easy-to-apply process as the documentation procedure is simple
  • You can benefit with balance transfer at current interest rates or lower
  • You can also get a top-up loan according to your eligibility
  • No part payment is allowed for fixed rate loans. There are no prepayment charges for floating rate loans, but part payment is allowed
  • Prepayment charges for fixed rate loans are 5% of the outstanding principal if you close the loan in 1 year from disbursal
  • Prepayment charges is 3% of the principal outstanding for fixed rate loans if the closure is after a year from disbursal

Deutsche Bank Personal Loan Eligibility Criteria

Here are the eligibility criteria:

  • Salaried/self-employed individuals with savings account with Deutsche Bank can apply for a personal loan
  • The age group limit for applicants is 25 years to 60 years
  • The monthly take-home of the applicant should be Rs. 25,000 and above
  • Also, for verification and communication purposes, you have to provide telephone numbers of residence and office

Deutsche Bank Personal Loan Interest Rates

The interest rate on a personal loan by Deutsche Bank is up to 24% per annum. But that is the maximum limit usually. The decision on the lending rate depends on the borrower’s credit score, income, loan amount, tenure, age, and other financial or professional details.

Documents Required for Deutsche Bank Personal Loan

Here are the documents required for the loan application:

  • Duly completed and signed personal loan application form
  • Photo identity (any one) – Photo PAN Card, valid Driving Licence, Passport, Aadhaar Card, Job card issued by NREGA signed by a State Government Officer, a letter issued by the UIDAI
  • Address proof (any one) – Aadhaar Card, Voter’s ID Card, Passport, Driving Licence, a letter issued by the UIDAI, Job card issued by NREGA signed by a State Government Officer
  • Age proof (any one) – PAN Card, Birth Certificate, Driving Licence, Passport, Job card issued by NREGA signed by a State Government Officer, Voter’s ID Card, Aadhaar Card, a letter issued by the UIDAI
  • Signature proof (any one) – Banker’s Certificate, PAN Card, Driving Licence, Passport
  • Financial documents – latest 3 months salary account statement, 1 latest payslip

Frequently Asked Questions for Deutsche Bank Personal Loan

Here are the Deutsche Bank Personal Loan FAQs:

After submission of the supporting documents, the bank will verify the same. It shall approve the loan in a week, or 7 working days if all the documents are in place.

The loan is free of collateral. It is an unsecured type of loan, which you will receive on the basis of your credit score, disposable income, and other conditions.

You have to repay the loan in EMIs (Equated Monthly Instalments). It is possible to repay the loan through a debit from Deutsche Bank Account.

If your EMI is unpaid/delayed/overdue, then the penal interest rate per annum is 24% on the outstanding amount payable.

Charge per instance for Cheque bounce/unsuccessful execution of ECS/Standing Instruction/NACH is Rs. 500. Charges for Post-dated cheques/NACH/SI Swap/ECS is Rs. 500. The non-refundable administration fee is up to 2% of the loan amount.

Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Deutsche Bank.

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