DBS Personal Loan Eligibility

DBS personal loan helps an individual to meet his diverse financial needs by instantly offers a loan upto Rs. 15 lakh. From a wedding to a medical emergency to home renovation to higher studies, everything can be managed by availing DBS personal loan. The paperless loan is offered to you along with flexible tenure, easy loan repayment option and attractive interest rate.

You can use the online eligibility calculator available at Paisabazaar for the calculating your loan eligibility accurately and quickly

Eligibility Criteria

What Are the Factors Affecting DBS Bank Personal Loan Eligibility?

Credit score:

A credit score is a 3- digit numeric summary that is calculated by credit bureaus to determine your credit- worthiness. In order to avail a DBS Bank personal loan, a credit score of 750 or more is required
Income: Whether you are a salaried professional or a self- employed individual, you need to have a regular source of income. DBS takes into consideration your take- home pay to know if you will be able to repay the loan on time or not. If your take-home pay is as low as Rs. 15,000 or Rs. 18,000, you might not be considered for a personal loan. Therefore, higher the income, higher will be the chances of availing a personal loan

Location:

The city you reside in also plays an important role in your personal loan eligibility as the minimum salary requirement various from cities to cities. The minimum salary amount is usually higher in metropolitan cities like Mumbai and Delhi/NCR as compared to other cities

Employer:

Having a government job or working for a reputed company for more than a year indicates stability and your chances of being eligible for a personal loan improves. If you keep on switches jobs after every 6-8 months or don’t work with a reputed organisation, you might not be approved for a DBS Bank personal loan

Maintain your credit score: Credit score is one of the most important factors that is taken into consideration while approving a personal loan. If your credit score is 750 or above, DBS Bank will consider you as a reliable applicant
Pay off your existing loans: While applying for a personal loan, ensure that you do not have existing loan payments. The lender might feel that you are already paying other EMIs and might not be able to repay one more loan on time

Pay your credit card bills on time: If you pay your credit card bills on time, you are considered disciplined with repayments and this gives a boost to your personal loan eligibility

Choose longer tenure: When you select a longer tenure, the lenders believe that you have the capacity to repay the loan for a longer duration and hence consider you credit worthy

Residential or commercial rental income: The income that you earn from the rent of a commercial or residential property, it is considered as a rental income. This income is an add- on to your monthly income and increase your eligibility

Documents Required

Customer Care

You can call at 1860 267 1234 or 1800 209 4555
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