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.
DBS Personal Loan – Eligibility Calculator
You can use the online eligibility calculator available at Paisabazaar for the calculating your loan eligibility accurately and quickly. There are simple steps to be followed and you can check your eligibility:
- Click here
- Fill your basic details like occupation, required loan amount, monthly income, mobile number and city
- Click on ‘Proceed’
- You should be at least 22 years old
- Your maximum age should be 60 years at the time of loan maturity
- You should either be a salaried professional or a self- employed individual
- Your minimum monthly income should be Rs. 20,000
What Are the Factors Affecting DBS Bank Personal Loan Eligibility?
A CIBIL (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
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
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
How to Improve Your DBS Bank Personal Loan Eligibility?
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
- Proof of identity: Aadhaar card/passport/voter ID/Driver’s licence / ration card/ PAN card
- Proof of address: Aadhaar Card/passport/voter ID/Ration Card
- Proof of salary: Salary slips/bank account statements
- Form 16 with information on income tax returns
- Passport sized Photographs
You can call at 1860 267 1234 or 1800 209 4555
You can fill a form if you want a call from DBS customer care
You can book an appointment here
Frequently Asked Questions
Ques: I am a doctor. Am I eligible for a personal loan from DBS Bank?
Ans: Yes, you can avail a personal loan from DBS bank if you meet the minimum salary criteria and submit income proofs and other necessary documents.
Ques: Is it possible to change my interest rate and processing fee?
Ans: No, the interest rate and processing fee for a personal loan is based on your eligibility so there is no provision for changing the interest rate or processing fee that is offered by the bank.
Ques: Why has DBS Bank rejected my personal loan application?
Ans: There can be many reasons for the rejection of your personal loan application. Some of the prime reasons are:
- Low credit score
- Unable to meet the eligibility criteria
- Unable to submit the necessary documents
- Unable to maintain a healthy relationship with the bank
Ques: If my monthly salary is below Rs. 20,000, will I still get a personal loan from DBS Bank?
Ans: DBS Bank offers a personal to those individuals whose monthly salaries are Rs. 20,000 or above. Still, you can get in touch with the bank and can try for a loan.
Ques: What should be my credit score to be eligible for DBS Bank personal loan?
Ans: Your credit score should be at least 750 or above to be eligible for DBS Bank personal loan.