- Dena Suvidha- A personal loan for salaried individuals.
- Dena Consumer Durable Loan-One can buy consumer durables with this kind of loan.
- Dena Rent Finance- Property owners can avail personal loans which they have let out to banks, PSUs, renowned companies or any FIs.
- Dena Trade Finance- Loans given to dealers, stockist and traders.
- Dena Doctor- Personal Loans to Medical Practitioners.
Particulars of the Loan
- Minimum Loan Tenor is 1 year- One can take the loan for a minimum of 1 year.
- Maximum Loan tenor is 3 years- The maximum loan tenor or the repayment tenor is 3 years.
- Minimum Amount: The minimum amount which needs to be taken is Rs 15000.
- Maximum Amount: The grid of the maximum amount is as follows:
- 3 times of Net Monthly Income for1 year repayment or Rs 1 lakh whichever is less.
- 6 times of Net Monthly Income for2 years repayment
- 9 times of Net Monthly Income for3 years repayment
Permanent and Salaried employees between 24 to 55 years with minimum experience for 2 years in any reputed organization or government or public sector unit.
The Gross Monthly Income should be atleast Rs 15000/-.
Rate of Interest
The rate of interest for Corporate salaried Schemes is fixed at 13% and for all other cases its 14%. The interest is charged on daily reducing balance basis. However, the interest rates can vary from customer to customer and according to the categories of the customers which again is only based on bank’s discretion.
One has the option to make repayment through EMI via ECS (Electronic Clearing System) or SI ( Standing Instruction) to make automated debits from their Dena bank account.
Is Account Opening compulsory?
It’s not compulsory to open savings account with Dena bank, nevertheless it’s desirable to do so as the bank offers quite a lot of additional services to an individual if he/she is the account holder of the bank. And not to mention, it’s much easier to follow the monthly expenses and thus can be kept in record without any difficulty.
Is Part Prepayment allowed?
Part Prepayments are not allowed for personal loans. Either the loan has to be fully paid or serviced as per the contract.