Deutsche Bank Personal Loan
Deutsche Bank provides home loans in India for loan amounts up to 75% of the property's value, with repayment terms of up to 20 years. While Deutsche Bank's house loan interest rates are linked to the 3-month Treasury Bill Rate (EBTL), which is now at 6.85%, the bank has not publicised the home loan interest rates it offers to its applicants.
Features of Deutsche Bank Personal Loan
Quick documentation:
To apply for a personal loan from Deutsche Bank, minimal documentation is required. As a result, you can enjoy a hassle-free and swift approval process. This streamlined approach ensures you get the loan with ease and without unnecessary delays.
Balance transfer:
If you already have an existing loan, you can transfer the balance to Deutsche Bank without hassle. If you have a good credit score, you can also enjoy lower interest rates on your personal loan.
Instant approval:
If you are eligible for the personal loan, you can quickly get your application approved and get the funds transferred to your bank account within no time.
Diversified loan amount options:
Deutsche Bank provides you with a wide range of loan amounts starting from Rs. 50,000 to Rs. 15 lakh catering to all your personal expenses.
Repayment tenure:
You can choose a convenient period to repay your loan amount from 12 to 48 months based on your financial comfort.
Deutsche Bank Personal Loan Details
Interest rate | 10.75% p.a to 11% p.a |
Loan amount | Upto Rs. 15 Lakh |
Processing fees | Up to 2% of the loan amount |
Source: bankbazaar
Note: Readers are advised to check the relevant bank's website for the latest updates.
Deutsche Bank Personal Loan Fees & Charges
As a part of your personal loan application process, the bank charges a certain processing fee and charges.
Interest rate | Up to 24% p.a. The interest rate of an individual depends upon his age, credit score, employer, repayment history |
Processing fees | Up to 2% of the loan amount |
Loan prepayment charges | In case of floating rate loan: No prepayment charges |
In case of fixed rate loan: 5% of the principal outstanding at the time of loan closure | |
Charges for unsuccessful execution of standing instruction for payment/cheque/ECS/NACH bounce charge | Rs. 500 |
Stamp duty on loan agreement
| As applicable depending on local regulations |
Post dated cheques/ECS/NACH/SI swap charges | Rs. 500 |
Taxes and other government levies | As applicable |
Source: Paisabazaar; rates as of 27 October 2024
Note: All the charges and fees stated are as of August 2024. For latest information, refer to the bank’s website.
Deutsche Bank Personal Loan Interest Rates
The interest rate on your personal loan depends on various factors which revolve around your age, employment, credit score, income level, financial status and overall profile. Hence, based on this, the bank then grants you an interest rate on your personal loan.
The interest rate provided by Deutsche Bank starts at a rate of 10.75% per annum and can go up to 24% per annum. However, the exact interest rate given to you will depend on the bank’s approval based on your personal loan application.
Deutsche Bank Personal loan Eligibility
In order to be eligible for a personal loan from Deutsche Bank, you need to fulfil certain eligibility criteria set by the bank. Let us have a closer look at them:
Individuals can improve their chances of obtaining a personal loan by carefully researching the precise conditions and ensuring they match their financial background. To increase the chances of loan approval, it is recommended that you keep a strong credit history, handle your finances properly, and offer correct and comprehensive information when applying.
Deutsche Bank Personal Loan Document Required
Your documents are crucial in determining your eligibility for the loan. To ensure a smooth process and avoid any setbacks, it’s important to submit all required documents accurately. The necessary documents include:
- Photo identity (any one)
- Valid Passport
- Voter ID Card
- Driving Licence
- Aadhaar Card
- Job Card issued by NREGA, signed by a state government officer
- Proof of address (any one)
- Valid Driving Licence
- Valid Passport
- Voter ID Card
- Aadhaar Card
- Job Card issued by NREGA, signed by a state government officer
- Proof of signature (any one)
- Valid Passport
- Banker’s Certificate
- PAN Card
- Driving Licence
- Proof of age (any one)
- Valid Passport
- Voter ID Card
- PAN Card
- Driving Licence
- Aadhaar Card or Aadhaar Letter
- Job Card issued by NREGA, signed by a state government officer
- Financial documents
- Latest pay slip
- Last 3 months Deutsche Bank account statements
- Last 3 months salary account statements (if salary account is with another bank)
The loan approval process relies heavily on the accuracy and completeness of your paperwork. Incorrect or missing information can cause delays or even rejection of your application. As a result, it is critical to thoroughly analyse all papers for errors and verify that they are up to date.
Deutsche Bank Personal Loan EMI Calculator
The Deutsche Bank Personal Loan EMI Calculator is a convenient online tool specifically designed to assist you with your financial planning by providing a detailed breakdown of your monthly EMIs. This tool works on certain factors which are broadly your interest rate, loan amount, and loan tenure to give you an accurate estimate of your potential EMI. By using the calculator, you can gain a clear understanding of your repayment obligations before applying, helping you make informed decisions about your personal loan options.
Personal Loan EMI Calculator
Deutsche Bank Personal Loan Interest Rates vs Other Bank Loan
Banks/NBFCs | Interest Rates(p.a.) |
|---|---|
Bank of Maharashtra | 10.00% onwards |
City Union Bank | 14.35% onwards |
DBS Bank | 10.99% onwards |
Dhanlaxmi Bank | 13.30% onwards |
Karnataka Bank | 13.43% onwards |
Karur Vysya Bank | 13.15% onwards |
Jammu and Kashmir Bank | 12.20% onwards |
Punjab and Sind Bank | 11.25% onwards |
Abhyudaya Bank | 13% onwards |
HSBC Bank | 9.99% onwards |
IIFL | 12.75% onwards |
HDBFS | 10% onwards |
IOB | 10.85% onwards |
Ujjivan Bank | 11.49% onwards |
UCO Bank | 12.45% onwards |
Nainital Bank | 12.50% onwards |
South Indian Bank | 12.85% onwards |
Standard Chartered Bank | 11.49% onwards |
Syndicate Bank | |
RBL Bank | 18% onwards |
SMFG | 13% onwards |
Source: Bank website’s; rates as of 27 October 2024
Note: Readers are advised to check the relevant bank's website for the latest updates.
Deutsche Bank Personal Loan FAQs
Do I need to visit the bank to apply for Deutsche Bank personal loan?
You can easily apply for a loan online from the comfort of your home. Simply visit the bank’s official website or use a third-party financial site that offers loan information to submit your application.
Can processing fees be waived for a Deutsche Bank personal loan?
Processing fees usually cover the administrative costs incurred by the bank and are generally not waived. However, there may be special promotions or offers where fee waivers are available.
Are there discounts for online or branch applications?
Usually, you may be offered special discounts on interest rates or processing fees by the bank on special occasions like festive seasons. To learn about the latest promotions, it’s best to reach out to your local branch or consult your Relationship Manager for details.
Is there any app for Deutsche Bank personal loan?
Yes, you can download the MyBank India app by Deutsche Bank through which you can easily access your account virtually and also check your application status as well as manage your personal loan hassle free.
How quickly is a Deutsche Bank personal loan disbursed?
Deutsche Bank personal loans are generally approved and disbursed within a few hours, subject to the completion of the verification process. If you are a pre-approved customer, the processing time is often faster.
Can I prepay a Deutsche Bank personal loan?
You can easily prepay the personal loan before the due date of repayment. However, there are certain guidelines and terms & conditions for the prepayment.
How can I get in touch with Deutsche Bank for a personal loan query?
You can reach Deutsche Bank through several convenient options: contact the 24-hour Customer Care Helpline, use the "Email Us" option on the website, or visit any of the bank’s branches in person.
I have no relationship with Deutsche Bank. Can I apply for a Deutsche Bank personal loan?
No, Deutsche Bank only provides personal loans to its existing customers.