Loan
Unsecured Loan
Personal Loan
Personal Loan in Mumbai

Mumbai is the country’s business and entertainment capital, famous for its go-getting attitude, and suburban trains that ferry millions of commuters to and from work. A city which draws people from across the country with their dreams of a better life.

If you are a Mumbaikar, let’s help you fulfil your dream of a better life. Whether you live in a rented apartment or your own glittering high-rise flat, DBS Bank personal loans in Mumbai can help you with your aspirations. You can get a personal loan for a variety of reasons. These could be any of these, a down payment on a new apartment, a beauty treatment just before your wedding, or even a holiday abroad. Whatever be your reason, you can always rely on DBS Bank personal loans.

Features

Here are some features of DBS Bank personal loans you cannot miss:

  • A fully digital process means you do not have to submit any paper documents or visit a branch
  • Our loan calculator allows you to choose a tenure and EMI that suits your needs
  • If you are an eligible DBS Bank customer, you get instant disbursal of pre-approved loans
  • Your interest rate is constant for the entire tenure, which means you don’t have to worry about budget planning each year, or if your annual increment/ profits don’t quite match your expectations
  • Since we don’t offer a part-disbursement facility, the full loan is credited to your digiSavings account after deducting the processing fee and applicable taxes

Benefits

A personal loan in Mumbai through DBS Bank ensures you don't even need to leave the comfort of your chair to get the money into your account.

  • A fully digital process means you do not have to submit any paper documents or visit a branch
  • Our loan calculator allows you to choose a tenure and EMI that suits your needs
  • If you are an eligible DBS Bank customer, you get instant disbursal of pre-approved loans
  • Your interest rate is constant for the entire tenure, which means you don't have to worry about budget planning each year, or if your annual increment/ profits don’t quite match your expectations
  • Since we don't offer a part-disbursement facility, the full loan is credited to your digiSavings account after deducting the processing fee and applicable taxes

Documents Required for a Personal Loan in Mumbai

DBS Bank offers an entirely paperless system, however, you’ll need to provide information on our app. Here’s what you’ll have to do:

  • Share your correct personal details
  • If your requirement is over the approved limit, however, you’ll need to upload your bank details or statements (other than DBS Bank)
  • That’s all you need. We’ll never ask you for salary slips, IT returns or any other proof of income

How to Apply for a Personal Loan in Mumbai

Here’s how you can apply for a DBS Bank personal loan:

  • If you are new to DBS Bank, you will have to download the DBS Bank mobile app on your smartphone, launch it and click on the ‘Get Personal Loan’ link on the login page
  • If you already hold a DBS Bank account, you need to start the app on your smartphone, log in and tap ‘Loans’ in the navigation menu
  • Once you’ve filled in the personal details, your personal loan amount will be transferred to your digiSavings account after your account verification, which usually takes less than a couple of days
  • If you are applying for a pre-approved loan, you can expect the funds in your account within minutes of your application

Our personal loan in Mumbai process is not only lightning-fast but straightforward. So go ahead, download our app. Your dream awaits.

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Frequently Asked Questions

What are the fees and other charges?

With a DBS Bank personal loan, our processes are transparent. Here our fees and charges:

  • Processing fee: 1.00% to 2.5% of the loan amount + GST as applicable
  • Foreclosure charges: Foreclosure can only be done 12 months from the date of disbursement. Fees are collected on the principal outstanding + GST as applicable. Here are the charges for different tenures:
    • 2-24 months: 4.5%
    • 25 to 36 months: 2.5%
    • 36 months or more: 2%

    The same rates apply to part prepayment charges, which can only be done after 12 months from date of disbursement subject to a maximum of two prepayments in a year.

  • There will be a charge for standing instructions being dishonoured at Rs. 600 per instance + GST. There will also be a penal interest rate at 24% per annum, or 2% per month, on the overdue instalment
  • EMIs for loans disbursed between 1st to 19th of the month will start from 6th of the next month, while those disbursed after the 20th of the month will begin from 10th of the following month
What if I decide against the loan after sanction?

Loan cancellation can be only be done during the two-day ‘free look’ period from the disbursal of the loan. There are no cancellation charges, but the processing fee and applicable taxes collected will not be refunded.

How do I get my loan repayment schedule?

After you take a personal loan in Mumbai from DBS Bank, download the repayment/loan schedule from the 'Statements' section under 'Personal Loans' on the dashboard of the DBS Bank menu.

**All loans will be given out at the sole discretion of DBS Bank India Limited.

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