Dhanlaxmi Bank Personal Loan – Apply Online 2022

Last Updated : Jan. 5, 2022, 1:03 p.m.

Be it your child’s foreign education or renovation of your house, you don’t need to worry as Dhanlaxmi Bank Personal Loan is here to give you the financial support that you need. Yes, the loan amount offered by the lender can serve many purposes at a time, thus allows you to fulfill your wishes without putting your wishes on hold. The best thing about this bank is the fact that you can avail the same with the easy process, simple documentation and numerous other perks. That’s why borrowers who are in urgent need of funds, come to Dhanlaxmi Bank so as to give wings to their dreams.

The USP of a personal loan offered by this particular bank is a fact that it is a loan that covers all your diverse financial needs without hurting your pocket much. Dhanlaxmi Bank personal loan with its plenty of unmatched features and services ensures to fulfill every wish of yours without any hassle.

[no_toc]

Let’s understand this product in detail through this article…

Dhanlaxmi Bank Personal Loan Interest Rates

Eligibility Criteria

Know Your Eligibility for Dhanlaxmi Bank Personal Loan

A personal loan eligibility is set on certain parameters set by banks/NBFCs. Now, the calculation of Dhanlaxmi Bank Personal Loan Eligibility can be understood with the help of an example below.

Suppose, Nilesh Jain is working in an MNC and gets a monthly in-hand salary of ₹1,00,000/- and after fulfilling all his necessary financial expenses, he is able to save around 40%-50% of his monthly income. Now, let’s say, he saves around 50% of his monthly income and wants to know if he is eligible for a personal loan or not.

In bank’s point of view, this man is saving around ₹50,000 per month out of his monthly income of ₹1,00,000. So, this saving can be used to repay the EMIs of the personal loan, which he is planning to take. The calculation of the loan amount, tenure and rate of interest, will help him know the EMIs that he will have to pay every month.

Amount- ₹ 1 Lakh
Loan Tenure- 5 years
Rate of Interest- 10.35% p.a.
Your monthly EMI will be- ₹2,142

The calculation for the maximum loan amount on the personal loan would be
₹Lakh x 50000/2142=₹23.34 Lakhs

So, his personal loan amount eligibility would be ₹23.34 Lakhs

Dhanlaxmi Bank Personal Loan EMI Calculator

An EMI is the sum of principal and interest that a borrower needs to pay each month so as to repay the loan. So, if you are taking a personal loan from Dhanlaxmi Bank, what will be the EMI that you will have to pay? Well, your EMI gets calculated in a very easy and quick manner. All you have to do is mention the below details in the EMI calculator:

• Loan Amount
• Tenure
• Rate of Interest

In the EMI Calculator, you need to feed loan amount, interest rate and tenure of the loan so that it calculates your monthly installments accurately. The personal loan EMI calculator will first compute the interest component and then the principal amount of your personal loan.

For Example: Rakhi Sharma is willing to take a personal loan of ₹5,00,000 from Dhanlaxmi Bank for 5 years, and the bank is offering her the loan at an interest rate of 10.35% per annum. To know her EMI or equated monthly installments, total interest outgo and total amount payable, go through the article below:

EMI- ₹10,710

Total Interest Outgo- ₹1,42,590

Total Amount Payable- ₹6,42,590

Below is a table- given showing your EMI, interest and total amount payable for different tenures.

Table showing EMI, interest outgo and total amount payable on your personal loan

Amortization Table

Documentation Required

Features & Benefits

• Higher Loan Amount
• Flexible Loan Repayment Options
• Minimal Documentation
• Speedy Loan Approval
• Competitive Interest Rates