Why to Worry When Dena Bank is Offering Best Wedding Loan?
Last Updated : July 4, 2016, 10:47 a.m.
When the time of marriage comes and you are short on finance to make the affair a grand one, tune into the hassle-free wedding loan of Dena Bank, a renowned banker with over 1,700 branches across the country. The bank is here to solve all your queries and problems related to wedding expenses and is known for offering you instant funds for a wedding. With such funds, a wedding with a whole lot of grandeur is a definite possibility. So, apply for a wedding loan at Dena Bank and get assured of a memorable marriage. Surely, the details to be charted out later will further prompt you to make Dena Bank your wedding loan partner.
Dena Bank Wedding Loan Details:
| Particulars | Details |
|---|---|
| Interest Rates | 13%-14.50% p.a. |
| Loan Amount | Rs.15,000-Up to 9 times of net monthly income |
| Repayment | 12 months-36 months |
| Processing Fees | 1% of the loan amount |
| Pre-closure Charges | Nil |
Eligibility Criteria for Dena Bank Wedding Loan
Below is the eligibility criteria for Dena Bank Wedding Loan, to avail the same, please check the details below.
- 24 is the minimum age required for the applicant
- 55 is the maximum age required for the applicant
- Minimum monthly income of Rs.15,000 is required of the applicant
- Minimum 2 years of work experience in a Govt or PSU/reputed organization is required.
Now that you know the eligibility norms of the bank, it is also important for you to know the documentation required to avail the loan.
D ocumentation Required for Dena Bank Wedding Loan
| Salaried | Self-Employed |
|---|---|
| Signed application form with photograph | Signed application form with photograph |
| Copy of passport/voter ID card/driving license | Copy of passport/voter ID card/driving license |
| Processing fee cheque | Processing fee cheque |
| Last 3 months bank statement/6 months bank passbook | Last 3 months bank statement/6 months bank passbook |
| Latest salary slip | Latest Bank statement |
| Current dated salary certificate with the latest Form 16 | Latest ITR or Form 16 |
Features and Benefits of Dena Bank Wedding Loan
- Lowest interest rates
- No Guarantor Required
- Flexible Tenures
- Loans for Every Need
- Less Documentation
- Quick processing
- Speedy Disbursal
- Doorstep Convenience
Dena Bank Wedding Loan EMI Calculator
Well, now that you know the eligibility criteria set by the bank, it is also important for you to have some clarity on EMIs as well. Did you ever calculate the EMIs that you are going to pay so as to repay your loan. If no, this article is for you. Yes, you read that right because Dena Bank EMI Calculator allows you to know the amount that you are going to pay each month in order to repay your loan. Your EMIs are just the small chunks of principal and interest of your loan amount that you pay to the lender. The calculator works when you feed few details such as loan amount, interest rate and tenure. The moment these details are received by the tool, it will fetch the results for you immediately, hence saves your time and giving you the results instantly. In order to have more clarity on the same, let's take a help from an example below.
For example- You want money to fund the wedding expenses of your daughter, hence for the same, you have applied for a wedding loan of Rs. 5,00,000 for 3 years at an interest rate that ranges between 13%-14.50%p.a. So, let us see the EMI of the same loan amount for different tenures, availed from Dena Bank.
| Loan Amount (in Rs.) | Interest Rate (in p.a.) | Tenure (in Years) | EMI (in Rs.) | Interest (in Rs.) | Total Amount Payable (in Rs.) |
|---|---|---|---|---|---|
| 500000 | 13%-14.50% | 1 | 44,659-45,011 | 35,904-40,135 | 5,35,904-5,40,135 |
| 500000 | 13%-14.50% | 2 | 23,771-24,125 | 70,502-78,993 | 5,70,502-5,78,993 |
| 500000 | 13%-14.50% | 3 | 16,847-17,210 | 1,06,491-1,19,578 | 6,06,491-6,19,578 |
Ammortization Table
| Year | Principal (in Rs.) | Interest (in Rs.) | Balance Amount (in Rs.) |
|---|---|---|---|
| 1 | 145,639-143,296 | 56,525-63,224 | 354,361-356,704 |
| 2 | 165,741-165,511 | 36,423-41,009 | 188,620-191,193 |
| 3 | 188,801-191,399 | 13,545-15,349 | 0 |
So, all these make Dena Bank a right lending partner to finance your wedding aspirations.
(Updated on:20th October,2016)