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Deutsche Bank

A personal loan is an unsecured loan, meaning you don’t have to pledge any collateral as security in order to avail the loan. The main advantage of a personal loan is that there are no restrictions on how you can use the loan amount. You could use it for any personal expense.

However, Interest rates for personal loans in India and elsewhere can be high. This is so because the lender has no safeguard in case the customer defaults and protects the money by charging a high interest rate.

The interest rate on a personal loan could range from as low as 11% to as high as 32% per annum or more. It is influenced by a variety of factors, like your credit history including your repayment track record, your credit score, your net annual income, debt-to-income ratio, employment stability etc.

Some salient features and benefits of Deutsche personal loans:

  • Easy loan tenure ranging from 12 months to 48 months.
  • Loans available from Rs. 50,000 to Rs. 15,00,000 depending on your needs and eligibility
  • Benefit of balance transfer option – reduce your interest rate on your existing personal loan, by transferring your loan to Deutsche Bank at prevailing interest rates.
  • Existing customers of Deutsche Bank get preferential interest rates. Also, as an existing customer, you can avail of a personal Loan without providing income papers.
  • Easy and simplified documentation process
  • Quick approvals and prompt disbursal.
  • Complete flexibility of end use
  • Balance consolidation for your Credit Card and Personal Loan outstanding
  • Special offers and minimal documentation for Deutsche Customers
  • No collateral or guarantor required
  • Easy Deutsche Bank loan payment options including Standing Instruction
  • Ability to check your eligibility online on the Deutsche website

Deutsche Bank Personal Loan Eligibility

  • Should be an existing customer
  • Minimum age at the time of application should be 25 years and maximum should be 60 years
  • Income criteria: monthly take home – Rs. 25,000 and above
  • Having a telephone is mandatory – both residence and office

Deutsche Bank Personal Loan Interest Rate: Default interest rate - 24 % p.a. (subject to review)Personal Loan Interest Rates in Deutsche Bank are competitive. The defaultDeutsche Bank Personal Loan Interestis 24% per annum though it can be higher, depending on your credit history amongst other factors.

Following is an overview ofDeutsche Bank Personal Loan Rate of Interest and associated fees and charges. Do note that all fees and charges mentioned will attract Service Tax / Education Cess at applicable rates.

Deutsche Personal Loan Interest Rate 2018

Fees and ChargesPersonal Loans
Processing fees Up to 3% of the loan amount
Default interest rate 24% per annum
Loan prepayment penalties

Prepayment is allowed only after 6 months from the date of disbursal

  • No part payment is allowed throughout the loan tenure
  • 5% of the principal outstanding at the time of loan closure
Personal Credit Report Issuance charges (CIBIL™ report) Rs. 50/-

Note: The above interest rates are subject to periodic review. The final pricing, while remaining within the range mentioned above, will be based on your income, loan amount, loan tenure, Deutsche's internal policies and the applicable rates at the specific time.

How to calculate Interest/EMI on Deutsche Bank Personal Loan

Manually calculating your EMI can be tedious and tiresome and prone to error. You can make use of any online Personal Loan EMI Calculator for determining your exact EMI so that you can factor it into your monthly personal budget. The EMI calculator will calculate your total payable amount, your monthly payment and the total payable interest. Using a trustworthy online calculator will help you plan your finances better.

How CIBIL™ score affects Deutsche Personal Loan Interest Rates

Having a good credit score is a prerequisite to availing any kind of loan. You will be in a position to negotiate for the lowest interest rate possible. Having a good credit score enables you to get easy and hassle-free access to credit. On the other hand, if you have a bad credit score, it can lead to outright rejection of your loan application, or loan approval at high interest rates and other restrictions. Both scenarios are damaging to your credit health.

It is always advisable to maintain a healthy credit score and improve your credit score to 750 or above, before applying for any line of credit.

Deutsche Bank Personal Loan Status

Once Deutsche receives a completed application form along with the necessary supporting documents, it determines whether you are eligible for a personal loan. If you are found eligible, you will get an approval for a specific loan amount based on your criteria, requirement, and repayment capability. You can contact the customer care department of Deutsche and quote your application number to track your loan status.

Deutsche Personal Loan FAQs

Who is eligible for availing a Personal Loan from Deutsche bank?

Personal Loan is offered only to existing Deutsche Bank customers.

How much loan amount can I borrow?

The amount of money you can borrow depends on your income and other criteria like existing loan obligations and your repayment capacity. Depending on the mentioned factors, you can avail of a loan ranging from Rs. 50,000 to Rs. 15,00,000

How do I repay my Personal loan?

You can pay the loan in easy EMIs (Equated Monthly Installments). The loan will be paid through Standing Instructions to debit your Deutsche Bank account with the EMI amount.

Do I need to provide collateral to secure Deutsche Personal loan?

This is a no-security, no-guarantor loan.

Is prepayment of Deutsche Personal Loan allowed?

Prepayment is allowed only after 6 months from the date of disbursal. Charges apply.

How to apply for Deutsche Bank Personal Loan

There are several ways of applying for a Deutsche Personal Loan:

-You can apply directly online at the website

-Via SMS: SMS PL to 561615 and a bank representative will get in touch with you

-You can go in person to your nearest branch with the required documentation

-You can contact the customer care department of Deutsche Bank

Need help with advice on eligibility and on which loan offer suits you the best?

If you want to apply for a personal loan with the lowest interest rates as applicable to your unique credit profile, CreditMantri can guide you through the entire application process and match you with the loan offer best suited to your credit needs.

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