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The personal loans of the bank are available for salaried personal as well as self-employed persons and professionals. The bank has set minimum eligibility criteria which have to be met by applicants to be eligible for the loan. These criteria relate to the age of the applicant, income of the applicant among others. The details of such eligibility requirements set by the bank are mentioned hereunder.
The eligible applicants for the personal loans of Dhanlaxmi bank are,
Applicants have to be permanent employees of any of the following organizations,
Any self-employed person engaged in any of the following profit-making entities having a positive turnover
Age of Applicants
The applicants have to be of minimum 23 years of age to be eligible for the personal loans of Dhanlaxmi Bank.
Income of Applicants
The minimum income requirement for the personal loans of the bank depends on the type of applicant.
The bank requires salaried applicants to have a minimum income of Rs. 35,000 per month to be eligible for a personal loan from the bank.
The minimum income requirement for self-employed applicants to be eligible for the personal loan is Rs. 1,80,000 per annum.
Apart from the above conditions, the bank also requires the applicants to have a minimum work experience to be eligible for the personal loan of the bank. This minimum work-experience requirement is also dependent on the type of applicant.
The minimum work experience needed for a salaried person to be eligible for a personal loan from the bank is 2 years.
The bank requires the self-employed professionals to have a minimum work experience of 3 years to be eligible for personal loans
The minimum work experience needed for self-employed non-professionals is a total of 5 years. Of this period, the applicant should have a minimum period of 4 years employed with the current venture or project.
The documents needed for Dhanlaxmi Bank personal loans are basic KYC documents along with documents related to the income proof of the applicant. The details for the same mentioned below.
The applicant can submit any of the following documents as part of the identity proof required for personal loans.
The applicant can submit any of the following documents as part of the age proof required for personal loans.
The applicant can submit any of the following documents as part of the address proof required for personal loans.
Proof of existence
The documents related to the income proof of the applicant depends on the category of the applicant. The details of the same are provided below.
For salaried applicants
The applicants need to provide the following documents as income proof for a personal loan,
For self-employed professionals
Recent passport size photograph
A personal loan is a general-purpose loan that can be availed by eligible applicants to meet their personal needs. These loans can be used for any purpose like a wedding in the family, meet travel expenses, medical expenses of self or family, education expenses, etc.
These loans can be sanctioned with minimum documentation and the eligibility criteria set for these loans are very wide to enable the majority of applicants to gain the benefit of the personal loan of Dhanlaxmi Bank.
The personal loans of Dhanlaxmi bank are available to all the eligible applicants at affordable interest rates on minimum documentation and faster processing.
The highlights of the personal loans of the bank are tabled below.
Amount of Loan
Rate of Interest
12. 10% to 15.70% per annum
2.5% of the loan amount (minimum Rs. 1,250)
2% of the principal outstanding amount (excluding taxes)
A personal loan eligibility calculator is a tool available on the website of the bank that lets the applicants get an estimate of the personal loan that can be sanctioned to the eligible applicants based on various factors. This tool can also be used to get the details of the proposed EMI for the loan taken. The inputs needed for this tool are,
Dhanlaxmi Bank is a private sector bank having its headquarters in Thrissur, Kerala. The bank was set up in 1927 and has grown to provide banking solutions to many sectors like retail banking, corporate banking, NRI banking, MSME banking and agriculture banking and much more.
The retail banking of the bank provides many types of loans to eligible applicants for various purposes like buying a home, vehicles, to meet their personal needs, etc. The personal loans of the bank are available for eligible borrowers at reasonable rates of interest as well as with flexible repayment options.
1. What is the eligibility to get a personal loan from Dhanlaxmi Bank?
A. The persons eligible to get a personal loan from Dhanlaxmi Bank are the salaried applicants, self-employed professionals or non-professionals.
2. What is the maximum eligible loan amount that can be sanctioned by the bank as a personal loan?
A. The maximum loan amount that can be sanctioned by the bank as a personal loan is Rs. 15,00,000 (15 lakhs)
3. What is the minimum work-experience needed for personal loan eligibility of Dhanlaxmi Bank?
A. The minimum work experience needed for personal loan eligibility of Dhanlaxmi Bank is tabled below,
Minimum Work Experience
Minimum of 2 years
Minimum of 3 years
Minimum 5 years (4 years of which in the current venture)
4. What is the minimum income requirement for a personal loan from Dhanlaxmi Bank?
A. The minimum loan requirement for a personal loan of Dhanlaxmi Bank is,
Minimum Income Requirement
Rs. 35,000 per amount
Rs. 1,80,000 per annum
5. How can I repay the personal loan taken from Dhanlaxmi Bank?
A. The modes of repayment of personal loan from Dhanlaxmi Bank are,
6. What is the repayment tenure for the personal loan of Dhanlaxmi Bank?
A. The repayment period for a personal loan of Dhanlaxmi Bank is a minimum of 1 year and a maximum of 5 years.
7. Can the private company ID cards can be accepted as identity proof for the personal loan of the bank?
A. No. The identity cards issued by a private company cannot be used as identity proof for a personal loan from Dhanlaxmi Bank.
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