Some time ago you need to go to the bank to take a loan, but today’s time has changed completely, today you can get a loan sitting at home, in this blog basically we are going to talk on this topic that how you can take a personal loan sitting at home. How can you apply for it or what documents do you need for that etc.
What is Personal Loan?
There are many types of loans such as Housing Loan, Car Loan and many other similar personal loans. For all types of loans, the person needs to provide documents and interest in different ways. But personal loan is available only on the credit of the individual, for this there is no mortgage of any kind and no guarantor is required.
Personal loan is given according to the situation of the person and the bank needs information related to their personal income. For example, if a person is applying for a personal loan, then the same information is needed for the company in which he works or if he is self-employed, then information related to income and tax is needed.
It is always available on EMI basis and every month some EMI is deducted from the salary along with the interest of the loan. By the way, you may not know, but not everyone can get a personal loan, if you are a person who earns every month on his own, banks provide this facility for the same. You will get the rest for home, car and other work but personal loan is available only on your credit.
How to Apply for Instant Personal Loan?
There are many government and private banks in the country, which provide all types of loan facilities to their customers. But here we will get information about applying loan from a digital bank named Digibank and this DBS (Development Bank of Singapore) It has a digital branch which provides paperless mobile banking facilities.
Saving account can also be opened from online mobile in Digibank and on this you also get debit card both online and physical. We have told earlier about how to open DBS bank account? Today we are going to get information here that if a person has to apply for a loan. So how can he do that online?
Digibank’s online loan application process is very easy. If you are going to apply for this then you will not need any kind of banking help because here the whole work is paperless and you can easily apply in this bank. Here we will understand the whole process step by step, how to apply so that if you are going to apply for the first time then you will not have any problem.
Documents required for loan application
- Must have PAN card number.
- Must have Aadhar card number.
- Information about current address.
- Information about professional address (company address, office address)
- Savings account should be in Digibank (if not, you can setup while filling the application)
If you have all these details then you can apply online through the loan application guide mentioned here. Which is very simple and contains some important information, so we may not be able to show you the image of each step.
Step 1. First you open this URL https://internet-banking.retail.dbsbank.in/digiloans/contactDetails and enter the necessary personal information asked here like phone number, email, and how much your monthly income and then loan How much is needed, after that go to the next step.
Step 2. Now you enter your PAN card number here and verify it and go to the next step.
Step 3. Here enter your Aadhaar card number and verify it, then you go to the next step.
Step 4. Now enter your current address where you are currently living. So that you can be contacted through post.
Step 5. Enter the address of the company you are working in so that the bank can verify the company and it can get information about your income source.
Step 6. In this step, you will get information related to the loan such as how to deposit EMI, in how many times to deposit and from which bank account to make payment. All this information has to be given.
Step 7. Now you have to do KYC verification so that both identity and bank detail can be verified and after that your process will be completed as soon as KYC verification is completed.
Step 8. Banks take a few days to do KYC verification, after that as soon as the KYC is approved, you will be sent the loan amount immediately to the given bank account and from that day your EMI will also start counting.
Friends, you have seen how easy it is to apply for a loan online and how easily you get money through digibank, here the bank works completely paperless. In this case, you do not need to go to any branch and attend. As soon as the process is completed, the amount comes in the direct account, there is no work of any middle man.
Some people have questions when they go to apply for the loan.
How Much Personal Loan Can I Get?
One can get a personal loan from Digibank online from Rs 20,000 to Rs 15 lakh. It depends on what is the income of the person. Accordingly, the amount is approved. If your credit is such that you have taken many loans before and have deposited them on time, then you can get maximum loan.
How much interest will be charged on the loan?
The interest rate will always be fixed and it can range from 11% to 12%. You will have to pay so much interest for whatever loan you take, and this interest rate is neither very high nor very low, according to today’s time, you will get what is going on. Even if the interest rate decreases after taking the loan, then you will have to pay the same interest which is fixed and if it increases then you will have to pay the same which is already fixed.
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