Dhanlaxmi Bank offers a range of loan products to meet the financial needs of its customers. The bank provides various types of loans including home loans, vehicle loans,commercial loans, loan against securities, education loans, gold loans, loan against property, and Dhanam Green Loan.
Additionally, Dhanlaxmi Bank provides SME loans to support the financial needs of small and medium-sized enterprises and self-employed individuals. These loans can be utilized for business expansion, working capital requirements, or other business-related needs.
Online Dhanlaxmi Bank Loan Details
Whether you’re looking for a home, car, education, gold, or business loan, Dhanlaxmi Bank provides a range of options to suit your requirements. With competitive interest rates and flexible repayment terms, the bank offers quick access to funds. Here are the highlights of Dhanlaxmi Bank Loan:
| Interest rate | The base rate of the bank is 11.60%* p.a. |
|---|---|
| Loan amount | Up to ₹10 Crores* |
| Tenure | Flexible tenure Up to 30 years* |
| Loan Products | Personal Banking, Corporate Banking, SME, and more |
Note: The interest rate, loan amount, and tenure vary based on the loan type you opt for.
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Other Charges Applicable For Dhanlaxmi Bank Loan
Apart from interest rates, the bank also includes other charges based on the loan type during the application process. Here is the breakdown of fees & charges for Property Loans from Dhanlaxmi Bank
| Processing Fees | Home Loan: 1% of the loan amount (Min ₹10,000) |
|---|---|
| LAP/LRD/CP: 1.5% of the loan amount (Min ₹10,000) | |
| Non-refundable processing fee (at application) | Up to ₹20 lacs: ₹3,500 |
| Above ₹20 lacs: ₹5,000 | |
| Cheque bounce charges | ₹500 |
| Late payment charges | 3% per month |
| Cheque swap charges | ₹500 |
| Prepayment Charges | Allowed after 6 months. Min ₹50,000, Max 25% of outstanding amount, one payment per financial year |
| Foreclosure Charges | Home Loan: Nil |
| LAP/CP/LRD: 5% in first 12 months, 3% in 12-24 months, 2% thereafter | |
| Stamp Duty + Registration | As per actuals |
| Legal & incidental charges | As per actuals |
| Insurance Premium | As per actuals |
| Credit Report Charges | Individual: ₹200 per report |
| Non-Individual: ₹750 per report |
Types of Loans offered by Dhanlaxmi Bank
Dhanlaxmi Bank offers a variety of loans to meet the needs of its customers. Here are some of the most popular types of loans offered by the Dhanlaxmi bank:
Home Loans
- Purpose: To simplify home financing options for prospective homeowners.
- Variants: Home Extension Loan, Home Improvement Loan, Plot + Construction Loans, and Construction Loan.
- Processing fees: 1% of the loan amount + service tax
- Interest rates: Starting from 8.75% p.a.
- Loan amount: Get a higher loan amount based on your income.
- Loan tenure: 1 year to 30 years.
Vehicle Loans/Car Loan:
- Purpose: Financial assistance to individuals seeking to purchase a new or used vehicle. This loan option aims to ease the financial burden associated with acquiring a vehicle, allowing borrowers to fulfill their transportation needs while managing their finances effectively.
- Types: New car loans & Used car loans
- Interest rates: Starting from 8.75% p.a.
- Loan amount: You can get 90% of the on-road cost or 100% of the ex-showroom cost, whichever is lower. For diesel and electric cars, the margin on the ex-showroom cost is set at 5%.
- Loan tenure: Up to 84 months..
Commercial Vehicle Loan:
- Purpose: Commercial vehicle loans offer a streamlined approach to securing funds for both new and used commercial vehicles helping you expand your business.
- Interest rates: Competitive rates based on business profile and creditworthiness.
- Loan amount: Customized based on business requirements.
- Loan tenure: Flexible repayment terms.
- Eligible borrowers: Individual, Proprietorship firm, Partnership firm, HUF, Public / pvt ltd company, Trust (only pvt trust) / society.
Loan Against Securities
- Purpose: loan against securities enables individuals to leverage their equity investments without the need to sell them, providing a convenient and easy way to access funds to meet their financial requirements.
- Approved Securities: Shares held in demat form can be utilized as collateral for up to 50% of their value.
- Interest rates: Competitive rates based on creditworthiness.
- Loan amount: Customized based on requirements.
- Loan tenure: Flexible repayment terms.
Education Loans
Purpose: To provide a convenient method of financing your child’s education, allowing you to easily cover various education-related expenses such as tuition fees, accommodation, air travel, insurance premiums, and computer costs.
Schemes offered: Credit Guarantee Fund Scheme for Educational Loans (CGFSEL), Central Government Interest Subsidy Scheme (CSIS)
Securities:
- Up to ₹4 lakhs: No security required. Only parent(s) need to execute loan documents as joint borrower(s).
- Above ₹4 lakhs and up to ₹7.5 lakhs: Third-party guarantee required as collateral security in addition to parent(s) as joint borrower(s).
- Above ₹7.5 lakhs: Tangible collateral security worth the full loan value required, along with the assignment of the student’s future income for repayment of installments. Parent(s) also need to execute as joint borrower(s).
Gold Loans
- Purpose: To avail instant gold loan by using it as collateral without liquidating.
- Interest rates: Starting from 8.90% p.a.
- Features: An overdraft facility is offered with the flexibility of partial release or pledge of gold. This means you can obtain a line of credit by pledging your gold as collateral, and you have the option to partially release portions of the pledged gold if required.
Loan Against Property
- Purpose: By availing a loan against your residential or commercial property, you can meet financial requirements for business, wedding, or education.
- Collateral: Residential property and commercial property.
- Loan amount: Get a higher loan amount based on your income
- Loan Tenure: 3 Years to 15 years
Dhanam Green Loan
- Purpose: Financing environment-friendly projects like renewable energy, energy efficiency, and pollution control.
- Interest rates: 9.80% p.a.
- Loan amount: Up to ₹10 Lakhs
- Loan tenure: For existing Home Loan/LAP customers – up to 15 Years and for others – up to 5 Years
SMEs Loan:
- Types: Working capital loan, Capacity expansion, SME segment, Trade facilities.
- Interest rates: Competitive rates based on business profile and creditworthiness.
- Loan amount: Customized based on business needs.
- Loan tenure: Flexible repayment terms as per the business needs.
In addition to the loans listed above, Dhanlaxmi Bank also offers a variety of other loan products, such as agricultural loans, and NRI loans. To learn more about the loans offered by Dhanlaxmi Bank, please visit the bank’s website.
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Dhanlaxmi Bank Loan EMI Calculator
Dhanlaxmi Bank offers various types of loans to individuals and businesses. To help estimate your equated monthly installments (EMIs) for a loan, Dhanlaxmi Bank provides an easy-to-use EMI calculator on its website.
You can use the Dhanlaxmi Bank EMI calculator to get an estimate of the loan amount you are eligible for based on parameters like income, employment status, credit history, etc.
Once you enter the desired loan amount, tenure, and interest rate, the calculator shows the estimated EMI amount you would need to pay every month to repay the loan. This helps you estimate your monthly financial obligation even before you apply for a loan.
Your Amortization Schedule (Yearly/Monthly)
Dhanlaxmi Bank Loan Eligibility Criteria
The eligibility criteria required for a Dhanlaxmi Bank loan will vary depending on the specific type of loan you’re applying. However, here’s a general overview of the eligibility criteria for Dhanlaxmi Bank loans:
Salaried Individuals
- Minimum age: 21 years
- Maximum age at loan maturity: 60 years
- Minimum monthly gross salary: ₹20,000
- Minimum annual salary: ₹2.40 lakhs
- Employment stability: 1 year in current job and 2 years total experience
Self-Employed / Professionals
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum average annual taxable income as per ITR: ₹2.40 lacs
- Minimum business continuity: 3 years in the same business
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Dhanlaxmi Bank Loan Documents Required
The exact documents needed will be determined by the Bank based on the loan product you choose. Here is a general overview of the documents required to apply for a Dhanlaxmi Bank Loan:
Salaried Individuals
- Filled Application form
- Colored photographs
- Identity proof (PAN card/passport/voter ID/driving license/employee ID card)
- Address proof: Electricity Bill, Ration Card, Voter ID, Passport
- 6 months salary slips/certificate and last 2 years Form 16 and ITR
- Last 6 months’ bank statements
Self Employed/Professionals
- Filled Application form
- Colored photographs
- Identity proof (PAN card/passport/voter ID/driving license)
- Address proof: Electricity Bill, Ration Card, Voter ID, Passport
- Last 3 years ITR
- Current year advance tax challan
- Last 6 months’ bank statements
Features & Benefits of Dhanlaxmi Bank Loan
Here are the features and benefits of Dhanlaxmi Bank Loan:
Steps to Apply for a Dhanlaxmi Bank Loan
To apply for a Dhanlaxmi Bank loan online, you can follow these steps:
- Visit the official website of Dhanlaxmi Bank.
- Navigate to the “Loans” section on the website.
- Select the type of loan you are interested in, such as a home loan, or car loan.
- Click on “Apply” and fill out the online application form.
- Provide the required information and documents, such as personal details, income proof, address proof, and any other documents requested by the bank.
- Submit the application form and documents as per the bank’s instructions.
- The bank will then process your application and may contact you for further information or verification.
It’s important to note that the specific steps and requirements for applying for a Dhanlaxmi Bank loan online may vary based on the type of loan and the bank’s current procedures.
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