Ellaquai Dehati Bank Personal Loan Approval Process

About Ellaquai Dehati Bank Personal Loan

Personal Loans are being used by a large number of people to cover their expenses. One of the reasons for a significant rise in the growing popularity of Personal Loan is that because it is an unsecured loan that does not demand collateral and has a short processing period. A Personal Loan can be obtained from any bank or non-banking financial institution of your choice.

Ellaquai Dehati Bank Personal Loan Eligibility

Particulars Salaried Self-Employed
Age 21 - 60 years 21 - 65 years
Minimum Income Rs.15,000* Rs.5 Lakh p.a.
Co-applicant Not mandatory Not mandatory
Loan Tenure 12 – 60 months 12 – 60 months
Maximum Loan Amount Rs.40 Lakh Rs.40 Lakh
Employment Type Employees of private limited companies and public sector undertakings
Self-employed individuals
Employment/Business Continuity At least 2 years; minimum 1 year with current employer
4 years Post Qualification experience for Doctors/ Chartered Accountants.
5 years Post Qualification experience for Company Secretary / Architect.
CIBIL Score 750 and above 750 and above
Residential Status
Resident Indian staying in own house or a rented house

 

*In cities such as Kochi, Kolkata, Ahmedabad, Pune, Hyderabad, Mumbai, Chennai, Bengaluru, and Delhi the net monthly income required is Rs.20,000

Click here to know more about - Salaried Applicant
Click here to know more about - Self-employed Applicant

*Note: The eligibility criteria vary from lender to lender.

Check Personal Loan Eligibility with Top Lenders in 2021

Bank Age Limit Minimum Work Experience
Minimum Income (Per Month)
SBI Up to 76 years NA** Rs.15,000
HDFC 21 to 60 years 2 years Rs. 20,000
ICICI 23 to 58 years 2 to 5 years Rs.17,500
Axis 21 to 60 years NA** Rs.15,000
Kotak Mahindra 22 to 55 years 1 year Rs.25,000
Tata Capital 21 to 58 years 1 year Rs.15,000
IndusInd 21 to 60 years 2 to 5 years Rs.25,000
Ujjivan Small Finance 22 to 58 years NA**
Above the minimum wage limit
India Infoline Finance Limited 25 to 60 years 6 months to 2 years Rs.35,000
HDBFS 21 to 65 years 1 year to 3 years
Rs.15,000 for salaried
Rs.1 lakh p.a. for self-employed
Indian Overseas Bank Up to 58 years NA* Rs.5,000
IDFC First Bank 23 to 68 years 3 years NA*
Federal Bank 21 - 55 Years 3 years Rs.25,000
Punjab National Bank 21 – 58 years 2 years for doctors Rs.15,000
Andhra Bank 21 - 55 years NA** NA*
Canara Bank NA** NA**
Salaried: Rs.6,000 & above
Self-employed - Rs. 1.5 lakh
IDBI Bank Up to 75 years for Pensioners NA** Rs.1.5 lakh p.a.
Fullerton India 21 to 55 years 1 to 2 years Rs.15,000
RBL Bank 25 to 60 years 1 to 3 years Rs.25,000
Bank of Baroda 21 to 60 years 1 year to 2 years
60% of gross monthly income
Deutsche Bank 25 to 60 years NA** Rs.25,000
Karnataka Bank NA** 3 years NA*
United Bank of India up to 75 Years 2 years NA*
UCO Bank 21 to 65 years 1 year to 5 years Rs.20,000

 

*Personal loan disbursal is solely at the bank’s discretion and as per the bank’s terms and conditions

Learn More about Personal Loan: Click Here

Documents Required for Ellaquai Dehati Bank Personal Loan

Ellaquai Dehati Bank Personal Loan Approval Process

  • The loan application is received by the bank. The information you provided in the application form will thereafter be verified by the bank. Details available with the bank, such as bank statements, salary deposits, and any or all EMIs deducted from your account, will be checked instantly.
  • The bank will then verify the information you provided in the application form concerning your identity. The bank will complete the KYC process here. You may be required to visit the bank with the originals of the documents submitted with your application form.
  • The bank may send an executive to your home or office to confirm the address you provided on the application form. The bank may also cross-check your employment information with your employer.
  • After the verification process is completed, the bank will check your creditworthiness. It will first check your credit score. The bank will determine your loan eligibility with your  IT return.
  • If you have a credit score that is higher than 750, your loan will be approved immediately.
  • The loan amount and tenure will be decided based on your credit score, age, annual income, salary growth prospects and the number of years left in service.
  • Once your loan is accepted, you will have to pay the processing fee.

Steps to Apply for Ellaquai Dehati Bank Personal Loan

  • Visit the official website of Dialabank.
  • Fill in the personal, professional, and financial information requested by the lender and submit the form.
  • After you submit the application form, Dialabank will verify your eligibility and advise you of the maximum amount you are eligible to receive.
  • If you agree to process the application, you must submit the relevant documents, which can also be uploaded online.
  • Finally, Dialabank will process your documents, and if the loan is approved, the funds will be transferred into your Bank account instantly.

Ellaquai Dehati Bank Personal Loan Approval Process FAQs

 What are the documents required to apply for a personal loan?

As it offers a collateral-free advance, application for a personal loan generally involves ascertaining the applicant’s need/eligibility of funds and their repayment capacity. As such to be eligible for a Personal Loan applicants must generally be salaried individuals and share documents confirming their personal and professional details. Including but not restricted to:

  • KYC Documents (proof of the applicant’s age, nationality, etc.)
  • Documents declaring the continued employment for the applicant
  • A duly filled loan application form.