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Personal Loan

Deutsche Bank is considered to be one of the largest and most reputed investment banks in the world. It is currently having a strong presence and established foothold in Germany and Europe and is on an expansion spree in other target markets such as North America and India.


Deutsche Bank has over 78,000 employees worldwide in more than 70 countries and has made its mark in the banking and financial services industry as one of the leading players in the wealth management and personal/business finance space.


Deutsche Bank offers Personal Loan products which can be used to meet desired end use of various purposes. Some of the unique propositions provided by the Bank vis-a-vis other market players include competitive interest rates, the absence of any additional credit collateral like collateral property, personal guarantee or any other type of security. The aforesaid USP’s held customers to give more credence to the Deutsche Personal loan products offered by Deutsche Bank as compared to other products offered by its competitors. The bank also boasts of having one of the lowest turnaround times in the current banking industry. The full form of TAT is Turnaround Time and it represents the time availed by the bank officials to assess the viability of the Deutsche Personal loan sanctioned and get the same. It is also supplemented by the banks simple and hassle free documentation process to get the sanction of any type of Deutsche personal loan facility.

Deutsche Personal Loan amount Eligibility

It is necessary for a potential prospect to assess whether he or she is eligible to apply for a Deutsche Personal Loan at the very outset. Every bank has certain minimum criteria which need to be satisfied by the prospect for banks to offer personal loans. Accordingly, some of the eligibility criteria details of Deutsche Bank are as follows:


a). The minimum and maximum age limit for a potential candidate ranges from 25-60 years.


b). The minimum income required for Deutsche Personal Loan starts from Rs.25000 monthly in-hand salary and above to apply for this personal loan from Deutsche Bank.


c). It is compulsory for the prospect to have a telephone access at both his/her residence and office place.

Deutsche Personal Loan Interest Rate

The Interest Rate for Personal Loans is 24% for individuals. However, the rates may vary depending on customer profile i.e. if the bank officials find an applicant with inadequate credit worthiness and yet meets the initial eligible criteria, the Deutsche Personal Loan interest rates may be commensurately hiked to cover the potential risk of default for the bank.


However, the same is as per set industry standard and interest rates are in line with the standard market rates and hence do not create a distinguishing factor as such for the potential borrowers.


Personal Loan Charges
 

Fee

Amount

Loan Processing Charge

3% of the loan amount

Pre-payment Charges

  • Post the expiry of 6 months from the date of disbursal, Prepayment is allowed.
  • Am amount tantamount to 5% of the POS at the time of foreclosure

No Due Certificate / No Objection Certificate (NOC)

Free

Stamp Duty and other Statutory Charges

As per applicable laws

Repayment Instruction Swap Charges

Rs.500

Cheque Bounce Charges

Rs.550 per cheque bounce

Duplicate Statement Issue Charges

Rs.500

CIBIL Report Copy Charges

Rs.50 per copy

Documentation

The approval procedure of personal loan at Deutsche Bank is subject to the receipt of various documents when customers apply for a Deutsche Personal Loan, as it is the case with any other bank in India, which are in turn analyzed by bank officials prior giving approval of disbursing the Deutsche Personal loans to the applicant or any corporate.  Any discrepancy in the receipt of the documents may turn out to be an impediment in the Deutsche Personal loan disbursement process. Usually, in such circumstances, the Bank may provide a window to the client to file the requisite missing documents for availing the Deutsche Personal loan. A brief synopsis of the list of documents which are required by the Bank to apply for a Deutsche Personal Loan at the time of loan approval is provided as below:


For Salaried Individuals:
       

  • Identity Proof
  • Address Proof

    The applicant needs to submit any one of the afore-mentioned documents which shall enable the bank officials to properly verify the address of the applicant.
     
  • Age Proof

    The applicant needs to submit any one of the afore-mentioned documents which shall enable the bank officials to properly verify the age of the applicant. Any discrepancy in the receipt of the aforesaid documents is likely to increase the suspicion of the bank officials towards the candidature of the applicant and might also form the basis for rejection of the Deutsche Personal loan application form.


For Self Employed:
 

  • Identity proof
  • Address Proof
  • Age Proof

Further, with respect to financials of salaried individuals, last 6 months bank statement copy along with last 2 months’ pay slip with the latest Form16 certificate shall also constitute Deutsche personal loan requirements coupled with latest electricity or bill (not more than 6 months).


The same is used by bank official to assess the average cash outflows and inflows of the client and the pattern of his/her spending habits. Any sudden or untoward inflow or outflow in the bank statement shall draw the caution of bank officials and subject the client to questioning with a view to justify the same. In the event, he or she is unable to do so the credibility of the client may be brought to question. A high average bank balance maintained by the client shall also prove to be a positive factor for the applicant as it indicates adequate cushioning for the bank with respect to the Deutsche Personal loans’ debt servicing obligations. However the same should also be commensurate with the individual’s profile and not be inconsistent with the person’s scale of business operations. (In case of self- employed personnel only). A very high average bank balance which is not consistent with the person’s scale of business operations might reflect the presence of other income, which might not be sustainable in the long run and hence warrants caution for bank officials. Hence, the Bank ensures the strict adherence and implementation of stringent measures to ensure the accurate assessment of credit worthiness of clients. In this regard, it may be pertinent to mention that the bank also follows and implements a stringent credit appraisal and evaluation process which ensures that only the right person is given the Deutsche Personal loan in the right time and also in the right amount keeping in mind the funding and liquidity risks.


The aforesaid requirement applies for both salaried as well as self-employed personnel and primarily helps the Deutsche Bank officials to assess if the person who proposes to avail the Deutsche Personal loans has his/her roots in India. The same assumes importance as, if the person is based abroad; then in that case, Bank powers may get tangled in various cross border laws and regulations thereby raising the funding risk for any financial institution considerably.

Other Features of Deutsche Personal Loan

The Personal Loan offered by the bank has the following features:
 

  • Sanctioned Deutsche Personal Loan amount can vary from Rs.50,000 to Rs.15 lacs and can also be availed for a flexible tenure ranging from 12 to 48 months.
  • All existing customers of Deutsche Bank already having a Savings account or Current account need to submit documentation of income criteria for availing Deutsche Personal loan at the existing interest rates.
  • Deutsche Bank also provides the option of transferring one’s existing Deutsche Personal loan account into the portfolio of Deutsche Bank at the prevailing interest rates and also avail incremental funding as and when required.
  • The Bank also facilitates easy calculation of the future EMI’s due for a prospective customer. In this regard, the bank has a simple, well integrated and easy to use Deutsche Personal Loan EMI calculator on its website wherein one needs to fill in the details of loans tenure, interest rate, and along with sanctioned amounts in the specified allotments. Post submission of all related information, one needs to press on the ‘calculate’ tab and will get all the relevant details such as Deutsche Personal loan break-up, amortization schedule, loan repayment obligations, EMI breakup (i.e. interest and principal components, etc.) in a graphical format for the convenience of clients. In the event, the applicant would like to opt for a bullet payment or a step up repayment structure, the same can also be customized and displayed to the client in advance so that he/she may take an informed decision. It also enables the applicant to take a realistic view of his/her potential risk appetite and accordingly avail finance thereby reducing the chances of any potential default risk in future for both the individual as well as the Bank.
  • As discussed in the aforesaid paragraph, the bank provides the option of EMI Calculator to help potential clients know their Equated Monthly Installments (EMI) which needs to be paid in exchange for the Deutsche Personal loan. Some of the examples of EMI calculation using the bank’s EMI facility has been mentioned below:
  • Mr. Ram desires to visit abroad along with his family for a family vacation to UAE to mark the grand exam success of his son, who recently cleared his IAS exams. The tour agency quotes an amount of 10 lakhs for the round way trip for his family. Due to high expenditure, Mr. Ram sought to obtain a loan to fund his expenses for the foreign trip.  As per his estimates and on the basis of his previous credit experience, Mr. Ram decided to opt for a Deutsche Personal loan of Rs.10 Lacs and decides to repay Deutsche Personal Loan within a span of 5 years. By virtue of having an existing relationship with the bank officials, he enquired about the rate of interest and the principal and or EMI chargeable for the proposed Deutsche Personal loan. He was able to arrive at the requisite figures by making use of the EMI calculator tool which gave a figure of Rs.21,564 in respect of EMI against an interest rate of 15%
  • Mr. Mitra has a daughter who he has decided to tie in the sacred bond of marriage. On the occasion of the marriage of his only daughter, he decides to organize festivities on a grand scale and fixes a budget for the same. After exhausting all the existing resources for the event, he still faces a gap of Rs.5 lakhs as against his fixed budget of around Rs.10 lacs. Therefore, he decides to take financial assistance from the bank as a Deutsche personal loan. After calculating his financial situation, Mr. Mitra resorts to Deutsche Bank with the requirement and decides to pay back the loan in 5 years. In lieu of the same, Deutsche offers Personal Loan and charges him an EMI of Rs.9800 for an interest rate of 13%.
  • Rakesh was recently transferred from his current job with a view to return to his hometown of Kolkata after much persuasion with the management. He however, wants to stay separately from his ageing parents and looks for buying an affordable house in this regard. After perusal of his financial situation, Rakesh decides that he would require an amount of about Rs.2 lacs towards purchasing the requisite home appliances and equipments for his new house. As he wished not to hamper or disturb his available surplus savings, he chooses to avail of a personal loan from Deutsche Bank. Deutsche Bank offers Personal Loans to him and charges an EMI of nearly Rs.4327 at an agreed interest rate of 14.5%.

A brief synopsis of the requisite EMI’s payable in each of the aforesaid cases has been tabulated in the below mentioned table for easy reference and understanding:
 

Applicant

Loan Amount

Interest Rate

Term

EMI

Mr. Verma

10 lakhs

15%

5 years

21,567

Mr. Mitra

5 lakhs

13%

5 years

9800

Rakesh

2 lacs

14.5%

5 years

4327

 

  • The personal bank loans statement from Deutsche Bank can also be conveniently obtained online through the bank’s website only thereby enabling the applicant to keep a tab on the potential EMI payment due, its last date of payment along with the last date of payment with penalty in view of delayed rentals/payments. This enables the individual to plan out his other payment obligations and ensure that he has sufficient balance in hand to meet his/her repayment obligations.
     
  • The Deutsche personal loan eligibility as well as the maximum permissible loan amount availing to a subject client can be arrived at by using the Deutsche Personal Loan online tool available at the Bank’s website and the relevant loan tool/option may be chosen by the applicant as per his/her suitability. This enables the Bank to minimize its potential risk by doing an instant profiling of the subject applicants and avoiding the tendency of going overboard on any particular client. It also benefits the subject applicants by compelling them to avail finance to the extent as permitted by his/her monthly/annual income rather than being guiding by urgent requirements or other commitments. It also avoids potential harassment for prospective clients by doing away with the need to go to the bank premises physically as well as an initial assessment of his/her credit worthiness.
     
  • The potential and or existing clients benefit from the complete structured processes in the Deutsche Personal loan grant mechanism with little scope for any deviation which may impact the end clients. In other words, the clients can be rest assured from any sort of hidden charges applicable on the loan amount, exorbitant processing fees and real time update on loan approval procedure inclusive of up-to-date data on loan application status at any stage of the approval mechanism. Thus, the potential clients cannot afford to lose sleep over the fact that the bank officials might create an unwanted dent  in his/her savings by levying certain charges in the absence of the knowledge of the clients at any point in time of the loan approval process. In other words, the processing fee charged by the bank is in line with the amount of loan availed without any aberration in this regard. Further, complete transparency can also be assured to the client, as they have the full access of checking the status of the loan application by submitting the requisite data pertaining to the loan. All existing account holders also have the option of finding out not only at what stage the loan is in and the approximate time to be taken for the final approval to arrive but also get an alert when the funds are credited into the bank account. Thus the bank ensures that all the aspects of the loan approval process are completed keeping in mind the convenience of the customer without giving any scope for arousal of any misunderstanding. The same also provides a unique selling proposition for Deutsche Bank to market its products in the highly competitive landscape.

Frequently Asked Questions (FAQs)

  • What is the quantum of loan available under the Personal Loan scheme?

An individual can avail any amount of loan as long as it lies within the minimum and maximum limit prescribed by the bank. The minimum amount of loan available is Rs.50, 000 and the maximum limit of the loan granted is Rs.7.5 lakhs. However, the quantum of loan granted would be decided by the bank depending on the customer’s repayment capacity, eligibility and income.
 

  • When should the loan be repaid?

The loan has to be repaid within a stipulated tenure of 12 months to 36 months. Any tenure for Deutsche Personal Loan between these periods can be chosen depending on the borrower’s affordability.
 

  • What is requirement of security in context of the Personal Loan?

The personal loans from Deutsche come without any requirement of security or collateral.
 

  • What are the required eligibility criteria for Personal Loans?

Personal loans are granted only to the existing customers of the Deutsche Bank. The customers can be salaried or self-employed as long as they are earning an income. Other eligibility criteria include the age to be a minimum of 25 years and a maximum of 60 years and a monthly take-home salary of Rs.25, 000 and above. A telephone of both the residence and office is a mandatory requirement for the loan.
 

  • What is the loan repayment mode acceptable to the bank?

The loan would be repaid monthly in instalments and one can calculate EMI for Deutsche Personal Loan which contains both the principal amount and the interest component of the loan. This EMI, payable every month, would be paid through Standing Instructions placed on your Deutsche Bank Account which instructs the bank to debit your account automatically every month for meeting the loan instalments.
 

  • What is the Turnaround Time (TAT) for availing the loan funds?

When the applicant submits the duly filled in Application Form and the supporting documents required for availing the loan, the bank takes about 7 working days to grant the loan approval. This approval is granted on the provision that all the documents submitted and the application form filled is correct.
 

  • Can the applicant prepay the loan?

Prepayment of the loan is allowed provided some conditions are fulfilled. One, the prepayment has to be done after 6 months from the date the loan is disbursed. Two, prepayment would attract a charge of 5% on the outstanding amount of loan. Lastly, part prepayment is not allowed. Prepayment would have to be done of the entire outstanding principal amount.
 

  • Where is the Personal Loan available?

Deutsche Bank allows Personal Loans only at select locations in India. These locations include Bangalore, Mumbai, Chennai and NCR.
 

  • What documents are required for availing the loan?

An applicant, whether salaried or self-employed, has to submit four types of Personal loan documents for availing the Personal Loan. These documents include the Identity Proof, Address Proof, Signature Proof and Age Proof.
 

  • Is there any processing charge payable under the loan?

Yes, a loan processing fee is payable at the time of loan application. This fee is equivalent to 3% of the amount of loan sanctioned.

Applying for a Deutsche Personal Loan Online

The application for a personal loan at Deutsche Bank can be easily completed through an online mechanism thereby resulting in a hassle free and quick loan approval process for the potential prospects. In order to avail of the said facility, one can visit the website Paisabazaar.com – click the ‘Personal Loan’ and thereafter fill up the necessary details.


In the aforesaid application form, the prospect needs to submit necessary details such as those pertaining to age, current income levels, property ownership details, name of current employer, total employment and other relevant details. The same are thereafter assessed to arrive at the credit worthiness of the applicant which ultimately culminates in loan approval subject to proper documentation and verification. The online mechanism can be effectively used by any given prospect to resolve his/her queries relating to those of Deutsche Personal loans approval process, eligibility criteria as well as various documentation requirements for Personal Loans will ease. The website also prides itself in having the facility to track the status of the loan application in a real time interactive manner. This system helps the customer to save precious time by dealing away with the need to interact with customer sales representatives. The assumes importance, as even after sanction of the loan, the bank officials usually takes time for the final loan sanction to be completed and the funds to be credited in the parties’ account. Thus, in the intervening period, if any applicant wants to assess the status of the loan proposal, the website has the necessary facilities to assist clients in this regard for the convenience of applicants.


The website has an efficient and well-coordinated banking process in place which enables clients in availing of quick loan sanction for all personal loan requests along with quick Deutsche Personal loans disbursement and utilization for use in the respective business purpose.