Is DCB Bank Personal Loan Interest Rate Affordable for Family Vacation?

If you are planning for a family vacation this season, you should borrow a personal loan from DCB Bank. Because of its affordable loan interest rate, you won’t have to worry about repayments and can enjoy your vacation relaxingly. DCB Bank Personal Loan Interest Rate starts from 13.00% onwards; the rate will remain fixed during the repayment tenure. The borrower has the flexibility to choose his/her tenure as per the convenience. Let’s read this article and know more about the DCB Bank Personal Loan Interest Rate.

What are the Factors Affecting Your DCB Bank Personal Loan Interest Rate?

The following will has an impact on your DCB Bank Personal Loan Interest Rate:-

• Age - You should know that there is a certain age criterion for DCB Bank Personal Loan which you need to meet. And if your age is nearer to the maximum age, you will have a limited option of tenure and the DCB Bank Personal Loan Interest Rate will also be high. So, ensure that you meet the DCB Bank Personal Loan eligibility criteria and your age is suitable enough to borrow a new loan.

• Income- Based on your income profile DCB Bank determines your loan limit and DCB Bank Personal Loan Interest Rate. So do check your monthly income before applying for the personal loan.

• CIBIL score - The borrower needs to authorize DCB Bank to pull out his/her CIBIL score. Because the bank will evaluate your CIBIL score to check your eligibility for DCB Bank Personal Loan. So, you should check your CIBIL score and ensure that it is decent enough to borrow a loan; and only then apply for the personal loan at DCB Bank.

• Current obligations - If you have any ongoing loans or credit card bills, make sure you don’t have any due or default history because this can impact DCB Bank Personal Loan Interest Rate negatively.

• Credit utilization ratio - You want to borrow DCB Bank Personal Loan and also don't have any due payment history, but have you checked the credit utilization ratio. It is the percentage of the amount which you have used from your credit card limit. And if your credit utilization ratio is 30-35%, you can easily grab an affordable DCB Bank Personal Loan Interest Rate. The key to getting a low credit utilization ratio is that you should use your credit card only when there's an emergency; this way you don’t spend too much.

Manage Your DCB Bank Personal Loan Interest Rate with EMI Calculator!

Using the DCB Bank Personal Loan EMI Calculator, you can choose a suitable tenure for your borrowed amount where the EMI is affordable and interest payout is less. To use this EMI tool, you just need to enter the following information:-

• Loan amount - This amount should be in the range of loan that DCB Bank has approved for you.

• Interest rate - DCB Bank Personal Loan Interest Rate as per your eligibility

• Tenure - You can enter any tenure from 12 to 60 months

For example:-

Riya is eligible for a loan up to INR 5 lakh at DCB Bank at an interest rate of 13.25% per annum. So she needs a tenure that will provide her low EMIs and less interest outgo. Riya uses the DCB Bank Personal Loan EMI Calculator and chooses the tenure of 48 months, which gave her an EMI of INR 13,476 with an interest outgo of INR 1.46 lakh.