Dhani Personal Loan -All You Need to Know

When it comes to securing a personal loan in India, the search for a reliable, convenient and flexible personal loan has always been challenging. Yet, one product you should consider is the Dhani Personal Loan by Indiabulls, which comes with quick disbursement, competitive interest rates and an easy application process.

In this article, we’ll delve into how Dhani’s personal loan works for you. We’ll understand what Dhani Personal Loan is, its features, eligibility, interest rates and charges, documents required and the application process. So, let’s dive in!

What is Dhani’s Personal Loan?

Dhani personal loan is an instant financial solution offered by Dhani Loans and Services Ltd., formerly Indiabulls Consumer Finance Ltd. It is an NBFC registered with the Reserve Bank Of India. Whether you need funds for wedding expenses, sudden travelling plans, or unexpected medical expenses, Dhani personal loan can help with that urgent financial need.

Dhani’s personal loan is known for its quick online process, instant approval and immediate disbursement of funds directly to your bank account.

Features of Dhani Personal Loan

1. Dhani provides personal loans ranging from Rs.1000 to Rs. 15 lakhs, catering to various financial needs.
2. The complete loan application can be made through the Dhani mobile application in the comfort of your home.
3. The loan tenure is from 3 to 24 months, allowing you to choose as you want.
4. You need minimum documents to apply for the Dhani personal loan
5. You do not have to pay prepayment charges for a loan below Rs. 20000.
6. Once approved, the loan amount is disbursed in minutes.

Dhani Personal Loan Eligibility Criteria

To avail Dhani Personal Loan, you must meet the following eligibility criteria:

1. You must be a citizen of India.
2. You must be aged 21 years or above.
3. You should be salaried or self-employed.
4. You must complete your KYC by providing PAN, Aadhaar, and bank account details.
5. You must have a minimum monthly income of Rs 15000.
6. Your credit score should be 750 or above. Usually, banks seek your CIBIL score to determine loan eligibility.

Dhani Personal Loan Interest Rates

Dhani’s personal loan interest starts at 13.09% p.a. and onwards. However, the actual personal loan levied on you will depend on your credit history, income profile and the loan amount. To get the lowest interest rate, maintain a credit score of 750 or above. 

Dhani Personal Fees and Charges

Here is the table showing different types of charges with applicable fees:

Calculate your EMI here.

Let us look in detail at what each of the charges is meant for:

1. Processing fees: This is the charge deducted from the loan at the time of loan disbursement. This is meant for the processing of loans.

2. Foreclosure/Pre-payment charges: These are levied if you default on your loan payments or want to pay off the loan before its term is finished. 

3. Bounce Charges: This charge is levied if the minimum balance is not maintained in your debit account during loan repayment.

4. Late payment penalty: If your repayment lapses in a particular month, you are fined late penalty charges.

5. Stamp Duty: Stamp Duty is a tax levied on the loan agreement. In India, it may vary from state to state.

6. Repayment mandate/Instrument swapping charges: Repayment mandate or Instrument swapping charges are fees charged by lenders when you change the mode of repayment or the bank account from which the repayment is made.

7. Loan Cancellation Charges: Loan cancellation charges are fees that are imposed if you (the borrower) want to cancel the loan after the loan approval or disbursal.

8. Loan rebooking charges: These fees are imposed if you want to change the loan term.

9. Statement of account charges: These are the charges levied if you want a detailed statement of all the transactions related to the loan.

Also read, What is a personal loan?

Documents Required for Dhani Personal Loan

1. PAN Card: It’s a unique alphanumeric code issued by the Income Tax Department. 
2. Aadhaar: It’s a 12-digit identification number issued by the Unique Identification Authority of India (UIDAI).
3. Income Proof: If you are salaried, provide the Last three months salary slips issued by the Employer. If you are self-employed, provide savings/current bank statement for the past one year.
4. Bank statement: You must provide the last three months’ bank statement that you can download from your Internet banking or bank passbook.

How to apply for Dhani Personal Loan?

You can easily apply for Dhani personal loan online by the following steps:

1. Download and install the Dhani Personal Loan app from the Play Store or App Store.
2. Open the application and enter your name, email, phone number and loan amount. Enter the OTP to verify your mobile number.
3. Upload the necessary documents like PAN, Aadhaar, income proof, address proof, bank statement,  etc.
4. Click submit.

Once you submit the application, the lender verifies your details and checks your loan eligibility. If your loan gets approved, the amount is credited directly to your bank account.

Dhan’s Customer Care  Number

If you need assistance with your loan application, you can contact Dahni Customer Care at 0124-6555-555 or email support@dhani.com. The support team is available by phone between 8 am and 8 pm.

Conclusion

Before taking a loan, it’s crucial to understand all the aspects of the loan product, assess your repayment capacity, and read the fine print before signing up. Always make an informed decision that aligns with your financial goal and circumstances.