In today’s busy life, financial needs can arise at any time. This financial need can be for any of our purposes like medical expenses, purchase or reconstruction of a new house, education expenses, travelling and any other financial expenses. Quick access to money can significantly impact a situation. Dhani Personal Loans can be useful in this situation.
A variety of personal loan products are offered by Dhani Loans and Services Limited formerly known as Indiabulls Consumer Finance Limited with the goal of offering hassle-free and quick financing to customers. We will cover all the details of Dhani Personal Loans in this article including their features, advantages, requirements for eligibility application process and more.
Understanding Dhani Personal Loans
Dhani Personal Loans are offered by Dhani Loans and Services Limited, a subsidiary of Dhani Services Limited. These loans are designed to cater to various financial needs with quick and easy access to financing. With a straightforward application process, getting a Dhani Personal Loan is convenient and hassle-free.
Dhani Personal Loan Features & Benefits
Dhani Personal Loans come with several features and benefits that make them an attractive choice for borrowers:
- Loan Amount: You can borrow amounts ranging from ₹1,000 to ₹15 Lakhs, making it suitable for various financial needs.
- Interest Rate: Dhani Personal Loans have competitive interest rates starting at 13.99% per annum onwards. The actual rate you receive depends on your credit profile and loan terms.
- Loan Tenure: The repayment tenure for Dhani Personal Loans ranges from 3 to 24 months, providing flexibility in managing your loan.
- Processing Fee: The processing fee for these loans can go up to a maximum of 5% of the loan amount.
- Prepayment Charges: Dhani Personal Loans have prepayment charges of 5% of the outstanding amount if you choose to repay the loan before the full tenure.
- Easy Application: You can apply for a loan of up to ₹15 Lakhs using the Dhani Loan app, available on the Play Store.
- Minimal Documentation: To avail a Dhani Personal Loan, you need to prove your identity with your Aadhaar card and provide an address proof.
- Quick Approval: If you meet the eligibility criteria, Dhani Loan applications are processed promptly, and the approved amount is transferred to your account.
- Accessibility: The app can be used from anywhere and on any smartphone, allowing you to request and receive a loan at any time.
- Loan Management: Besides availing a Dhani Loan, you can manage, track, and make payments through the app.
It is important to remember that the interest rates and fees indicated below might be changed according to the lender’s policy, so check the latest terms and conditions before applying.
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Dhani Personal Loan Interest Rate
The interest rate on your Dhani Personal Loan is a crucial factor as it significantly affects your cost of borrowing. The rate starts at 13.99% onwards, but the exact rate you qualify for depends on several factors, including:
- Credit Score: A higher credit score, typically 750 or above, can help you secure a lower interest rate.
- Creditworthiness: Lenders consider your overall creditworthiness, which includes factors such as your existing liabilities and financial stability.
- Loan Terms: The interest rate may vary depending on the specific terms of your loan, including the loan amount and tenure.
A lower interest rate can save you money throughout the duration of the loan so it’s important to keep your credit in good health. Check Your free Credit Score.
Dhani Personal Loan Fees & Charges
Other fees and charges in addition to the interest rate impact the total cost of borrowing with a Dhani Personal Loan. Some of the fees to be aware of are listed below.
- Processing Fee: This fee can go up to a maximum of 5% of the loan amount. For example the processing fee for a loan of 5 lakhs might be up to 25,000.
- Prepayment Charges: If you decide to repay your loan before the full tenure, prepayment charges of 5% of the outstanding amount will apply.
- Bounce Charges: Bounce charges for salaried individuals amount to ₹400 per bounce, while self-employed individuals face ₹750 per bounce.
- Late Payment Fee: Late payments incur a penalty of 3% per month on the overdue amount.
- Stamp Duty Charges: Stamp duty charges for loan documentation comply with applicable laws.
- Other Charges: Additional charges may include duplicate NOC fees, charges for repayment mandate/instrument swapping, loan cancellation charges, loan re-booking charges, statement of account charges, and duplicate repayment schedule charges.
Understanding these fees is crucial for managing your loan effectively and avoiding unexpected expenses.
How is Dhani Personal Loan EMI Calculated?
To help borrowers plan their finances, Dhani provides a personal loan EMI calculator. This tool offers accurate estimates of monthly instalments based on your loan details, including the amount, tenure, and interest rate.
Using the formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], the EMI calculator simplifies complex calculations and ensures you make informed decisions about your loan.
Calculating your EMI manually can be time-consuming and prone to errors. Relying on the EMI calculator ensures you borrow based on accurate estimates, which is crucial for your financial well-being.
Dhani Personal Loan Eligibility
Before applying for a Dhani Personal Loan, it’s essential to understand the eligibility criteria:
- Age: Applicants must be above 21 years old.
- Citizenship: Applicants should be Indian citizens.
- Employment: Applicants can be employed or self-employed.
- Aadhaar Card: You need an Aadhaar card for KYC verification and rapid money transfer.
Meeting these criteria is crucial for increasing your chances of loan approval. Ensure you fulfill these requirements before applying to streamline the process.
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Documents Required for Dhani Personal Loan
While Dhani Personal Loans involve minimal paperwork, you’ll still need to submit basic documents:
- Completed Application Form: Including passport-sized pictures.
- KYC Documents: Such as Aadhaar card for identity verification.
- Address Proof: To confirm your residence.
- PAN Card Information: To fulfill tax-related requirements.
- Bank Account Information: To facilitate loan disbursement.
- Pay Slips: Typically for the previous three months.
- Audited Financial Statements: For the last two years.
- Any Other Documents: As requested by the lender.
The convenience of uploading these documents directly through the mobile or web application streamlines the application process.
Dhani Personal Loan Apply Online?
Availing a Dhani Personal Loan is a hassle-free process. Here are the steps to follow for a seamless experience:
- Install the Indiabulls Dhani Personal Loan app from the Play Store or the App Store.
- Enter your phone number and verify it using the OTP sent to your number.
- Fill in the loan amount and other required details.
- Provide the necessary information, including employment status, salary details, PAN, and residence.
- Submit your Loan application.
The lender will process your application and confirm your identity once you have provided all the necessary information. The sanctioned amount will be sent directly to your account if your loan application is approvedafter yourt.
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Dhani Personal Loan Customer Care Number
If you have questions or require assistance, Dhani’s customer support team is readily available:
- Call: 0124-6555-555
- Email: support@dhani.com
Do note that the customer support team is available via call between 8 AM and 8 PM. If your query isn’t resolved through these options, you can contact the corporate and registered offices, the addresses of which are available on the lender’s official website.
Indiabulls Dhani Loan Verification Process
Verifying your Indiabulls Dhani Personal Loan is a straightforward process:
- After applying through the Dhani personal loan app, you’ll receive an OTP on your registered phone number.
- Enter the OTP for verification.
- Provide your loan amount and basic details.
- Your identity will be verified, and upon approval, the loan amount will be transferred to your bank account within minutes.
- You can then start making Dhani loan payments online through easy EMIs.
How to Check Indiabulls Dhani Application Status?
Checking your Dhani Loan application status is simple:
- Download the Dhani app from Google Play (Android) or the App Store (iOS).
- Log in using your Indiabulls personal loan login credentials.
- Click on the type of loan you’ve applied for.
- Your Indiabulls personal loan application status will be displayed on the screen.
How Does Dhani Mobile App Work?
The Dhani mobile app simplifies the loan application process:
- Download and install the Dhani personal loan app from Google Play or the App Store for free.
- Enter your contact number to receive an OTP which has to be entered in the required space for verification.
- Once your phone number has been validated, you must need to input the necessary loan amount.
- Then, you will be asked to provide details about yourself including whether you are employed by a company or are self-employed, the industry in which you work, how you receive your pay, your residence, your PAN Card number, and other facts.
- After entering all the required details, your identity will be verified.
- Then the approved loan amount will be directly transferred to your bank account within a few minutes.
- You can also use Dhani app for making online Dhani Loan payment, managing and tracking the loan account, and repaying outstanding amounts.
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Dhani Personal Loan Review
- I recently tried out the Dhani app, and I must say, it’s a really great app! When it comes to safe transactions and payments, Dhani stands out as one of the safest options available. I’m impressed by the software creation team’s great work. Plus, with the Dhani Pay card option, you have the freedom to make payments using your wallet anywhere and anytime. The loan facility is super easy and highly beneficial too.
- The customer service team is amazing and always ready to help. While the app itself is fantastic, there’s one suggestion I’d like to make. It would be great if we could expand our credit limit and use it all at once. Maybe Dhani can consider adding this feature in the future. Overall, I’m happy with the services provided.
- While the app itself is fantastic, there’s one suggestion I’d like to make. It would be great if we could expand our credit limit and use it all at once. Maybe Dhani can consider adding this feature in the future. Overall, I’m happy with the services provided.
- The app consistently delivers products on time, and refunds for canceled products are processed within 5-7 days. It’s a reliable service overall.
- I would definitely recommend this app. It’s simple to use, and aesthetically pleasing, and although there were some initial issues with PAN Card verification, it’s generally straightforward. The minor bugs can be fixed, but they don’t make it complicated to use.
Conclusion
Dhani Personal Loans and Dhani Loans and Services Personal Loans offer a seamless and convenient way to access financing for various needs. With competitive interest rates, flexible repayment tenures, and a straightforward application process, these loans cater to a wide range of borrowers. Whether you need funds for a medical emergency, a dream vacation, home renovation, or any other purpose, Dhani Personal Loans provide a reliable and accessible solution.
Remember to carefully review the terms, interest rates, and fees before applying for a Dhani Personal Loan to ensure it aligns with your financial goals. Meeting the eligibility criteria and maintaining a good credit profile can help you secure a loan at the best possible terms. So, when life throws unexpected financial challenges your way, consider Dhani Personal Loans as a reliable option to bridge the gap and achieve your goals.
FAQ
1. Dhani loan real or fake?
Dhani is a real and legitimate loan provider in India. It is a subsidiary of Indiabulls Ventures Limited, which is a listed company on the Indian stock exchanges. Dhani is regulated by the Reserve Bank of India.
2. Is Dhani personal loan safe?
Yes, Dhani personal loan is safe. Dhani uses the latest security technologies to protect your data. It does not share your data with any third parties without your consent.
3. What is the minimum loan in Dhani?
The minimum loan amount in Dhani is Rs. 1,000.
4. How much loan we can take from Dhani app?
The maximum loan amount you can take from Dhani app is 15 lakhs but some cases this amount depends on your creditworthiness. Dhani will consider your income, credit score, and other factors when determining your loan eligibility and amount.
5. What is Dhani instant personal loan?
Dhani instant personal loan is a type of loan that is disbursed quickly, usually within 24 hours. You can apply for a Dhani instant personal loan online or through the Dhani app. To apply, you will need to provide your basic personal information, income details, and employment status. Dhani will review your application and disburse the loan if you are eligible.
Last Updated on 8 months
