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- DSA Loan
Instant online approval. Apply online and get approved in 3 working days
Loan amount from Rs 50,000 - Rs 30 Lakhs
Flexible repayment tenures between 1 to 5 years
Apply for Loan Against Property
Features of DSA Loan
Approval in 5 minutes
Meet our basic eligibility criteria and get instant approval.
Money in your bank in 24 hours*
Get your personal loan amount on the same day of approval.
45%* lower EMls with Flexi personal loan
Pay interest-only EMIs and reduce your monthly instalments.
60 months to repay your loan
Choose a convenient tenor ranging up to five years.
No hidden charges
Read about the fees and charges on your personal loan and stay informed.
Personal loan EMIs starting Rs. 1,104/lakh
Borrow as per your needs and manage your personal loan EMIS with ease.
Calculate EMI with MAKS Finserv DSA Loan EMI Calculator
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DSA loan eligibility criteria
Nationality
Indian
Age
21 years to 67 years*
Employment
Working at an MNC, public or private company
CIBIL score
750 or higher
Monthly salary
Starting Rs. 22,000, based on your city of residence.
Documents required
You need the following documents while applying for a MAKS Finserv DSA Loan:
- KYC documents
- Employee ID card
- Salary slips of the previous 2 months
- Last 3 months’ bank statements of your salary account
Current DSA Loan interest rate, fees and charges
With a MAKS Finserv DSA Loan. You can get up to Rs. 25 lakh at an attractive interest rate. The loan comes with no hidden charges and 100K transparency, which make your overall borrowing experience seamless.
| Types of fees | Charges applicable |
|---|---|
| Interest rate | 13K onwards |
| Processing fees | Up to 49% of the loan amount (plus taxes) |
| Penal interest | Any delay in payment of monthly instalment/ EMI shall attract penal interest at the rate of 296 to 496 per month. |
| Part—prepayment charges** | 2K + applicable taxes on part—payment amount paid |
| Bounce charges Stamp duty | Rs. 600 — Rs. 1.200 per bounce (inclusive of applicable taxes) |
*”These charges are not applicable for the Flexi Loan facility. Moreover, the part—prepayment should be more than 1 EMI.
Types of personal loan interest rates
Personal loans come with two types of rates of interest: Fixed interest rate and floating interest rate.
1. Fixed interest rate
As the name suggests, the interest rate remains the same throughout the loan tenor. Thus. the loan E Ils will also remain constant.
2. Floating interest rate
A floating, adjustable, or variable interest rate is linked to an internal benchmark of a financial institution. Changes to this benchmark will affect the rates. Hence, floating rates vary throughout the loan tenor.
Both of these rates have advantages and disadvantages. Fixed rates keep ENls constant, which helps in budgeting. On the other hand, floating rates go up or come down along with the internal benchmark rate.
Methods for Interest Calculation on Personal Loan
1. Flat rate method
In this method, the applicable rate of interest is charged on the entire principal throughout the tenor.
2. Reducing balance method
In the diminishing balance or reducing balance method, the applicable rate of interest is chargeable on the outstanding principal after each EMI is paid off. Thus, the interest is calculated every month on the loan balance. Borrowers pay lower interest on the loan compared to the flat rate method.
Interest rate calculation formula
The interest rate for a personal loan through the flat rate method and the reducing balance method is calculated using the following formula:
1. Flat rate method
The rate of interest is chargeable on the entire loan principal. The formula for this method is — ENI = (principal + total interest payable) / loan tenor in months Wherein, total interest payable = P x r x n/100
Contact MAKS Finserv Customer Care
Contact MAKS Finserv Customer Care If you are a new customer who is looking for information about the MAKS Finserv DSA Loan, or
if you would like to contact us. you can:
• Visit our branch by finding us on Google
• SMS HELP to +91 9717708810
Frequently Asked Questions
- All communications to the borrower shall be in the vernacular language or a language as understood by the borrower.
- Loan application forms shall include necessary information which affects the interest of the borrower, so that a meaningful comparison with the terms and conditions offered by other Financial Services Companies can be made and informed decision can be taken by the borrower. The loan application form indicates the documents required to be submitted with the application form.
- The company shall give acknowledgement for receipt of all loan applications with an indicated time frame within which decision on the completed loan application will be taken.
- The company shall convey in writing to the borrower in the vernacular language as understood by the borrower by means of sanction letter or otherwise, the amount of loan sanctioned along with the terms and conditions including annualised rate of interest and method of application thereof and keep the acceptance of these terms and conditions by the borrower on its record.
- The Company shall clearly mention the penal interest charged for late repayment in the loan agreement.
- The company shall furnish a copy of the loan agreement along with a copy each of all its enclosures to all the borrowers at the time of disbursement of loans.
- The company shall give notice to the borrower in the vernacular language as understood by the borrower of any change in the terms and conditions including disbursement schedule, interest rates, service charges, prepayment charges etc. Changes in interest rates and charges shall be effected only prospectively as mentioned in the loan agreement.
- Decision to recall / accelerate payment under the agreement shall be in consonance with the loan agreement.
- The company shall release all securities on repayment of all dues or on realization of the outstanding amount of loan subject to any legitimate right or lien for any other claim the company may have against borrower. If such right of set off is to be exercised, the borrower shall be given notice about the same with full particulars about the remaining claims and the conditions under which the company is entitled to retain the securities till the relevant claim is settled/paid.
- The Company shall frame appropriate internal principles and procedures for determining the interest rates and processing and other charges, if any, and also to ensure that they are not excessive. The Company shall, at the time of disbursal, ensure that the interest rate and other charges, if any, on loan and advances are in strict adherence to above referred internal principles and procedures.
- The Company shall disclose in the application form and explicitly in the sanction letter the rate of interest and the approach for gradation of risk and rationale for charging different rate of interest to different categories of borrowers.
- The Company shall publish the rates of interest and the approach for gradation of risks in the relevant newspapers or in the website of the Company, and shall be updated whenever there is a change in the rate of interest.
- The rate of interest shall be annualized rates to make the borrower aware of the exact rates that would be charged to the account.
