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Dena Bank is a Public Sector Bank founded on 26 May 1938, by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company. It adopted its new name, Dena Bank, derived from its founder, when it was incorporated as a public company in December 1939. Headquartered in Mumbai, Dena Bank was nationalized in July 1969 by the Government of India. It is one amongst the six Public Sector Banks selected by the World Bank for sanctioning a loan of Rs. 72.3 crores for augmentation of Tier-II Capital under Financial Sector Developmental project in the year 1995. It also prides itself for being one among the few banks to receive the World Bank loan for technological upgradation and training.
About Dena Bank
What’s more, Dena Bank has also introduced tele-banking facility in select metropolitan centres. November 1996 proved to be a significant year for the Bank, as it launched a bond issue of Rs. 92.13 crores.
Another milestone was reached with a maiden public issue of Rs. 180 crores soon thereafter. Dena Bank also deserves credit for being the bank that first introduced minor savings scheme. The list of firsts by Dena Bank encompasses – credit card in rural India known as “Dena Krishi Sakh Patra”, Drive-In ATM counter of Juhu, Mumbai, smart car at selected branches in Mumbai, and customer rating system to the assess and evaluate Dena Bank services. The wide spectrum of Dena Bank financial services have created countless satisfied customers. Dena Bank interest rates are flexible, thus catering to customers’ convenience to the fullest. Under the provisions of the Banking Regulations Act 1949, the Bank can undertake other business, besides the business of banking.
Vision and Mission:
Dena Bank is motivated by the vision of emerging as the most preferred bank of the customers. Dena Bank banking services seek to excel in all its areas of operation, and consequently enjoy widespread popularity and reputation by sheer dint of its performance. According to the mission statement of the Bank, it aims to provide premier financial services to its customers. It is also committed to creating a positive work environment for its staff, besides providing optimum opportunities for growth and achievement. When it comes to shareholders, the bank believes in ensuring superior financial returns, while for the community as a whole, Dena Bank is determined to promote and enhance economic upliftment. The founding fathers of the Bank desired that the Bank should emerge as a symbol of prosperity for all its clients, and the logo represents this promise. Further, the ‘D’ in the logo symbolizes dynamism, dedication, and the drive towards customer satisfaction.
Dena Bank Loans
Dena Bank Loan Against Property: This loan is offered against free hold, un-encumbered, non-agricultural property. With the Dena Mortgage Loan, one can fund varied needs, be it a wedding, higher education, a foreign trip, or medical treatment. The applicant should be 21 years of age, and a salaried individual/working professional/self-employed/agriculturist. He/she also needs to be an income tax assessee for at least 2 years, with a net monthly income of at least Rs. 12,000. The income of spouse can also be clubbed to enhance one’s eligibility. Loan against property from Dena Bank offers a maximum amount of Rs. 500 lakhs, while the minimum amount is Rs. 2 lakhs. The repayment period is up to 10 years. Dena Bank Loan Against Property rates have been specially tailored keeping customer convenience as the topmost priority.