The paper is devoted to the detailed study of the way by which the inductance of the two junction interferometer (DC SQUID) influences its voltage current characteristic and the low frequency current noise. A rigorous mathematical procedure for the calculation of the averaged voltage across the symmetrical DC SQUID is developed for the nonzero values of the interferometer loop inductance L. The L-dependent part of the voltage noise which comes from the low frequency fluctuations of the junctions' critical current is also found. The obtained results can be used for the correct evaluation of the important SQUID characteristics and for the development of the effective techniques for the electronic cancellation of the low frequency fluctuations in practical devices.
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