DCB Bank Home Loan Details 2020
|Interest Rate||10.24% onwards|
|Loan Tenure||Up to 20 years|
|Loan-to-Value Ratio||Up to 90% of the property value|
|Processing Charges||Up to 2% of the loan amount, subject to a minimum of Rs.5,000|
DCB Bank offers home loans at a competitive interest rate starting from 10.24%. The bank offers balance transfer facility along with an attractive insurance on home loan plan at a reasonable premium to cover the loan amount in the event of death or critical illness of the borrower.
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Features and Benefits of DCB Bank Home Loan
- High loan-to-value ratio of up to 90%
- Easy and fast approval
- Competitive interest rate
- No hidden charges
- Attractive insurance plan
- Top Up on existing home loan
DCB Bank Home Loan Interest Rates
The rate of interest offered by DCB Bank Home Loan is directly linked with the external Benchmark Linked Rate (EBLR), which currently stands at 8.84%. The total interest rate applicable on a home loan is the combination of EBLR and Credit RISK Premium basis the customer’s CIBIL score. Currently, the ROI for home loan starts from 10.24%.
DCB Bank Home Loan Processing Fee and Other Charges
|Processing Fee||Up to 2% of the loan amount, subject to a minimum of Rs.5,000|
|Documentation Charges||0. 10 % of the loan amount (Maximum: Rs.10000)|
|Penal Interest (in case of default)||1% additional levy over existing Rate of Interest|
|Re-Pricing Charges (Home Loan including PayLess Loans)||Up to 1% of the outstanding loan amount (Minimum Fee/Charges of Rs.5,000/-)|
|Penal Interest||3% per month|
|Cheque/ECS Swap Charge||Rs. 500/- per event|
|Property Document Retrieval Charge||Rs. 500/- per event|
|Cheque Bounce Charge||Rs. 500/- per event|
|Amortization Schedule||Rs. 100/- per schedule|
|Statement of Account||Rs. 100/- per statement|
|Foreclosure Statement||Rs. 100/- per statement|
|Revalidation of ‘No Objection Certificate’||Rs. 100/- per NOC|
|Provisional Income Tax Certificate||NIL|
|Final Income Tax Certificate||NIL|
|Change of Address||NIL|
|Loan Agreement Copy||Rs. 500/- per event|
|No Dues Certificate||NIL|
* Goods and Services Tax (GST) as applicable will be levied in addition to the mentioned charges.
DCB Bank Home Loan EMI Calculator
DCB Bank Home Loan EMI Calculator helps users know the approximate value of the loan instalments that they need to pay monthly for servicing their home loans. DCB Bank home loan calculator is an online tool which is also available at Paisabazaar.com. It is easy to use and provides quick results. Click to calculate your DCB Bank home loan EMI.
DCB Bank Home Loan EMI Calculation
The table below shows DCB Bank home loan EMI calculation for different interest rates, loan amounts and loan tenures.
|Loan Amount||Interest Rate||EMIs as per Different Loan Tenures|
|15 years||20 years||30 years|
|Rs. 30 lakh||10.24%||Rs. 32,68||Rs. 29,429||Rs. 26,861|
|Rs. 60 lakh||10.48%||Rs. 66,250||Rs. 59,822||Rs. 54,795|
|Rs. 90 lakh||10.65%||Rs. 1,00,324||Rs.90,763||Rs. 83,338|
|Rs. 1 crore||10.85%||Rs. 1,12,720||Rs. 1,02,200||Rs. 94,101|
In the table above, one can notice that home loan EMIs decrease as the loan tenure increases. While choosing a longer tenure reduces your monthly liability but it also increases your total interest payout. Hence, choose your home loan tenure wisely.
DCB Bank Home Loan Eligibility Criteria
Mentioned below is the eligibility criteria to avail home loan from DCB Bank.
|Eligible Profiles||Salaried and Self-employed individuals|
|Loan Amount||Up to 90% of the property value|
|Age||Minimum: 21 years|
Maximum: 70 years (at the time of loan maturity)
Check Also: Home Loan Eligibility Calculator
DCB Bank Home Loan Documents Required
Following are the documents required to successfully apply for DCB Bank Home Loan.
|Salaried Individuals||Self Employed Individuals|
|Duly filled in and signed the application form with photographs||Duly filled in and signed application form with photographs|
|Identity, address and age proof||Identity, address and age proof|
|Salary slip of last 3 months||ITR and financial statements, including balance sheet, profit & loss account, schedules. (documents must be certified by a CA)|
|Bank statement of the past 6 months||Bank statement of the past 12 months|
|Form-16 and Income Tax Returns (ITR) details of two years||For partnership firms: Latest partnership deed|
For companies: Latest Memorandum and Articles of Association (CA certificate on profit sharing ratio/list of directors/shareholding partnership)
For Limited Liability Partnership: LLP Agreement
|Title documents of the property||Title document of the property along with business address proof|
Apply for DCB Bank Home Loan on Paisabazaar.com
Customers can apply online for DCB Bank Home Loan through Paisabazaar.com by simply following the below-mentioned steps.
- Follow the link: https://www.paisabazaar.com/home-loan/
- Fill the form by providing relevant details like the loan amount, city of the property, tenure, etc.
- On filling all the required details, click on the ‘Proceed’ button
Soon, a representative from Paisabazaar will contact you on the provided contact number to process your application.
DCB Bank Home Loan Customer Care Details
Customers can reach out to DCB Bank through the below-mentioned contact details to get their home loan-related queries addressed.
- Toll-Free:1800 209 5363/1800 123 5363
Q1. What is the maximum loan amount offered by DCB Bank?
The maximum loan amount available to a borrower is decided on the basis of his/her income statements and cash flows.
Q2. What is the maximum repayment tenure?
The maximum repayment tenure is 20 years or up to the age of 70 years of the applicant at the time of loan maturity.
Q3. What is the security required to avail a home loan?
The security required for a home loan is the equitable/registered mortgage of house/property financed by the bank.
Check Also: Home Loan Prepayment Calculator