DCB (Development Credit Bank) is a private sector scheduled commercial bank which is managed, regulated and governed by Reserve Bank of India (RBI). The bank serves various sectors, such as private banking, co-operative banking, SMEs, NBFCs, and retail, corporate, public, agriculture, commodities and government sectors. DCB provides state-of-the-art internet banking for personal, as well as business banking services to its customers. Home loan offered by DCB can be used for various purposes that include the purchase or construction of a new house and self-construction or the purchase of land.
DCB Bank Home Loan Interest Rate 2019
|Interest Rate||10.25% Onwards|
|Loan Amount||Min. Rs. 10 lakhs & Max. up to Rs. 5 crore|
|Processing Fee||Upto 2% of the loan amount, Min. of Rs. 5000|
|Loan-To-Value (LTV) Ratio||90% of the property value|
|Interest Rate Type||Fixed and Floating, both|
Interest rates are subject to periodic change and defined at the sole discretion of the respective bank, NBFC or RBI.
Let’s further gain some important information related to the fees & charges applicable.
|Fees & Charges for DCB Home Loan|
|Pre-payment / Foreclosure Charges||Nil on floating interest rate|
|Re-pricing Charges||Upto 1% of outstanding loan amount (Minimum Charges of Rs. 5,000)|
|Penal Charges||3% per month|
|Cheque/ECS Swap Charges||Rs. 500 per event|
|Property Document Retrieval Charges||Rs. 500 per event|
|Cheque Bounce Charges||Rs. 500 per instance|
|Amortization Schedule||Rs. 100 per schedule|
|NOC (No Objection Certificate)||Rs. 100 per instance|
|Loan Agreement Copy||Rs. 500 per copy|
Note: Annual Maintenance Charges: If in case the average utilization of the outstanding loan amount is less than 70% from the date of full loan disbursement. The annual maintenance charge of up to 1% will be levied on the principal outstanding amount at the end of year.
Features of DCB Bank Home Loan
Loan Amount: DCB runs several customized programs that help to calculate and estimate the loan requirement of the applicants based on their net monthly salary or income generated on monthly basis. The bank offers maximum loan amount up to Rs. 5 crore and minimum of Rs. 10 lakhs to meet the customers’ financial requirements.
Quick Loan Approvals: DCB provides assistance via their dedicated relationship managers that help in making the whole process simpler and easy to understand.
Availability of Home Loan Balance Transfer (HLBT) facility: Customers can avail best available deals offered by another lender at comparatively low interest rates by choosing their HLBT facility. This facility helps the existing customers in transferring their outstanding loan amount to the lender of their choice. To shift your loan from existing lender to another, additional charges may be applicable.
Home Loan Insurance at Low Price: Like term insurances, home loan insurance is equally important for customers. Even though it is not compulsory to take but most of the lenders add the premium of home loan insurance in the loan amount to be repaid. DCB also provides home loan insurance at reasonable premium that helps their customers to cover their loan amount in case of critical illness or death.
Extensive Network: The bank manages around 144 branches across 85 cities nationwide. Its team of dedicated professionals makes it easy and convenient for their customers to avail home loan.
DCB Bank Home Loan Documents Required
|Duly filled application form with self-attested photograph|
|Age Proof (Birth Certificate, Passport, 10th Pass Certificate, PAN card)|
|Proof of Residence (Voter’s ID card, Passport, Driving Licence)|
|Proof of Identity (Passport, Voter’s ID card, Passport, Employer’s card)|
|3 month’s salary slips||Proof of business existence in years|
|Form 16||2 years’ of Income Tax Returns (ITR) along with Financial Statements|
|ITR last 2 years||Last 6 months’ bank statements (Individual & Business, both)|
|Copy of Title Documents|
|Processing Fee Cheque|
DCB Home Loan Eligibility Calculator India 2019
|Eligibility Criteria||DCB Bank Home Loan|
|Eligible Age||21 – 60 years|
|Loan Amount||Rs. 10 Lakh to Rs. 5 Cr|
|Maximum loan as percent of property value||Upto 80%|
|Maximum EMI as percent of income||Up to 65%|
Suppose, if your salary is Rs. 25,000 and you want buy a house worth Rs. 50 lakh, then at interest rate of 10.24% offered by DCB Bank, the loan amount that you will be eligible for would be Rs. 30.42 Lakh to Rs 40 Lakh only if you don;t have other EMIs and you are at age between 20-30 years.
Applying for DCB Home Loan with paisabazaar.com
You can apply for DCB home loan by just visiting paisabazaar.com and submitting loan related information, such as loan amount, rate of interest and loan tenure. Further you may submit your personal details to start the loan process. You can also use its slider for providing loan related information. After the loan application submission, one of our expert advisors will call you as per your desired time to discuss the various deals and shall guide you to check, compare and pick from the best available loan options. You can also visit DCB’s official website and apply for a home loan online.
DCB offers customer support services via 24×7 phone banking, branch banking, internet banking, mobile banking app, UPI app and missed call app.
DCB operates 323 branches as on Jan 2019 across the states that include New Delhi/NCR, Union Territories of Chandigarh, Daman & Diu and Dadra & Nagar Haveli, Gujarat, Madhya Pradesh, Maharashtra, Goa, Andhra Pradesh, Bihar, Haryana, Telangana, Uttar Pradesh, Chhattisgarh, Rajasthan, Uttrakhand and Karnataka.