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DCB Bank Home Loan Interest Rate

Owning a home is the dream of almost every Indian, if not the aim of millions the world over. It is a valuable, and usually an appreciating, asset. Taking a home loan is not a piece of cake and demands a significant chunk of your income towards making your monthly EMI payment.

Banks and other financial institutions have developed a variety of home loan options for customers to choose from in order to fill the huge demand. Whether you are only thinking about buying a property, or have already started looking at properties, the most important deciding factor when considering various home loan options is typically the interest rate.

Interest rates for a home loan applicant is determined based on various factors such as credit score, age, income, employment, etc. If you are able to fulfil all the eligibility criteria of a home loan, you are likely to get a better interest rate. DCB Bank, one of the popular banks in India, offers competitive interest rates on home loans.

DCB Bank Home Loan Eligibility

Following are the criteria for applying for a home loan with DCB Bank.

For the salaried:

This category includes salaried doctors, employees of public and private limited companies, Government sector employees and salaried CAs. You are eligible for a DCB Bank home loan if you satisfy the following criteria:

  • You are at least 23 years of age at the time of loan application
  • You must have a work experience of at least 2 years
  • You must demonstrate a stable employment history and consistent income.

For the self-employed:

This category includes self-employed doctors (MBBS and higher degree), Architects, Chartered Accountants, Company Secretaries, Engineers and MBA consultants. You are eligible for a DCB Bank home loan if you satisfy the following criteria:

  • You are a minimum of 25 years at the time of loan application
  • Your minimum annual net income post-tax is over Rs. 5 lakhs

DCB Bank Current Home Loan Interest Rate and Other Charges

The following are the interest rates of DCB Bank home loans.

Minimum interest rate9.40%
Minimum APR9.44%
Maximum rate of interest18%
Maximum APR18.67%
Average interest rate12.72%

Other Charges of DCB Bank Home Loans

Loan Processing Fee/Charges (Non-refundable)Up to 2% of the loan amount, subject to a minimum of Rs. 5,000
Full Prepayment (Foreclosure) Charges
  • No foreclosure charges for home loans taken in floating rate of interest.
  • For fixed rate of interest, disbursement charges + applicable taxes would be levied as prepayment charges.
  • No prepayments are allowed until completing first 12 EMIs.
Part Prepayment Charges
  • For foreclosing the loan before three years, 4% of the outstanding loan amount will be charged as prepayment charges.
  • For foreclosing the loan after three years, 6% of the outstanding loan amount will be charged as prepayment charges.
Re-Pricing ChargesUp to 1% of outstanding loan amount (Minimum Fee/Charges of Rs.5,000)
Penal Interest3% per month
Cheque/ECS Swap ChargeRs. 500 per event
Property Document Retrieval ChargeRs. 500 per event
Cheque Bounce ChargeRs. 500 per event
Amortization ScheduleRs. 100 per schedule
Statement of AccountRs. 100 per statement
Foreclosure StatementRs. 100 per statement
Duplicate ‘No Objection Certificate’/ ‘No Dues Certificate’Rs. 100/-
Revalidation of ‘No Objection Certificate’Rs. 100 per NOC
Provisional Income Tax CertificateNIL
Final Income Tax CertificateNIL
Interest CertificateNIL
Change of AddressNIL
Loan Agreement CopyRs. 500 per event
‘No Objection Certificate’/’No Dues Certificate’NIL

Note: The above interest rates and other charges are subject to periodic review. The final pricing will be based on your income, loan amount, loan tenure, and the bank’s internal policies and the applicable rates at the specific time.

DCB Bank Home Loan Overview

Whether you are looking for a property, or wish to construct your own house, you could perhaps consider DCB Bank home loans. Following are the features and benefits of DCB Home Loans.

  • Flexible repayment tenure up to 25 years.
  • Attractive interest rates starting from 9.40%
  • A dedicated platform to answer all your queries
  • The loan amount ranges between Rs. 10 Lakhs to Rs. 5 Crores
  • Hassle-free documentation process
  • Part prepayment and full prepayment allowed
  • You can also avail balance transfer facility.
  • Attractive insurance plans at reasonable premiums

How to Apply for DCB Bank Home Loans

Applying for DCB Bank home loan is easy and quick. You can visit their official website and enter your personal and contact details. You can submit the application online and an executive form the bank will get in touch with you with regard to the application process.

You can also call up the customer care team of DCB Bank and get guidance to apply for the home loan. You may have to keep all your documents ready to proceed with the process.

If you are unfamiliar with the above process, you can just walk into any branch of DCB Bank and apply for the home loan. After all the checks are carried out, your loan will be pushed for approval.

DCB Home Loan FAQs

1. Who is eligible to avail a home loan from DCB Bank?

Salaried individuals, self-employed professionals, and self-employed non-professionals are eligible to apply for a home loan from DCB.

2. I am an NRI looking for a home loan from DCB Bank. Am I eligible to apply?

Yes, DCB Bank provides home loans to NRI customers as well. Keep in mind that your documentation must be in place.

3. What is the maximum loan term that I can avail by taking a home loan from DCB Bank?

The maximum loan tenure offered by DCB Bank on its home loan is 30 years.

4. Is there a prepayment charge or foreclosure charge?

You can make a full or part payment towards paying off your loan before your tenure. This is subject to penalty charges.

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