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Dena Bank Home Loan

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Processing Fee

nil*

Max Tenure

nil*

Best Rate

8.25%

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About Dena Bank

Headquartered in Mumbai, Dena Bank is an Indian banking and financial services company. The Bank has a network of 1,773 branches across India. It provides a wide range of banking products and financial services to retail and corporate customers.

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What Is a Home Loan?

Home Loan is offered to individuals who wish to construct or buy a house. The property bought or about to be constructed is mortgaged as collateral until the repayment of the loan is completed with full interest. The repayment of the loan generally depends on the capacity of the borrower. Normally, the home loan tenure ranges between 5 to 30 years. The borrower can opt either for floating type of interest or fixed interest rate. Home loan provides tax benefits to the borrowers.

An Introduction to Dena Bank Home Loans

Dena Bank offers a wide range of services in the personal loan segment. It is the most preferred bank by all kinds of people for any financial service. Dena Bank provides customised home loan solutions for purchase of a house, construction and extension of dwelling units. Packed with exclusive benefits, Dena Bank Home Loans are tailor made, catering to the needs of various customers.

Advantages of Dena Bank Home Loans

  • Attractive interest rates with floating and fixed type based on your preference
  • Low processing fees
  • Less paperwork
  • No prepayment charges
  • Easy home loan balance transfer
  • Transparent application process
  • Flexible repayment options

Features of Dena Niwas Housing Finance Scheme

Key Highlights

Eligibility CriteriaSalaried and Self-Employed
Loan TenureUp to 30 years
Loan AmountUp to 2 crores
Interest Rate8.25% (Base Rate)
Processing Fees0.50% of the loan amount sanctioned
Prepayment ChargesNil

Objective:

Dena Bank home loan aims to help millions of people achieve their dream of owning a house.

Loan Amount:

Up to 2 crores

Loan Tenure:

Up to 30 years of repayment period is available under Dena Bank home loan scheme.

Prepayment Charges:

No penalty is levied on prepayment

Processing Fees:

0.50% of the loan amount.

Interest Type:

Floating and Fixed

Home Loan Transfer:

You can transfer your home loan from other bank to Dena Bank at ease.

Dena Bank Home Loan
Apply for Dena Bank Home Loan

Top Up Home Loan

Dena Bank allows you to get additional funding over your existing home loan. It can be used to renovate your house, fund your child’s education, new home theatre system etc.

Interest Rate on Dena Bank Home Loan

MCLRSpreadEffective Rate of Interest
Up to 75 Lakhs8.25%0.008.25%
Above 75 Lakhs8.25%0.108.35%

Eligibility Criteria:

To avail the home loan from Dena Bank, you need to have the following eligibility criteria.

  • You should be over 21 years of age and 65 and below at the time of loan maturity.
  • Steady source of income

Documents Required to Apply for Dena Bank Home Loans

Important documents to be submitted while applying for home loan with Dena

  • Completed loan application
  • 3 Passport size photographs
  • Proof of identify (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
  • Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill)
  • Statement of Bank Account/ Pass Book for last six months
  • Form 16/IT returns for the last two financial years for salaried employees
  • IT returns for the three years for self-employed professionals
  • Property tax receipt
  • Proof of business address for non-salaried individuals
  • Personal assets and liabilities statement

For guarantor (wherever applicable):

  • Personal Assets and Liabilities Statement
  • 2 passport size photographs
  • Proof of identification as above
  • Proof of residence as above
  • Proof of business address as above
  • Signature identification from his/her present bankers

EMI Payment Methods

Your Dena Bank home loan can be repaid in following three ways.

Standing Instruction (SI):

If you are an existing account holder with Dena Bank, Standing Instruction is the best mode of repayment. Your EMI amount will be debited automatically at the end of the monthly cycle from the Dena Bank account you specify.

Electronic Clearing Service (ECS):

This mode can be used if you have a non-Dena Bank account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.

Post-Dated Cheques (PDCs):

You can submit post-dated EMI cheques from a non-Dena Bank account at your nearest Dena Bank Loan Centre. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.It is recommended that you opt for either the SI or ECS mode of payment for faster and less prone to error than the use of PDCs.

How to Apply for Dena Bank Home Loan?

You can either apply online or visit a nearby Dena Bank branch for the application. You can also download the home loan application form from the Dena Bank official website, complete the form and submit it the bank representative.

You can also check your eligibility for a home loan through CreditMantri and apply for it.

Summary of Dena Bank Home Loans

With attractive interest rates and low processing fees, Dena Bank caters to the needs of various sections of people. Floating and fixed type of interest rate are available according to the preference of the customers. The borrowers can prepay the Dena Bank home loan without any penalty. Dena Bank home loan is the best option to buy or construct your dream house.

Dena Bank Home Loan FAQs

1. What are processing fees on Dena Bank Home Loans?

The processing fee is 0.50% of the loan amount sanctioned

2. Is there penalty for prepaying the Dena Bank Home Loan?

No penalty is levied for prepaying the Dena Home Loan.

3. Can I top up my existing Home Loan?

Yes, you can get additional funding on your existing home loan.

4. What is the maximum loan repayment period for Dena Bank home loans?

The maximum repayment period is 30 years.

5. How Can I apply for Dena Bank home loan?

You can either apply online or visit a nearest Dena branch and take the help of the bank’s representative.

6. What is the maximum loan amount provided by Dena Bank?

NThe maximum loan amount is 2 crores.

7. Does Dena Bank facilitate balance home loan transfer?

Yes, you can transfer your existing home loan to Dena Bank.

8. Can I get tax benefits from Dena Bank Home Loan?

As per Section 80C read with section 80CCE of the Income Tax Act, 1961 the principal repayment up to INR 150,000 on your home loan will be allowed as a deduction from the gross total income subject to fulfilment of prescribed conditions.

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