Interested in financial products
Processing

Deutsche Bank Home Loan Interest Rate

While availing for a home loan from a bank or any other financial institutions, you would be expected to pay them back in the form of EMIs along with an interest rate. This interest rate varies from bank to bank. Deutsche Bank provides you with home loans for home extensions, home improvement and for homes that are yet to be constructed and for homes or flats that are ready to live in.

Deutsche Bank Home Loan Interest Rate

The Marginal Cost of Funds based Lending Rate (MCLR) for Deutsche Bank, Indian branches is as below:

TenureMCLR (per annum)
Overnight8.15%
One month8.60%
Three months9.60%
Six months9.60%
One year10.10%

How is the interest charged or calculated?

Home loans at Deutsche Bank have two schemes:

  • Fixed Rate Home Loans
  • Floating Rate Home Loans

If you are opting for a Floating Rate Home Loan, the interest rate will be linked to the Deutsche Bank Base Rate. The rate applicable on the date of disbursement remains fixed for the duration of the fixed period under the Fixed Rate Home Loan.

Deutsche Bank Home loan information

  • Depending on the type of loan availed and the value of the property that is being bought, up to Rs. 15 crores can be borrowed.
  • The quantum of the loan is up to 80% of the value of the property.
  • Documentation is simple and easy, leading to a quicker processing of the application submitted.
  • You can benefit from transferring your home loan from one bank to another. While transferring the loan, if you had been paying a higher interest rate with the previous bank, you can transfer your outstanding balance to Deutsche Bank and pay the current interest rates.
  • Loan tenure options ranges from 5 years to 20 years.
  • Including your spouse as a co-applicant for the loan will enhance your home loan amount as their income will be included.
  • Types of Home Loans
    • Home loan on completed or under-construction properties
    • Home Improvement Loan
    • Home Extension Loan
    • Balance Transfer
    • Home Loan for NRI
    • Top-Up Loan

Eligibility Criteria of Deutsche Bank Home Loan

 SalariedSelf-employed
Minimum age23 years23 years
Maximum age65 years/retirement whichever is earlier65 years
Minimum Gross Annual IncomeRs. 5,00,000Rs. 5,00,000

Documentation required for Deutsche Bank Home Loan

  • Photo identity (any one)

    • Valid passport
    • Photo PAN Card
    • Voter’s ID Card
    • Valid Driving License
    • Job card issued by NREGA duly signed by an officer of the state government
    • Aadhar Card or Letter issued by the UIDAI
  • Proof of address (any one)

    • Valid passport
    • Voter’s ID Card
    • Valid Driving License
    • Job card issued by NREGA duly signed by an officer of the state government
    • Aadhar Card or Letter issued by the UIDAI
  • Proof of Signature (any one)

    • Valid Passport
    • Voter’s ID card
    • Driving License
    • PAN Card
  • Proof of Age (any one)

    • Valid passport
    • PAN Card
    • Birth Certificate
    • Voter’s ID Card
    • Valid Driving License
    • Job card issued by NREGA duly signed by an officer of the state government
    • Aadhar Card or Letter issued by the UIDAI
  • Financials

Salaried:

  • Salary slip of last three months
  • Form 16 or ITR
  • HR certification showing all allowances and reimbursements (if any)
  • Copy of bank statements for last 6 months
  • Repayment details on any existing loans or loan closure letter

Self-employed

  • Income tax returns for the last 2 years
  • Profit and Loss Account along with computation of Income and Balance Sheet for last 2 years, duly certified by a CA
  • Proof of business continuity for last 3 years
  • Copy of bank statement for the last six months
  • Short note on the nature of business, form of organization, clients and suppliers, etc.

Eligibility Criteria of Deutsche Bank Home Loan

Fee TypeCharges
Administration feesUp to 1% of the loan amount disbursed
Switch fee/Repricing feeUp to 0.5% of principal outstanding
Transaction feeRs. 500
Default interest rate24% per annum
Document retrieval chargesRs. 500
Taxes and other government leviesAs applicable

FAQs: Deutsche Bank Home Loan Interest Rate

1. Can we transfer home loans from another bank to Deutsche Bank?

You can benefit from transferring your home loan from one bank to another. While transferring the loan, if you had been paying a higher interest rate with the previous bank, you can transfer your outstanding balance to Deutsche Bank and pay the current interest rates.

2. What is the maximum amount that can be borrowed?

Depending on the type of loan availed and the value of the property that is being bought, up to Rs. 15 crores can be borrowed.

3. What is the minimum income for being eligible for a home loan?

The Minimum Gross Annual Income for salaried and for self-employed individuals is Rs. 5,00,000.

4. What are the loan tenure options provided?

Loan tenure options range from 5 years to 20 years.

5. Can there be co-applicants when availing a home loan?

Yes, including your spouse as a co-applicant for the loan will enhance your home loan amount as their income will be included.

×Thank you! Your comment will be reviewed and posted shortly.

Write a review

CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.