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DBS Home Loan Eligibility Calculator

Home Loan Eligibility Calculator DBS Bank 2021

Last Updated 09th Nov 2021

Eligibility CriteriaDBS Bank Home Loan
Eligible Age of Borrower21 - 60 years
Work Experience for Salaried2 years
Business Stability for Self Employed2 years
Home Loan Eligibility Calculator

What is DBS Home Loan Eligibility?

DBS offers various home loan schemes and offers at affordable rates to eligible customers whether salaried or self-employed. DBS home loan eligibility is defined as a set of parameters that determines the creditworthiness of the borrowers based on factors like age, salary, occupation, property type and credit score. You can get details about the eligibility for a DBS home loan using the DBS home loan eligibility calculator. It is an online tool that uses mathematical algorithms to check if you are eligible for a home loan or not. In addition, you can know about the amount that you are eligible for.

How is Home Loan Eligibility Calculated by DBS?

DBS Housing loan eligibility is primarily dependent on income and repayment capacity. Other factors that may impact the eligibility of home loans are age, financial position, credit history, credit score, other financial obligations etc.

DBS Home Loan Eligibility Based on Age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. The minimum DBS Bank home loan age limit to get a DBS Bank home loan is 21 years at the time of loan commencement and maximum age limit is 60 years. DBS Bank offers home loans for a maximum period of 30 Years subject to the condition that the borrower’s age at the end of the tenure must not exceed 60 of tenure.

DBS Home Loan Eligibility Based on Salary

  • Net income: Your net monthly income determines how much DBS Bank home loan EMI you are capable of paying after meeting all the living expenses based on your standard of living. For instance, if your salary is ₹ 25,000 then at an interest rate of 6.70% offered by DBS Bank, the loan amount that you will be eligible for would be ₹ 27,62,184 to ₹ 40,96,252 depending on your age. Similarly, if your salary is ₹ 75,000, you might get eligible for a loan amount of ₹ 55,24,367 to ₹ 81,92,503 for the same property at the same rate depending on your age at the time of loan application. However, DBS Bank asks for a net monthly income of ₹ 0 to avail a home loan.
Age Net Monthly Income (₹)
25,000 50,000 75,000
25 years40.96 Lakh61.44 Lakh81.93 Lakh
30 years40.96 Lakh61.44 Lakh81.93 Lakh
35 years40.96 Lakh61.44 Lakh81.93 Lakh
40 years40.96 Lakh61.44 Lakh81.93 Lakh
45 years35.49 Lakh53.24 Lakh70.99 Lakh
50 years27.62 Lakh41.43 Lakh55.24 Lakh

You may consider repaying any loans with short tenure and high EMI to increase your DBS Bank home loan eligibility.

  • Nature of employment: DBS Bank will check whether you are salaried or self-employed and the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. DBS Bank requires minimum income history and job stability of more than 2 years for salaried individuals and of 2 years for self-employed individuals.

Home Loan Eligibility DBS Bank based on Value of Property

  • Value of property: DBS Bank does not finance the entire property value. The maximum home loan eligibility would depend upon the value of the property as shown below:
Property Value LTV
Less than 30 Lakh90%
Between 30 Lakh and 75 Lakh80%
Above 75 Lakh75%
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the DBS Bank's legal team.

The housing loan eligibility calculator of DBS Bank can be a useful tool to assess your eligibility for the loan.

DBS Housing Loan Eligibility Calculator based on FOIR

FOIR (Fixed Obligation to Income Ratio) is an important parameter used by DBS Bank to determine your home loan eligibility. DBS Bank considers all your fixed obligations like current EMIs into account while estimating your eligibility. The minimum FOIR required to be eligible for an DBS Bank home loan is 0.65. Calculate your eligibility with the DBS Bank home loan calculator and apply for the eligible loan amount hassle-free.

DBS Bank Home Loan Eligibility for Women

DBS Bank offers the same rates to women borrowers starting at 6.70% with similar eligibility criteria for home loan. In the case of a joint home loan, the woman borrower also needs to be the co-owner of the property and should have a good credit history to get the joint home loan application passed for concessional rates.

Minimum CIBIL Score for DBS Home Loan

DBS considers credit score as a barometer to gauge your past credit behaviour, and hence, CIBIL score becomes the most important factor in defining your eligibility to get a home loan. A higher credit score increases your chances to get loan approval from DBS. However, a low CIBIL score reduces your chances to get a home loan. DBS requires a minimum credit score of 650 to be eligible for a home loan.

How to Enhance DBS Home Loan Eligibility?

You can enhance the DBS home loan eligibility using the tips mentioned below:

  • Add an earning family member as a co-applicant.
  • Ensure a steady income flow, regular savings and investments.
  • Provide details of your regular additional income sources.
  • Track your variable salary components.
  • Take actions to rectify errors (if any) in your credit score.
  • Repaying ongoing loans and short term debts.

How to Use DBS’s Home Loan Eligibility Calculator?

To check DBS Bank home loan eligibility perform the following steps:-

  • Go to the DBS Bank website
  • Now navigate to the option DBS Bank home loan
  • To check eligibility criteria use a home loan eligibility calculator.
  • Fill the required details like loan amount required, salary, age etc.

Also, you can contact the bank by calling on their customer care number .

FAQs

What is the criteria to get DBS Bank home loan?

The basic criteria to get a home loan from DBS Bank are as following:

Age21 - 60 years
Income ₹ 0
Income3 years for salaried, 5 years for self-employed
Credit score650 and above

How much home loan can I get on my salary from DBS Bank?

The amount for which you are eligible is calculated based on the FOIR and LTV. The higher your income, and the least is your fixed obligations (mostly ongoing EMIs), the higher will be your eligibility for a home loan.

What is the minimum salary to get home loan from DBS Bank?

The minimum salary required to avail home loan from DBS Bank is ₹ 0.for salaried borrowers. The income criteria for self employed professionals or businessmen may vary in DBS Bank.

Is DBS Bank good for home loan?

The lowest interest rate provided by DBS Bank is 7.30% which is a best rate in the market. There are no prepayment charges on floating rate based home loan. Hence, you can consider this as a good option for housing loan.

Does adding a co-applicant increase housing loan eligibility?

Yes, adding a co-applicant with an independent income source increases housing loan eligibility significantly. By doing so you will be able to get a higher loan amount and also both of you can save on taxes under Income Tax Act.

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DBS Home Loan News - Dec 2021
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    DBS is planning to purchase Citi’s consumer business in India. Citibank announced that it will be exiting from 13 international consumer banking markets, including India and China as part of its global strategy.
  • 2021-03-09 : DBS Bank launched a travel marketplace on the digibank app
    DBS Bank introduced a travel marketplace on the digibank app. It will enable customers to browse and book flights, bus tickets and hotels across hundreds of destinations within and outside of India. DBS bank offers a savings account and currently the interest on the savings account is 4%.
  • 2019-03-06 : DBS Bank inaugurates the first branch in Ahmedabad
    DBS Bank on has inaugurated its first branch in Ahmedabad with a focus on catering to the needs of Small and Medium-sized Enterprises (SMEs), corporate and retail segment. The lender is increasing its presence in the state as well as the nation also by opening eight more number of bank branches. The lender has further plans to reach out to more number of SMEs through their digital offerings as well as superior banking services.
  • 2018-09-07 : DBS Bank hikes Floating Home Loan and LAP rates
    DBS Bank has increased its floating Interest Rate on the home loan and Loan Against Property (LAP) by 25 basis point following the hike in its MCLR. The new rate for the Home loan now starts at 9.70% and for that of LAP at 12.15%, a hike of 25 basis points. The revised rates are effective from September 7, 2018. There is no change in the processing fees.
  • 2018-08-08 : DBS Bank revises MCLR rates
    DBS Bank has revised its MCLR for the month of August. The rates continue to be in the range of 8.60% to 8.90%. Six month MCLR is now at 8.85% and that of one year is 8.90%. The rates are effective from August 7, 2018.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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