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DCB Home Loan Eligibility Calculator

Home Loan Eligibility Calculator DCB Bank 2021

Last Updated 02nd Nov 2021

Eligibility CriteriaDCB Bank Home Loan
Eligible Age of Borrower21 - 60 years
Home Loan Eligibility Calculator

What is DCB Home Loan Eligibility?

DCB offers various home loan schemes and offers at affordable rates to eligible customers whether salaried or self-employed. DCB 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 DCB home loan using the DCB 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 DCB?

DCB 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.

DCB 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 DCB Bank home loan age limit to get a DCB Bank home loan is 21 years at the time of loan commencement and maximum age limit is 60 years. DCB 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.

DCB Home Loan Eligibility Based on Salary

  • Net income: Your net monthly income determines how much DCB 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 DCB Bank, the loan amount that you will be eligible for would be ₹ 26,49,760 to ₹ 38,14,260 depending on your age. Similarly, if your salary is ₹ 75,000, you might get eligible for a loan amount of ₹ 52,99,520 to ₹ 76,28,520 for the same property at the same rate depending on your age at the time of loan application. However, DCB 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 years38.14 Lakh57.21 Lakh76.29 Lakh
30 years38.14 Lakh57.21 Lakh76.29 Lakh
35 years38.14 Lakh57.21 Lakh76.29 Lakh
40 years38.14 Lakh57.21 Lakh76.29 Lakh
45 years33.50 Lakh50.25 Lakh67 Lakh
50 years26.50 Lakh39.75 Lakh53 Lakh

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

  • Nature of employment: DCB 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. DCB Bank requires minimum income history and job stability of more than 0 years for salaried individuals and of 0 years for self-employed individuals.

Home Loan Eligibility DCB Bank based on Value of Property

  • Value of property: DCB 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 DCB Bank's legal team.

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

DCB Housing Loan Eligibility Calculator based on FOIR

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

DCB Bank Home Loan Eligibility for Women

DCB 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 DCB Home Loan

DCB 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 DCB. However, a low CIBIL score reduces your chances to get a home loan. DCB requires a minimum credit score of 650 to be eligible for a home loan.

How to Enhance DCB Home Loan Eligibility?

You can enhance the DCB 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 DCB’s Home Loan Eligibility Calculator?

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

  • Go to the DCB Bank website
  • Now navigate to the option DCB 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 DCB Bank home loan?

The basic criteria to get a home loan from DCB 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 DCB 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 DCB Bank?

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

Is DCB Bank good for home loan?

The lowest interest rate provided by DCB Bank is 8.25% 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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DCB Home Loan News - Nov 2021
  • 2021-09-14 : DCB Bank Revises MCLR Rate
    DCB Bank has revised the Marginal Cost of Funds Lending Rate (MCLR) for different tenures. Now, the one-year and six-month MCLR are 9.02%. Three-months MCLR is at 8.77%, one month and overnight MCLR is 8.07%.
  • 2021-01-27 : DCB Bank reported Q3 profit at ₹96.21 crore
    DCB Bank posted a net profit of ₹96.21 crore for the third quarter ended December 2020. Further, it reported a total income of ₹1,023.86 crore backed by home, personal, car, two wheeler and gold loan along with business and mudra loans.
  • 2020-08-07 : DCB Bank Ltd posted Rs. 79.38 crore PAT in Q1FY21
    DCB Bank posted a net profit of Rs.79.38 crores for the period ended June 30, 2020, as against a net profit of Rs.68.76 crores for the period ended March 31, 2020. In addition to this, the Bank reported a total income of Rs.950.70 crores backed by retail loans like home, personal, gold, two-wheeler, and car loans along with business and mudra loans during the period ended June 30, 2020.
  • 2020-01-28 : DCB Bank Q3 profit increased by 12.3%
    Private sector lender DCB Bank profit for Q3 hiked by 12.3% to Rs. 96.70 crores. The Bank total income rose by 13.66% to Rs. 990 crores boosted by Home Loans and Personal Loans. Further, Net Interest Income increased by 9.86% to Rs. 323 crores.
  • 2019-05-08 : DCB Bank expects to double balance sheet in the next four years
    Private sector lender, DCB Bank expects to double the size of its balance sheet in the next three-four years. The banks would be focusing more on growing its SME, agri, retail, commercial vehicles and small-ticket loans in which their current growth is nearly 16%. As of now, their balance sheet stands at Rs. 35,792 crores.
*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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