Dena Home Loan EMI Calculator

Dena Home Loan - Lowest EMI is Rs. 860 per lakh

Last Updated 08th Dec 2016
  • Get monthly EMI as low as Rs. 860 per lakh with Dena Bank now offering home loans with loan tenure upto 25 years.
  • Lowest home loan interest rate currently offered by Dena Bank is 9.30%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,032 for a 15 year loan and Rs. 919 for a 20 year loan. Check the EMI for other tenures using the Dena Bank home loan EMI calculator on this page.

Home Loan EMI Calculator Dena Bank

Dena Bank Home Loan EMI Calculator
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Dena Home Loan EMI

  • Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Dena Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With Dena Bank offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 860 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by Dena Bank on Home Loan is 9.30%.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 25,80522,97820,658
    5,000,000 51,61045,95541,315
    7,500,000 77,41468,93361,973
    10,000,000 103,21991,91182,630
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

Dena Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Dena Bank Home Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 1,500,000 to Rs. 20,000,000
r = Rate of interest per month. Current rate is 9.30%, which is linked to Dena 1 Year MCLR, which is currently 9.30%. Last revised on 01st Dec 16
n = tenure in month. For Dena Bank, this can be 360 months

Will the Dena home loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

  • Typically, the home loan EMI remains unchanged unless the customer requests for a change and the same is approved by Dena Bank subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI)
  • In case the floating rate of interest on your home loan increases, Dena Bank will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by Dena Bank, the bank may increase your EMI amount.
  • For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement.

Will home loan EMI change in case of prepayment?

  • Dena Bank allows prepayment at nil charges or penalty in case of floating rate home loans.
  • When you make a prepayment, the outstanding principal amount on your home loan reduces. In this case, you may choose to either keep the EMI the same and reduce the loan tenure (that is pay off the loan faster) or reduce the EMI and keep the loan tenure the same (that is pay lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.
Dena Home Loan EMI Calculator News - Dec 2016
01st Sep 16 Dena Bank has reduced its MCLR from 1st September, 2016
Dena Bank has reduced its Marginal Cost Based Lending Rate (MCLR) by 5 basis point (bps) across maturities. The 1 year MCLR has been reduced to 9.45 percent from the current rate of 9.5 percent. The 3 month and 6 month MCLR has been reduced to 9.25 percent and 9.35 percent respectively. Similarly the Overnight MCLR has been reduced to 9.05 percent. These changes are effective from 1st September, 2016. . For borrowers who have taken a home loan from Dena Bank after 1st April 2016, the reduction in MCLR will translate into a reduction in their home loan rates and hence their interest outgo. However, if you have taken home loan at fixed interest rate then your interest expense will remain unchanged.
01st Aug 16 Dena Bank has reduced its MCLR from 1st August, 2016
Dena Bank has reduced its Marginal Cost Based Lending Rate (MCLR) across maturities, effective from 1st August 2016. The 1 year MCLR has been reduced by 5 basis points from 9.55 percent to 9.5 percent. The 3 month and 6 month MCLR has been reduced by 10 basis points to 9.3 and 9.4 percent respectively. Similarly the overnight and 1 month MCLR has been reduced by 15 basis points to 9.1 and 9.2 percent respectively. If you are a borrower of the Dena Bank and have taken loan after 1st April 2016, the reduction in loan rates should result in a lower interest burden and lower EMIs. However, if you have taken loan at fixed interest rate then you will not able to benefit by the rate cut.
13th Jun 16 Dena Bank reports Net Loss of Rs326.38 crore for Q4FY16
As per the result for Q4FY16, Dena Bank has reported Net Loss of of Rs.326.38 crore as the bank had to provide for higher provisions against bad loans. The loss was on account of a tax write-back of Rs.340.86 crore in the March quarter. The bank reported increase in Net Interest Income (NII) by 2.7 percent to Rs.625.17 crore, when compared on yoy basis. Non Interest Income of the bank also increased by 7.21 percent to Rs.215.87 crore. The Asset Quality showed signs of deterioration during the current quarter as Gross NPA in March quarter increased to 9.98 percent from 5.45 percent in year ago period. Net NPAs increased to 6.35 percent against 3.82 percent in previous quarter. Provision for NPA increased to 200 percent in March quarter to 1094.24 crore when compared on yoy basis.
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