DCB Home Loan EMI Calculator

Get upto Rs 5,000/- Cashback*
Terms & Conditions Apply*
Apply Online

Development Credit Bank Home Loan EMI Calculator

Last Updated 25th Oct 16

DCB Home Loan - Lowest EMI is Rs. 1,005 per lakh

  • Get monthly EMI as low as Rs. 1,005 per lakh with Development Credit Bank now offering home loans with loan tenure upto 20 years.
  • Lowest home loan interest rate currently offered by Development Credit Bank is 10.6%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,112 for a 15 year loan and Rs. 1005 for a 20 year loan. Check the EMI for other tenures using the Development Credit Bank home loan EMI calculator on this page.

Home Loan EMI Calculator Development Credit Bank

Development Credit Bank Home Loan EMI Calculator

DCB Home Loan EMI

  • Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Development Credit 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 Development Credit Bank offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 1,005 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by Development Credit Bank on Home Loan is 10.6%. You can check EMI for other tenures using our Development Credit Bank Home Loan EMI calculator.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 27,79025,12823,056
    5,000,000 55,58050,25546,111
    7,500,000 83,37075,38369,167
    10,000,000 111,161100,51192,222
  • 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.

DCB Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Development Credit Bank Home Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 1,500,000 to Rs. 100,000,000
r = Rate of interest per month. Current rate is 10.6%, which is linked to 1 Year MCLR, last revised on 25th Aug 16
n = tenure in month. For Development Credit Bank, this can be 360 months

Will the DCB 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 Development Credit 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, Development Credit 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 Development Credit 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?

  • Development Credit 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.
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.
DCB Home Loan EMI Calculator News - Oct 2016
15th Apr 16 DCB Bank Q4FY16 standalone net profit rises 10.47%
DCB Bank reported standalone net profit of Rs 69.53 crore for the quarter ended March 31, 2016, registering growth of 10.47%. Net Interest Income for the quarter stood at Rs 168.69 crore, clocking growth of 30.09%. GNPA for the quarter stood at 1.51% down 25 bps. For the year ended March 31, 2016, the bank reported net profit of Rs. 194.53 crore.
09th Mar 16 Thomas Cook India starts trade finance services
Travel company Thomas Cook India has teamed up with Western Union Business Solutions and Indian DCB Bank to help the country SMEs perform cross border trade payments. Thomas Cook will reach out to its SME client base and the larger SME market to refer their trade transactions to DCB Bank through the Western Union platform. The idea is to leverage Western Union payment technology and DCB Bank trade finance expertise to improve relationship management and automate payment confirmation, ultimately enhancing procurement for SMEs.