fbimg

DCB Home Loan Interest Rate

Last Updated 24th Sep 2019

DCB Bank Home Loan Rate Oct 2019

4th October 2019 – RBI cuts repo rate by 25 bps to 5.15%

DCB Bank's home loan interest rate starts from 10.24%, which is one of the best home loan rates in India. Check Best Offers

Loan AmountDevelopment Credit Bank Home Loan Floating RateRate for Female BorrowerRateRepo Rate
Upto ₹ 25 Lakh10.24%N/AN/A
₹ 25 Lakh - ₹ 75 Lakh10.24%N/AN/A
₹ 75 Lakh - ₹ 1 Cr10.24%N/AN/A
Above ₹ 1 Cr10.24%N/AN/A
Apply for Home Loan @ 8.10%* Get upto ₹ 5,000* Cashback
+91
₹
₹

Please Re-confirm Your Number

+91
Submit

Please Re-confirm Your

Update

DCB Bank Home Loan

DCB Bank offers housing loan to people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan.

    Compare Home Loan Rates of All Banks in India
    DCB Home Loan Details
    Interest Rate10.24% onwards
    Compare with Other Banks
    Processing Fee Upto 2.00%
    Minimum ₹ 5,000
    Max Tenure20 years
    Lowest EMI₹ 981 per lakh
    Prepayment ChargesAllowed with Nil charges for floating rate loans
    Check Prepayment Rules
    AgeMin 21 and Max 60 years for Salaried
    Min 21 and Max 65 years for Self Employed

    Home Loan Interest Rates DCB Bank

    DCB Bank home loan interest rates are in the range of 10.24% to 10.24%, with special discounted rates for specific category of borrowers such as ladies borrowers for whom the bank offers the lowest interest rate of 10.24%.

    ProductsInterest Rates
    Development Credit Bank Home Loan Floating10.24%

    Latest DCB home loan rate starts from 10.24% , as applicable based on the 1 Year MCLR, which is 10.65%, last announced on 05th Aug 19. Any change in MCLR will translate into a similar change in the bank’s home loan rate.

    DCB Bank housing loan interest depends upon
    • Loan amount: Housing loan rate in DCB Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the rate
    • Your Salary: Income helps you in identifying your rate of interest. Bank's rate varies with your monthly income. Higher the income, lesser will be the rate
    • Type of loan opted for: DCB Bank also offers differential rates for women borrowers and also under their fixed and floating rate schemes. The rate of interest may be higher or lower under their special or popular loan product offers.
    • Existing bank customers: DCB Bank offers one of the lowest home loan rates to its existing bank account customers in view of their past relationship with the bank.

    DCB Bank Home Loan Processing Fee and Other Charges

    In addition to interest rates, home loan from DCB Bank also carry some other charges which include:

    • Processing Fee - DCB Bank applies 2.00% processing charges to account for its expenses incurred for conducting a credit appraisal and completing the lending process.
    • Technical and Legal Charges - DCB Bank also charges technical and legal charges which are explained to the customer during the loan process. Once you go through the loan application process, you will need to pay these charges based on DCB Bank rules.
    • Prepayment Charges: If you decide to foreclose or transfer your housing loan to another bank, you need to submit an application for the same to DCB Bank. As per RBI rules, banks are not allowed to charge prepayment penalty on floating rate home loans. Hence, you can prepay your home loan with DCB Bank at Nil charges.

    DCB Housing Loan: Apply

    If you want to get a housing loan from DCB Bank, the process to get the loan is fairly easy. All you need to do is to apply for a home loan at MyLoanCare. We are a channel partner of all top banks in India including HDFC, SBI, Axis Bank, Citibank. Your loan application will be processed online and DCB Bank’s representatives will get in touch to begin the process of getting a home loan. You will also be assisted by MyLoanCare’s personal housing loan advisor to ensure that all the lending process is smooth, quick and you get the best house loan from DCB Bank.

    You can also do a comparison of DCB Bank’s Home Loan Interest rates and other charges using MyLoanCare comparison tool. Once you apply online, you can check the real time status of your home loan application in your customer account section of MyLoanCare.

    DCB Home Loan Documents

    For Salaried employees
    • Filled up loan application form
    • 2 Passport Size Photo
    • ITR of last 2 years
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit
    • Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension
    For Self-Employed
    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile
    • Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension
    Illustration on Home Loan DCB Bank
    Maximum Annual Percentage Rate (APR)10.24% to 10.24%
    Representative example of the total cost of the loan, including all applicable fees
    Here is an illustration of the total cost of the loan:
    • Total amount borrowed: Rs. 1 Lakh
    • Time period: 5 years to 20 years
    • DCB Bank Home Loan Interest Rate: 10.24% to 10.24%
    • Processing Fee payable to DCB Bank: Upto Rs. 10,000. Current offer for processing fee is Upto 2.00%
      Minimum Rs. 5,000
    • Fee payable to MyLoanCare: NIL
    • Total Monthly Cost – From Rs. 981 for a 20 years Rs. 1 Lakh loan at 10.24% (lowest rate, longest time period) to Rs. 2,137 for a 5 years Rs. 1 Lakh loan at 10.24% (highest rate, shortest time period). This is inclusive of principal repayment.
    • Annual Percentage Rate (APR) of charge including all applicable fees: 10.24% to 10.24%
    • Total cost payable over loan tenure: Rs. 38,192 for 5 years loan to Rs. 1.45 Lakh for 20 years loan

    DCB Bank’s terms and conditions as per loan agreement applicable. Short term loans/ pay day loans not available; minimum loan tenure: 5 years. Rate of interest depends upon income, job stability, loan amount, CIBIL score, credit profile, existing obligations, verification and other factors. Credit at sole discretion of DCB Bank.

    Frequently Asked Questions

    What is DCB Bank home loan procedure?

    You can apply for a DCB Bank home loan by contacting the bank directly or by applying through online marketplaces like myloancare.in. Availing a loan through an online market place improves the chances of getting best loan rates, low processing fees and special offers in the form of cash backs. Once you approach the bank, they will collect your documents and initiate the loan process which includes checking your CIBIL score, property valuation, technical and legal checks on property, eligibility calculation. The bank will give a decision on your loan based on the evaluation results. You can also check your DCB Bank home loan status by logging in your customer account with MyLoanCare.

    Why should I opt for balance transfer to DCB Bank?

    DCB Bank offers competitive home loan rates with best EMI of ₹ 981 per lakh availed at low interest rate of 10.24% for a maximum tenure of 20 years. If you are paying an EMI more than ₹ 981 per lakh, you should consider option for a loan transfer to DCB Bank from your existing bank.

    What is the maximum loan tenure I can opt under DCB Bank house loan?

    DCB Bank offers you a longer tenure of 20 years to repay your loan with a benefit of paying less EMI per month.

    Do I get tax benefit on home loan from DCB Bank?

    As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.

    Can I foreclose my home loan? What are the charges applicable?

    Yes, you can foreclose your loan with Nil charges.

    Can I transfer my house loan from another bank to DCB Bank?

    Yes, Bank gives you the facility to transfer your existing loan with a hassle free process. Availing loan transfer to DCB Bank can allow you to save interest, pay lower EMIs and save money.

    Can I club the income of my spouse with mine and apply for joint home loan?

    You can club the income of your spouse to increase your home loan eligibility if the spouse is co-owner of the property or guarantor of the loan.

    What is the benchmark applicable for housing loan?

    The benchmark applicable for home loan in DCB Bank is 1 Year MCLR .

    What is the effect of part prepayments on DCB Bank housing loan EMI ?

    Part prepayments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same Home Loan EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.

    How to increase my eligibility on DCB Bank housing loan?

    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.

    How will interest rate on DCB Bank housing loan change in future?
    • Floating rate on DCB Bank housing loan is linked to its 1 Year MCLR Rate, which is currently at 10.65%. When Bank offers a home loan at 10.24%, it applies a premium of -0.41% to its MCLR Rate to arrive at this home loan rate.
    • When RBI increases rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.
    COMPARE Home Loan DETAILS OF BANKS
    Related Topics
    Latest Blogs
    ×
    DCB Home Loan News - Oct 2019
    • 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.
    • 2019-02-28 : DCB Bank launches open banking for gen-next banking solutions
      DCB Bank has announced the launch of its open banking platform. For this, the lender will collaborate with nearly 20 start-ups and fin-techs in order to provide better service to its customers. The newly launched platform aims to provide seamless and innovative banking services to meet the growing demand of the customers. The lender also has plans to achieve a significant growth across its retail loans portfolio including personal loans and business loans.
    • 2018-07-24 : DCB slashes Home Loan rates by upto 25 bps
      Development Credit Bank (DCB) has slashed its home loan rates. The new floating rates of Home Loan have gone from 10.44% to 10.19%, a drop of 25bps across all salaried and self employed categories. The new rates are currently effective.
    • 2018-01-20 : DCB Bank net profit rises 11% in Q3
      DCB Bank reported an 11 per cent increase in third quarter net profit at ₹57 crore, as compared to ₹51 crore in the year-ago period. In the third quarter, net interest income was up 20% year-on-year to ₹250 crore.
    *Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
    Get Free Credit Report ☺