DCB Home Loan Interest Rates 2021
DCB Bank Housing Loan Interest Rate
Current DCB Bank Home loan interest rates for Apr 2021 starts at 10.24% p.a. for a maximum tenure of 20 years. Processing fee on its housing loans is Upto 2.00%, Minimum ₹ 5,000 .
Loan Amount | Development Credit Bank Home Loan Floating Rate | Rate for Female Borrower | Rate | Repo Rate |
---|---|---|---|---|
Upto ₹ 25 Lakh | 10.24% | N/A | N/A | |
₹ 25 Lakh - ₹ 75 Lakh | 10.24% | N/A | N/A | |
₹ 75 Lakh - ₹ 1 Cr | 10.24% | N/A | N/A | |
Above ₹ 1 Cr | 10.24% | N/A | N/A |
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DCB Bank Home Loan Interest Rates
DCB Bank offers various products on home loan. DCB Bank home loan can be used for the purchase of a flat, home construction loan, extension or improvement loan.
Features
- DCB Bank Home Loan Interest Rate starts from 10.24%.
- DCB Bank charges a processing fees of Upto 2.00%, Minimum ₹ 5,000 and .
- Loan Tenure of Home Loan ranges from 5 years to 20 years.
- Lowest EMI per lakh on home Loan from DCB Bank is ₹ 981 per lakh offered at the lowest interest rate of 10.24% at the longest loan tenure of 20 years.
- DCB Bank allows prepayment of home loans with Nil charges on floating rate loans.
- DCB Bank has an average customer rating of 5/5.0 from customers who have taken a home loan from the bank.
DCB Bank Home Loan Rate
Current DCB Bank home loan interest rates are in the range of 10.24% to 10.24%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 10.24%. The table below gives the interest rates on various housing finance schemes of DCB Bank.
DCB Bank Home Loan Scheme | Interest Rates |
---|---|
Development Credit Bank Home Loan Floating | 10.24% |
Factors affecting DCB Home loan interest rates DCB interest rate is dependent upon a variety of factors. The Important ones are mentioned below:
- Repo Rate: Repo rate is a monetary tool used by RBI to control inflation. Currently, the repo rate stands at 9.43% Any change in repo rate will change the RLLR and will translate into a similar change in the bank’s home finance rate.
- Loan amount: DCB Bank home loan rate depends upon the loan amount you apply for.
- Occupation: DCB Bank offers lower rate for salaried borrowers as compared to self employed borrowers.
- Salary: Income helps in identifying the amount of loan that you can be eligible for. Bank's rate varies with your monthly income. Higher the income, lesser will be the rate as higher will be the loan amount.
- Gender: DCB Bank also offers discounted or special rates for women borrowers to ensure that women own a house and become financially independent. If you are planning to take a loan, adding a women co-applicant can help you get the lowest rates from DCB Bank.
- Type of loan: DCB Bank runs several special schemes for its borrowers. So for example if you opt for an overdraft scheme or a plot loan, you may required to pay a higher rate of interest vis-à-vis its regular home loan scheme.
- Existing customers: DCB Bank offers lower home loan rates to its existing bank account customers as compared to new bank customers, as it understands the past banking history of the customer and hence, is comfortable in sanctioning loans.
Compare Details of Banks (Function)
DCB Bank offers multiple home loan schemes at affordable interest rates. However, you must analyze multiple banks and their offers before applying for a home loan.
Particulars | DCB Bank | SBI | HDFC |
Interest Rate | 10.24% - 10.24% | 6.95% - 7.25% | 6.70% - 7.40% |
Processing Fees | Upto 2.00% Min ₹ 5,000 |
Min ₹ 10,000 | Min ₹ 3,000 |
Loan Tenure | 20 Years | 30 Years | 30 Years |
Maximum Loan Amount | ₹ 10 Cr | ₹ 7 Cr | ₹ 5 Cr |
Age | 21 - 65 Years | 18 - 70 Years | 24 - 65 Years |
Benchmark Rate | 1_year MCLR | RLLR | PLR |
Lowest EMI Per Lakh | ₹ 981 per lakh | ₹ 662 per lakh | ₹ 645 per lakh |
DCB Bank Home Loan Charges
DCB Bank Home Loan Processing Fee
The bank charges a minimum processing of ₹ 3,000. The processing fees is typically non-refundable and has to be paid at the time of loan application. In addition to DCB Bank housing loan processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.
DCB Home Loan Documents
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
Documents 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
DCB Bank Pradhan Mantri Awas Yojana
The government of India has launched many affordable housing loan schemes to facilitate availing home loan at concessional rates to lower and middle-income groups. Some of the popular schemes are:
a) PMAY or Home Loan Subsidy Scheme: Launched in 2015 to provide houses to the homeless. You can apply for PMAY at DCB Bank if you fulfil the eligibility criteria. Know more about PMAY Scheme
b) Pradhan Mantri Gramin Awas Yojana: It focuses on homeless families and offers pucca houses with basic amenities.
c) DDA Housing Scheme: It aims to provide houses to low, middle, and high-income groups.
d) Tamil Nadu Housing Board Scheme: It started in 1961 to provide houses to varied income groups.
e) Mhada Lottery Scheme: It's a lottery scheme launched every year for buyers of varied income groups.
f) Rajiv Awas Yojana: Launched in 2009 with the aim of bringing illegal construction under the formal system and encouraging slum-free India.
Each of these schemes has its conditions with respect to eligibility, the amount of loan that can be borrowed, and the rate of interest.
Maximum Annual Percentage Rate (APR) | 10.34% to 10.34% |
Representative example of the total cost of the loan, including all applicable fees | Here is an illustration of the total cost of the loan:
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FAQs
✅What is DCB Home Loan interest rate?
DCB Home Loan interest rate ranges between 10.24% to 10.24%.
✅Why should I opt for balance transfer to DCB Bank?
DCB Bank offers competitive Home Loan rates with the best EMI of ₹ 981 per lakh availed at a 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 the option for a loan transfer to DCB Bank from your existing bank. EMIs can be calculated through DCB Bank Home Loan EMI calculators.
✅Do I get tax benefits on a Home Loan from DCB Bank?
As per the Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on the principal amount and interest components of a house finance under section 24 and section 80C of Income Tax Act.
✅What is the effect of part prepayments on DCB Bank housing finance 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 a loan.
- Floating rate on DCB Bank housing loan is linked to its 1 Year MCLR Rate, which is currently at 9.43%. When Bank offers a Home Loan at %, it applies a premium of -9.43% 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.
✅What is the current DCB Bank Home Loan rate?
The current DCB Home Loan rate starts from 10.24% with a processing fee of Upto 2.00%, Minimum ₹ 5,000 and
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Overview | SBIx | HDFCx | Citibankx |
---|---|---|---|
Lowest Interest Rate | 6.95% - Details | 6.70% - PLRDetails | 6.65% - TBLRDetails |
Maximum Loan Tenure | 30 Years | 30 Years | 25 Years |
Maximum Loan Amount | Rs. 7 Cr | Rs. 5 Cr | Rs. 5 Cr |
Home Loan Charges | |||
Processing Fee | Min Rs. 10,000, Max Rs. 10,000 | Min Rs. 3,000, Max Rs. 10,000 | |
Foreclosure Charges | Nil | Nil | Nil |
- 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. - 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.

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