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Dhan Laxmi Home Loan Interest Rates 2021

Dhan Laxmi Bank Housing Loan Interest Rate -Today

Last Updated 25th Jun 2021

Current Dhan Laxmi Bank Home Loan interest rates Jul 2021 starts at 7.85% p.a. for a maximum tenure of 20 years. The processing fee on its housing loans is Upto 1.00%, Minimum ₹ 10,000 .

Loan AmountDhan Laxmi Bank Repo Rate Home Loan Rate
Upto ₹ 25 Lakh7.85%
₹ 25 Lakh - ₹ 75 Lakh7.85%
₹ 75 Lakh - ₹ 1 Cr7.85%
Above ₹ 1 Cr7.85%
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback

Current Dhan Laxmi Bank Home Loan Rate

Today Dhan Laxmi Bank home loan interest rates are in the range of 7.85% to 8.50%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 7.85%.

Below-mentioned are Dhan Laxmi Bank home loan rates for multiple housing schemes.

Dhan Laxmi Bank Home Loan Scheme Interest Rates
Dhan Laxmi Bank Repo Rate Home Loan7.85% - 8.50%

Dhan Laxmi Home Loan Interest Rates for Salaried and Self Employed

The home loan interest rates in Dhan Laxmi for salaried & non-salaried employee is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 25 Lakh 7.85%
₹ 25 Lakh - ₹ 75 Lakh 7.85%
₹ 75 Lakh - 1 Cr 7.85%
Above ₹ 1 Cr 7.85%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 25 Lakh 7.85%
₹ 25 Lakh - ₹ 75 Lakh 7.85%
₹ 75 Lakh - 1 Cr 7.85%
Above ₹ 1 Cr 7.85%

Dhan Laxmi Bank Home Loan Processing Fee and Other Charges

Dhan Laxmi Bank home loan processing charges are upto 1.00% of the loan amount from its home loan customers to cover its expenses of conducting credit appraisal and technical evaluation of property. Dhan Laxmi Bank charges a minimum processing of ₹ 10,000 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to 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.

Processing Fees Upto 1.00% of the loan amount; minimum processing fee of ₹ 10,000
Foreclosure Charges Nil for floating rate home loans

Dhan Laxmi Home Loan Balance Transfer Interest Rates

Dhan Laxmi Bank home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to Dhan Laxmi Bank at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, Dhan Laxmi Bank offers the lowest home loan balance transfer rate of 7.85%.

Illustration on Home Loan Interest Rate Dhan Laxmi Bank
Maximum Annual Percentage Rate (APR) 7.9% to 8.55%
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: ₹ 1,00,000
  • Time period: 5 Years to 20 Years
  • Dhan Laxmi Bank Home Loan Interest Rate: 7.85% to 8.50%
  • Processing Fee payable to: Upto ₹ 1,000
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 827 for 20 Years ₹ 1,00,000 loan at 7.85% (lowest rate, longest time period) to ₹ 2,052 for 5 Years ₹ 1,00,000 loan at 8.50% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 7.9% to 8.55%
  • Total cost payable over loan tenure: ₹ 1,22,228 for 5 Years loan to ₹ 1,99,511 for 20 Years loan

FAQs

What is Dhan Laxmi Home Loan Interest Rate?

Dhan Laxmi Home Loan interest rate ranges between 7.85% to 8.50%. The salaried borrowers with high credit score and income are eligible to get lower interest rates.

Has Dhan Laxmi reduced home loan rates?

As per the current rates, Dhan Laxmi has hiked its home loan rates by 0.45% from 7.40% to 7.85%. The new rates are effective from 01 Apr, 2021.

Why should I opt for balance transfer to Dhan Laxmi Bank?

Dhan Laxmi Bank offers lowest Home Loan EMI of ₹ 827 per lakh availed at the lowest interest rate 7.85% for a maximum tenure of 20 years. you are paying an EMI more than ₹ 827 per lakh, you should consider the option for a loan transfer to Dhan Laxmi Bank from your existing bank.

  • Dhan Laxmi Bank offers RBI Repo Rate linked Home Loan which starts at 7.85%. Current Repo Rate of RBI is 4.00%. The Bank adds a mark up on RBI’s repo rate which is called Dhan Laxmi Bank Repo Rate Linked Lending Rate (RLLR). RLLR can change with change in Repo Rate. An additional spread is applied on RLLR which remains the same throughout the tenure. Bank applies a premium of 3.85% to the Repo Rate to arrive at this rate.
  • When RBI increases rates, the bank may increase its Repo Rate linked Home Loan rates by the same basis points for all existing and new Home Loans. When RBI cuts interest rates, the Dhan Laxmi Home Loan interest rates will reduce the interest rates by the same basis points, which will be effective from the 1st day of the following month.
  • For instance, if RBI slashes Repo Rate by 0.15%, then Dhan Laxmi Bank Repo Rate linked Home Loan rate will cut from 7.85% to 7.7%.

What is the current Dhan Laxmi Bank Home Loan rate?

The current Dhan Laxmi Home Loan rate starts from 7.85% with a processing fee of Upto 1.00%, Minimum ₹ 10,000.Dhan Laxmi housing loan rate varies across the applicant’s eligibility and the scheme they opt for. Dhan Laxmi offers different home loan rates for different home loan products.

Can Dhan Laxmi Bank housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with Dhan Laxmi to lower the home loan rates.

What are the interest rates of home improvement loans in Dhan Laxmi?

You can avail of Dhan Laxmi home loans for home improvement at regular home loan rates starting at 6.65%.

Can Dhan Laxmi revise the home loan interest rates for their existing customers?

Dhan Laxmi home loan rates change for the existing customers if they have availed home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does Dhan Laxmi offer a concessional home loan interest rate for women?

Yes, Dhan Laxmi offers special home loan interest rates for women. As against Dhan Laxmi home loan rates for male which is 7.85%, the home loan interest rate for women starts at %.

What is the Dhan Laxmi home loan rate of ₹ 25 Lakh for 15 years?

Dhan Laxmi home loan varies as per the loan amount. For home loan upto ₹ 25 Lakh, Dhan Laxmi provides home loan interest rate starting at 6.65%.

At what interest rate does an Dhan Laxmi employee get a home loan?

Dhan Laxmi offers concessional home loan rates of about 1% than the current home loan rates to Dhan Laxmi employees.

Is Dhan Laxmi Bank home loan a floating rate loan or fixed-rate loan?

Dhan Laxmi home loan is offered at both fixed and floating rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the home loan rates keep varying according to the market.


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Dhan Laxmi Home Loan News - Jul 2021
  • 2021-06-01 : Dhanlaxmi Bank posts ₹5.28 crore net profit in Q4
    Dhanlaxmi Bank reported a net profit of Rs 5.28 crore in the fourth quarter of FY2020-21, boosted by retail loans home, LAP, personal, two-wheeler, car education and doctor loan along with business and mudra loan. The bank had posted a net profit of Rs 2.60 crore in the year-ago same quarter.
  • 2020-08-03 : Dhanlaxmi Bank Ltd Q1FY21 net profit at Rs. 6.09 crore
    Dhan Laxmi posted a net profit of Rs.6.09 crores for the period ended June 30, 2020, as against a net profit of Rs.2.60 crores for the period ended March 31, 2020. In addition to this, The bank reported a total income bolstered by retail loans home, personal, car, two-wheeler and gold loans along with business and mudra loans of Rs.278.62 crores during the period ended June 30, 2020. Bank provisioning for bad loans and contingencies spiked to Rs 37.02 crore during the reported quarter of FY21 as against Rs 9.27 crore a year ago.
  • 2020-01-08 : Dhanlaxmi Bank revised interest rates on retail loans
    Dhanlaxmi Bank revised its home loan interest rate by 25 bps, which begins from 9.55%. It also changed the interest rate on personal loans, which lies between 12.90% to 16.10%. The rates are revised to lure home loan and personal loan buyers.
  • 2019-06-04 : Dhanlaxmi Bank revises MCLR rates across loan tenure
    Dhanlaxmi Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenure for June. The move is supposed to make retail loans like housing loans and mortgage loans cheaper. Now for overnight and one month, the rate stands at 8.60%. For 3 months, the rate has been revised to 8.90%. While for 1 year the rate now stands at 9.90%. The revised rates are effective from June 1, 2019.
  • 2019-05-09 : Dhanlaxmi Bank reports a profit of Rs. 27.6 crores in Q4 of FY19
    Private sector lender, Dhanlaxmi Bank has reported strong growth of Rs. 27.6 crores in its net profit for the Q4 of FY19. The profit is boosted by strong growth across its retail loans segment including home loans and mortgage loans and SME loans.
*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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