DHFL Home Loan Interest Rate Calculator - Oct 2016

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DHFL Home Loan Interest Rates

Last Updated 25th Oct 16
DHFL Home Loan Interest Rate 9.55%
Check Special Offers
Lowest EMI Rs. 845 per lakh
Max Tenure 30 years
Processing Fee Upto 0.50%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply DHFL Home Loan Online
 Salaried   Self Employed - Professional   Self Employed - Business 

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DHFL Home Loan

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

Home Loan DHFL

DHFL home loan interest rate is the rate which you pay over the loan amount that you have borrowed from the bank. Home loan interest rates offered by DHFL depends upon PLR.
  • Floating rates changes with a single change in PLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.
DHFL offers home loan based on PLR rates which is currently 18.30%.
DHFL home loan interest rate depends upon
  • DHFL home loan amount: Home loan rate in DHFL depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: DHFL has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. DHFL interest rate varies with your monthly income. Higher the income, less will the rate of interest

DHFL Home Loan Charges

  • DHFL Home Loan foreclosure charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. DHFL allows prepayment of home loan with Nil prepayment charges
  • Processing Fee - DHFL asks for a processing fee of 0.50% of loan amount with applicable service tax

DHFL Home Loan EMI Calculator

    Home Loan EMI of DHFL is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure
  • DHFL home loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating DHFL Home Loan EMI?
  • EMI calculator of DHFL Home Loan helps you to calculate your monthly EMI at different rate of interest
  • DHFL Home Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

DHFL Home Loan Eligibility Calculator

Home Loan eligibility criteria DHFL
Eligibility of House loan in DHFL relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Age plays an important role to know your eligibility and repayment capacity. DHFL offers Home loan to salaried at the age of 21 to 60 years and self employed individuals at 21 to 65 years
  • Income: In case of salaried person, DHFL Home Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your eligibility for Home loan from DHFL. In case you are salaried, you must be in a full time job for at least 2 months. In case you are self-employed, you must be in current profession or business for at least 5 years and should preferably own either your office or your place of residence. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your DHFL eligibility. If you are working with a reputed company, probability of getting home loan from DHFL increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: DHFL gives you Home loan depending upon your income. DHFL gives you an amount ranging from Rs. 1,500,000 to Rs. 50,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Estimated eligibility online by using DHFL Home Loan Eligibility Calculator.
    Popular DHFL Home Loan Products
    DHFL offers you different type of loans.

    Home Construction Loan

    • This type of loan is taken when you have a land in your mind for your dream home. You can apply for this loan and get loan for the land as well as for the construction of the home over that land
    • The land should be non agricultural and situated within municipal or Local Authority Limits
    • Processing fee charged is 1% for salaried and 1.5% for self employed

    Home Improvement Loan

    • This type of loan is taken when you want to renovate or paint your home because our home needs upgradation from time to time. The loan tenure for home improvement loan ranges from 1 to 20 years
    • Under this scheme, processing fee charged is 1.5% of the loan amount for self employed and Rs. 5000 to Rs. 20000 for salaried

    Plot Loan/Land Loan

    • You can apply for plot or land loan if you want to purchase a land for the construction of your dream home
    • You can get loan up to 75% of the market value. You can enhance your loan amount by adding an earning co-applicant

    DHFL Floating Rate Home Loans

    DHFL Home Loan Floating
    Upto Rs. 3,000,000 - 9.55%
    Rs. 3,000,001 - 15,000,000 - 9.75%
    Rs. 15,000,001 - 30,000,000 - 10%
    Above Rs. 30,000,000 - 10% linked to PLR
    DHFL Plot Loan
    Upto Rs. 3,000,000 - 9.55%
    Rs. 3,000,001 - 15,000,000 - 9.75%
    Rs. 15,000,001 - 30,000,000 - 10%
    Above Rs. 30,000,000 - 10% linked to PLR

    DHFL Home Loan Top up, Transfer

    Transfer of Home Loan from another bank to DHFL?
    DHFL offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of DHFL
    You can avail additional top-up home loan from DHFL, subject to your eligibility

    Housing Loan DHFL documents required

    Home Loan for Salaried employee DHFL documents required

    • 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

    Home Loan for Self-Employed DHFL documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • ITR of last 2 years
    • 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

    Frequently Asked Questions – DHFL Home Loan

    Why to take home loan from DHFL?
    DHFL offers home loan at lower rate of interest i.e. at % with the lowest EMI of Rs. 845 per lakh which is lesser than other banks. If you are paying EMI more than this then you can opt for balance transfer and relocate your home loan to DHFL.
    What is the maximum loan tenure I can opt under DHFL home loan?
    DHFL offers you a longer tenure of 30 years to repay your home loan with a benefit of paying less EMI per month.
    Do I get tax benefit on home loan from DHFL?
    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 foreclosure my home loan? What are the charges applicable?
    Yes, you can foreclose your home loan with Nil.
    Can I transfer my home loan from another bank to DHFL?
    Yes, DHFL gives you the facility to transfer your existing home loan with a hassle free process. Home loan balance transfer to DHFL offers you to 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 loan eligibility if the spouse is co-owner of the property or guarantor of the loan.
    What is the benchmark applicable for home loan in DHFL?
    The benchmark applicable for home loan in DHFL is PLR.
    What is the effect of part payments on DHFL housing loan EMI ?
    Part payments 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 EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.
    How to increase my eligibility on DHFL 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 DHFL housing loan change in future?
    • Floating interest rate on DHFL home loan is linked to its PLR Rate, which is currently at 18.30%. So, when DHFL offers a home loan at 18.30%, it applies a -8.75 premium to its PLR Rate to arrive at this home loan interest rate.
    • When RBI increases interest rates, the bank may increase its PLR 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 PLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.
    Am I eligible for top up on my existing home loan?
    DHFL allows you to top up your existing home loan at any time during your loan tenure.
    How can I repay my EMI on home loan?
    There are 2 options to pay back your EMI on home loan:
    • Through ECS (Electronically Clearing System) mode which is directly linked to your account
    • Post Dated Cheques (PDCs) drawn on your savings or salary account
    *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.
DHFL Home Loan Interest Rate News - Oct 2016
07th Oct 16 DHFL Cuts Home Loan Rates by 0.2 per cent
Dewan Housing Finance Corporation Ltd (DHFL) has reduced home loan lending rate by 0.2 per cent to 9.35 per cent for a loan up to Rs. 30 Lakhs under the festival offer. The revised rate would be effective for its new customers from October 11. This offer is categorized under affordable housing that would enable home ownership to the low and middle income group.
11th Sep 16 DHFL launches its new ad campaign Home Loan Dilse
DHFL has launched a new ad campaign Home Loan Dilse which is an extension of its earlier Ghar Jaisa Loan Campaign. This is the third ad campaign of DHFL to increase awareness and reverse the problem among the low and mid income segment in India. The Home Loan Dilse campaign deals with a very important question i.e. what is the right time to buy a home or avail home loan? The campaign talks about relatable instances from various stages in peoples lives and states that the right time to buy a house is when you dream of a home. The campaign messaging is appealing and connects with the real life common man problems and strengthening the borrowers trust and confidence in DHFL.
21st Jul 16 DHFL Q1 Net Profit increased by 16.23%
As per results of quarter ended June 2016, Dewan Housing Finance Limited Net Profit increased by 16.23% year on year to Rs. 173.3 Crore due to increase in demand for housing loan in semi urban areas. The Net Interest Margin reported is 2.91% . Whereas the Gross NPA stood at 0.98 % to Rs. 623.8 Crore . The company aims to focus on the demand from mid and lower income group from tier- 1 and tier 2 cities
20th Jul 16 DHFL to raise Rs. 6,500 crore via Debt
As stated in the regulatory filing of DHFL , The Board of Directors has approved issuance of non convertible / unsecured debentures , up to an amount of Rs.5,000 Crore , non convertible subordinated unsecured debenture of Rs. 1,000 Crore and non convertible perpetual unsecured debenture , up to an amount of Rs. 500 crore
05th May 16 DHFL Q4 net profit at Rs 190 crore
DHFL registered a net profit growth of 17.37% to Rs 729.20 crore for the year ended March 31, 2016. Net profit increased by 16.86 % to 189.65 crore for the year quarter ended March 31. DHFL continues to witness a robust financial performance in FY16 on the back of buoyant demand for home loans from the affordable segment. This has been made possible further with their relentless focus on customer centric products and service innovations aimed at driving customer satisfaction, profitability and sustainability.