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DCB Home Loan

DCB Housing Loan 2021

Last Updated 02nd Nov 2021

DCB Bank is a large Private Bank with the lowest home loan percent rate in India. Currently, the bank offers home loans beginning from 8.25% with quick approval and online process. Home Loan in DCB Bank is quite popular with its special features and attractive rates under various DCB Bank home loan schemes for different income and occupation groups. Some of the key features of DCB Bank housing loan are:

  • DCB Bank also offers pre-approved housing loans at low rates for existing bank customers with strong credit history.
  • DCB Bank has an online application process where the KYC, income and property documents submission can be done digitally.
  • You can easily check the status of your DCB Bank home loan application status on a real time basis on the bank’s website or by visiting their customer care centre.
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DCB Bank Home Loan Details

DCB offers multiple home loan products to its customers at low rates. Below-mentioned are the details of home loan DCB

Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Repayment Tenure 20 years
Interest Rate 8.25%
Interest Rate Linked To MCLR
Processing Fee Upto 2.00%, Minimum ₹ 5,000
Lowest EMI Per Lakh ₹ 852
  • Purpose of Loan: DCB house loan is taken to purchase, construct a home, renovate your existing home.
  • Key Features of DCB Home Loans
    • Loan available for both salaried and self employed. Special rates for women borrowers.
    • Borrowers within the age group of 21 and 60 years.
    • Security: Mortgage of property you are planning to purchase, renovate or construct.
    • Loan to Value Ratio of 80%.
    • Loan Tenure can range from 5 to 20 years.
    • Interest rates in the range of 8.25% to 14.00%.
    • DCB home loan EMI per lakh starts from ₹ 852. However, you can calculate your home loan EMI using DCB home loan calculator 2021.
  • Special schemes: DCB offers customised home loan interest rates and schemes for special category of borrowers including women borrowers, senior citizens, NRIs etc.

Features & Benefits of DCB Bank Home Loans

Some of the features and benefits of DCB Bank Home Loans are listed as follows:-

  • DCB Bank Home Loan Interest Rate starts from 6.70%.
  • DCB Bank charges a processing fees of Upto 2.00%, Minimum ₹ 5,000.
  • Loan Tenure of Home Loan ranges from 5 years to 30 years.
  • Lowest EMI per lakh on home Loan from DCB Bank is per lakh offered at the lowest interest rate of 6.70% at the longest loan tenure of 30 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.

How to Get Easy Home Loan from DCB Bank?

Getting a home loan from DCB is fairly easy with an online application process. 5 Steps for DCB Home Loan Apply

  • Step 1: Visit the website, branch, or website of authorised online channel partner of DCB and fill in the application form with loan amount required, property details, your personal details, occupation information and your contact number.
  • Step 2: An official of DCB or online partner will call you to discuss your eligibility of the loan as well as explain the loan rates, terms as well as processing fees and other charges.
  • Step 3: Once you agree to proceed with the loan application, you will need to submit your income and property documents online or a DCB’s representative will visit your home or office to collect your documents.
  • Step 4: DCB will ask you to submit the processing fees and take a few days to conduct a credit appraisal and do technical evaluation of your property.
  • Step 5: If you are eligible and your property qualifies for a loan, you will be issued a sanction letter from DCB and will need to sign a loan agreement with the bank. Post this, the loan will get disbursed to your account.

DCB Bank Home Loan Documents Required

To apply for a home loan in DCB, the bank asks you to submit the following DCB Home Loan Documents .

  • Home loan application form with three attested photographs.
  • Identity proofs: PAN, passport, Voter ID card or driving license.
  • Address or residence proofs: Recent copy of utility bills such as telephone, electricity bill, water bill, gas bill, or a copy of aadhar card, passport, driving license.
  • Property papers: Permission for the construction of a property; allotment letter; stamped agreement for sale; registered agreement for sale (only for Maharashtra); share certificate (only for Maharashtra); maintenance and electricity bill of the property; property tax receipt; conveyance deed in case of new property; payment receipts or DCB account statements of the payments made to the builder or the seller; Xerox copy of the approved plan copy and registered development agreement of the builder.
  • Bank account statements for the last six months of all bank accounts held by the applicant.
  • Loan A/C statement of last one year if any loan is availed previously from any other bank or another lender.
  • Income proof for salaried: Salary certificate or salary slip for the last three months; copies of form 16 of last two years; a copy of IT returns for the last two financial years that is acknowledged by the Income Tax department.
  • Income proof for self-employed: Address proof of business; Income tax returns of last three years; balance sheet and Profit & Loss A/c for last three years; business license details; TDS certificate or Form 16 A.
  • Self-employed professionals like CA or doctors, amongst others, are also required to submit the certificate of qualification.

DCB Bank Home Loan EMI Calculator

DCB home loan EMI calculator helps the home loan borrowers plan their home loan EMIs, that is composed of the monthly interest rate, and monthly reducing balance. The calculator functions on the basic components of the principal amount, loan tenure and interest rate. DCB Bank Home loan calculator helps the loan borrower pre-plan their home loan in advance.

DCB Bank Home Loan Eligibility Calculator

DCB Bank Home loan eligibility calculator is an online tool that helps the DCB home loan borrowers estimate their home loan eligibility. The eligibility calculator considers various factors such as the income of the applicant, age, work experience, employment and credit score. Therefore, the eligibility helps one analyse their ability and affordability of a home loan. You can also add a co-applicant in case your loan eligibility is lower than the amount.

Compare DCB Bank Home Loan with Other Banks

FAQs

What are the documents required for home loan DCB?

To apply for DCB Bank Home Loan, you will be required to submit DCB home loan documents such as home application form with attested photographs along with various other documents such as identity proof, bank statements, residence proof, property papers and loan account statements if any.

Why should I take a home loan from DCB Bank ?

Below-mentioned is the reason why you must avail a home loan from DCB

Can I apply for an DCB home loan online?

Yes, you can apply for a DCB home loan online by visiting the bank’s official online portal for home loans or at an online marketplace like MyLoanCare.

Which is the best DCB home loan scheme?

Choosing the best DCB home loan scheme is subjective to the requirement of the home loan applicant. For instance, there are different home loan offers for the purchase, construction or renovation of a home. Thereby, choosing the best DCB home loan scheme is based on one’s needs.

Is DCB good for a home loan?

DCB is one of the best home loan lenders in the country. Currently, DCB home loan interest rate 2021 starts at 6.50%.

How can I check my DCB home loan status?

One can check their DCB home loan status on DCB’s home loan portal under the option. ‘Application tracker’. Apart, home loan status can also be checked on the DCB mobile app

What is the eligibility for a Home Loan of DCB Bank?

The eligibility to avail a Home Loan is set across the applicant’s age and income. The age of the applicant should range between 18-70 years. Further the minimum income of the applicant should be ₹ 25,000 along with a good credit score of 650 and above.

What is DCB Bank Home Loan procedure?

There are two methods to complete the application for DCB Bank Home Loan Process online:

  • Apply online at DCB Bank official website or online portal for home loans.
  • Online Marketplace like MyLoanCare

However, Availing a loan through an online marketplace improves your the chances of getting the best loan rates, low processing fees and special offers in the form of cash backs.

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 the benefit of paying less EMI per month.

Does DCB Bank check CIBIL for home loan?

Yes, to avail home loan from DCB Bank, you must fulfill DCB Bank Home Loan CIBIL requirement of a min CIBIL Score of 650 or above.

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 a housing loan?

The benchmark applicable for Home Loan in DCB Bank is 1 Year MCLR . MCLR is an external benchmark wherein commercial banks use the RBI’s repo rate to calculate the retail loan interest rate. In MCLR, the reset period is 3 months which implies that banks would revise your interest rate of RLLR-linked loans every 3 months.


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DCB Home Loan News - Nov 2021
  • 2021-09-14 : DCB Bank Revises MCLR Rate
    DCB Bank has revised the Marginal Cost of Funds Lending Rate (MCLR) for different tenures. Now, the one-year and six-month MCLR are 9.02%. Three-months MCLR is at 8.77%, one month and overnight MCLR is 8.07%.
  • 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.
*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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