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DBS Loan Against Property

DBS Bank Mortgage Loan Interest Rates 2021

Last Updated 09th Nov 2021

DBS Bank is one of the largest Foreign Bank in the country that offers the lowest rates on loan against property. Currently, the bank offers loans starting from 8.15% with quick approval and online process. The bank offers special features and attractive rates for different income and occupation groups. Some of the key features of DBS Bank Loan against property are mentioned below: Check Best Offers

Processing Fee Upto 1.00%
Max Tenure 10 years
Lowest EMI ₹ 1,221 per lakh
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed

    Avail loan against 65% of market value of your property

    Apply for Loan Against Property @ 6.90%* Get upto ₹ 1,000* Cashback

    DBS Bank Loan Against Property

    DBS offers loan against property to meet your business as well as personal needs against the mortgage of your existing residential or commercial property. Taking a loan from DBS has the following benefits:

    • Avail loan against 65% of market value of your property
    • Get loan upto Rs. 3 crores
    • Flexible repayment tenure upto 10 years

    DBS Bank Loan Against Property Fees and Other Charges

    Along with DBS Loan against Property Rates, DBS also charges various fees and charges when a borrower takes a loan against property:-

    • Processing Fee on DBS LAP Loan is 0.75%. This fee is charged by DBS to maintain the applicant’s loan account and to process the loan application.
    • Advocate's fee for property search and title investigation report.
    • Valuer's fee for valuation report.
    • Stamp duty payable for Loan agreement and mortgage.
    • Property insurance premium.
    • CERSAI Registration Fee of ₹ 50 + GST up to ₹ 5 Lakh limit and ₹ 100 + GST for limits above ₹ 5 Lakh.

    DBS Bank Property Loan Interest Rate for Business Man or Self Employed Person

    The interest rate for mortgage loans for Self-employed people are listed in the table:

    Interest Rate for Self-Employed for Residential Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 8.15%
    ₹ 30 Lakh - ₹ 75 Lakh 8.15%
    ₹ 75 Lakh - ₹ 1 Cr 8.15%
    Above ₹ 1 Cr 8.15%

    Steps to Apply for DBS Bank Loan Against Property

    You can apply for DBS Bank Loan against property through online as well as offline modes. To apply for a loan through offline mode, you need to visit the official DBS Bank bank branch and fill the application form along with the required documents for loan against property. The bank will then complete the verification process and will sanction the loan on loan approval. Once the loan is approved, you will receive the amount in your bank account.

    To apply online for DBS Bank Loan against Property online, you need to follow these steps:-

    • Visit the official website of DBS Bank and navigate to Loan Against Property.
    • Before applying, now check your eligibility for DBS Bank Loan against Property.
    • Check various details about the loan, such as interest rates and other charges.
    • If you are satisfied and have cross verified all the details, fill the application form and upload the required documents.
    • On successful verification, the bank will sanction the loan amount in 10-15 days.

    Apart from that, you can also visit online marketplaces like MyLoanCare to apply for a DBS Loan against property. Here, you can compare offers DBS with other top banks and can use the EMI and Eligibility calculators to plan your expenses and loan repayments. DBS Loan against property application process at MyLoanCare is hassle-free and transparent.

    Compare DBS Bank Loan Against Property Interest Rate with Top Banks

    DBS Bank offers multiple schemes for loan against property at affordable interest rates. However, you must compare SBI and other bank’s home loan rates before applying:-

    Particulars DBS Bank SBI HDFC
    Interest Rate 8.15% - 8.15% 8.80% - 13.10% 8.75% - 9.90%
    Processing Fees Upto 1.00%
    Upto 1.00%
    Max ₹ 50,000
    Upto 0.75%
    Loan Tenure 10 Years 10 Years 15 Years
    Maximum Loan Amount ₹ 3 Cr ₹ 7.50 Cr ₹ 5 Cr
    Age Min 21 and Max 65 years Min 18 and Max 70 years Min 24 and Max 65 years
    Benchmark Rate RLLR RLLR PLR
    Lowest EMI Per Lakh ₹ 1,221 per lakh ₹ 1,256 per lakh ₹ 999 per lakh
    DBS Bank Floating Rate on Loan Against Property

    As on 09 Dec, 2021, DBS offers the lowest rate starting at 8.15%. DBS Loan against property rates have been dropped by 3.75%, from the earlier rate of 11.90% with effect from 01 Apr, 2021.

    DBS Bank Mortgage Loan Interest Rates
    DBS Bank Loan Against Property Floating 8.15%
    DBS Bank Loan Against Property Floating
    Loan AmountCurrent LAP Rates
    Upto ₹ 30 Lakh 8.15%
    ₹ 30 Lakh - ₹ 75 Lakh8.15%
    ₹ 75 Lakh - ₹ 1 Cr8.15%
    Above ₹ 1 Cr 8.15%

    DBS Loan Against Property Rate Trends of Last 1 Year

    Last Updated Date Interest Rates
    01 Apr, 2021 8.15%
    31 Mar, 2021 8.15%
    22 Jan, 2021 8.15%

    Factors Affecting DBS Loan against Property Interest Rates

    Some of the factors that impact DBS Loan Against Property rates are listed as follows:

    • Loan amount: Property loan rates in DBS depend upon the loan amount you apply. You can get a minimum loan of ₹ 40 Lakh from DBS.
    • Your Net Monthly Income: Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for higher loan amount.
    • Type of loan opted for: DBS offers differential rates for customers different profiles and also fixed and floating rate schemes. Loan against property interest rates may be higher or lower for special loan products.
    • Type of property: Typically, loans against prime residential properties are easier to get and can be availed at the lowest rates compared to loans against commercial and industry properties.
    • Your profession: DBS may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman. A self employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or business compared to salaried people who will most likely take a mortgage loan for his personal purposes.

    DBS Loan Against Property Eligibility Criteria

    DBS has detailed criteria to determine a potential borrower’s eligibility for mortgage loans. Some of the key criteria are:

    Eligibility Criteria Details
    Age 21 to 60 years
    Minimum Income ₹ 25,000
    Loan Amount ₹ 40 Lakh to ₹ 0 Cr
    Minimum Credit Score 650 and above
    Loan to Value Ratio Upto 50%
    FOIR (Fixed Obligations to Income Ratio) 0.65

    DBS Bank Mortgage Loan Interest Rate and EMI Calculator

    You can also use an online DBS Bank Loan against property EMI Calculator to calculate loan EMIs. EMI is a fixed amount that you are required to pay each month towards the repayment of your loan till the end of tenure

    • The DBS Bank Mortgage Loan EMI calculator helps you calculate your monthly EMI at different rates of interest and check and compare the lowest EMI per lakh on LAP.
    • You can compare the estimated EMI with your monthly repayment capacity to decide on a level of EMI you can comfortably service without creating financial burden.
    • Loan tenure matters equally as higher loan tenure reduces your EMI.
    • Another factor that affects your EMI is the loan against property interest rate. Higher the interest rate, higher will be the EMI. However, your cumulative interest outgo will be significantly higher in a longer tenure loan than a short tenure loan. Loan against property interest rate comparison of different banks will allow you to choose the cheapest loan and hence, improve your eligibility.
    Loan Against Property Top up, Transfer in DBS Bank

    DBS Bank offers mortgage loan balance transfer from another bank, subject to your meeting other eligibility criteria of DBS Bank at an affordable interest rate, higher loan amount and convenient loan tenure. DBS Bank loan against property balance transfer helps you make your loan repayment convenient and opt for a beer customer service. Current loan against property balance transfer rates in DBS Bank are 8.15%. Along with that, you can also avail of additional top-up on your loan against property.

    DBS Maxgain

    • Flexible repayment tenure up to 10 years
    • Interest rate charged is same as the normal loan against property
    • You can easily avail loan from ₹ 30,00,000 to ₹ 30,000,000 at the LTV of 65 percent
    • Maxgain is a kind of overdraft facility in which you can operate your loan account as current/savings account
    • This loan can be easily availed by Salaried, Self employed professional and non professional not more than 70 years of age

      DBS Bank Loan Against Property Documents Required

      For Self-Employed

      • Filled up loan application form
      • 2 Passport Size Photo
      • ITR of last 0 years
      • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
      • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 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
      For Salaried employee
      • Filled up loan application form
      • 2 Passport Size Photo
      • ITR of last 0 years
      • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
      • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 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
      • Registered Sale Deed/ Conveyance/ Lease Deed
      • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
      • Latest House Tax Return/ Receipt
      • Approved Building Plan from Municipal Corporation

      FAQs

      What is DBS Banks loan against property interest rate?

      DBS Bank offers loan against property at a rate of 8.15% with the lowest EMI of ₹ 1,221. If you are currently paying a higher interest rate than DBS Bank rate, you can opt for a balance transfer of loan to DBS Bank.

      Did DBS Bank Loan against property rates drop?

      Yes, DBS Bank loan against property rates has decreased by 3.75% from the previous rate of 11.90% to 8.15%. The lowest mortgage rates of DBS Bank are effective from 01 Apr, 2021.

      How to increase my eligibility on DBS Bank Mortgage 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.

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

      Yes, you can foreclose your DBS Bank loan against property anytime you want with Nil foreclosure charges.

      What is the maximum loan tenure I can opt under DBS Bank Property loan?

      DBS Bank offers a maximum tenure of 10 years to repay your loan.You can choose the tenure for your LAP loan as per your convenience and repayment ability.

      What is the benchmark rate applicable for Mortgage loan?

      The benchmark rate applicable for property loans in DBS Bank is RLLR

      Can I transfer my LAP from another bank to DBS Bank?

      Yes, Bank gives you the facility to transfer your existing loan with a hassle free process. Loan balance transfer to DBS Bank offers you to pay lower EMIs and save money and enables you to choose better customer service, if you are not satisfied with your existing bank. Current Balance transfer rates in DBS Bank are 8.15%.

      What is DBS Bank mortgage loan processing fees?

      The loan processing fee charged is 1.00% of the total loan amount.

      What security do I need to provide for DBS Bank Mortgage Loan?

      DBS Bank requires a registered mortgage of the property against which the bank will provide you a loan.

      • Property on which you intend to take loan is not vacant land, has an approved map plan and is in a municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
      • Your total EMIs on all loans and credit cards (from DBS Bank and other banks) are no more than 60 - 70% of your net monthly income.
      • You have not defaulted on loans or credit card dues to DBS Bank and other banks and all EMI's have been paid. Note that DBS Bank can see the record or status of your EMI defaults to all banks and NBFC’s in India and not just to DBS Bank in your CIBIL report. Estimate your CIBIL score for free for free by using CIBIL score estimate calculator
      • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan application
      • If you are self employed, your business must have been in existence for at least three years and last three income tax returns with audited financial must be available

      Are prepayment or foreclosure charges applicable on DBS Bank loan against property?

      You can prepay loan against property (LAP) without any penalty or charges in case:

      • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
      • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

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      DBS Loan Against Property News - Dec 2021
      • 2021-04-30 : DBS planning to buy Citi’s consumer banking in India
        DBS is planning to purchase Citi’s consumer business in India. Citibank announced that it will be exiting from 13 international consumer banking markets, including India and China as part of its global strategy.
      • 2021-03-09 : DBS Bank launched a travel marketplace on the digibank app
        DBS Bank introduced a travel marketplace on the digibank app. It will enable customers to browse and book flights, bus tickets and hotels across hundreds of destinations within and outside of India. DBS bank offers a savings account and currently the interest on the savings account is 4%.
      • 2018-11-10 : DBS Bank revises MCLR
        DBS Bank has revised its MCLR for the month of November. The new rates now stand in the range of 8.70% to 9.00%, with 6-month MCLR and the 1-year rate at 9.00%. The new rates are effective from November 7, 2018.
      • 2018-09-07 : DBS Bank hikes Floating Home Loan and LAP rates
        DBS Bank has increased its floating Interest Rate on the home loan and Loan Against Property (LAP) by 25 basis point following the hike in its MCLR. The new rate for the Home loan now starts at 9.70% and for that of LAP at 12.15%, a hike of 25 basis points. The revised rates are effective from September 7, 2018. There is no change in the processing fees.
      • 2018-08-08 : DBS Bank revises MCLR rates
        DBS Bank has revised its MCLR for the month of August. The rates continue to be in the range of 8.60% to 8.90%. Six month MCLR is now at 8.85% and that of one year is 8.90%. The rates are effective from August 7, 2018.
      *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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