Dena Loan Against Property Interest Rate Calculator - Dec 2016

Dena Bank Loan Against Property Interest Rates

Last Updated 03rd Dec 2016
Interest Rate 11.10% - 11.10%
Check Special Offers
Lowest EMI Rs. 1,718 per lakh
Max Tenure 7 years
Processing Fee Upto 1.00%
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
Apply Loan Against Property Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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Dena Bank Loan Against Property

Dena Bank offers Loan Against Property to the customers if they need to expand their business or want money for personal use. The loan is given upto 50% of the market’s value for tenure of 18 years.

Loan Against Property Dena

Loan Against Property interest rates offered by Dena Bank depends upon MCLR
  • Floating rates changes with a single change in Dena Bank MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
Dena Bank offers Property Loan based on 1 Year MCLR which is currently 9.40%
Dena Bank mortgage loan interest rate depends upon
  • Loan amount: Dena Bank mortgage loan rate depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: Dena Bank has a list of companies to which they lend Loan Against Property. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. Dena Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Loan Against Property Charges

Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Dena Bank allows prepayment of loan against property with 0.50% of the sanctioned amoount prepayment charges
Processing Fee - Dena Bank asks for a processing fee of 1.00% of loan amount with applicable service tax

Dena Loan Against Property EMI Calculator

Loan Against Property EMI of Dena Bank is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure
  • Dena Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on Loan Against Property
  • 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 Dena Loan Against Property EMI?
  • Dena Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • Dena Bank EMI calculator for Loan Against Property 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

Dena Loan Against Property Eligibility Calculator

Loan Against Property eligibility criteria Dena Bank
Eligibility of Loan Against Property in Dena Bank 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: Dena Bank offers loan against property for a maximum tenure of 18 years if the borrower’s age does not exceed above 60 years for salaried and 65 years if you are self employed. Apply for loan at smaller age, higher will be the chances of loan approval
  • Value of the property: Dena Bank decides your loan amount based on the market value of the property which you place as your collateral for the loan. Dena Bank lends less than the market value of the property. As per RBI guidelines, the borrower also has to show some contribution. Ratio of loan amount to value of home is called Loan to Value (LTV) ratio. Dena Bank gives maximum LTV of 50% for property loans depending upon market value of the property
  • Repayment capacity of the borrower: Your eligibility to take loan against property depends upon the maximum EMI that you can pay. Dena Bank checks your past CIBIL history, repayment record of credit cards and existing loans that can impact your loan against property eligibility. If you have any other loan running whose EMI you are paying currently, then you are supposed to close your loan to get higher loan against property eligibility. Dena Bank does not specify any particular CIBIL score for being eligible for a property loan. However, it is observed that a score of 700 and above is desirable
    To reduce your burden of higher EMIs, Dena Bank gives you a maximum tenure of 18 years for a maximum loan amount of Rs.50,000,000 with a minimum spread of % over 1 Year MCLR. Opt for a loan tenure that suits you and higher the loan tenure, higher will be loan amount eligibility
  • Income: Loan against property are mostly taken by the people who are self employed in order to expand their business. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings
    Business person should be in business from the past 0 years and minimum ITR of last 2years is required as proof to Dena Bank
Estimated eligibility online by using Eligibility Calculator.
Popular Products:
  • Dena Loan Against Property
  • Dena Mortgage Loan

Dena Bank Floating Rate Loan Against Property

Dena Bank Loan Against Property Floating
Upto Rs. 3,000,000 - 11.10%
Rs. 3,000,001 - 7,500,000 - 11.10%
Rs. 7,500,001 - 10,000,000 - 11.10%
Above Rs. 10,000,000 - 11.10% linked to 1 Year MCLR
with OD Facility
Upto Rs. 3,000,000 - 0.00%
Above Rs. 3,000,001 - 7,500,000 - 0.00%
Above Rs. 7,500,001 - 10,000,000 - 0.00%

Dena Bank Loan Against Property Top up, Transfer

Transfer of Loan Against Property from another bank to Dena Bank?
Dena Bank offers loan against property balance transfer from another bank. This is subject to your meeting other eligibility criteria of Dena Bank
You can avail additional top-up loan against property from SBI, subject to your eligibility

Loan Against Property Dena documents required

Loan Against Property for Salaried employee Dena Bank 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

Loan Against Property for Self-Employed Dena Bank 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

Property documents for Loan Against Property from Dena Bank

  • 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
Past trends of MCLR of Dena Bank
Date MCLR
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
05th Oct 15 9.70% decreased by 0.3%
29th Sep 15: 0.5% repo cut by RBI
08th Jun 15 10.00% increased by 1.75%
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
09th Feb 13 10.25%
29th Jan 13: 0.25% repo cut by RBI
21st May 12 10.45% increased by 0.2%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
04th Aug 11 10.70% increased by 0.25%
26th Jul 11: 0.5% repo hike by RBI
02nd Jul 11 10.20% decreased by 0.5%
16th Jun 11: 0.25% repo hike by RBI
06th May 11 9.95% decreased by 0.25%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
02nd Feb 11 9.45% decreased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
15th Dec 10 8.95% decreased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Nov 10 8.45% decreased by 0.5%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 8.25% decreased by 0.2%

Dena MCLR Vs. RBI Repo Rate Trend

Frequently Asked Questions

What are the five things to check before applying for loan against property in Dena ?

  • Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
  • Your existing EMI’s on all loans and credit cards (from Dena 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 Dena Bank and other banks and all EMI's have been paid. Note that Dena Bank can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to Dena Bank in your CIBIL report. Estimate your CIBIL score 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 applicantion
  • If you are self employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financials must be available

Will Dena mortgage loan interest rate remain fixed or will it change in future?

  • Floating interest rate on Dena Bank property loan is linked to its 1 Year MCLR, which is currently 9.40%. So, when Dena Bank offers a loan against property at 11.10%, it applies a 1.7% premium to its MCLR to arrive at this rate
  • When market interest rates go up, the bank increases its base rate and the applicable rate for all existing loans goes up. When interest rates trend downwards, the bank has to reduce the base rate as it is not allowed to lend below the base rate. Thus, any benefit of lower rates will have to be passed to both old borrowers and new borrowers
  • Base rate benchmarked loans provide a better and more transparent interest rate transmission for the borrower compare to PLR benchmarked loans
  • Current MCLR of Dena Bank, its past trend and comparison with RBI repo rate are given here for your reference

Are prepayment or foreclosure charges applicable on Dena 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

For loans from Housing Finance Companies, refer to NHB circulars NHB(ND)-DRS-Policy-Circular-63-14-15 dated Aug 14, 2014 and NHB-ND-DRS-Policy-Circular-No-66-2014-15 dated Sep 03, 2014 for more details.

Please contact myloancare at 0124 426 4004 or care@myloancare.in in case you need any assistance or clarification on this subject.

Dena Bank Loan Against Property in India

Dena Bank Loan Against Property Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 0522-2453344
Ahmedabad 0241-2346012
Ambala 1800-233-6427
Anand 1800-225-740
Aurangabad 0241-2346012
Bangalore 1800-233-6427
Bhilai 1800-233-6427
Bhilwara 1800-225-740
Bhiwadi 1800-233-6427
Bhopal 1800-225-740
Bhubaneswar Cuttack 1800-233-6427
Bikaner 1800-225-740
Chandigarh 1800-225-740
Chennai 1800-233-6427
Cochin 1800-225-740
Coimbatore 1800-233-6427
Dehradun 1800-233-6427
Delhi 011-23414552
Durg 1800-233-6427
Faridabad 1800-233-6427
Gandhinagar 0241-2346012
Ghaziabad 1800-225-740
Goa 0832 2269900
Greater Noida 0522-2453344
Gurgaon 1800-225-740
Guwahati 1800-225-740
Gwalior 1800-225-740
Hyderabad 1800-233-6427
Indore 1800-225-740
Jabalpur 1800-225-740
Jaipur 1800-225-740
Jalandhar 1800-225-740
Jodhpur 1800-225-740
Kanpur 0512-2616330
Karnal 1800-225-740
Kolhapur 0241-2346012
Kolkata 0341 2304567
Kota 1800-225-740
Kozhikode 1800-225-740
Lucknow 0522-2453344
Ludhiana 1800-225-740
Madurai 1800-225-740
Meerut 0522-2453344
Mehsana 1800-225-740
Mohali Sas Nagar 1800-225-740
Mumbai 0241-2346012
Mussoorie 0522-2453344
Nagpur 0241-2346012
Nashik 0241-2346012
Noida 0522-2453344
Noida Extn. 0522-2453344
Panipat 1800-225-740
Patna 1800-225-740
Pondicherry 0413 2226738
Pune 0241-2346012
Raipur 0241-2346012
Rajkot 1800-233-6427
Ranchi 1800-233-6427
Rohtak 1800-233-6427
Roorkee 1800-225-740
Salem 1800-233-6427
Shimla 1800-225-740
Sonepat 1800-225-740
Surat 1800-225-740
Trichy 1800-225-740
Udaipur 1800-225-740
Vadodara 1800-225-740
Varanasi 1800-225-740
Vijaywada 1800-225-740
Vizag 1800-225-740
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Dena Loan Against Property News - Dec 2016
01st Sep 16 Dena Bank has reduced its MCLR from 1st September, 2016
Dena Bank has reduced its Marginal Cost Based Lending Rate (MCLR) by 5 basis point (bps) across maturities. The 1 year MCLR has been reduced to 9.45 percent from the current rate of 9.5 percent. The 3 month and 6 month MCLR has been reduced to 9.25 percent and 9.35 percent respectively. Similarly the Overnight MCLR has been reduced to 9.05 percent. These changes are effective from 1st September, 2016. . For borrowers who have taken a home loan from Dena Bank after 1st April 2016, the reduction in MCLR will translate into a reduction in their home loan rates and hence their interest outgo. However, if you have taken home loan at fixed interest rate then your interest expense will remain unchanged.
01st Aug 16 Dena Bank has reduced its MCLR from 1st August, 2016
Dena Bank has reduced its Marginal Cost Based Lending Rate (MCLR) across maturities, effective from 1st August 2016. The 1 year MCLR has been reduced by 5 basis points from 9.55 percent to 9.5 percent. The 3 month and 6 month MCLR has been reduced by 10 basis points to 9.3 and 9.4 percent respectively. Similarly the overnight and 1 month MCLR has been reduced by 15 basis points to 9.1 and 9.2 percent respectively. If you are a borrower of the Dena Bank and have taken loan after 1st April 2016, the reduction in loan rates should result in a lower interest burden and lower EMIs. However, if you have taken loan at fixed interest rate then you will not able to benefit by the rate cut.
13th Jun 16 Dena Bank reports Net Loss of Rs326.38 crore for Q4FY16
As per the result for Q4FY16, Dena Bank has reported Net Loss of of Rs.326.38 crore as the bank had to provide for higher provisions against bad loans. The loss was on account of a tax write-back of Rs.340.86 crore in the March quarter. The bank reported increase in Net Interest Income (NII) by 2.7 percent to Rs.625.17 crore, when compared on yoy basis. Non Interest Income of the bank also increased by 7.21 percent to Rs.215.87 crore. The Asset Quality showed signs of deterioration during the current quarter as Gross NPA in March quarter increased to 9.98 percent from 5.45 percent in year ago period. Net NPAs increased to 6.35 percent against 3.82 percent in previous quarter. Provision for NPA increased to 200 percent in March quarter to 1094.24 crore when compared on yoy basis.
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