DCB Bank Home Loan Interest Rate
The Development Credit Bank, also known as the DCB, is a next-generation private bank with a vast network of over 405 branches across India. Regulated by the Reserve Bank of India, the DCB Bank has helped thousands of people buy and renovate their dream homes with its affordable home loan schemes. The DCB Bank home loan interest rate starts at 9.75% per annum. The DCB home loan interest rate may vary for floater and fixed rate basis at the bank's discretion. The maximum loan repayment tenure offered by the bank on home loans is up to 20 years, during which the customer can enjoy flexible EMI repayments. DCB Bank offers a maximum loan of up to Rs. 5 crores to eligible borrowers.
DCB Bank EMI Calculator
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DCB Bank Home Loan Key Highlights
| Amount of Loan | Up to Rs. 5 crore |
|---|---|
| Rate of Interest | 9.75% p.a. onwards |
| Processing Fees |
Up to 2% of the loan amount (Min. Rs. 5,000) |
| Max Tenure for Loan Repayment | 20 years |
DCB Bank Home Loan Interest Rates in 2024
DCB Bank allows applicants to choose between floater and fixed-rate home loans. The lowest DCB Bank home loan interest rate starts at 8.25 - 12.72% per annum. The tables given below highlight the DCB Bank home loan interest rate 2024 for different categories of loan applicants.
| Loan Category | Rate of Interest on Home Loan |
|---|---|
| Salaried | 9.75% p.a. onwards |
| Self-Employed | 9.75% p.a. onwards |
Standard Home Loan Rates of Interest for Salaried and Self-Employed Applicants
External Benchmark Lending Rate (EBLR) is 9.56% p.a.
| Loan Category | Rate of Interest on Home Loan (p.a.) |
|---|---|
| All Loan | 9.75% p.a. onwards |
DCB Micro Home Loan Interest Rates
| Loan Slab | Rate of Interest on Home Loan (p.a.) |
|---|---|
| All Loans | 9.75% p.a. onwards |
Top-Up Loans Interest Rates
| Loan Category | Rate of Interest on Home Loan (p.a.) |
|---|---|
| Top-Up for Existing Bank Customers | 9.75% p.a. onwards |
Interest rates were last updated on 27th November 2023
DCB Bank Home Loan Interest Rates for All Schemes in India
DCB Bank offers the best home loans to eligible applicants with minimum documentation. Be it to buy a home or a plot, renovate or extend a home, or to transfer the balance from another bank, DCB Bank offers it all under its different home loan schemes. The table below highlights the home loan schemes offered by DCB Bank and the interest on each plan.
| DCB Bank Home Loan Schemes | Rates of Interest for Each Plan |
|---|---|
| DCB Regular Home Loan |
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| DCB Micro Home Loan |
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| DCB Balance Transfer Home Loan |
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| DCB Top-Up Home Loan |
|
DCB Bank Home Loan Interest Rates for Balance Transfer, Top Up and Overdraft
To make it more convenient for home loan borrowers, the DCB Bank offers three types of additional facilities. The purpose is to reduce the financial burden on the customers at the time when they need urgent funds for professional or personal needs. Have a look at these three flexible home loan facilities offered by the DCB Bank
DCB Bank Home Loan Balance Transfer
DCB Bank understands how one feels to see something already bought available at cheaper rates later in life. So, it allows existing home loan borrowers to transfer their outstanding loan amount from other banks and NBFCs to DCB Bank at a lower interest rate. For this, customers must apply for a DCB Bank Balance Transfer Home Loan.
DCB Bank Home Loan Top-Up
Enjoy paying flexible home loan repayment EMIs by opting for DCB Bank top-up home loans. The borrower can unlock extra funds through a top-up plan to meet some hidden professional or personal financial expenses. The DCB Bank home loan top-up interest rate starts at 9.75% per annum.
DCB Bank Home Loan Overdraft Option
There is no need to apply for another fresh loan if you are a DCB Bank home loan borrower. Simply avail of the DCB Bank home loan overdraft facility that helps save extra funds for unexpected financial expenses. Through the OD facility offered by DCB Bank, a borrower can deposit an additional amount in the loan account and use it as and when required.
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Compare DCB Bank Home Loan Interest Rate with Top Banks
We recommend you take some time to compare the DCB Bank home loan interest rate with other leading banks and NBFCs of India. This comparison will help you make an informed decision on why you are choosing a home loan from the DCB Bank and not from others. The table below highlights the interest rates and processing fees of other popular financial organizations in India providing home loans
| Bank/NBFC | Rate of Interest on Home Loan | Processing Fee |
|---|---|---|
| Bank of India | 8.30% p.a. onwards | Nil (until 31 Dec 2023) |
| Indian Bank | 8.40% - 10.40% p.a. | Up to 1.00% of the loan amount |
| Bajaj Housing Ltd. | 8.50% p.a. onwards | Up to 7.00% of the loan amount + GST |
| LIC HFC | 8.50% p.a. onwards | Up to 0.25% (Rs. 25,000 max) |
| Kotak Mahindra | 8.75% - 9.60% p.a. | 0.5% - 1.0% of loan amount + taxes |
DCB Home Loan Balance Transfer Interest Rates
The DCB Bank prefers to lighten the financial burden of its customers and for this, it offers them to transfer their outstanding balance on loan repayment from another bank to DCB Bank’s lower rate of interest home loan schemes. This is done through the DCB Bank home loan balance transfer scheme.
DCB Bank home loan transfer interest rates start at 9.75% per annum. Both salaried and self-employed borrowers can easily avail of this scheme offered by the bank. Have a look at the easiest way to apply for a DCB Bank balance transfer home loan:
- Go to the Repay Right section on the BASIC Home Loan website - Repay Right
- Enter the required information in the provided form and fill in the key details on the current outstanding loan amount, existing rate of interest per annum, new rate of interest per annum, existing loan repayment tenure, and existing EMI paid on the loan amount.
- Click on Next once you have entered the required details on the form.
- You can see your total savings with the DCB Bank Home Loan Balance Transfer option on the next page.
- Alternatively, you can get in touch with one of the team representatives of BASIC Home Loan, who can help maximize your savings with DCB Bank Balance Transfer on home loans.
Get Home Loan Starting at 8.5%*
How to Calculate DCB Bank Home Loan Interest Rates?
The best way of determining the interest rate payable on a DCB Bank home loan plan is by using the online home loan interest rate calculator available at EMI. Feel free to use this easy-to-use online EMI calculator to plan your monthly finances better without any confusion. The table below provides a detailed estimate of the EMI payable and the interest rate on DCB Bank home loans
DCB Bank Home Loan EMI Calculator 2024
| Loan Amount | Rate of Interest | EMI for 10-Year Loan Tenure | EMI for 20-Year Loan Tenure | EMI for 30-Year Loan Tenure |
|---|---|---|---|---|
| Rs. 10 lakh | 9.75% p.a. | Rs. 13,077 | Rs. 9,485 | Rs. 8,592 |
| Rs. 20 lakh | 9.75% p.a. | Rs. 26,154 | Rs. 18,970 | Rs. 17,183 |
| Rs. 30 lakh | 9.75% p.a. | Rs. 39,231 | Rs. 28,456 | Rs. 25,775 |
| Rs. 40 lakh | 9.75% p.a. | Rs. 52,308 | Rs. 37,941 | Rs. 34,366 |
| Rs. 50 lakh | 9.75% p.a. | Rs. 65,385 | Rs. 47,426 | Rs. 42,958 |
| Rs. 60 lakh | 9.75% p.a. | Rs. 78,462 | Rs. 56,911 | Rs. 51,549 |
| Rs. 70 lakh | 9.75% p.a. | Rs. 91,539 | Rs. 66,396 | Rs. 60,141 |
| Rs. 80 lakh | 9.75% p.a. | Rs. 1,04,616 | Rs. 75,881 | Rs. 68,732 |
| Rs. 90 lakh | 9.75% p.a. | Rs. 1,17,693 | Rs. 85,367 | Rs. 77,324 |
| Rs. 1 crore | 9.75% p.a. | Rs. 1,30,770 | Rs. 94,852 | Rs. 85,915 |
The figures in the table above are based on a 9.75% p.a. interest rate offered by the DCB Bank. They may vary, however, based on the different interest rates offered by other banks, your monthly income, and other factors.
FAQ's
DCB Bank home loan interest rate 2023 starts at 9.75% per annum. However, it is subject to change, so please refer to the bank’s official website to verify the same.
DCB Bank doesn’t charge any fee for prepayment on floater-based home loans. The bank charges up to 25% of the outstanding principal amount for part fixed plus part floater rate home loans.
DCB Bank might give some concessions on home loan interest rates to the bank employees. So, you are advised to check the same from the bank.
The maximum loan amount offered by the DCB Bank is up to Rs. 5 crores.
DCB Bank charges 4% and 6% of the outstanding loan amount as prepayment charges for foreclosing loans before and after 3 years respectively.
The maximum loan repayment tenure offered on DCB Bank home loans is up to 20 years.
Yes, home loan borrowers can avail of tax benefits on home loans by DCB under Section 80 C of the Income Tax Act for a loan amount of up to Rs. 1.5 lakh against the principal amount and up to Rs. 2 lakh against interest under Section 24(2).
DCB Bank offers two methods of interest rates: floater and fixed rate basis. Interest rates are fixed throughout the tenure for fixed plans, whereas the interest rate may fluctuate for floater rate plans.