DCB Bank Home Loan
DCB Bank is an emerging new-generation private sector bank with over 435 branches PAN-India. The bank is regulated by the RBI and boasts of the latest state of art internet banking and financial offerings such as home loans. DCB home loans start at an ROI of 9.75% per annum. The bank charges a processing fee of up to 2.00% of the loan amount or a minimum of Rs. 5000 for each home loan application. Eligible borrowers can easily get DCB Bank home loans with minimum paperwork. Some popular offerings of the DCB Bank are Home Loans, Micro Home Loans, and DCB Bank Mortgage Loans.
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DCB Bank Home Loans Key Highlights
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| Loan Amount | Up to 5 crores |
|---|---|
| Rate of Interest | Starts at 9.75% per annum |
| RPLR | |
| Processing Fee |
Up to 2.00% of the loan amount (Minimum Rs. 5000) |
| Maximum Tenure for Repayment | 20 years |
| Penal Rate of Interest | |
| Rate Packages | Fixed/Floater |
| Charges for Prepayment/Foreclosure | Floater: Nil - Part Fixed + Part Floater: Nil - 25% of the outstanding principle |
DCB Bank Home Loan Interest Rates in 2024
The DCB home loan interest rates start at 8.25% - 12.72% per annum and may go up depending on the repayment capacity, eligibility, and plan chosen by an applicant. The table below enlists the current DCB Bank home loan interest rate 2024:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Fixed Plans (For Salaried) | Starts at 9.75% per annum |
| Fixed Plans (For Self-Employed) | Starts at 9.75% per annum |
| Floater Plans (For Salaried) | Starts at 9.75% per annum |
| Floater Plans (For Self-Employed) | Starts at 9.75% per annum |
Interest rates were last updated on 1st December 2024
DCB Bank Home Loan Eligibility Criteria
DCB Bank offers home loans at attractive interest rates with minimum eligibility criteria to make it easy for each aspiring homeowner to own a home. Home loans are offered to both Indian Residents and NRIs. However, there has to be a co-applicant, who is an Indian Resident, for an NRI borrower to apply for a DCB home loan. The table below enlists DCB Bank home loan eligibility criteria for your reference:
| Eligibility Parameters | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
| Age Range (in years) | 21 - 65 Years | 21 - 65 Years |
| Nationality | Indian Resident/ NRIs | Indian Resident/ NRIs |
| Minimum Income Earned | Nothing Specific | Nothing Specific |
DCB Bank Home Loan Processing Fee and Charges
To process each home loan application, DCB Bank charges a processing fee of up to 2.00% of the loan amount, or a minimum of Rs. 5000. Besides; the bank also charges other fees to offer the customer a seamless experience in applying and getting home loans. The table below enlists the updated DCB Bank home loan processing fee and charges:
| Processing Fee | Up to 2.00% of the loan amount (Minimum of Rs. 5000) |
|---|---|
| Collection Charges |
|
| Annual Maintenance Charges | Up to 1.00% of the outstanding principle |
| Duplicate NOC or No Objection Certificate | Rs. 100 per instance |
| Statement of Account | Rs. 100 per instance |
| Foreclosure Statement | Rs. 100 per instance |
| Loan Agreement Copy | Rs. 500 per instance |
| Part Pre-Payment/ Full Pre-Payment Charges | Floater: Nil Part Fixed + Part Floater: Nil - 25% of the outstanding principle |
| Cheque Bounce Charges | Rs. 750 per instance |
| Cheque or Instrument Swapping Charges | Rs. 500 per instance |
| Re-Pricing Charges | Up to 1.00% of the outstanding loan amount (Minimum of Rs. 5,000) |
| Penal Interest | 3.00% per month |
| Property Documents Retrieval Charges | Rs. 500 per set |
| Amortization Schedule | Rs. 100 per schedule |
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DCB Bank Home Loan Schemes and Top Plans
DCB Bank offers home loans up to Rs. 5 crores to eligible borrowers, who can be salaried, self-employed, Indian Residents or NRIs. Have a look at the DCB bank home loan schemes:
1. DCB Regular Home Loans
- Ideal for those keen to purchase a home or land, or construct a home on an already-bought land
- Maximum loan amount up to Rs. 5 crores
- Loan-to-Value Ratio of up to 90% of the Property Cost
- Flexible Balance Transfer Facility
- Additional Top-Up loans
2. DCB Micro Home Loans
- Ideal home loan scheme for informal employed segments like traders, small hoteliers, food stall owners, barbers, and so on.
- Minimum loan amount starting from Rs. 1 lakh up to Rs. 15 lakh
- Quick loan approvals with attractive ROI
Note: All of the above home loan plans are made available to applicants solely at the discretion of DCB bank, taking into consideration the earning and repayment capacity of the applicant.
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Documents Required For DCB Bank Home Loan
To approve a home loan to any applicant, any bank or NBFC asks for a set of KYC documents related to identity, address, and income. Shared below is the complete list of DCB Bank home loan documents required for salaried as well as for self-employed borrowers:
Documents Required for Salaried Applicants
- Salary slips for the last 3 months
- Salary account statements for the last 6 months
- ITR for the last 2 years
- Duly filled and signed application form with a passport-size photograph
- A processing fee cheque in favour of DCB Bank
Documents Required for Self-Employed Applicants
- Trade License or Statutory License
- Bank Statements of all business accounts for the last 1 year
- Professional Qualification Proof
- Last 2 GST Returns
- ITR for the last 3 years
- Duly filled and signed application form with a passport-size photograph
- A processing fee cheque in favour of DCB Bank
Common Documents Required from Both Salaried and Self-Employed Applicants
| Type of Document | Documents Required |
|---|---|
| Identity & Address Proof | Voter ID, Driving License, Aadhaar Card, Copy of Passport, PAN Card |
| Documents Related to Property |
|
Find DCB Bank Home Loan Offices Near You
If you are planning to visit one of the offices of DCB Bank Home Loan near you to understand the DCB Bank Home Loan Offer in details and apply for the Home Loan, you can simply fill in the Free Consultation form and the team of BASIC Home Loan will reach out to you for needful assistance in the process.
Interest rates and fees on home loans vary based on eligibility and lender criteria. All applicable fees and charges are subject to relevant taxes and can change at the lender’s discretion. For the most current information on home loan interest rates, processing fees, other applicable charges, and updates on eligibility criteria and loan offers, please visit the official website of the bank.
FAQs
The current ROI for a DCB bank home loan starts at 9.75% per annum. However, we suggest you verify the same from the official bank website.
A CIBIL Score of 700 and above is considered good to get a DCB Bank home loan.
The loan foreclosure charges for a DCB bank home loan are nil for a floater plan and up to 25% of the outstanding principal amount for a part fixed and part floater plan.
The minimum monthly salary for a DCB home loan is Rs. 25,000.
An eligible borrower may fetch a DCB home loan of up to Rs. 5 crores. The minimum loan amount sanctioned by the bank is Rs. 10 lakhs.
It may take 5 to 10 days to get approval for a DCB bank home loan. Try submitting all the required KYC documents and the processing fee to get hassle-free home loan approvals from the bank.
Yes, DCB Bank offers a flexible balance transfer option to existing home loan customers, and it comes with an additional top-up facility.
Yes, it is mandatory to have a co-applicant to process a DCB bank home loan. A close family member like the spouse, parents, or children can be co-applicants or guarantors for the home loans.