DCB Bank is private sector scheduled commercial bank in India. It offers products to individuals, small and medium businesses, rural banking and corporates in selective regions. DCB Bank has contemporary technology and infrastructure including state of the art internet banking for personal as well as business banking customers. DCB Bank’s business segments are Retail, micro-SMEs, SMEs, mid-Corporate, Agriculture, Commodities, Government, Public Sector, Indian Banks, Co-operative Banks and Non Banking Finance Companies (NBFC). DCB Bank has approximately 450,000 customers.DCB Home Loans are available for individuals (salaried / businessmen), partnership firms and private limited companies.Read on to learn about the eligibility and documentation requirements for the loan you avail.
At least 25 years old
Less than 65 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Earn more than the minimum
Loan capped @ 90% of property value
EMIs of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 20 years
Alternatively add your parents
|Interest rate||10.48% to 18.00%|
|Processing Fees||Upto 2% of the loan amount, subject to a minimum of Rs. 5000/-|
|Loan Tenure||1 year to 20 years|
|Pre-closure Charges||Nil Pre-closure after 12 months from the date of full disbursement|
DCB Bank was established in the year 1930. Currently, the bank has a nationwide presence with a network of 153 branches in over 17 states. DCB Bank offers an array of innovative financial products like loans and deposits for individuals, agriculturalists and corporates.
DCB Bank home loans can be availed for the purchase of a new house or self-construction and also to purchase of a land and construct a house. DCB Bank offers loan up to 90% of the property’s market value with the loan quantum ranging from Rs.10 lakh to Rs.5 crores. To offer more flexibility to the customers, the bank offers home loans at fixed as well as floating interest rates.
DCB Bank offers two different types of home loans to meet the varied requirements of borrowers.
DCB Bank offers loans up to 90% the market value of your property for purposes like purchase & self-construction or purchase of a new house. High loan quantum in the range of Rs.10 lakhs to Rs.5 crores will ensure that you buy your dream home without any hassles.
Specially created for borrowers in the low income group, DCB Micro home loan will cater to the requirements of individuals with no formal income documentation. Loans up to Rs.15 lakhs and to a maximum of 90% of property cost will be offered under this scheme. Borrowers also get to apply for a zero balance savings account with micro home loan that will help them manage their finances better.
The documents required vary depending on the applicant’s source of income and employment type. Here’s a list of documents that will be asked for during the application process.
For Salaried Applicants:
For self-employed applicants:
The Development Credit Bank (DCB) currently offers its customers the lowest interest rates on its home loans in over 20 years. At present customers can avail of interest rates ranging from a minimum of 10.7% to a maximum of 11.35% on a floating rate basis. These rates are applicable on DCB Bank home loans of all tenures up to a maximum of 20 years.
Coming into effect on the 1st of April 2016, DCB Bank has published the following MCLR rates, which will be applicable on all rupee loans that are approved or sanctioned by the bank. The new MCLR rates also apply to any credit limits that have been renewed post April 1st 2016.
The MCLR rates set by DCB Bank for different tenors are as follows:
|Loan Tenor||MCLR Rate|
To ensure that you are not going overboard with the home loan, you must make use of an online home loan EMI calculator before applying for a loan. Also, using an EMI calculator to judge your affordability will help you select a house that suits your budget. In a home loan EMI calculator, you will be prompted to enter the loan amount, interest rates, loan tenure and processing charges if any. In an instant, the calculator will project the amortization details which will also help you find your monthly EMI. You can keep varying the loan amount and tenure till you arrive at a comfortable EMI. You can make use of the BankBazaar home loan EMI calculator to get a detailed report on amortization schedule.
DCB Bank’s dedicated relationship officers will guide you through every stage of the home loan disbursal process and also duly assist you with your queries to make sure that you are fully satisfied.
With the balance transfer facility, borrowers can take over their existing home loan to suit their budget and requirement.
Minimal documentation requirements and unmatched assistance will ensure that the customer is offered fast approval with the best loan offerings.
Customers can also avail DCB Bank’s insurance schemes which are offered at reasonable premium to cover the loan amount in case of critical illness or death.
DCB Micro Home loans has flexible income documentation scheme for people with informal profession and borrowers from low income groups.
DCB Bank also offers refinancing options for home loans if you have purchased the property with your own money or if you have borrowed funds from relatives and friends.
You will have to pay additional charges in form of stamp duty/intimation of mortgage. This is to be paid to the Government according to the LOR basis of the respective state’s stamp duty grid.
No, DCB Bank offers home loans only in cities where there is a branch or a retail asset centre.
Depending on the age of applicant and property at the time of maturity of loan, DCB Bank offers a maximum tenure of 20 years.
Yes, you can repay your loan any time after the first 12 months from loan disbursal rate. Flexible part prepayment options are also allowed.
Yes, you require either a co-applicant or guarantor for the loan processing. You can nominate your spouse, parents and children for the same. If the property has joint owners, all the owners must stand as co-applicants.
DCB Bank home loans, with features like in-principle sanction, flexible tenures and affordable interest rates, will make sure that all your home loan requirements are met. Buying a home is a one-time investment, make the whole process delightful and hassle-free with DCB Bank home loans.
DCB Bank has always reached out to unbanked rural areas in the country with their financial inclusion initiatives. Around one-fourth of the bank’s new branches are in such pockets. The bank also conducts programmes for financial literacy and offers a variety of loans in these catchment areas. These regions mostly benefit from small housing and business loans and micro-finance loans.
Narendranath Mishra, Head of Agri and Inclusive Banking, said that the bank offers various products to farmers for agricultural purposes, such as loans for farm equipment, loans for hi-tech agriculture and kissan credit cards at affordable rates. He also mentioned that farmers should be sensitised about alternative crops and crop insurance. The Pradhan Mantri Crop Insurance Scheme is one that will greatly benefit farmers.
Mishra stated that the bank offers customised loans that can be repayed based on cropping pattern, either annually, half-yearly or monthly. He also said that the favourable monsoons this year will spur the demand for agricultural loans, in comparison to last year.
13th October 2016