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    DCB Bank Home Loan Reviews

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    Home Loan BYTES FROM OUR KITCHEN

    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.


     

    You’re probably eligible for an DCB Bank Home Loan if you are

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    DCB Bank Home Loan Minimum Age

    At least 25 years old

    DCB Bank Home Loan Maximum Age

    Less than 65 years old

    DCB Bank Home Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    DCB Bank Home Loan Minimum Income

    Earn more than the minimum
    income required


     

    Your DCB Bank Home Loan amount eligibility is based on these factors

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    DCB Bank Home Loan Minimum Salary

    Earn more than the minimum
    income required

    DCB Bank Home Loan Maximum Loan to property value

    Loan capped @ 90% of property value

    DCB Bank Home Loan EMI

    EMIs of other loans lower
    your eligibility


     

    Increase your eligible DCB Bank Home Loan amount by these steps

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    DCB Bank Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    DCB Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 20 years

    DCB Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


     

    Documentation needed to apply for an DCB Bank Home Loan

    • 1. Signed application form with photograph
    • 2. ID and residence proof
    • 3. Processing fee Cheque
    • 4. Latest bank statements
    • 5. Documentation for salaried applicants:
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
    • 6. Documentation for self-employed applicants:
      • latest income tax returns
      • latest comupation of income

     

    DCB Bank Home Loan Interest RatesUpdated on 29 Sep 2016

    DCB Bank Home Loan Details
    Processing Fees Upto 2% of the loan amount, subject to a minimum of Rs. 5000/-
    Loan Tenure 1 year to 20 years
    Guarantor Requirement Required
    Pre-closure Charges Nil Pre-closure after 12 months from the date of full disbursement

     

    Home Loans from DCB Bank:

    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.

    Types of DCB Home Loan:

    DCB Bank offers two different types of home loans to meet the varied requirements of borrowers.

    • DCB Home Loan:

      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.

    • DCB Micro Home Loan:

      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.

    DCB Bank Home Loan Documentation:

    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:

    • Duly filled application form with self-attested photograph
    • Identity Proof – Passport, Driving licence, Voter ID or Aadhar Card
    • Age Proof – PAN card, passport, Mark sheet with date of birth or birth certificate
    • Residence Proof – Aadhar card, Voter ID, passport or driving licence
    • Salary slip for the latest 3 months
    • Form 16
    • Copy of title documents
    • Bank statement for the last 6 months
    • Processing fee cheque

    For self-employed applicants:

    • Completely filled application form with a self-attested photograph
    • Age Proof – PAN card, passport, birth certificate or Mark sheet with date of birth
    • Residence Proof – Aadhar card, Voter ID, driving licence or passport
    • Identity Proof – Passport, Driving licence, Aadhar card or Voter ID
    • Proof of business existence and for number of years in business
    • Income Tax Returns for 2 years
    • Tax Returns with financial statements
    • Processing fee cheque
    • Copy of title documents
    • Bank statements for the individual and the business for the last 6 months

    DCB Bank Home Loan Interest Rate June 2016:

    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.

    New DCB Bank Home Loan MCLR Rates:

    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
    Overnight 9.82%
    1 Month 9.92%
    3 Months 10.12%
    6 Months 10.32%
    1 Year 10.52%
    2 Years 10.63%
    3 Years 10.83%

    DCB Bank Home Loan EMI Calculator:

    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.

    Features of DCB Bank Home Loan:

    • Assistance at Every Step:

      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.

    • Balance Transfer Option:

      With the balance transfer facility, borrowers can take over their existing home loan to suit their budget and requirement.

    • Quick Approval:

      Minimal documentation requirements and unmatched assistance will ensure that the customer is offered fast approval with the best loan offerings.

    • Insurance Plans:

      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.

    • Minimal Income Documents Requirements:

      DCB Micro Home loans has flexible income documentation scheme for people with informal profession and borrowers from low income groups.

    • Refinancing Facilities:

      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.

    FAQ’s for DCB Bank Home Loans:

    1. What additional charges do I have to pay for DCB Bank Home loan?

      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.

    2. There is no branch of DCB Bank in my city. Will I be able to avail a DCB Bank home loan?

      No, DCB Bank offers home loans only in cities where there is a branch or a retail asset centre.

    3. What is the maximum loan tenure?

      Depending on the age of applicant and property at the time of maturity of loan, DCB Bank offers a maximum tenure of 20 years.

    4. Can I repay my home loan before the end of tenure?

      Yes, you can repay your loan any time after the first 12 months from loan disbursal rate. Flexible part prepayment options are also allowed.

    5. Do I require a guarantor or co-applicant for my home loan? Whom can I nominate as co-applicant or guarantor?

      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.

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