What you'll love
Documents
Perks
Think about
Fees & Charges
Good To Know
Dena Bank is one of the earliest banks in India, headquartered in Mumbai. Dena Bank was founded on 26 May 1938, by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company Ltd. It is one of the nationalised banks of India. You can avail of Dena Niwas Home Loan to purchase a plot, construct a house, buy a ready built house or buy one under construction. The loan even helps you build an extension to your existing house or purchase a house that is up to 50 years old provided the remaining life of the house is more than 25 years.
Mr. Sharma invested in a home with a low-interest loan. What about you?Explore Home Loans
At least 18 years old
Less than 70 years old
Salaried / Self-employed
with regular income
Earn more than the minimum
income required
EMI limited to about 50%
of monthly income
Loan capped @ 80% of property value
EMIs of other loans lower
your eligibility
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 30 years
Alternatively add your parents
- Last 3 months salary-slips
- Form 16 or Income Tax Returns
- Education qualification certificate & proof of business existence
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
| Interest Rate | 8.25% to 8.35% |
| Processing Fees | 0.5% of Loan Amount |
| Loan Tenure | 1 Year to 30 years |
| Pre-closure Charges | Nil |
| Partial pre-payment Charges | Nil |
Tired of haggling with the homeowner and paying the rental advance? If you are dreaming about purchasing your own property, this might just be the right time to do it. With Dena Bank home loans, you need not be worried about the financial factor anymore!
Dena Bank offers loans up to Rs.200 lakhs for the purchase of a plot, purchase of newly constructed house or resale property. Customers can also avail Dena Bank Home Loans for home renovation and extension.
With an array of customer-centric benefits, Dena Bank home loans will duly assist the borrower to purchase a property of his dreams.
Features and Benefits of Dena Bank Home Loan:
The following benefits that come with Dena Bank home loans makes it one of the most popular products in the financial market.
Dena Bank home loan can be used for the purchase of a plot, home construction or purchase of an under construction/readily built house.
Dena Bank offers home loan as high as Rs.200 lakhs for the purchase & construction of a house. Customers can avail up to Rs.10 lakhs for home renovation and up gradation.
Dena Bank has affordable home loan margins as described below.
|
Loans up to Rs.20 lakhs |
10% of the property cost excluding stamp duty charges, registration costs etc |
|---|---|
|
Above Rs.20 lakh and up to Rs.75 lakh |
20% of the property cost excluding stamp duty charges, registration costs etc. |
|
Above Rs.75 lakhs |
25% of the property cost excluding stamp duty charges, registration costs etc. |
Convenient Repayment Tenure:
Dena Bank offers up to 25 years for repayment of loans availed for purchase or construction of a new house and extension. The tenure for loans availed for upgradation, renovation and repairs is up to 10 years.
Owning a house is a smart investment and comes with great tax benefits. Explore Home Loans
Dena Bank offers attractive rate of interest on floating home loans ranging from 8.25% - 8.35%. These interest rates can be availed on all loan tenures up to a maximum of 30 years.
Effective from April 1st 2016, Dena Bank revised its Marginal Cost of Funds Based Lending Rates (MCLR) in accordance with the latest guidelines set by the RBI. The new MCLR rates are applicable on all new loans approved by the bank from w.e.f 1st November 2017 is as under.
The MCLR Rates set by Dena Bank are as follows:
| Loan Tenor | MCLR Rate |
|---|---|
| Overnight | 8.05% |
| 1 Month | 8.05% |
| 3 Months | 8.10% |
| 6 Months | 8.20% |
| 1 Year | 8.25% |
Given below are the eligibility conditions for availing a Dena Bank Home Loan.
Tired of paying rent? Maybe it’s time you got your own abode. Explore Home Loans
The following documents must be submitted by the applicant to complete the loan application process.
Proof of Address and Identity:
Proof of Income:
Miscellaneous Documents:
The documents required may vary depending on the borrower’s type of employment and source of income. Do enquire with Dena Bank for the complete list of documents required before proceeding with the loan application process.
Dena Bank charges a processing fee of 0.50% of the sanctioned limit.
Yes, the security for Dena Bank home loans will be simple equitable mortgage of flat/house for which the loan is availed.
No, you will not incur any prepayment penalty upon foreclosure of home loan.
Yes, you can avail Dena Bank Home Loans to purchase home up to 50 years old.
Yes, the income of spouse or co-applicant can be included to increase the home loan eligibility.
GST Rate of 18% Applicable for All Financial Services Effective July 1, 2017.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar’s partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
Dena Bank has made an announcement in which it said that will be offering an interest rate of 8.25% with their home loans. Early this month, State Bank of India made the announcement of offering cheapest loans to their customers. The rate of interest that they were offering with their home loan was 8.3%.
Dena Bank is offering home loan rates ranging between 8.25% and 9% at the Dena Retail Loan Carnival. The carnival will go on from 16 November, 2017 to 31 December, 2017. According to the bank, this carnival’s objective is to promote both housing loans and vehicle loans. Home loans of up to Rs.75 lakh will be charged at 8.25% by Dena Bank.
15 November 2017
Dena Bank has reduced the rates of interest associated with home loans by 5 basis points. This is applicable for all the loans ranging between Rs.30 lakh and Rs.75 lakh. State Bank of India also lowered the rates of interest for its home loans by 10 basis points. This was done for all the loans that are above Rs.75 lakh. The decrease in the rates of interest follows a risk weight reduction by the Reserve Bank of India. In case of loans up to Rs.75 lakh the interest rate stands at 8.60% per annum. This interest rate is the marginal cost of funds based lending rate. In case of loan amounts, more than Rs.75 lakh, the rate of interest stands at 8.70% or MCLR + 0.10 basis points.
Reserve Bank of India, in the second monetary policy review (by monthly) reduced the loan-to-value ratios, standard asset provision rate and risk weights. The Central Bank brought down the risk weight from 75% to 50% for housing loans that are more than Rs.75 lakh. CREDAI stated that Reserve Bank of India’s decision of lowering the risk weightage on the home loans will surely give a boost to the housing demand and also add to the growth of real estate sector.
16 June, 2017
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Home Loan
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
