A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    Dena Bank Home Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.45% - 9.7% Floating
    0.5%
    2Crs Max
    1-25 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good To Know
    Eligibility Criteria
    11.25% - 11.75% Fixed
    0.5%
    2Crs Max
    1-25 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good To Know
    Eligibility Criteria

    Dena Bank Home Loan is Rated as "Great!" by 14 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    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.


     

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

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    Dena Bank Home Loan Minimum Age

    At least 18 years old

     Dena Bank Home Loan Maximum Age

    Less than 70 years old

    Dena Bank Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Dena Bank Home Loan Minimum Income

    Earn more than the minimum
    income required


     

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

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    Dena Bank Home Loan Minimum Salary

    EMI limited to about 50%
    of monthly income

    Dena Bank Home Loan Maximum Loan to property value

    Loan capped @ 80% of property value

    Dena Bank Home Loan EMI

    EMIs of other loans lower
    your eligibility


     

    Increase your eligible Dena Bank Home Loan amount by these steps

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    Dena Bank Home Loan Add Spouse as Co-applicant

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

    Dena Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 25 years

    Dena Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


     

    Documentation needed to apply for an Dena Bank Home Loan

    • 1. Signed application form with photograph
    • 2. ID and residence proof
    • 3. Processing fee cheque
    • 4. Last 6 months bank statements
    • 5. Documentation for salaried applicants:

      - Last 3 months salary-slips

      - Form 16 or Income Tax Returns

    • 6. Documentation for self-employed applicants:

      - 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


     

    Dena Bank Home Loan Interest RatesUpdated on 01 Oct 2016

    Dena Bank Home Loan Details
    Interest Rate 9.45% to 9.7% (Floating)
    11.25% - 11.75% (Fixed)
    Processing Fees 0.5% of Loan Amount
    Loan Tenure 1 Year to 25 years
    Pre-closure Charges Nil, however 2% of sanctioned Loan for take oevr by other FI/Banks to be charged
    Partial pre-payment Charges Nil
    Guarantor Requirement No Guarantor Required

     

    Overview:

    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.

    • Multipurpose Loan:

      Dena Bank home loan can be used for the purchase of a plot, home construction or purchase of an under construction/readily built house.

    • High Loan Quantum:

      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.

    • Margin:

      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.

    Dena Bank Home Loan Interest Rate:

    Dena Bank offers attractive rates of interest on both floating as well as fixed rate home loans. These interest rates can be availed on all loan tenures up to a maximum of 25 years.

    The home loan interest rates offered by Dena Bank for floating rate home loans are as follows:

    Loan Amount Rate of Interest
    Upto Rs 75 Lakhs 9.60%
    More Than Rs 75 Lakhs 9.85%

    The home loan interest rates offered by Dena Bank for fixed rate home loans are as follows:

    Loan Amount Rate of Interest (Fixed)
    Upto Rs 25 Lakhs 11.25%
    Rs 25 Lakhs to Rs 30 Lakhs 11.25%
    More Than Rs 30 Lakhs 11.75%

    Dena Bank MCLR Rates for Home Loans:

    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 April 1st 2016.

    The MCLR Rates set by Dena Bank are as follows:

    Loan Tenor MCLR Rate
    Overnight 9.30%
    1 Month 9.40%
    3 Months 9.45%
    6 Months 9.50%
    1 Year 9.60%

    Eligibility: Who can apply for Dena Bank Home Loan?

    Given below are the eligibility conditions for availing a Dena Bank Home Loan.

    • The applicant must be a Indian resident or non-resident and above 18 years of age.
    • The applicant must have a regular source of income.
    • Upon maturity of the loan, the applicants’ age must be less than the age of retirement if he is salaried and below 65 years if the applicant is self-employed.
    • The total deductions of the loan EMI (including that of the proposed loan) should not exceed 60% of the gross income.

    Documentation for Dena Bank Home Loan:

    The following documents must be submitted by the applicant to complete the loan application process.

    Proof of Address and Identity:

    • Valid driving license
    • PAN card
    • Voter ID
    • Passport
    • Aadhaar Card

    Proof of Income:

    • PAN Card
    • Salary slips for the last 3 months
    • Bank statements for the last 6 months
    • Latest IT Returns and Form 16

    Miscellaneous Documents:

    • Employment contract or appointment letter
    • In case of any ongoing loans, last 6 months bank statements showing repayment
    • Duly filled application form with photographs and signature of all applicants
    • Copy of payment receipts from developer
    • Copy of buyer’s agreement and allotment letter as applicable.

    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.

    How to Apply for Dena Bank Home Loans on BankBazaar.com?

    You can apply for Dena Bank Home Loans on BankBazaar right from the comfort of your home. Just follow the easy steps detailed below to apply for a Dena Bank Home Loan through BankBazaar.

    • In the homepage of BankBazaar.com, select “Home Loans” under the “Loans” option on the top pane.
    • You will be directed to page where you can get custom quote or an instant quote. You can also read all there is about Home Loans using the “Hungry for More?” option.
    • Select “Get a quote” option to receive an instant home loan quote. All you have to do is answer an easy questionnaire about details of your property, your employment type, property cost and your age.
    • A list of all home loans for which you are eligible for will be displayed. Choose “Dena Bank Home Loans”. To apply, you have to fill in a preliminary application form and provide your contact details.
    • The application will be forwarded to Dena Bank for further processing. A representative from Dena Bank will contact you regarding the same, Also, you have the option to check the status of your application through SMS and email notifications.

    FAQs:

    1. What is the processing fee for Dena Bank home loans?

      Dena Bank charges a processing fee of 0.50% of the sanctioned limit.

    2. Do I have to produce any security for Dena Bank Home Loans?

      Yes, the security for Dena Bank home loans will be simple equitable mortgage of flat/house for which the loan is availed.

    3. Will I incur any prepayment charges if I decide to foreclose my loan?

      No, you will not incur any prepayment penalty upon foreclosure of home loan.

    4. Can I avail Dena Bank home loan to purchase a 10 year old property?

      Yes, you can avail Dena Bank Home Loans to purchase home up to 50 years old.

    5. Can I include my spouse’s income to increase the eligibility?

      Yes, the income of spouse or co-applicant can be included to increase the home loan eligibility.

    Dena Bank Home Loan Reviews

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