Dena Bank which is now a part of Bank of Baroda following the merger offer home loans at an interest rate which starts from 7.25% p.a., with loan tenure of up to 30 years and offers loan amount of up to Rs.10 crore. The lender charges processing fees in the range from as low as 0.50% of the loan amount.
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.
Dena Bank Home Loan Interest Rates 2020>/h2>
Interest Rate
7.25% to 9.05%
Processing Fees
0.5% of Loan Amount
Loan Tenure
1 Year to 30 years
Pre-closure Charges
Nil
Partial pre-payment Charges
Nil
Dena Bank Home Loan
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.10 crore 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.10 crore for the purchase & construction of a house. Customers can avail up to Rs.10 lakhs for home renovation and up gradation.
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.
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 home 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.
Dena Bank Home Loan FAQ
What is the processing fee for Dena Bank home loans?
Dena Bank charges a processing fee of 0.50% of the sanctioned limit.
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.
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.
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.
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.
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I have taken Home loan through Dena Bank since builder referred this Bank .I have got all the required details about the loan process ,I have applied for the loan amount of 15 lakh for the tenure of 15 years ,The rate of interest and the processing fee was quite nominal ,Still the loan is active and the agent gave all the information about the card process .
It was quite good experience with Dena bank for housing loan,The loan amount which they have given to me was sufficient,i have applied for 8,20,000 as an loan amount,it was approved soon,the rate of interest they have charged me up to 13% which was very high ,because of too much interest rate i paid my housing loan within 2 years.
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1
RAJENDER SINGH KANDARI
, new delhi
Reviewed on Apr 01, 2019
It was quite a good experience i had with this loan and the loan amount which they had provided has been sufficient as well. The interest rate with them has been nominal when compared with the market rate and there was no extra charges which they had made so far.
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3
ANIL KUMAR KOMATINENI
, hyderabad
Reviewed on Jan 21, 2019
My home loan application was good with DENA bank, the loan amount was for Rs 32 lakhs with rate of interest of 8.5% which is nominal rate in the market. The process was quick and i received my loan amount within 1 week. Customer service was good and the tenure period for this loan is 17 years.
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5
RAKESH KUNAR MISHRA
, ahmedabad
Reviewed on May 17, 2018
I have my home loan with DENA bank . The loan amount was 12 lakhs and the interest rate was 8% which was very high than other banks in the market . The EMI period was 30 years . The loan process was very easy and good. They have sanctioned the loan with the committed time.
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3
AMIT AJIT NACHANE
, mumbai
Reviewed on Dec 12, 2017
It was a good experience with DENA Bank for my home loan process . Actually at that time the property was decided but not it was finalized so they canceled it . The customer service was good from the bank side . All the required Information was given to me in a proper way .
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1
AVINASH RAMRAO DHAGE
, pune
Reviewed on Nov 28, 2017
I have applied for the home loan from Dena Bank, my loan application was closed because they were charging processing fees, initially they said there is no processing fees. So that is the reason i dropped the plan to get the home loan. Customer service was good and they responded on time, follow up was done correctly. The rate of interest was nominal when compared to other banks.
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1
VADIVEL PRABHAKARAN
, bangalore
Reviewed on Nov 24, 2017
I have approached DENA bank for my home loan. The rate of interest was 8-9% which was satisfactory but I could not proceed with the loan process due to the documents pending. The customer service and responses was up to the mark. I had a very good experience here so Its recommendable also.
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1
RAGHURAMAIAH SANTOSH
, bangalore
Reviewed on Nov 10, 2017
I got the loan from other bank so that was the reason I haven't got the from DENA bank . The rate of interest also high with Dena bank when compared with other banks. The customer support was average with Dena bank. The coordination was missing the immediate response was not given.
The called me properly on a regular interval. Their communication was of top notch. I had changed my plan due to some personal reason, that's the reason I haven't gone with this Bank as of now. Overall experience with them has been good with them.
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1
SUYASH KUMAR YADAV
, delhi
Reviewed on Nov 02, 2017
My home loan was very hassle free, Dena bank have collected KYC documents and property documents and disbursed the amount within a week. Dena Bank have sanctioned th amount of Rs. 35 lakhs in that Rs.4.97 lakhs got disbursed total tenure would be 30 years.
I got some issue with my documentation part they said my documents were not applicable for processing the loan ,representatives and customer service is helpful ,I can say their service is very good ,I never had any issue with the service of DENA bank.
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1
PIYUSH RAJ JAIN
, new delhi
Reviewed on Oct 07, 2017
I have approached DENA bank for my home loan . The rate of interest was 8.35% which is very good so I would like to recommend to others. They have rejected my application since I had an issue with my property. My overall experience was good and The customer service was also good.
Service with DENA Bank is very good. They responded on time. I had some issues on my new flat so I have requested for some time to get things sorted. They didn't give me any figure for the rate of interest, executive said after applying for a loan only they can calculate and let me know.
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4
PRIYADARSHI MISHRA
, bangalore
Reviewed on Oct 06, 2017
Service is very good from DENA bank for my home loan service ,also the rate of interest they offer was also comfortable and low compare to others in the market . Representatives was also very helpful and responsible and helped me during the documentation ,overall I can say it was a excellent service.
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0
RAHUL KUMAR JHA
, new delhi
Reviewed on Oct 05, 2017
I have applied for home loan from Dena Bank, My loan application got closed because the customer service was not good, they were not polite when they called me. Actually I stay in a company provided house. I was planning to buy a new house so i applied for home loan. I was not satisfied with the customer service but I am satisfied with rate of interest which is 8.55% per annum.
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0
MOHAMMED ANWARUDDIN QURESHI
, hyderabad
Reviewed on Oct 05, 2017
I have my home loan with DENA bank. Their customer service and responses was very good but I have postponed the plan and cancelled the request. My overall experience was good and I have no idea about the rate of interest so I cant rate them on it.
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0
HEMANT KUMAR SINGH
, mumbai
Reviewed on Oct 05, 2017
I have my home loan with DENA BANK. I have no Idea about the rate of interest because I have cancelled my application due to my personal reason. The customer service and responses was up to the mark My overall experience was good so I would like to recommend to others also.
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0
SUNIL RAMNATH PANSARE
, mumbai
Reviewed on Oct 04, 2017
Due to my personal reasons I did not go ahead with Dena Bank for the home loan actually I am planning to take the business loan. The bank was quick in response and they informed me all the details. If I had an idea of taking the home loan it would have been near by 30 lakhs
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1
KESHUBHAI LAKHAMANBHAI DASA
, ahmedabad
Reviewed on Oct 04, 2017
Dena Bank has been very responsive after I registered my details for a home loan. The customer services has been really good and supportive. I could not go ahead for the loan as I postponed my plans for some months I have not finalized the property yet. They also had a good deal on the interest rate and charges
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1
AJAY MANDHANIYA
, bangalore
Reviewed on Sep 29, 2017
