Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Dena Bank Mortgage Loan is Rated as "Satisfactory" by 5 Users

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    Dena Bank Mortgage Loan

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    Owning a property in India is akin to owning a goldmine, a place whose value doesn’t diminish regardless of other factors. While owning a property is great, making money on it can be the icing on the cake. Mortgaging a property can give you financial freedom to live your dreams and Dena Bank Mortgage Loan can be a perfect ally when it comes to living this dream. A popular public sector bank with a banking experience of nearly 5 decades, Dena Bank offers a host of products designed to aid you in every step of your financial journey. Their mortgage loan comes with attractive features and benefits, making it a sought after product in the market.

    Purpose of Dena Bank Mortgage Loan

    Dena Bank Mortgage Loan can be used for any legitimate purpose, be it meeting marriage expenses, medical treatment costs, higher education, a vacation or just to upgrade your home appliances. This loan can be used towards meeting any personal financial requirement, provided it is not used in risky ventures.

    Dena Bank Mortgage Loan Eligibility Criteria

    Individuals who wish to obtain a Dena Bank Mortgage Loan need to satisfy a few basic eligibility criteria.

    • Age - An applicant should be at least 21 years old in order to apply for this loan.
    • Employed - An applicant should be employed with a regular source of income. He/she could be a professional/self-employed or an agriculturist.
    • Income Tax Assesse - An applicant should be an income tax assesse for at least 2 years.
    • Income - An applicant should have a minimum net monthly income of Rs 12,000.
    • Property owner - An applicant should own the property in question. This property should be free from legal tangles and could be a residential, commercial or non-agricultural property.

    Documents Required for Dena Bank Mortgage Loan

    Applicants would be required to furnish the following documents in order to avail a Dena Bank mortgage loan.

    • Income proof - A proof of income highlighting the net monthly income of an applicant or his/her spouse.
    • Property documents - Proof of ownership of property being mortgaged.
    • Valid government approved ID card.
    • Bank statement
    • Passport size photographs

    Features and Benefits of Dena Bank Mortgage Loan

    Dena Bank mortgage loans come with a host of features and benefits, a few of which are highlighted below.

    • High loan amount - An applicant can get loans ranging from Rs 2 lakh to Rs 5 crore, depending on the property in question.
    • Competitive interest rate - Dena Bank mortgage loans can be availed at competitive interest rates.
    • Simple documentation - Applying for this loan is simple and hassle free with minimal documentation.
    • Flexible repayment options - The loan can be repaid through flexible EMIs, with a maximum repayment period of 84 months.
    • High margin - Loans up to 50% of the property value can be availed under this scheme.

    Dena Bank Mortgage Loan Interest Rate

    The interest rate charged by Dena Bank on its mortgage loan is one of the lowest in the industry, ensuring that repaying a loan doesn’t become an additional financial burden on a borrower. The interest rate charged towards the mortgage loan depends on the base rate, which currently stands at 9.7% (effective 05/10/2015). The overall interest rate stands at 11.40% per annum (as of November 2015).

    Note - Interest rates charged by Dena Bank are at their sole discretion and are subject to change without any intimation.

    Fees and charges

    Dena Bank charges a processing fee equivalent to 1% of the loan amount. In the event of a borrower wishing to prepay the loan, he/she would be charged a prepayment charge which is 0.50% of the loan amount.

    Dena Bank Mortgage Loan Reviews

    • Dena Bank Personal Loan
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I have approached for my home loan with DENA bank. Their interest rate was between 8-9% which is average in the market but I have taken with HDFC bank so cancelled the request here. The customer service and responses was up the mark. My overall experience was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 01, 2017
    • Dena Bank Personal Loan
      "High rate of interest"
      0.5 3.0/5 "Satisfactory"
      Comparing to other banks rate of interest its too high in DENA bank, I am getting 8.45% rate of interest from other banks from my profile. Service was good, but once they called me and informed me the rate of interest I dropped the plan because I am getting low rate of interest in other markets.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Aug 26, 2017
    • Dena Bank Personal Loan
      "Quick and fast service"
      0.5 5.0/5 "Blown Away!"
      When I choose the car loan through the financial channel, I never expected that the Dena bank will do the process so quick and fast. Immediately I got a call from Dena bank executives. The manager also spoke to me and explained the product in a brief. The documentation process was done in a smoother way, I just visited the branch just to do the signing part alone. Within 2 days of time , the loan got disbursed from Dena bank. The rate of interest is bit high, when compared with others. I am happy about the loan amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 17, 2017
    • Dena Bank Personal Loan
      "Least rate in the market"
      0.5 1.0/5 "Really Bad"
      First of all, the rate of interest offered by Dena bank was very high.They were asking for some surety or some sort of collateral security as the amount is huge. Therefore I switched over to HDFC also, the processing fee charged by DENA bank was 2% of the loan amount.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 12, 2016
    • Dena Bank Personal Loan
      "Best interest ...."
      0.5 1.0/5 "Really Bad"
      Dena bank is too good in terms of charges. They offered lower rate of interest when I compare to other banks. But the thing is they were very slow in terms of response. When I approached them for a personal loan they did not called me on time. They should speedup their process.
      Was this review helpful? 3
      , kolkata
      Reviewed on Jan 27, 2016
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