About Dena Bank Home Loan
Dena Bank offers home loan to customers who want to buy a new property. The bank offers the loan for renovation/repair & maintenance/extension of the property. The maximum tenure of the loan amount is up to 25 years. You borrow the loan for the under-construction property as well as ready-to-move-in flat. For under-construction property, you need to submit the details of the builder and an approved plan to the bank. If the property is not approved, the bank will not lend you the loan. Let’s take a look at some important points and details of the loan to get more information.
Dena Bank Home Loan Details:
| Basis | Details |
|---|---|
| Home Loan Interest Rate | 8.50% - 10.60% |
| Loan Amount | INR 10 lakh - INR 200 lakh |
| Tenure | 25 Years |
| Processing Fee | 0.50% of the loan amount |
Dena Bank Home Loan Eligibility
- You should be a major individual having regular income
- A resident or non-resident Indian
- You should not be more than the retirement age in case of salaried and not more than 65 years if you are self-employed/professional
- The total income should not exceed 60% of your gross income, including the loan installment of the proposed loan.
How to apply for Dena Bank home loan?
You can apply for home loan by either visiting the website or going to the nearest branch of Dena Bank. You need to fill and submit the application form in both the cases. Subsequent to the submission, the bank will apppoint an executive to visit your property and make a technical and legal report with respect to the same. Based on the report, the valuation amount will be set by Dena Bank. You can get finance upto 80% of the property value from Dena Bank.
Maximum Loan Amount
- You can avail maximum upto Rs. 200 lakhs for purchase of property
- You can avail maximum upto Rs. 10 lakhs for renovation/upgradation work
Dena Bank Home Loan Interest Rates
| Particulars | Rate of interest |
|---|---|
| For Salaried | 8.50% - 10.50% |
| For Non-Salaried | 8.55% - 10.60% |
Dena Bank Home Loan Tenure
The maximum tenure for which you can avail the home loan is 25 years for buying the new property or under-construction property. But if you are availing the loan for renovation or upgradation the maximum tenure is upto 10 years.
Dena Bank Home Loan EMI Calculator
If you are interested in availing a home loan of Rs. 30,00,000 from Dena Bank for 20 years at the rate of 9.55% per annum than your EMI will be as follows.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| Loan Amount | Interest Rate | Tenure | Monthly Instalment | Total Interest Amount | Total Amount |
|---|---|---|---|---|---|
| ₹ 30,00,000 | 9.55% | 1 | ₹ 2,63,120 | ₹ 1,57,442 | ₹ 31,57,442 |
| ₹ 30,00,000 | 9.55% | 2 | ₹ 1,37,813 | ₹ 3,07,500 | ₹ 33,07,500 |
| ₹ 30,00,000 | 9.55% | 3 | ₹ 96,169 | ₹ 4,62,083 | ₹ 34,62,083 |
| ₹ 30,00,000 | 9.55% | 4 | ₹ 75,441 | ₹ 6,21,171 | ₹ 36,21,171 |
| ₹ 30,00,000 | 9.55% | 5 | ₹ 63,079 | ₹ 7,84,735 | ₹ 37,84,735 |
| ₹ 30,00,000 | 9.55% | 6 | ₹ 54,899 | ₹ 9,52,739 | ₹ 39,52,739 |
| ₹ 30,00,000 | 9.55% | 7 | ₹ 49,109 | ₹ 11,25,139 | ₹ 41,25,139 |
| ₹ 30,00,000 | 9.55% | 8 | ₹ 44,811 | ₹ 13,01,884 | ₹ 43,01,884 |
| ₹ 30,00,000 | 9.55% | 9 | ₹ 41,508 | ₹ 14,82,917 | ₹ 44,82,917 |
| ₹ 30,00,000 | 9.55% | 10 | ₹ 38,901 | ₹ 16,68,173 | ₹ 46,68,173 |
| ₹ 30,00,000 | 9.55% | 11 | ₹ 36,800 | ₹ 18,57,580 | ₹ 48,57,580 |
| ₹ 30,00,000 | 9.55% | 12 | ₹ 35,077 | ₹ 20,51,063 | ₹ 50,51,063 |
| ₹ 30,00,000 | 9.55% | 13 | ₹ 33,644 | ₹ 22,48,539 | ₹ 52,48,539 |
| ₹ 30,00,000 | 9.55% | 14 | ₹ 32,440 | ₹ 24,49,920 | ₹ 54,49,920 |
| ₹ 30,00,000 | 9.55% | 15 | ₹ 31,417 | ₹ 26,55,117 | ₹ 56,55,117 |
| ₹ 30,00,000 | 9.55% | 16 | ₹ 30,542 | ₹ 28,64,033 | ₹ 58,64,033 |
| ₹ 30,00,000 | 9.55% | 17 | ₹ 29,787 | ₹ 30,76,569 | ₹ 60,76,569 |
| ₹ 30,00,000 | 9.55% | 18 | ₹ 29,133 | ₹ 32,92,624 | ₹ 62,92,624 |
| ₹ 30,00,000 | 9.55% | 19 | ₹ 28,562 | ₹ 35,12,093 | ₹ 65,12,093 |
| ₹ 30,00,000 | 9.55% | 20 | ₹ 28,062 | ₹ 37,34,871 | ₹ 67,34,871 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| Year | Principal | Interest | Balance Amount |
|---|---|---|---|
| 1 | ₹ 52,502 | ₹ 2,84,241 | ₹ 29,47,497 |
| 2 | ₹ 57,741 | ₹ 2,79,002 | ₹ 28,89,756 |
| 3 | ₹ 63,503 | ₹ 2,73,240 | ₹ 28,26,252 |
| 4 | ₹ 69,840 | ₹ 2,66,903 | ₹ 27,56,411 |
| 5 | ₹ 76,810 | ₹ 2,59,933 | ₹ 26,79,601 |
| 6 | ₹ 84,475 | ₹ 2,52,268 | ₹ 25,95,125 |
| 7 | ₹ 92,905 | ₹ 2,43,838 | ₹ 25,02,219 |
| 8 | ₹ 1,02,177 | ₹ 2,34,566 | ₹ 24,00,042 |
| 9 | ₹ 1,12,373 | ₹ 2,24,370 | ₹ 22,87,669 |
| 10 | ₹ 1,23,587 | ₹ 2,13,156 | ₹ 21,64,081 |
| 11 | ₹ 1,35,920 | ₹ 2,00,823 | ₹ 20,28,160 |
| 12 | ₹ 1,49,484 | ₹ 1,87,259 | ₹ 18,78,675 |
| 13 | ₹ 1,64,402 | ₹ 1,72,341 | ₹ 17,14,273 |
| 14 | ₹ 1,80,808 | ₹ 1,55,935 | ₹ 15,33,464 |
| 15 | ₹ 1,98,852 | ₹ 1,37,891 | ₹ 13,34,612 |
| 16 | ₹ 2,18,696 | ₹ 1,18,047 | ₹ 11,15,916 |
| 17 | ₹ 2,40,520 | ₹ 96,223 | ₹ 8,75,395 |
| 18 | ₹ 2,64,522 | ₹ 72,221 | ₹ 6,10,872 |
| 19 | ₹ 2,90,920 | ₹ 45,823 | ₹ 3,19,952 |
| 20 | ₹ 3,20,173 | ₹ 16,791 | ₹ 0 |
Dena Bank Home Loan Documents Required
| For Salaried | For Self Employed |
|---|---|
| Signed application form with photograph | Signed application form with photograph |
| ID and residence proof | ID and residence proof |
| Processing fee cheque | Processing fee cheque |
| Last 6 months bank statements | Last 6 months bank statements |
| Last 3 months salary-slips | Education qualification certificate & proof of business existence |
| Form 16 or Income Tax Returns | Last 3 years Income Tax Returns with computation of Income |
| Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account |
Factors affecting Dena Bank home loan amount eligibility
- Monthly Income
- Savings
- Age
- Property Value
- Property Type
- Credit History
- Employment Status for Salaried
- Longevity in the business for self-employed
- Category of your employer
Dena Bank Home Loan Application Form
In order to avail the home loan from Dena Bank, firstly you need to fulfill the application form provided by the bank. Filling an application form is the first step to getting the home loan from any lender. The best thing is that you can either fill in this form online or visit your nearest branch for the same. Through these two ways, you can easily fill in the form and apply for a home loan in Dena Bank.
Dena Bank Home Loan Online Apply
When it comes to applying for Dena Bank home loan, the process is quite easy and fast. Yes, with the reliable services, offered by the bank, you can easily apply online or visit the branch near you. The process of applying for home loan at this bank is quite easy and simple. You just need to know your eligibility and then you just need to click on the apply online to proceed your loan application further. By doing you, an online form will arrive on your screen, you need to fill your personal details followed by income and loan requirement details. After you click on submit, within few seconds, your online loan application will reach to the bank.