Dhanlaxmi Bank Home Loan
Last Updated : April 28, 2017, 12:57 p.m.
About Dhanlaxmi Bank Home Loan
So, you have chosen a house to buy and stay with your family there, right. Now, you are shopping for the best home loan offer that can lead you to a comfortable, yet pocket-friendly purchase of the property. In your search for a right lender, you can also glance at Dhanlaxmi Bank that offers a home loan or property loan for the purchase, construction, refurbishment of a flat or home. You can also get a loan to purchase a plot to construct a house on the same. Read the article further to get an insight of how fruitful Dhanlaxmi Bank Home Loan can be in your case.
Dhanlaxmi Bank Home Loan Interest Rates & Other Details
| Particulars | Description |
|---|---|
| Interest Rate | 9.90% - 12.90% p.a. |
| Loan Amount | Upto Rs. 2.5 Cr, Rs. 50 Lac for Plot Purchase |
| Loan Tenure | 3-20 Years |
| Processing Fee | 1% of the loan amount +service tax Minimum- Rs. 10,000+S.T. |
| Pre-closure Charges | NIL |
| Security | Mortgage of the property to be financed |
Quantum of Finance
The quantum of home loan at Dhanlaxmi Bank is dependent on the income, property value and other factors. You can look below to know the maximum extent for a home loan at varied situations.
- 85% of the cost of construction or property value for new dwelling units
- 70% of the purchase price in case of plot buying
- 75% of cost incurred on the repair of existing dwelling units
- Salaried professionals can get a maximum home loan of upto 60 times of the net monthly salary
- Self-employed class can receive a loan amount equivalent to 5 times of the net annual income as per the income tax return (ITR)
Dhanlaxmi Bank Home Loan Eligibility Criteria
| Parameters | Salaried Professionals | Self-employed |
|---|---|---|
| Age | 21-60 Years | 21-60 Years |
| Income | Minimum net monthly income of Rs. 6,000, with a year of service must be there after the expiry of eligible loan period | Minimum annual income of over Rs. 1.2 lakh |
Dhanlaxmi Bank Home Loan Eligibility Calculator
Don’t you think it is vital to know the loan amount that you can get to buy a home? I am sure, you will answer in affirmative. An easy way to know the same is by using Dhanlaxmi Bank Home Loan Eligibility Calculator , which performs various tasks to calculate the eligible amount of loan. First, it calculates per lac EMI based on the maximum loan tenure and interest rate. Without any ado, let’s calculate.
Amount- Rs. 1 Lac
Interest Rate- 10.35% p.a.
Loan Tenure-20 Years
Per Lac EMI- Rs. 988
Now comes the task of ascertaining the eligible loan amount, which the calculator does by analyzing the income and savings of the borrower. If you are earning a salary of Rs. 47,000 and you save upto Rs. 23,000, then the loan amount eligibility will be-
Rs. 1,00,000 x savings/per lac EMI
Rs. 1,00,000 x 23,000/988= Rs. 23 lacs
Thus, the expected loan amount is Rs. 23 lacs
Dhanlaxmi Bank Home Loan EMI Calculator
All set to rest your hand on the shoulder of Dhanlaxmi Bank for your home loan? Stop a bit, calculate the EMI before running all the way to the bank to file your home loan application. Use Dhanlaxmi Bank Home Loan EMI Calculator to calculate not only EMI, but also interest and overall payment. Suppose you wish to buy a home on a 20-year home loan of Rs. 20 lacs. The EMI, interest and overall outgo will range upto Rs. 21,301-24,798, Rs. 31,12,249-39,51,477 and Rs. 51,12,249-59,51,477, respectively, over the loan tenure. Below is the table below indicating the payouts at different periods of the home loan.
Table Showing EMI, Interest and Total Outgo on a Loan of Rs. 20 Lacs at Different Periods
| Loan Amount (In Rs.) | Tenure (In Years) | Interest Rate (In %p.a.) | EMI (In Rs.) | Interest (In Rs.) | Total Outgo (Principal+Interest) (In Rs.) |
|---|---|---|---|---|---|
| 20,00,000 | 1 | 11.48- 13.95 | 1,77,211-1,79,527 | 1,26,537-1,54,326 | 21,26,537-21,54,326 |
| 20,00,000 | 2 | 11.48- 13.95 | 93,662-95,979 | 2,47,888-3,03,485 | 22,47,888-23,03,485 |
| 20,00,000 | 3 | 11.48- 13.95 | 65,933-68,307 | 3,73,588-4,59,041 | 23,73,588-24,59,041 |
| 20,00,000 | 4 | 11.48- 13.95 | 52,158-54,603 | 5,03,607-6,20,935 | 25,03,607-26,20,935 |
| 20,00,000 | 5 | 11.48- 13.95 | 43,965-46,485 | 6,37,908-7,89,080 | 26,37,908-27,89,080 |
| 20,00,000 | 6 | 11.48- 13.95 | 38,562-41,158 | 7,76,440-9,63,372 | 27,76,440-29,63,372 |
| 20,00,000 | 7 | 11.48- 13.95 | 34,752-37,425 | 9,19,144-11,43,683 | 29,19,144-31,43,683 |
| 20,00,000 | 8 | 11.48- 13.95 | 31,937-34,686 | 10,65,950-13,29,867 | 30,65,950-33,29,867 |
| 20,00,000 | 9 | 11.48- 13.95 | 29,785-32,609 | 12,16,779-15,21,760 | 32,16,779-35,21,760 |
| 20,00,000 | 10 | 11.48- 13.95 | 28,096-30,993 | 13,71,545-17,19,183 | 33,71,545-37,19,183 |
| 20,00,000 | 11 | 11.48- 13.95 | 26,744-29,712 | 15,30,154-19,21,944 | 35,30,154-39,21,944 |
| 20,00,000 | 12 | 11.48- 13.95 | 25,642-28,679 | 16,92,504-21,29,839 | 36,92,504-41,29,839 |
| 20,00,000 | 13 | 11.48- 13.95 | 24,734-27,838 | 18,58,489-23,42,658 | 38,58,489-43,42,658 |
| 20,00,000 | 14 | 11.48- 13.95 | 23,976-27,144 | 20,27,995-25,60,180 | 40,27,995-45,60,180 |
| 20,00,000 | 15 | 11.48- 13.95 | 23,338-26,568 | 22,00,907-27,82,182 | 42,00,907-47,82,182 |
| 20,00,000 | 16 | 11.48- 13.95 | 22,797-26,086 | 23,77,104-30,08,437 | 43,77,104-50,08,437 |
| 20,00,000 | 17 | 11.48- 13.95 | 22,336-25,680 | 25,56,462-32,38,720 | 45,56,462-52,38,720 |
| 20,00,000 | 18 | 11.48- 13.95 | 21,939-25,337 | 27,38,856-34,72,802 | 47,38,856-54,72,802 |
| 20,00,000 | 19 | 11.48- 13.95 | 21,597-25,046 | 29,24,161-37,10,461 | 49,24,161-57,10,461 |
| 20,00,000 | 20 | 11.48- 13.95 | 21,301-24,798 | 31,12,249-39,51,477 | 51,12,249-59,51,477 |
Amortization Table
| Year | Principal (In Rs.) | Interest (In Rs.) | Balance Outstanding (In Rs.) |
|---|---|---|---|
| 1 | 27,424 | 2,28,188 | 19,72,576 |
| 2 | 30,742 | 2,24,870 | 19,41,834 |
| 3 | 34,465 | 2,21,147 | 19,07,369 |
| 4 | 38,637 | 2,16,975 | 18,68,732 |
| 5 | 43,311 | 2,12,301 | 18,25,421 |
| 6 | 48,557 | 2,07,055 | 17,76,864 |
| 7 | 54,431 | 2,01,181 | 17,22,433 |
| 8 | 61,022 | 1,94,590 | 16,61,411 |
| 9 | 68,409 | 1,87,203 | 15,93,002 |
| 10 | 76,689 | 1,78,923 | 15,16,313 |
| 11 | 85,970 | 1,69,642 | 14,30,343 |
| 12 | 96,373 | 1,59,239 | 13,33,970 |
| 13 | 1,08,039 | 1,47,573 | 12,25,931 |
| 14 | 121118 | 1,34,494 | 11,04,813 |
| 15 | 1,35,778 | 1,19,834 | 9,69,035 |
| 16 | 1,52,212 | 1,03,400 | 8,16,823 |
| 17 | 1,70,634 | 84,978 | 6,46,189 |
| 18 | 1,91,286 | 64,326 | 4,54,903 |
| 19 | 2,14,440 | 41,172 | 2,40,463 |
| 20 | 2,40,665 | 15,216 | 0 |
Dhanalakshmi Bank Home Loan Review
Checking the review of the bank’s home loan is vital as it gives you the true picture of the offer. You can check the review of Dhanlaxmi Bank home loan online or ask any of your friends or relatives who have taken the loan from the lending institution. Read the review carefully and don’t get too influenced by one or two reviews as it won’t depict the actual scenario. Experiences can be good for some and bad for some. But you should look at what the majority of the people are talking about Dhanlaxmi Bank Home Loan before taking a call.
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