Deutsche Bank Loan Against Property
Last Updated : Nov. 18, 2016, 9:42 a.m.
One of the leading banks in India, Deutsche Bank offers loan against your residential or commercial property. You can use your own property and fulfill all your desires like higher education, paying off old debts, starting a new business, higher education or abroad travelling, etc. The bank offers the mortgage loan at floating rate of interest ranging from 11.75% to 13.00% p.a for tenure period of up to 15 years.
Here you will know all the details about Deutsche Bank loan against property.
Deutsche Bank Loan Against Property Details
| Particulars | Details |
|---|---|
| Interest rate | 11.75% to 13% per annum |
| Loan Amount | Up to Rs. 10 Crores |
| Tenure | Up to 15 years |
| Processing fee | Up to 2% of the loan amount |
| Prepayment charges | NIL |
How to Apply
To apply for a loan against property at Deutsche bank, you have to submit above mentioned documents as per the eligibility and submit it to the nearest bank branch.
Loan Against Property EMI Calculator
To know the total interest outgo, total amount, EMIs at the rate of interest ranging from 11.75% to 13% for the tenure period of 15 years, refer to the table given:
Table for EMI per month, Total Interest Outgo, and Total Amount
| Amount (in Rs.) | Interest Rate (p.a) | Loan Tenure (in years) | EMI (in Rs.) | Total Interest Outgo (in Rs.) | Total Amount (Principal + Interest) (in Rs.) |
|---|---|---|---|---|---|
| 10,00,00,000 | 11.75% 13% | 1 | 88,73,188-89,31,728 | 64,78,255-71,80,731 | 10,64,78,255-10,71,80,731 |
| 10,00,00,000 | 11.75% 13% | 2 | 46,95,681-47,54,182 | 1,26,96,341-1,41,00,374 | 11,26,96,341-11,41,00,374 |
| 10,00,00,000 | 11.75% 13% | 3 | 33,09,503-33,69,395 | 1,91,42,113-2,12,98,227 | 11,91,42,113-2,12,98,227 |
| 10,00,00,000 | 11.75% 13% | 4 | 26,21,125-26,82,750 | 2,58,14,023-2,87,71,980 | 12,58,14,023-12,87,71,980 |
| 10,00,00,000 | 11.75% 13% | 5 | 22,11,832-22,75,307 | 3,27,09,925-3,65,18,438 | 13,27,09,925-13,65,18,438 |
| 10,00,00,000 | 11.75% 13% | 6 | 19,42,043 -20,07,411 | 3,98,27,096-4,45,33,557 | 13,98,27,096-14,45,33,557 |
| 10,00,00,000 | 11.75% 13% | 7 | 17,51,932-18,19,196 | 4,71,62,260-5,28,12,492 | 14,71,62,260-15,28,12,492 |
| 10,00,00,000 | 11.75% 13% | 8 | 16,11,579-16,80,726 | 5,47,11,622-6,13,49,649 | 15,47,11,622-16,13,49,649 |
| 10,00,00,000 | 11.75% 13% | 9 | 15,04,360-15,75,359 | 6,24,70,896-7,01,38,747 | 16,24,70,896-17,01,38,747 |
| 10,00,00,000 | 11.75% 13% | 10 | 14,20,295-14,93,107 | 7,04,35,351-7,91,72,888 | 17,04,35,351-17,91,72,888 |
| 10,00,00,000 | 11.75% 13% | 11 | 13,53,029-14,27,611 | 7,85,99,847-8,84,44,624 | 17,85,99,847-18,84,44,624 |
| 10,00,00,000 | 11.75% 13% | 12 | 12,98,326-13,74,625 | 8,69,58,880-9,79,46,035 | 18,69,58,880-19,79,46,035 |
| 10,00,00,000 | 11.75% 13% | 13 | 12,53,248-13,31,210 | 9,55,06,627-10,76,68,801 | 19,55,06,627-20,76,68,801 |
| 10,00,00,000 | 11.75% 13% | 14 | 12,15,696-12,95,264 | 10,42,36,990-11,76,04,282 | 20,42,36,990-21,76,04,282 |
| 10,00,00,000 | 11.75% 13% | 15 | 11,84,131-12,65,242 | 11,31,43,645-12,77,43,590 | 21,31,43,645-22,77,43,590 |
Amortization Table
| Year | Principal (in Rs.) | Interest (in Rs.) | Balance Amount (in Rs.) |
|---|---|---|---|
| 1 | 25,96,450-23,17,781 | 1,16,13,122-1,28,65,123 | 9,74,03,550-9,76,82,219 |
| 2 | 29,18,512-26,37,711 | 1,12,91,060-1,25,45,193 | 9,44,85,038-9,50,44,508 |
| 3 | 32,80,522-30,01,798 | 1,09,29,050-1,21,81,106 | 9,12,04,516-9,20,42,710 |
| 4 | 36,87,433-34,16,145 | 1,05,22,139-1,17,66,759 | 8,75,17,083-8,86,26,565 |
| 5 | 41,44,820-38,87,684 | 1,00,64,752-1,12,95,220 | 8,33,72,263-8,47,38,881 |
| 6 | 46,58,938-44,24,311 | 95,50,634-1,07,58,593 | 7,87,13,325-8,03,14,570 |
| 7 | 52,36,829-50,35,010 | 89,72,743-1,01,47,894 | 7,34,76,496-7,52,79,560 |
| 8 | 58,86,400-57,30,004 | 83,23,172-94,52,900 | 6,75,90,096-6,95,49,556 |
| 9 | 66,16,544-65,20,932 | 75,93,028-86,61,972 | 6,09,73,552-6,30,28,624 |
| 10 | 74,37,253-74,21,033 | 67,72,319-77,61,871 | 5,35,36,299-5,56,07,591 |
| 11 | 83,59,762-84,45,374 | 58,49,810-67,37,530 | 4,51,76,537-4,71,62,217 |
| 12 | 93,96,699-96,11,112 | 48,12,873-55,71,792 | 3,57,79,838-3,75,51,105 |
| 13 | 1,05,62,257-1,09,37,758 | 36,47,315-42,45,146 | 2,52,17,581-2,66,13,347 |
| 14 | 1,18,72,387-1,24,47,523 | 23,37,185-27,35,381 | 1,33,45,194-1,41,65,824 |
| 15 | 1,33,56,678-1,41,79,385 | 8,64,545-10,17,217 | 0 |
Eligibility Criteria
| For Salaried | For Self-employed |
|---|---|
| Minimum Age – 23 years Maximum Age – 65 years or retirement, whichever is earlier Minimum Gross Annual Income – 5,00,000/- | Minimum Age – 23 years Maximum Age – 65 years Minimum Gross Annual Income – 5,00,000/- |
Documents Required
| Documentation | Salaried | Self-employed |
|---|---|---|
| Financials | Last 3 months salary slip Form 16 or ITR Last 6 months bank statement | Last 2 years ITR Last 2 years balance sheet showing Profit & Loss Account duly attested by CA Last 3 years business proof Last 6 months bank statement Nature of business proof |
| Identity Proof (any one) | Passport PAN Card Voter ID Card Driving License Job card issued by NREGA duly signed by a Government official Aadhar Card | Passport PAN Card Voter ID Card Driving License Job card issued by NREGA duly signed by a Government official Aadhar Card |
| Address Proof (any one) | Passport PAN Card Voter ID Card Driving License Job card issued by NREGA duly signed by a Government official Aadhar Card | Passport PAN Card Voter ID Card Driving License Job card issued by NREGA duly signed by a Government official Aadhar Card |
| Signature Proof (any one) | Passport Banker's certificate Driving License PAN Card | Passport Banker's certificate Driving License PAN Card |
| Age Proof (any one) | Passport PAN Card Voter ID Card Driving License Job card issued by NREGA duly signed by a Government official Aadhar Card | Passport PAN Card Voter ID Card Driving License Job card issued by NREGA duly signed by a Government official Aadhar Card |
Features & Benefits of LAP
Here are some of the main features of the mortgage loan scheme of Deutsche Bank:
- Loan against commercial property
- Loan against residential property
- Higher loan amount ranging from Rs. 10 lakhs to Rs. 10 Crores
- Loan up to 75% of the market value of your residential property
- Flexible tenure up to 15 years
- Interest rate 11.75% p.a. onwards
- Insurance Plan for your LAP
- Zero prepayment charges
- Minimum documentation
- Quick loan approval
Deutsche Bank Loan Against Property Interest Rate
Deutsche Bank offers one of the lowest interest rates on the mortgage loans and as a result, it is one of the most chosen banks for the loan against property. The bank offers the loan against property with the interest rate starting from 11.75% to 13.00% per annum.