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Dena Bank Housing Loans

 

 

Dena Bank offers housing loan under its popular scheme known as Dena Niwas Housing Finance Scheme. The loan is available for purchasing/building a home, to buy a under construction flat, or to buy a plot to build your dream house in the near future. Dena Bank housing can can also be availed for repairing and renovation of your existing flats/home. The bank provides upto Rs.200 lacs for the purchase/construction of a new house and upto Rs. 10 lacs for extension or renovation of your old house. The maximum tenure for repayment is 20 years for purchase/construction of a home and 10 years for extension/renovation of your home.

 

Why Dena Bank Housing Loans?

 

  • Affordable interest rates starting at 10.45% (for floating upto 5 years).

  • High loan amount upto 2 crore rupees for purchase/construction of a new house and upto 10 lacs for renovation of your existing home.

  • Very low processing fee ranging between 0.1% to 0.25% depending on the loan amount.

  • Interest charged on daily reducing balance thus good saving on your total interest.

  • No prepayment penalty on loans.

  • Purchase of house upto 50 years old allowed.

  • Floating rate linked to BPLR.

  • Loan amount upto 85% cost of the property.

  • Free accidental insurance coverage up to 1 lac rupees and a free debit card to you.

  • Hassle free documentation.

 

 

Interest Rates

 

 

Repayment

Upto Rs.30 lacs

>30 lacs upto 75 lac

> 75 lac upto 3 crore

More than Rs. 3 crore

 

Float

Fix

Float

Fix

Float

Fix

 

Upto 5 years

10.5

12.75

11.0

13.0

11.25

13.25

 

More than 5 years & upto 10 years

10.75

13.0

11.25

13.25

11.75

13.0

14.0

More than 10 years & upto 25 years

11.0

13.25

11.75

13.5

12.75

13.75

 

 

Eligibility

 

  • Resident of India or NRI with steady source of income.

 

  • Retirement age (for salaried) and not more than 65 years of age (for self employed) at the time of maturity of loan.

 

  • The total deductions including EMIs shouldn't be more than 60% of gross income.

 

  • Income of your spouse can be clubbed for a bigger loan amount eligibility.

 

 

Documentation

 

  • Loan application form with 2 passport size photos of applicant.

 

  • Copy of the approved plan for the proposed construction / extension / addition.

 

  • Allotment letter of Co-operative Housing Society / Apartment Owners' Association / Housing Board / NOC from the Society / Association / Builders / Housing Board.

 

  • Salary Certificate and Form No.16 (in case of salaried persons).

 

  • IT Returns filed for the past two years (in case of non-salaried persons).

 

  • A brief note on the nature of business, year of establishment, type of organization

(in case of self-employed).

 

  • Balance sheet and profit and loss account for the past 3 years (in case of self-employed).

 

 

Dena Bank Housing Loan Calculator

 

 

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