Deutsche Bank Home Loan Interest Rate

• Range of Home Loan products to meet various housing requirements
• Depending on the value of the property and your eligibility, Home Loans are available up to 15 Crores.
• Deutsche Bank offers Home Loans up to 80% of the value of the property
• One of the highlights of Deutsche Bank Home Loans is its straightforward documentation process and transparent processing.
• Balance transfer facility is available that enables customers to avail a better rate of interest as compared to their existing loan.
• Deutsche Bank calculates Home Loan interest on daily reducing balances, the most beneficial method for its customers.
• Salaried persons and self-employed individuals can apply for Deutsche Bank Home Loan depending on their eligibility.
• Deutsche Bank provides a range of flexible repayment tenures starting from 5 years and extending up to 20 years.
• Deutsche Bank offers the facility of an exclusive insurance plan to cover the entire Home Loan amount that can come handy to meet unforeseen events.

Deutsche Bank links its Home Loan interest rates to its Marginal Cost of Funds based lending rates (MCLR). Deutsche Bank announces its MCLR in the first week of every month as directed by the Reserve Bank of India. The Home Loans link to the 1Y MCLR of the bank. As on date, Deutsche Bank offers Home Loans with both fixed and floating rates of interest.

The MCLR structure of Deutsche Bank as on September 07, 2019 is as listed hereinbelow.

The MCLR concept is active in all banks in India with effect from April 01, 2016. Before April 2016, banks used to link their Home Loan interest rates to the Base Rate regime. Deutsche Bank announces its latest Base Rate from time to time. Though new loans do not come under the Base Rate structure, the bank announces the rates, as they have existing loans sanctioned before April 2016 under this regime.

• The individual Home Loan rate for a borrower depends on various factors, including the creditworthiness of the borrower, type of property, the value of the property, occupation of the borrower, and so on.
• The MCLR is the guiding interest rate. The bank loads a spread over the MCLR, depending on the factors discussed above.
• Every Home Loan comes with an interest reset clause. The clause stipulates the frequency of linking of MCLR with Home Loan interest rate.
• As per the bank's published data, the rate range for Home Loans is between 9.70% and 10.50%, with the mean interest range at 9.91%.
• Customers can get more information on the applicable interest rates by sending an SMS 'HL' to 561615. They can also call the bank on the toll-free number 18602666660 to obtain these details.
• The fixed rates of Deutsche Bank Home Loan are considerably higher than the floating rate
• Deutsche Bank has a flexi rate on offer as well. These rates remain fixed for a specific pre-determined period, after which they convert to the floating rate structure.
• Deutsche Bank clarifies the type of interest rate on its Home Loan agreement that customers execute at the time of availing their Home Loans.

Deutsche Bank has a transparent structure for charges on its Home Loans.

Deutsche Bank adopts an ideal method of calculation of interest. It is a daily reducing balance method. This mode of calculation of interest is the most beneficial to borrowers. They get the benefit of interest on the repayment of EMI from the date of repayment.

The ideal mode of repayment is the Equated Monthly Instalment, more popularly referred to as EMI. EMI comprises of two variable constituents, the interest repayment and principal amount repayment component. The interest component of the EMI is equal to the amount of interest payable on the Home Loan on the last day of the previous month. The balance amount goes towards reducing the principal amount. This process continues until the liquidation of the entire Home Loan. In the initial period of the Home Loan, the interest component will be high. As you continue repaying the EMIs on time, the interest portion reduces gradually. The loan amortisation schedule will give you the details of the interest repayment and principal amount repayment over the entire tenure of the Home Loan.

Deutsche Bank has an EMI Calculator on its website that can help calculate the EMI on the Home Loan. Using the calculator is comfortable. Customers have to enter the Home Loan amount, the rate of interest, and the repayment schedule to get the EMI.

MyMoneyMantra offers similar facilities for calculating the EMI on the Home Loan. The procedure is the same. This calculator provides the complete break up of the interest and principal repayment over the entire tenure of the Home Loan.

The eligibility criteria are listed out on the Home Loan webpage of Deutsche Bank. It is as follows:

If you satisfy the essential eligibility criteria for Deutsche Bank Home Loans, you can proceed with your online application.

• SMS HL to 561615: You get an immediate response. Deutsche Bank officials will call you on your mobile to explain the product and complete the application formalities.
• Call 18602666601 to speak to a Deutsche Bank representative who will guide you with the loan application formalities.
• Click on the Apply Online option. It will direct the customer to a new page where you fill in your details. Submit the initial application form to Deutsche Bank. You will get a call from Deutsche Bank to complete the other formalities.

MyMoneyMantra allows you the option to apply for the Deutsche Bank Home Loans from their website. The procedure is easy to follow:

• Access MyMoneyMantra website
• Select the Home Loan option
• Submit the necessary information as called for by MyMoneyMantra
• Enter the OTP at the requisite location to get access to the Home Loan comparison page
• Select your preferred Home Loan provider as Deutsche Bank and proceed with the loan application.

MyMoneyMantra Home Loan experts will explain the details of the Home Loans and the nature of documents you need to submit. They will help you with the submission of the necessary documents.