The search for your dream property becomes easy with affordable DHFL home loan interest rates. DHFL home loan interest rates start at 8.75% p.a. Check your DHFL home loan eligibility based on age, work profile, credit score and repayment capacity. Choose between different home loan schemes and add-on features to avail the lowest DHFL home loan interest rates.
The existing DHFL Home Loan Interest Rates 2021 start at 8.75% p.a. The rate of interest depends on the CIBIL score, loan quantum, and LTV Ratio. The different variants of DHFL Home Loan and their interest rates are as given below.
|Home Loan Variant||Rate of Interest|
|New Home Loan||8.75% onwards|
|Home Construction Loan||8.75% onwards|
|Home Renovation Loan||8.75% onwards|
|Home Extension Loan||8.75% onwards|
|NRI Home Loan||Depends on the profile of the applicant|
A comparative list of current interest rates of top banks with DHFL is given below.
|Name of the Bank||Home Loan Interest Rates|
|HSBC||6.64% to 7.45%|
|Citibank||6.50% to 7.25%|
|Bank of India||6.85% onwards|
|Bank of Baroda||6.75% onwards|
|Indian Bank||7% to 9.15%|
|IDBI Bank||7.35% to 10.45%|
|IDFC First Bank||6.90% onwards|
|Axis Bank||6.90% to 8.55%|
|Deutsche Bank||6.75% onwards|
|DBS Bank||7.30% onwards|
An interest subsidy of between 3% to 6.50% will be extended on DHFL Home Loan Interest Rate PMAY depending on the CLSS Scheme Type
|CLSS Scheme Type||Maximum Loan Amount||Interest Subsidy||Maximum subsidy|
|EWS LIG||Rs. 6.00 lakhs||6.50%||2.67 lakhs|
|MIG-I++||Rs. 9.00 lakhs||4%||2.35 lakhs|
|MIG 2++||Rs. 12.00 lakhs||3%||2.30 lakhs|
Women ownership is mandatory only for EWS LIG. The loan will be for purchase/self-construction as well as an extension for EWS LIG but for MIG 1++ and MIG2++ it will be only for purchase/self-construction.
Repayment of a home loan is a long-term commitment. Your financial comfort depends on the affordable EMI that you choose while keeping in mind some of the emergency expenses that could crop up in the future. While factors like change in the employment scenario, the economy, etc., are not in your control, choosing the best rate for the home loan is well within your control. The primary factor that influences your EMI is the rate of interest. So being prudent in selecting the best deal as far as interest is concerned is crucial while availing of a home loan to keep the EMI at an affordable level.
The following are some of the factors that affect DHFL Home Loan Interest Rate.
CIBIL Score: CIBIL Score is one significant element based on which the rate of interest for a home loan is fixed. If you have a history of good credit records with timely repayments of existing loans and credit card dues on time, then the score will be high. If the score is high, then you are a reliable candidate and also considered a low-risk borrower. DHFL home loans are charged with a considerably lower rate of interest if the credit score is good.
You must check your credit score before applying for a home loan. If the score is at the desired level, you can go ahead. Else, find out the reason for the low score and set right the issues to enhance the credit score before handing over the home loan application.
Employment: A salaried individual will be provided with a DHFL home loan at a lower interest when compared to a self-employed individual. The reason being, the stable income. The lender has to ensure that the repayment will be prompt throughout the home loan term. For this, the lender prefers a candidate with an assured income. You will be at an added advantage if you are employed with Government Organisations, PSUs, PSBs, MNCs or Reputed Companies.
Loan Amount: The rate of interest for an amount up to Rs. 30.00 lakhs is much lower than the rate of interest for an amount above Rs. 30.00 lakhs. Lending risk is higher if the loan amount is higher, and hence the interest rate is higher for a higher loan amount. The best way to get a good deal is to make a sizeable down payment and reduce the loan amount.
Property Value: The loan amount and the rate of interest depend on the value of the property. The resale value of the property will be higher if the property is new and located in a premium locality that has all basic amenities and good transport facilities. Properties in good locations are easier to liquidate in case the loan goes bad. The risk factor is lower when the property’s value is higher, so the interest charged will be lower.
LTV ratio: The LTV ratio decides the borrower’s contribution for creating an asset. If the LTV ratio is higher then, the margin brought in by the borrower will be less. A lesser margin will enhance the risk of the lender as the loan amount will be higher. The rate of interest charged is higher to mitigate the risk quotient.
If you aspire for a lower interest rate, then increase the down payment and borrow a lower amount from the bank.
The list of fees and charges associated with DHFL Home are given below
|Type of Charge||Amount|
|Processing charge||0.5% of the loan amount for individuals and self-employed professionals and non-professionals. 1% of the loan amount for others.|
|Part-payment charges||No charges will be collected for home loans availed of by individuals at either floating or fixed rates. For all home loans availed of by non-individuals, charges will be collected at 2% of the principal outstanding if the part payment is over and above 25% in a financial year.|
|Fore-closure charges||No charge will be collected for home loans availed by individuals if the foreclosure is done out of the borrower’s source. If the loan is taken over by other financial institutions, a foreclosure charge of 2% of the outstanding liability will be collected. For loans availed by non-individuals, foreclosure charges will be collected at 2% of the outstanding principal balance.|
|Pre-payment charges for land cum construction loan||3% if the residential unit is not erected on the plot within three years from the date of disbursement of the loan only if non-individuals avail of the loan.|
|Charges for EMI bounce||Rs. 500/- per instance|
|Repayment instrument modification charges||Rs. 250/- per request|
|Documents copies charges||Rs. 500/-per request|
|Duplicate NOC||Rs. 500/-|
|Mortgage creation charges/stamp duty||Actuals|
|Delayed payment penalty||18% p.a. of the overdue EMI for the delayed period.|
|Charges incurred for the recovery process||Actuals|
|Document retrieval charges on foreclosure of the loan||Rs. 1000/- for loans up to Rs. 10.00 lakhs and Rs. 2000/- for loans above Rs. 10.00 lakhs|
|Statement for foreclosure||Rs. 500/-|
DHFL offers the facility of taking over the home loan from other financial institutions for candidates who are servicing a home loan at a higher rate of interest and opt to avail the home loan at DHFL at a lower rate.
The taking over request will be approved only if the eligibility norms stipulated for DHFL Home Loan are complied with. The DHFL Home Loan interest rate for the balance transfer will be at 8.75% p.a.onwards. The interest rate again depends on the CIBIL score, employment and the LTV ratio.
A processing charge of up to 3% of the loan amount will be collected.
Check for 25 lakh home loan EMI and apply easily on MyMoneyMantra.
A decision to buy a dream house to live comfortably is the most challenging decision to make as it involves wise planning of the capital flow for a long period. Sourcing the funds of one’s own savings is not everyone’s cup of tea. Most of us have to depend on home loans for funding the dream house. Planning the finances even before applying for the loan is very essential. The two most important factors that need to be contemplated on are the loan amount and the affordable EMI. With the DHFL EMI calculator, you will be able to arrive at the EMI that you will have to pay for the home loan so that you can take an informed decision about the loan amount.
You can access the EMI Calculator on the official website of DHFL. Choose the Home Loan EMI Calculator under the Calculators option.
You can make the best use of the DHFL EMI calculator that is user friendly and take an informed decision about the home loan.
The best way to apply for the DHFL Home Loan is to approach the nearest DHFL branch and submit the home loan application with the required documents.
An alternate method to apply for DHFL Home Loan is through their website. Access the DHFL website and click on the type of home loan under the home loan option. A page giving the details of the home loan will open. There is an enquire button at the bottom of the page. Click on the button and a representative of DHFL will contact you regarding further details within 24 hours. You can also call on their toll-free number and place a request. You will be contacted by a DHFL representative to continue with the home loan application process.
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The DHFL Home Loan interest rate today is 8,75% and upwards. The interest depends on the CIBIL score, LTV and the loan amount.
The DHFL home loan depends on the value of the property, the repayment capacity and the income of the applicant.
The various fees and charges collected for DHFL Home Loans are as mentioned below
Yes. If you are servicing a home loan at a higher rate of interest, you can opt for a balance transfer by DHFL. The balance. The transfer rate of interest will be set at 8.75% p.a.and upwards. The rate of interest depends on the CIBIL score, loan amount and the margin provided.
The DHFL Home Loan Interest Rates 2021 depends on the credit score, loan amount and LTV ratio. Before applying for a DHFL home loan, you should deliberate on the factors that affect the rate of interest.
With the DHFL EMI Calculator, you will be able to arrive at the affordable EMI and the eligible loan amount even before applying for a home loan. This will enable you to make an informed decision regarding the home loan.
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