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DBS Bank Home Loan Details

Loan amountUp to 90% of Property Value
Rate of interest6.70% onwards
TenureUp to 20 years
Lowest EMI possibleRs. 757 Per Lakh
Processing fee0.25%
Foreclosure ChargesNil for floating rates
Penal Interest Rate2% per month

You can also Apply for 20 Lakh Home Loan

Features and Benefits of DBS Bank Home Loan

Purpose of loan: For purchase of ready or under construction property from developers approved by the bank. You can also get these loans for construction of a new house or remodeling of an existing house.  
Who can apply: Salaried, self-employed salaried professional, and self-employed non-professional applicants aged between 21 to 60 years are eligible to apply for home loan.  
Affordable interest rates: The bank offers Home Loans on competitive rates of interest to make them more affordable for everyone.  
Quantum: The bank offers a minimum loan amount of  Rs. 5 Lakhs and maximum Rs. 5 Crores.  
Loan to Value (LTV ratio): For loan up to Rs. 25 Lakhs, you can get up to 80% of the cost of the property as LTV ratio.  
Home credit overdraft facility is also available  
Repayment of loan: EMI is fixed based on your income. EMI should not be more than 65% of the income of the applicant. The loan tenure is depending upon the age at the time of sanction of loan and retirement age. Normally DBS Bank offers a maximum repayment period of up to 20 years. There is flexibility to repay only interest during the construction period.  
Loan to NRIs: NRI customers at select countries are eligible for Home Loan  
Processing charge: Maximum processing charges collected will be Rs. 10,000

Additional Info: Also check DDA Housing Scheme

DBS Bank Home Loan Interest Rates

The interest rates of DBS Bank Home Loans are linked to the bank's 3-months Marginal Cost of Funds Based Lending Rate (MCLR), which is 6.70% w.e.f 07.02.2022. The current DBS Bank Home Loans Interest Rates are as follows:

Loan TypeLoan SlabInterest Rate
Home Loan/ Home Loan TakeoverAny loan amount without Flexi account facility3-months MCLR + up to 0.80: 6.70%
 Any loan amount with Flexi account facility3-months MCLR + up to 0.95: 6.70%

DBS Bank Home Loan Processing Fee and Other Charges

Fees or Charges LeviedAmount
Loan processing fees 10,000
Stamp duty, NOC, etc.On actuals
Charges for delayed payments/ defaults18% Default Interest is applicable for non-payment of the EMI. It is charged on the overdue instalment for the defaulted period.
Incidental charges and expenses (levied to cover the costs, expenses, charges, and other costs spent for the recovery of dues from a defaulter)On actual
Switch feesUp to  5,000 or as mutually agreed when  accepting the service  request of the customer
Conversion FeesUp to 1% or as mutually agreed when  accepting the service  request of the customer
Re-pricing feesUp to  5,000 or as mutually agreed when  accepting the service  request of the customer
Part pre-payment  chargesFor  variable interest rate Home Loans/ Hybrid interest rate Home Loans during the variable rate period: NIL
For fixed interest rate Home Loans/   Hybrid interest rate Home Loans during the fixed rate period: 2.5%  of the outstanding loan  amount (for part prepayment of above 25% ) 
Foreclosure chargesFor  variable interest rate Home Loans/ Hybrid interest rate Home Loans during the fixed rate period: NIL
For fixed interest rate Home Loans/   Hybrid interest rate Home Loans during the fixed rate period: 2%  of the outstanding loan  amount + the  undisbursed part of  the sanctioned loan 

Terms and conditions:

  • All taxes levied by the Central, State or any other government bodies will be applicable on all above-mentioned fees and charges.
  • In Hybrid Rate Loan facility, the interest rate remains fixed for the initial few years and becomes variable (linked to MCLR) thereafter.
  • The DBS Bank reserves the right to modify the fees, rates, or charges mentioned above or re-negotiate them based on the relationship with a customer.
  • All above-mentioned schedule of charges are subject to be revised by the bank as and when required.

Eligibility for DBS Bank Home Loan

Below are the eligibility criteria to be met for availing a Home Loan from DBS Bank:

  • Applicant must be salaried, self-employed professional or self-employed non-professional.
  • Indian residents as well as NRIs and PIOs (select countries) can apply for this loan
  • The minimum work experience of the applicant should be at least 2 years
  • The minimum credit score required is 650. If the credit score is less than 650, the loan application can be rejected even if all the other eligibility parameters are satisfactory.
  • The age limit to avail this loan ranges from 21 years to 60 years
  • The net monthly income should be minimum  1 Lakh to maximum  10 Crores
  • Other monthly income is also considered but only up to a limit of 50% of the net monthly income.
  • Total monthly EMI commitment should not exceed  10 Crores
  • The borrower should not have an outstanding balance on their Credit Card exceeding  10 Crores.
  • The NRI applicant must have and maintain a Non-Resident Ordinary (NRO)/ Non- Resident External (NRE) account in India as per the Foreign Exchange Management Act, 1999.

Documents Required for DBS Bank Home Loan

Document TypeSalaried IndividualSelf-employed ProfessionalSelf-employed Non ProfessionalNRIs
Proof of identityYesYesYesYes
Proof of address (NRI applicants must also provide the proof of overseas address)YesYesYesYes
Proof of ageYesYesYesYes
PAN cardYesYesYesYes
Aadhaar cardYesYesYesNo
Salary slips for the last 3 monthsYesNoNoYes
Form 16/ ITR for the last 2 years/ Equivalent for NRIYesNoNoYes
Repayment track record for existing loans (if any)/ Loan closure letterYesYesYesYes
Proof of business existence and continuity for the last 3 yearsNoYesYesNo
Business profileNoNoYesNo
Employment confirmation letterYesNoNoYes
Certificate for education qualificationYesYesYesYes
ITR for the last 3 yearsNoYesYesNo
report with all annexures    
Property's title documents and approved building planYesYesYesYes
Approved planYesYesYesYes
Agreement copyYesYesYesYes
Proof of customer's equity to developer for Home LoansYesYesYesYes
Copies of all pages of a valid passport and visaNoNoNoYes
Credit report from the Credit Bureau of respective countriesNoNoNoYes
Credit Card statements of the last 3 monthsYesYesYesYes

How to Calculate DBS Bank Home Loan EMI?

The DBS Bank Home Loan EMI Calculator available on MyMoneyMantra is an online tool which helps you compute the exact amount of EMI to be paid on a monthly basis without facing a financial crunch. This computation will help you plan the monthly and annual expenses in such a way that the budget is not disturbed and you can plan the finances accordingly. The loan parameters like loan amount, tenure, and interest rate need to be provided to calculate the EMI that is suitable for your requirements.

To calculate your EMI for DBS Bank Home Loan using MyMoneyMantra Calculator, follow the steps mentioned below:

  • Click on EMI Calculator under Financial Tools tab mentioned on the home page of MyMoneyMantra's website
  • Enter the loan amount, interest rate, and loan tenure
  • Click on the Calculate button to get the result

It is advised to Calculate Home Loan EMI prior to taking a Home Loan. There are several benefits of calculating your Home Loans EMI as discussed below:

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount, which fits your monthly budget and makes EMI easily affordable.
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly.
  • Based on the EMI amount, you can opt for making a prepayment of your Home Loan in the future when you have surplus amount.

How to decide the right amount of EMI?

  • Decide the loan amount actually require
  • Calculate your Home Loan eligibility
  • Review all your present financial responsibilities

Change in Home Loan EMI with prepayment

The interest on the Home Loan is based on the reducing liability. Part pre-payment will reduce the outstanding principal amount which in turn reduces the interest burden of the borrower. Home Loan pre-payment is accepted without any charges (for loans based on floating interest rates) which is an advantage to the borrower. Whenever there are excess funds it is always advisable to prepay the loan amount to reduce the outstanding balance. There are two prepayment options extended to the borrower, i.e. part prepayment and full foreclosure.

Additional Info: Also check SBI Home Loan EMI Calculator

Types of DBS Bank Home Loans

The bank offers the following types of housing loans to customers:

DBS Bank Home Loan

This is a regular Home Loan product that caters to the home purchase needs of individuals.

Key Highlights

PurposePurchasing a ready/ under construction property from developers approved by the bank
Who can applyIndian residents as well as NRIs who are salaried, self-employed professional or self-employed non-professional
Maximum loan amountUp to 5 Crores
Maximum repayment tenureUp to 20 years
Maximum LTVUp to 80% of the cost of the property

DBS Bank Refinance Loan

If you are paying a high interest rate on your existing Home Loan from another bank, you can transfer it to the DBS Bank to reduce the interest cost and get attractive benefits.

Key Highlights

Purpose
  • Transfer a high cost Home Loan from another lender to DBS Bank to reduce your EMI burden
  • Consolidate all your debts into a one new loan
  • You can also get top-up on your loan for funding additional personal or business needs
Who can applyIndian residents are salaried, self-employed professional or self-employed non-professional
Maximum repayment tenureUp to 20 years
Maximum LTVUp to 80% of the cost of the property

DBS Bank Flexi Loan

Flexi Loan enables you to save on your Home Loan interest payments and thereby reducing the tenure of the loan. It is operated via a Flexi Loan account that acts as an overdraft account. You can keep adding any surplus income and savings you have, in this account. The interest will be calculated on a daily basis on the principal outstanding minus the savings deposited in the Flexi Loan account. The bank also issues an additional Debit Card to the customer.

Key Highlights

PurposeSave on Home Loan interest payments and thereby reducing the tenure of the loan.
Who can applyIndian residents who are salaried, self-employed professional or self-employed non-professional
Maximum loan amountUp to 5 Crores
Maximum repayment tenureUp to 20 years
Maximum LTVUp to 80% of the cost of the property

DBS Bank Home Loan Comparison with Other Lenders

LenderMaximum Loan AmountMaximum TenureInterest RateProcessing Fee
DBS BankUp to 90% of property cost20 years6.70%0.25% + GST
ICICI Bank Home LoanUp to 90% of property cost30 years7.60% - 8.45%0.50% - 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST
HDFC LtdUp to 90% of property cost30 years7.55% - 8.05%Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes
Axis Bank Home LoanRs. 5 Crores30 years7.60% - 8.05%Up to 1%, minimum Rs.10,000
Kotak Mahindra Home Loan75% to 90 % of property value30 years7.50% - 8.10%O.5% to 2.0 % + GST 

Additional Info: You can also avail Navi Home Loan

DBS Bank Home Loan Customer Care

For any query regarding DBS Bank Home Loans, you can call on the numbers mentioned below to talk with the DBS experts:

1860 267 1234 OR 1800 209 4555

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Best Value Home Loans

MyMoneyMantra is India’s largest phygital loan distributor. With trust of 70 lakh customers, we assure hassle free access to the best Home Loans up to 10 crore for housing loan borrowers in India. Our service is 100% free. We use latest technology and AI to serve customers across the length & breadth of our diverse country. Check Eligibility & Apply.

DBS Bank Home Loan FAQs

✅ How many types of interest rates the DBS Bank may charge on its Home Loans?

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The rates of interest charged by the bank may be of three types:

  • Fixed Rate of Interest
  • Floating Rate of Interest
  • Hybrid Rate of Interest (a combination of fixed and floating rates of interest). The interest rate remains fixed for a specific period and then turns into a floating rate for the balance tenure of the loan.

✅ How many days does it take for the DBS Bank Home Loan application to get sanctioned?

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The DBS Bank takes about 15 working days to sanction the Home Loan application from the date of receiving the completed application, KYC, and subject to all clarifications or information required for processing the loan.

✅ What are the minimum and maximum loan amounts available under DBS Bank Home Loan?

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You can avail a loan amount of a minimum of Rs.11 Lakhs. The quantum may go up to Rs. 5 Crores, depending on the city where the loan is disbursed, your repayment capacity, and other eligibility factors.

✅ What are the documents needed to be submitted to apply for the loan?

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The primary documents required to be submitted are:

  • Application form along with a self-attested photograph
  • Identity proof
  • Age proof
  • Residence proof
  • Bank statement
  • Income documents
  • Property documents
  • Processing fee cheque

✅ How can I apply for a DBS Bank Home Loan?

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You can apply for the loan through any of the following ways:

  • Get in touch with the bank by calling at their contact centre numbers
  • Make an appointment with the bank representative online through their website
  • Visit any DBS Bank branch
  • Apply online through MyMoneyMantra

✅ Who can be a co-applicant for the DBS Bank Home Loan?

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You can include any of your immediate relatives like spouse, parents, or children as co-applicant(s) for the loan. Siblings can also be co-applicants if they co-own the property.

✅ How to repay my DBS Bank Home Loan?

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You can repay your DBS Bank Home Loan in the form of EMI through any one of the following payment modes:

  • By providing the Electronic Clearance Service (ECS) mandate
  • By providing Standing Instruction (SI)
  • By any other method as has been agreed by the borrower or as may be dictated by the lender in accordance with applicable law.

✅ How does the bank calculate the interest on my Home Loan?

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The interest is calculated by the bank on a daily reducing balance method and is charged with monthly rests.

✅ Does the bank offer a top-up loan without providing any additional security?

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Yes. After completing six months of repayment of your Home Loan, the bank offers you a top up loan over and above your existing Home Loan.

✅ Do I need to insure my property?

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Yes, your property must be duly and properly insured against fire and other appropriate hazards during the loan tenure. You will have to provide the proof to DBS Bank for the same, each year and/or whenever required to do so. The beneficiary of the insurance policy must be DBS Bank Ltd.