DBS Bank
Home Loan

You can also Apply for 20 Lakh 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

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:

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.

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.

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

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

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

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

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