|Loan amount||Up to 90% of Property Value|
|Rate of interest||9.85% onwards|
|Tenure||Up to 20 years|
|Lowest EMI possible||Rs. 955 Per Lakh|
|Processing fee||1% of loan amount|
|Foreclosure Charges||Nil for floating rates|
|Penal Interest Rate||2% per month|
You can also Apply for 20 Lakh Home Loan
The features and benefits of Deutsche Bank Home Loan are:
Purpose of the loan: The loan is provided for purchase/construction of a new house, purchase of a new flat, purchase of an old flat/house, repairs and renovation to the existing house, and home improvement.
Quantum of the loan: A loan up to 80% of the market value of the property or the project cost, whichever is lower, will be provided. However, the maximum quantum of the loan provided will be 15 Crores, depending upon the value and type of the property.
Interest Rate: Both fixed and floating rates of interest options are available. If the fixed rate of interest is opted, then the interest rate will be 9.85% p.a. Interest is charged on the daily outstanding balance. The cost of Home Loan Interest can be reduced if part-prepayments are done periodically, whenever there is the availability of surplus funds.
Repayment period: Flexible repayment period in the range of 5 years to 20 years is available.
Margin: Margin will be 20% of the market value of the property or the project cost, whichever is lower.
Processing charges: There are no processing charges. However, an administration charge of 1% of the loan amount will be collected.
Insurance: An exclusive insurance plan at a nominal premium will be provided to cover the loan liability. This will take care of the outstanding balance in the Home Loan in the case of any eventuality. The family members of the borrower will not have the burden of clearing the Home Loan liability.
Documentation: The documentation is simple and hassle-free, thus reducing the turn-around time for the loan processing.
Balance Transfer: There is an option for transferring the outstanding balance in the Home Loan account at other banks/financial institutions.
Additional Info: Also check DDA Housing Scheme
The interest rate for Deutsche Bank Home Loan varies between 9.85%. Below is the segregation of interest rates, depending on repayment tenure and type of interest:
Floating Rate of Interest:
Fixed Rate of Interest:
|Name of the Charge||Amount|
|Pre-payment/part-prepayment charges||NIL for a Home Loan with a floating rate of interest|
|For Home Loans with a fixed rate of interest, part-prepayment charges at 2.50% of the amount to be prepaid and pre-closure charges at 2.50% of the outstanding loan amount will be collected.|
|Unsuccessful EMI payment||500|
|Conversion fee||A charge up to 0.5% of the outstanding loan amount will be collected for re-pricing the loan.|
|Default rate of interest||24% per annum|
|Charges for retrieval of documents||500|
|Taxes & other government levies||As applicable|
|Stamp duty||As applicable|
The following are the eligibility criteria for Deutsche Bank Home Loan:
Additional Info: Also check Home Loan Eligibility
The following documents have to be submitted for Deutsche Bank Home Loan:
Identity proof (a copy of any of the following) - For all applicants
Address proof (a copy of any of the following) - For all applicants
Income documents for salaried applicants
Income documents for self-employed applicants
Additional Info: Also check Documents Required For Home Loan
Equated Monthly Instalment (EMI) consists of both the interest and the principal component. On knowing the EMI, you can arrive at the nearest affordable amount by permutation and combinations with various loan tenure, interest rate, and loan amount.
The formula to calculate EMI is E = P x r x (1+r)n/(1+r)n-1
'E' means EMI
'P' represents the principal amount
'r' stands for the interest rate offered on a monthly basis
'n' is the duration of the loan
You can use MyMoneyMantra's EMI Calculator for instant EMI calculation. All you need to do is open Deutsche Bank Home Loan EMI Calculator mentioned on our website under the Financial Tools tab and fill in the required details.
After calculating the EMI before applying for the loan, you have to check:
Additional Info: Also check SBI Home Loan EMI Calculator
|Lender||Maximum Loan Amount||Maximum Tenure||Interest Rate||Processing Fee|
|Deutsche Bank||Up to 90% of property cost||20 years||9.55%||1% + applicable taxes|
|ICICI Bank Home Loan||Up to 90% of property cost||30 years||7.60% - 8.45%||0.50% - 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST|
|HDFC Ltd||Up to 90% of property cost||30 years||7.55% - 8.05%||Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes|
|Axis Bank Home Loan||Rs. 5 Crores||30 years||7.60% - 8.05%||Up to 1%, minimum Rs.10,000|
|Kotak Mahindra Home Loan||75% to 90 % of property value||30 years||7.50% - 8.10%||O.5% to 2.0 % + GST|
Additional Info: You can also avail Navi Home Loan
For any complaint or query, you can email at email@example.com.
You can write to Deutsche Bank at the following address by regular post:
Customer Care - Banking
Deutsche Bank AG,
PO Box 9095,
Mumbai - 400 063
The bank will respond within 7 days of receiving your communication.
You can also call their 24/7 phone banking team at 1860 266 6601 for immediate assistance.
Additional Info: Also check AnyRoR Gujarat Land Record
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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.
In the event of the loan getting declined, an amount of Rs. 2,000 or the fee paid by the borrower, whichever is lower, will be deducted as processing charges from the administrative fee collected, and the remaining amount will be refunded.
If the loan is approved, the administrative fee will not be refunded.
The spouse can be the co-applicant for the Home Loan and the income of the spouse will be considered while arriving at the eligible loan quantum.
No, it is not mandatory to open an account with the bank to avail the Home Loan. However, to enjoy the benefit of the other services offered, the Bank encourages the opening of an account.
The loan will be disbursed only on the execution of the loan documents.
You can claim a deduction of tax under Section 80C and 80CCE for the interest and principal component paid towards the loan.
When there is a part-disbursement of the loan, interest has to be paid only on the disbursed amount. The interest that has to be paid is the pre-EMI interest.
A top-up loan can be availed to meet various personal requirements depending on the value of the security offered to the Home Loan.
The top-up loan will be considered only after 12 months from the date of the first disbursement of the Home Loan. A top-up loan will be considered only if the repayment record of the Home Loan is satisfactory.
The repayment period ranges from 5 years to 20 years.
An amortization schedule will give the break up of the principal and interest component for the EMI scheduled to be collected for the entire repayment period.
As per the IT rules, only one IT certificate has to be issued and so only one IT certificate will be issued in the name of both the borrower and the co-applicant.