Dhanlaxmi Bank

Dhanlaxmi Bank Home Loan

Apply Dhanlaxmi Bank Home Loan

About Dhanlaxmi Bank Home Loan

The Dhanlaxmi Bank came into being in the year 1927 in Kerala. At that time, it had a capital of just 11,000 with only seven employees. It first became a scheduled bank in 1977 and thereafter grew manifolds to reach its present scale of close to 280 branches with over 395 ATMs across India. Today it offers multiple products and services to its customers across an array of verticals.

Among the many Dhanlaxmi Bank products and services are the Home Loans. Dhanlaxmi Bank Home Loans are a great way for the bank's customers to get their dream home financed at competitive rates. With low rates of interest, simplified documentation, as well as, faster approval, the bank offers several variants of the Home Loans. Customers can easily pick the one that suits the requirements best.

The Home Loans from the Dhanlaxmi Bank are given on floating rate of interest, which is applicable on both, the normal housing loans as well as the top-up Home Loans.

Dhanlaxmi Bank Home Loan

Interest rate


Loan tenure

30 Years

Loan turnaround period

8 - 15 days

Loan to value (LTV)

Get loan up to 85% of project cost

Who can apply?

  • Self-employed professionals
  • Salaried individuals
  • Indian residents


Up to 4 applicants are allowed as co-applicants

Lowest EMI

723 Per Lakh

Why Dhanlaxmi Bank Home Loan?

There are abundant reasons why you should choose Dhanlaxmi Bank Home Loans.

Following are some of the reasons:

  • Variety of loans: Provides a wide range of Home Loans to choose from which includes a home extension loan, home improvement, home construction, financing a new home or even purchasing a plot of land before building your home.
  • Interest rates: Flexible Home Loan interest rates
  • Flexible tenure: Loan tenure for up to 30 years
  • Nil prepayment charges: No pre-payment charges on Dhanlaxmi Bank Home Loans given to individuals.
  • Easy EMIs: You can choose from convenient EMI options

Features and Benefits of Dhanlaxmi Bank Home Loan

Here are some attractive features and benefits of the Dhanlaxmi Bank Home Loans:

Key Features of Dhanlaxmi Bank Home Loans

Maximum Loan Tenure

30 years

Maximum Loan Amount

2.5 Crores in case of house/flat and 50 Lakhs in case of plots.

Interest Rate

Starting at 9.70% p.a.

Maximum Loan Tenure

20 years

Prepayment charges


Processing Fee

1% of the loan amount (minimum of 10,000) + service tax

Purpose of Loan: The Dhanlaxmi Bank Home Loans are given with the purpose of helping customers buy or build their dream houses with the flexibility of ample cash. It can be used to buy a plot, construct a house on the pre-owned plot, buy and construct a house, buy a flat, renovate a house, or extend it.

Eligibility:Here are the important factors to be considered to understand your eligibility for a Home Loan from Dhanlaxmi Bank:

  • Income of Borrowers: Professionals, employees, businessmen, NRIs, Agriculturists, etc., with a salary of more than 1.2 Lakhs per year.
  • Age: Borrower must be able to repay the loan before attaining the age of 60 years. Minimum age of borrower must be 21 years.

Loan Quantum: In case you want to buy a plot, the maximum loan amount is 50 Lakhs. However, for a house/flat it goes up to 2.5 Crores. However, certain other criteria also govern the loan amount sanctioned. The loan amount sanctioned is lowest among the following (whichever might be applicable):

  • The loan amount should be 85% of the price of the house/flat/unit or the cost of construction of the unit.
  • The loan amount should be 75% of the cost of the plot to be purchased
  • The loan amount should be 70% of the cost of repairing the existing unit
  • For employed borrowers: The loan amount should be 60 times their net monthly salary, including that of their spouse as well.
  • For any other category of borrowers: The loan amount should be five times their net annual income according to the IT returns filed by them.

Loan Tenure:

For plots

Up to 10 years max without any initial holiday

For flats/houses

Up to 30 years including initial holidays of up to 18 months.

Repayment terms

The loan must be repaid before a salaried borrower attains the age of 60 and a self-employed borrower attains the age of 65.

Benefits of Dhanlaxmi Bank Home Loans

Taking a Home Loan from the Dhanlaxmi Bank offers numerous benefits to the customers.

Some o these are given below:

  • Increased flexibility: With Dhanlaxmi Bank Home Loans, you can get more loan quantum with respect to your present income. There is easy loan tenure of up to 20 years and competitive interest rates to make the loan easy on you. Even the documentation is very simple with the bank offering doorstep delivery to help you complete the process. What is even better is that you can easily step up or step down your EMIs as per your financial ability.
  • Transparent dealings: With the Dhanlaxmi Bank, you always experience transparency and clarity in all their dealings. All charges and costs are discussed with the customer beforehand so that there are no hidden surprises later. They charge only one-time processing fee and there are no charges applicable on loan repayments.
  • Special offers and schemes: Under their special schemes, the Dhanlaxmi Bank offers loans not just on the basis of your income but also as per your business's nature. The bank also offers a MRTA insurance plan that works on mortgage reducing terms to cover the outstanding loan in the absence of the borrower.
  • Options for Refinance: You can avail the facility of refinance within one year. The bank also offers great balance transfer rates on the existing loan as well as top-up Home Loans too for personal use or business purposes.

Dhanlaxmi Bank Home Loan - Interest Rates

Dhanlaxmi Bank offers Housing Loan based on its 1-year MCLR, which is the Marginal Cost of Funds Based Lending Rate. The current 1-year MCLR of the bank is 9.90%.

The interest rates applicable are as follows:

Dhanam Home loan

1-year MCLR to 1-year MCLR + 0.25% = 9.90% to 10.15%

Dhanam Home loan - Surrogate

1-year MCLR + 0.53% to 1-year MCLR + 3% = 10.43% to 12.90%

Types of Dhanlaxmi Bank Home Loan

Dhanlaxmi Bank offers four types of Home Loans.

These are as follows:

  • Home extension loan: This loan is ideal for you if you want to extend your existing home and add extra rooms/space to it. The loan is passed once all necessary approvals are in place.
  • Construction Loan: This loan is given by the Dhanlaxmi Bank to those looking to construct a house on a pre-owned plot.
  • Home improvement loan: Perfect for external or internal repairs in the existing home, the home improvement loan from the Dhanlaxmi Bank is suitable for refurbishing your home. It can also be used to conduct structural improvements like flooring, tiling, plumbing, waterproofing, electrical work, underground water tank construction, etc. This loan is passed only after estimates from the civil works department of your area have been received and assessed.
  • Plot + Construction loan: This loan is given by the Dhanlaxmi Bank to those looking to buy a plot for constructing a house on it subsequently.

Eligibility for Dhanlaxmi Bank Home Loan

Following are the eligibility criteria required for Dhanlaxmi Bank Home Loan:

  • Employees/Businessmen/Professionals/Agriculturists/NRIs having an annual income of above 1.2 Lakhs are eligible to apply for the loan.
  • Loan must be repaid before the borrower turns 60 years of age
  • Salaried employees, having a minimum net monthly income of 6,000 (including spouse's income), with a minimum 1 year of service left after completing the eligible loan tenure, can apply.
  • Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) who are below 55 years of age and are employed overseas for minimum 24 months with assured recurring earnings, can apply.

Eligibility Criteria for NRIs/PIOs

  • The maximum loan amount offered is 60 times of applicant's take-home income, subject to restrictions so that the applicant can repay the loan within their remaining period of gainful employment with 30% of their earnings.
  • The loan amount to be applied for must be above 2 Lakhs

Documents Required to Apply for Dhanlaxmi Bank Home Loan

Here is a list of documents, which are required to be submitted by all applicants:

  • Latest income tax assessment order or return filed or certificates - Issued by revenue authorities.
  • Salary certificate/ salary recovery undertaking letter by the employer (for salaried persons)
  • For NRIs/PIOs:
    • Passport with VISA stamp duly verified or attested
    • Valid work permit
    • Duly verified/attested employment contract
    • Continuous discharge certificate copy (for Merchant Navy)
    • Previous employment details
    • Last 6 months' bank account details
    • Residence proof
    • Income proof in case of self-employed
    • Copy of duly verified/attested labour card or identity card
    • Duly verified salary certificate/slip
    • Duly notarised Power of Attorney (POA)

Why Apply for Dhanlaxmi Home Loan through MyMoneyMantra?

Applying for a loan is a lengthy process involving a lot of documentation and paperwork, which often results in significant back and forth between the applicant and the bank. Everyone may not be able to spare that kind of time from their daily routines and therefore, might feel frustrated with the process.

This is where experts such as MyMoneyMantra come in. With years of experience and strong expertise in the arena of managing financial products and services, the loan specialists from MyMoneyMantra are able to offer great help. The assistance is not limited to just the application process, but extends to the loan disbursal stage and even later if the client wants.

With MyMoneyMantra, you get expert advice on how to plan your loan, manage your EMIs, and even finances if you wish to ask. All this makes it a unique and extremely rewarding hassle-free experience.

How to Apply for Dhanlaxmi Bank Home Loan?

Steps to Apply for Dhanlaxmi Bank Home Loan by Visiting the Bank Branch:

  • Download the Home Loan application form from the bank's website
  • Fill it duly and submit the complete form along with the required photographs
  • Make sure you check the list of documents and submit them along with the application
  • Once the application is submitted, it is internally verified at the bank
  • Post verification, the applicant is called for a personal interview at the bank
  • After this, the bank conducts property valuation, inspection, and title clearance
  • Once all this is complete, the bank issues the sanction letter following which the loan is disbursed.

Steps to Apply for Dhanlaxmi Bank Home Loan through MyMoneyMantra:

  • Open the website mymoneymantra.com
  • Go to the Personal Loan page mentioned under Loans tab and fill in the required details
  • Select your preferred lending partner to apply instantly
  • Once the MyMoneyMantra team gets your details, they will review them and get in touch with you at the earliest.
  • An expert will understand your needs from the loan, your commitments, other financial liabilities, etc. Accordingly, you will be guided across different loan parameters such as loan quantum, tenure, and EMI.
  • The MyMoneyMantra team will guide you through the whole process of application form filling, documentation, and verification. There will be doorstep assistance throughout the process at your convenient time right up to the stage of loan disbursement.
  • You can choose to opt for other assisted services as well from theMyMoneyMantra team to manage your finances well.

Other Products Offered by Dhanlaxmi Bank

The bank also offers the following range of products and services:

Loan Against Property

Commercial Property Loan

Lease Rental Discounting

New Car Loans

Used Car Loans

Commercial vehicle loan

Construction equipment loan

Personal Loan

Gold Loan

Loan Against Securities

Education Loan

Business Loan

Industrial Advance

Trade Advance

Import Export Assistance

Agriculture Assistance

NRI Property Loans

Kissan Vahana

Agri Gold Loan

Micro Credit - MFI

Micro Credit - SHGs

Working Capital Facilities

Trade Facilities

Capacity Expansion

Kissan Card

Credit Card

Debit Card

Gift Card

Savings Account

Current Account

Corporate Salary Account

Account & Deposit

Money Trasfer

Term Deposits


Forex & Trade Services

Depository Services

Locker Facilities

Forex Services

Cash Management Services

Mobile Banking

Online Services

How to Calculate Dhanlaxmi Bank Home Loan EMI?

Formula to calculate

To calculate the Dhanlaxmi Bank Home Loan EMI, use the formula given below:

P*r* (1+r)^n/([(1+r)^n]-1)

In this formula,

P = loan amount which you want to borrow

R = the bank's rate of interest on the loan

N = the repayment loan term (in months and not years)

MyMoneyMantra EMI Calculator

If you want a faster and more reliable method of calculating the Dhanlaxmi Bank Housing Loan EMI, you can use the MyMoneyMantra EMI Calculator. Simply fill in the different variables into the calculator (loan amount, rate of interest, and tenure) and press 'Calculate' to arrive at the EMI, which you will have to pay. If you want to come to a more favourable EMI, you can easily make changes to the loan amount or the tenure to figure out the EMI that suits you best.

What to consider while calculating the EMI?

Once you have calculated the EMI, it is important to consider factors such as:

  • Your monthly expenses, liabilities, and responsibilities in the short run as well as the long run.
  • The amount that you will be able to pay comfortably without having to cut corners or end up in further debt.

It is important to consider these points to avoid delay or failure to repay the monthly instalments and end up paying penalties or borrow greater amounts to meet everyday needs.

Dhanlaxmi Bank Home Loan - Processing Fees & Charges

Fees and charges Amount

Processing fee

1% of the  loan  amount (minimum of 10,000) + service tax

Non-refundable processing fee which is to be paid at the time of application

  • For loan amount up to 20 Lakhs: 3,500 + service tax
  • For Loan amount more than 20 Lakhs: 5,000 + taxes

NOC issuance charges


  • For the first NOC: Nil
  • For subsequent NOCs: 500 +  service tax

Late payment charges


3% per month

Cheque swap charges


500 + service tax

Bounced Cheque charges

500 + service tax

Facility statement charges


  • For   1 statement each half-yearly: Nil
  • For subsequent statements: 500 + service tax

Charges for changing EMI cycle

500 + service tax


Charges for documents retrieval

500 + service tax


Charges on foreclosure statement

200 + service tax


Facility cancellation charges

   2,000   +   service   tax   +   interest   charges   from the date of disbursement till cancellation request.

Charges for changing interest rate mode from floating to fixed and vice versa (if permissible by the bank)

3%  of the loan outstanding + service tax

Insurance premium

As per the actuals

Creation of charge with ROC

As per the actuals

Legal, repossession, and incidental Charges

As per the actuals

Customer credit information report charges

  • 200 per report for individual customers
  • 750 per report for  non-individual customers

Stamp duty and registration charges

As per the actuals

Charges on escrow account

  • 10,000 + service tax per annum  
  • Charges for the first year will be payable at the time of disbursement and the subsequent charges will be paid at the beginning of each financial year.

Charges on part-prepayment of loan

  • Part-prepayment is allowed after 6 months from first disbursement date.
  • Part-prepayment amount must be minimum 50,000 and maximum 25% of the outstanding loan at the beginning of the financial year. 
  • One payment allowed every financial year
  • All part-prepayments done 12 months before the foreclosure of the loan are chargeable at the applicable foreclosure charges at the time of foreclosure.

Charges on loan foreclosure

Nil w.e.f. 01.02.2012

Dhanlaxmi Bank - Customer Care

For any of your queries related to products and services offered by the Dhanlaxmi Bank contact them at their customer care number:

+91- 0487 6613000

Alternatively, you can also write to them at customercare@dhanbank.co.in

Registered & Head Office

Dhanlaxmi Bank Ltd.

Dhanalakshmi Buildings, Naickanal, Thrissur - 680001


Phone: 91-487-6617000

FAQs on Dhanlaxmi Bank Housing Loan

Who can take a Home Loan from Dhanlaxmi Bank?

Dhanlaxmi Bank Home Loans are available to salaried individuals working in government or private sector. It is also available to NRIs, pensioners, self-employed professionals, and businesspersons.

What is the maximum loan amount that can be availed against the value of the property?

It is possible to get up to 80% finance for the property's market value; however, the same is assigned based on the applicant's income.

What is the maximum loan tenure for which I can get a loan from Dhanlaxmi Bank?

Dhanlaxmi Bank offers loans for a minimum of three years and a maximum tenure of 30 years. However, the loan tenure also depends upon the age of the borrower. A salaried borrower must not be more than 60 years old at the time of loan maturity and a self-employed borrower must not be more than 65 years old at the time of loan maturity.

If an individual does not possess documented finances, however, he or she has the capacity to repay the loan, is it possible to get a Dhanlaxmi Bank Home Loan in this case?

The Dhanlaxmi Bank offers several options for Home Loans, under those there is the surrogate income-based loan and the income-based loan. Dhanlaxmi Bank is able to offer these loans based on its knowledge of different businesses and the subsequent effect they have on your loan repaying ability.

Is a co-applicant required for a loan from Dhanlaxmi Bank?

Yes, Dhanlaxmi Bank requires all loans to be applied by co-applicants. In case the property is a joint ownership property, then the co-owners will have to also sign as co-applicants to the loan. However, if it is a single ownership property, then a family member of the applicant will have to sign as co-applicant.

Is it possible to prepay my Dhanlaxmi Bank Home Loan?

Yes, it is possible to pay your Dhanlaxmi Bank Home Loan, anytime after six months of the final loan disbursement. However, if you want to foreclose the loan, there are charges applicable on the same.

What are the Dhanlaxmi Bank Home Loan foreclosure charges?

The Dhanlaxmi Bank Home Loan comes with Foreclosure charges on whatever is the outstanding loan amount when the loan is being foreclosed.

  • If the loan is foreclosed within 12 months from the first disbursement of loan: 5% + taxes
  • If the loan is foreclosed within 12-24 months from the first disbursement of loan: 3% + taxes
  • If the loan is foreclosed after 24 months from the first disbursement of loan: 2% + taxes

Is it possible to make part-prepayment of my Dhanlaxmi Bank Home Loan?

Yes, it is possible to make part-prepayment of your Dhanlaxmi Bank Home Loan. However, there is a minimum of 50,000 at least that you must pay and that too after six months from the first disbursement of the loan. You can make part-prepayment only once every financial year provided at least 25% of your loan amount is outstanding as balance amount at the time of the request being made. Any part payment made within a span of a year before you foreclose your complete loan will be levied with the same charges as of any foreclosed loan at the time when you are closing your loan account.

Do I get any tax benefit on my Dhanlaxmi Bank Home Loan?

Yes, you can avail a tax exemption on your Dhanlaxmi Bank Home Loan on principal as well as interest payments.

What are some of the ways to repay my Dhanlaxmi Bank Home Loan?

It is possible to pay your Dhanlaxmi Bank Home Loan conveniently through post-dated cheques or through Electronic Clearing System (ECS).

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