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Deutsche Bank Home Loan Interest Rate
While availing for a home loan from a bank or any other financial institutions, you would be expected to pay them back in the form of EMIs along with an interest rate. This interest rate varies from bank to bank. Deutsche Bank provides you with home loans for home extensions, home improvement and for homes that are yet to be constructed and for homes or flats that are ready to live in.
Deutsche Bank Home Loan Interest Rate
The Marginal Cost of Funds based Lending Rate (MCLR) for Deutsche Bank, Indian branches is as below:
| Tenure | MCLR (per annum) |
|---|---|
| Overnight | 8.15% |
| One month | 8.60% |
| Three months | 9.60% |
| Six months | 9.60% |
| One year | 10.10% |
How is the interest charged or calculated?
Home loans at Deutsche Bank have two schemes:
- Fixed Rate Home Loans
- Floating Rate Home Loans
If you are opting for a Floating Rate Home Loan, the interest rate will be linked to the Deutsche Bank Base Rate. The rate applicable on the date of disbursement remains fixed for the duration of the fixed period under the Fixed Rate Home Loan.
Deutsche Bank Home loan information
- Depending on the type of loan availed and the value of the property that is being bought, up to Rs. 15 crores can be borrowed.
- The quantum of the loan is up to 80% of the value of the property.
- Documentation is simple and easy, leading to a quicker processing of the application submitted.
- You can benefit from transferring your home loan from one bank to another. While transferring the loan, if you had been paying a higher interest rate with the previous bank, you can transfer your outstanding balance to Deutsche Bank and pay the current interest rates.
- Loan tenure options ranges from 5 years to 20 years.
- Including your spouse as a co-applicant for the loan will enhance your home loan amount as their income will be included.
- Types of Home Loans
- Home loan on completed or under-construction properties
- Home Improvement Loan
- Home Extension Loan
- Balance Transfer
- Home Loan for NRI
- Top-Up Loan
Eligibility Criteria of Deutsche Bank Home Loan
| Salaried | Self-employed | |
|---|---|---|
| Minimum age | 23 years | 23 years |
| Maximum age | 65 years/retirement whichever is earlier | 65 years |
| Minimum Gross Annual Income | Rs. 5,00,000 | Rs. 5,00,000 |
Documentation required for Deutsche Bank Home Loan
Photo identity (any one)
- Valid passport
- Photo PAN Card
- Voter’s ID Card
- Valid Driving License
- Job card issued by NREGA duly signed by an officer of the state government
- Aadhar Card or Letter issued by the UIDAI
Proof of address (any one)
- Valid passport
- Voter’s ID Card
- Valid Driving License
- Job card issued by NREGA duly signed by an officer of the state government
- Aadhar Card or Letter issued by the UIDAI
Proof of Signature (any one)
- Valid Passport
- Voter’s ID card
- Driving License
- PAN Card
Proof of Age (any one)
- Valid passport
- PAN Card
- Birth Certificate
- Voter’s ID Card
- Valid Driving License
- Job card issued by NREGA duly signed by an officer of the state government
- Aadhar Card or Letter issued by the UIDAI
Financials
Salaried:
- Salary slip of last three months
- Form 16 or ITR
- HR certification showing all allowances and reimbursements (if any)
- Copy of bank statements for last 6 months
- Repayment details on any existing loans or loan closure letter
Self-employed
- Income tax returns for the last 2 years
- Profit and Loss Account along with computation of Income and Balance Sheet for last 2 years, duly certified by a CA
- Proof of business continuity for last 3 years
- Copy of bank statement for the last six months
- Short note on the nature of business, form of organization, clients and suppliers, etc.
Eligibility Criteria of Deutsche Bank Home Loan
| Fee Type | Charges |
|---|---|
| Administration fees | Up to 1% of the loan amount disbursed |
| Switch fee/Repricing fee | Up to 0.5% of principal outstanding |
| Transaction fee | Rs. 500 |
| Default interest rate | 24% per annum |
| Document retrieval charges | Rs. 500 |
| Taxes and other government levies | As applicable |
FAQs: Deutsche Bank Home Loan Interest Rate
1. Can we transfer home loans from another bank to Deutsche Bank?
You can benefit from transferring your home loan from one bank to another. While transferring the loan, if you had been paying a higher interest rate with the previous bank, you can transfer your outstanding balance to Deutsche Bank and pay the current interest rates.
2. What is the maximum amount that can be borrowed?
Depending on the type of loan availed and the value of the property that is being bought, up to Rs. 15 crores can be borrowed.
3. What is the minimum income for being eligible for a home loan?
The Minimum Gross Annual Income for salaried and for self-employed individuals is Rs. 5,00,000.
4. What are the loan tenure options provided?
Loan tenure options range from 5 years to 20 years.
5. Can there be co-applicants when availing a home loan?
Yes, including your spouse as a co-applicant for the loan will enhance your home loan amount as their income will be included.
Deutsche Bank Home Loan Interest Rate - Customer Reviews
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