Financial urgency and requirements have always been around. Everyone needs financial assistance at some point or the other. Fortunate are the ones who have an asset in their name that they can use to benefit from. Real estate assets act as a great tool in availing various bank loans and financial services from banks and financial institutions. There are a few well-established private-sector commercial banks that offer an array of financial services with attractive and lucrative benefits for their customers. One such bank is the DCB private sector bank which comes with a great Loan Against Property (LAP) with affordable interest rates, flexible tenures, and feasible loan amounts. In this piece, read about the DCB Bank LAP and the DCB Bank Loan Against Property EMI Calculator, which is a great utility tool for the calculation of monthly expense structure.
Why Should You Use the DCB LAP EMI Calculator?
While considering taking the DCB Bank LAP product, customers should very well benefit from using a DCB Bank LAP EMI Calculator. This is a great tool that is instrumental in computing real-time outcomes of taking a loan. Here, a user will gain clarity on the following fronts.
- Customers using the DCB Bank Loan Against Property will be able to pre-assess the expense structure.
- This can be beneficial in anticipating whether or not a particular loan plan is feasible for their needs.
- Customers can analyse their affordability factor with the help of the DCB Bank Loan Against Property EMI Calculator.
- More often than not, manual calculations are prone to errors which is a waste of time and effort. With the DCB Bank LAP calculator, one can save time and effort as the tool gives real-time results of the particulars entered.
Factors Affecting DCB Bank Property Loan EMI
DCB Bank LAP EMIs are always the result of a few factors. The EMIs can fluctuate as per adjustment in the parent factors. Some of the factors that directly and indirectly affect the DCB Bank Loan Against Property are as follows.
- Loan Tenure - The duration of the loan is one of the prime factors that affect DCB Bank Loan Against Property EMI. The longer the duration of the loan, lower the EMI amount.
- Loan Interest Rate - Interest plays an instrumental role in determining the EMI calculation. As the interest rate increase, the monthly interest payment will also increase.
- Collateral Value - Particularly with the Loan Against Property, the value of the property makes a lot of difference pertaining to the sanctioning of the loan amount. Generally, banks only disburse a certain percentage of the property value which makes the EMIs a variable value as per the amount.
Comparison of DCB Bank Loan Against Property EMI with other Banks
It will be beneficial for customers to shop around a bit for prevailing interest rates across various banks. This can give them a perspective regarding the interest rates and what works as per their financial capacity. However, it should be noted that some banks might offer lower EMIs but the services and other features may not be ideal for the customer. As DCB Bank Loan Against Property interest rates ranges from 8.25% to 12.72% for salaried persons, 8.70% to 18% for self-employed borrowers, and 12.72% to 20.60% for firms and companies; users can compare the DCB Bank Loan Against Property rates with other banks. Here is a table showing the interest rates offered by various banks.
|Name of the Bank||Interest Rate||Loan Amount INR 15 Lakhs||Loan Amount INR 25 Lakhs||Loan Amount INR 50 Lakhs|
|IndusInd Bank||7% per annum||INR 11,629||INR 19,382||INR 38,765|
|South Indian Bank||7.50% per annum||INR 12,084||INR 20,140||INR 40,280|
|Citi Bank||7.95% per annum||INR 12,500||INR 20,833||INR 41,667|
|HDFC Bank||8% per annum||INR 12,547||INR 20,911||INR 41,822|
|DBS Bank||8.15% per annum||INR 12,687||INR 21,145||INR 42,290|
|PNB Housing Finance||8.50% per annum||INR 13,017||INR 21,696||INR 43,391|
|Bajaj Home Finance||8.10% per annum||INR 12,640||INR 21,067||INR 42,134|
|South Indian Bank||7.50% per annum||INR 12,084||INR 20,140||INR 40,280|
|IDFC First Bank||7.00% per annum||INR 11,629||INR 19,382||INR 38,765|
DCB Bank Loan Against Property Amortisation Calculator
With the assistance of an amortisation table, customers can accurately forecast the expense structure from their DCB Bank Loan Against Property rates. The DCB Bank LAP Calculator helps create a formal payment pattern that users can use to anticipate what their monthly expenses will include. This can be prudent as future financial planning can be instrumental in smoothly transitioning with a loan in hand.
For example, assume that DCB Bank LAP is offered at a 7% interest rate for an amount of INR 30 Lakhs for a tenure of 15 years. The EMI structure will look like the following.
|Year||Interest||Principal||EMI Amount||Outstanding Balance|
|2022||INR 69,667||38,192||INR 1,07,859||29,61,808|
|2023||INR 2,03,523||1,20,055||INR 3,23,578||28,41,735|
|2024||INR 1,94,845||1,28,734||INR 3,23,578||27,13,020|
|2025||INR 1,85,538||1,38,040||INR 3,23,578||25,74,890|
|2026||INR 1,75,559||1,48,019||INR 3,23,578||24,26,961|
|2027||INR 1,64,859||1,58,719||INR 3,23,578||22,68,242|
|2028||INR 1,53,385||1,70,193||INR 3,23,578||20,98,049|
|2029||INR 1,41,082||1,82,496||INR 3,23,578||19,15,553|
|2030||INR 1,27,890||1,95,689||INR 3,23,578||17,19,865|
|2031||INR 1,13,743||2,09,835||INR 3,23,578||15,10,030|
|2032||INR 98,574||2,25,004||INR 3,23,578||12,85,026|
|2033||INR 83,309||2,41,270||INR 3,23,578||10,43,756|
|2034||INR 64,867||2,58,711||INR 3,23,578||7,85,045|
|2035||INR 46,165||2,77,413||INR 3,23,578||5,07,632|
|2036||INR 26,111||2,97,647||INR 3,23,578||2,10,165|
|2037||INR 5,554||1,20,055||INR 2,15,719||0|
DCB Bank Loan Against Property Fees and Charges
DCB Bank Loan Against Property comes with an array of features and benefits thereby providing its customers with a much-needed solution to their financial needs. With the services offered, there are also a few charges and fees associated with the product. Here is a look at the DCB Bank LAP scheme fees and charges.
|Fee Type||Charges Applicable|
|Loan Processing Fee/Charges||Up to 2% of the loan amount, subject to a minimum of INR.5,000|
|Collection Charges||INR 100 plus applicable taxes per call and INR 250' plus applicable taxes per visit|
|Annual Maintenance Charges||Upto 1%|
|Part-prepayment & Full Prepayment||No charges would be levied for part prepayment up to a maximum of 25%|
|Re-Pricing Charges||Upto 1%|
|Penal Interest||3% per month|
|Cheque/ECS Swap Charge||INR 500|
|Property Document Retrieval Charge||INR 500|
|Cheque Bounce Charge||INR 750|
|Amortization Schedule||INR 100|
|Statement of Account||INR 100|
|Foreclosure Statement||INR 100|
|Duplicate 'No Objection Certificate||INR 100|
|Revalidation of 'No Objection Certificate'||INR 100|
|Provisional Income Tax Certificate||NIL|
|Final Income Tax Certificate||NIL|
|Change of Address||NIL|
|Loan Agreement Copy||INR 500|
|No Objection Certificate||NIL|
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Frequently Asked Questions (FAQs)
How much loan can I get against my property from DCB Bank?
DCB Bank Loan Against Property scheme comes with a lucrative loan amount range for its customers. The minimum eligible amount one can get is INR 2,50,000 whereas the maximum loan amount that can be sanctioned is INR 10 crores.
What is the interest rate of a loan against property in DCB bank?
DCB Bank Loan Against Property interest rates ranges from 8.25% to 12.72% for salaried persons, 8.70% to 18% for self-employed borrowers, and 12.72% to 20.60% for firms and companies.
How is the rate of interest on a loan against property calculated in DCB bank?
DCB Bank LAP interest rates are offered within the range of 8.50% to 20.60%. However, the bank thoroughly examines a customer’s profile, property value, and prevailing market rates before assigning a rate of interest.
What is the tenure of the LAP loan in DCB Bank?
DCB Bank offers its customers a maximum tenure of 15 years for the repayment of DCB Bank Loan Against Property.