Urban Money

Deutsche Bank Home Loan Calculator

  • 5 Lac
  • 20 Cr
Years
  • 5
  • 30
%
  • 6
  • 20

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

Since its inception in India, Deutsche Bank has been offering quality products to ease banking-related activities. One such product is the Deutsche Bank home loan EMI calculator. This online tool helps an individual to calculate their EMIs on home loans.

Deutsche bank offers home loans up to 75% of the value of the property. Even though the Deutsche Bank housing loan interest rate has not been disclosed, the bank calculates interest rates on the payable amount, thus reducing the interest rate with each EMI.

This guide lets you know more about the Deutsche Bank home loan calculator.

What are Deutsche Bank Home Loans EMI Calculator's Key Features and Benefits?

The key features and benefits of the Deutsche Bank home loan EMI calculator are explained below:

  • Using the Deutsche Bank housing loan calculator, users can compare EMIs at various tenures. One can also compare the home loan interest rates offered by different schemes to find the one that best fits the applicant's budget. The calculator allows the user to investigate and calculate the repayment amount on a manageable home loan.
  • The Deutsche Bank home loan calculator is a free tool that can be found online. Users can quickly enter the required values into the calculator and compute the EMI amount from the comfort of their own homes.
  • This calculator is an AI-powered tool with a simple interface that even inexperienced users can use. It is preferable to manual calculations, which are prone to mistakes and inaccuracies.

How Deutsche Bank Home Loan Calculator Works & Formula?

The Deutsche Bank home loan calculator instantly calculates the EMI amount on a home loan. The user can use the calculator from the comfort of their own home. They must enter their desired values in the following fields.

  • Loan Amount or Principal Amount
  • Interest Rate
  • Tenure

The formula used by the Deutsche Bank home loan EMI calculator is given below. The same formula can be used for a manual calculation.

EMI= [P x R x (1+R)^N]/[(1+R)^N-1]

Here,

  • ‘P’ is the Principal amount
  • ‘R’ is the interest rate
  • ‘N’ is the period in months

How does EMI calculation help in planning the home purchase?

The Deutsche Bank Home Loan EMI calculator helps users plan their purchases in the following ways.

  • It provides an accurate estimate of the loan's EMIs.
  • If the user can review the EMIs, they will be able to budget their loan better.
  • Users can enter multiple values into the calculator to compare different interest rates and tenures.
  • The Deutsche bank home loan calculator provides precise and immediate results.

Factors Affecting Deutsche Bank Home Loan EMI

Equated Monthly Instalment (EMI) is a fixed amount that a borrower is required to pay to the lender on a specific date each month. The following factors affect Deutsche Bank home loan EMI.

Rate of Interest

Since the interest rate is one of the factors required to calculate the EMI, any fluctuation directly impacts the Deutsche Bank home loan EMI. A floating interest rate can positively or negatively impact your home loan EMI. A floating rate of interest is more convenient if your income is flexible. Furthermore, when bank rates fall, it can be a profitable option. Home loan interest rates are dynamic due to changes in the RBI's interest rates as well as changes in the international market.

Loan Tenure

The exact amount of the EMI is determined by the loan's tenure period. Although the EMI decreases as the loan term lengthens, the overall interest burden rises, making the loan more expensive. By adjusting your loan tenure, you can choose between a low EMI and a low overall borrowing cost.

Prepayment

If you have extra money and discover that the interest on your mortgage is higher than the return on your preferred investment, prepayment is the better option. However, before taking out a home loan, it is a good idea to learn about the prepayment penalties and other terms and conditions.

Down Payment

You will pay a certain amount as a down payment for a specific value of the flat or home. The more you pay as a down payment, the lower your loan requirement and, as a result, the EMI. There are norms such as paying 20% of the purchase price as a down payment, but if you can pay a larger amount upfront, your monthly burden will be lower.

Change in Lender

If you switch your loan to a different lender, you may be able to get a lower EMI. This is due to the fact that interest rates vary between lenders, and a home loan borrower has the option of looking for the most advantageous home loan product. There would be a specific paperwork process for shifting, as well as fees. The outstanding balance of the loan is transferred to the new lender when the loan is shifted and the new EMI arrangement begins.

Comparison of Deutsche Bank Home Loan EMI with other Banks

It is necessary to compare the interest rates on home loans offered by the Deutsche bank and other banks to choose the best fit. The following table draws the said comparison.

Bank/NBFC INR 30 Lakh or less INR 30 Lakh -. 75 Lakh INR 75 Lakh or more
SBI 8.75% - 9.50% 8.75% - 9.40% 8.75% - 9.40%
HDFC 8.65% - 10.35% 8.65% - 10.60% 8.65% - 10.70%
LIC Housing Finance 8.65% – 10.10% 8.65% – 10.30% 8.65% – 10.50%
ICICI Bank 8.75% - 9.85% 8.75% - 9.85% 8.75% - 9.85%
Kotak Mahindra Bank 8.65% onwards 8.65% onwards 8.65% onwards
PNB Housing Finance 8.75% - 13.00% 8.75% - 13.00% 8.85%-10.85%
Punjab National Bank 8.60% - 9.35% 8.55% - 9.25% 8.55% - 9.25%
Bank of Baroda 8.60%-10.35% 8.60%-10.35% 8.60%-10.60%
Union Bank of India 8.60% – 10.50% 8.60% – 10.70% 8.60% – 10.70%
IDFC First Bank 8.75% onwards 8.75% onwards 8.75% onwards
L&T Housing Finance 8.40% - 8.60% 8.40% - 8.60% 8.40% - 8.60%
Bajaj Housing Finance 8.70% onwards 8.70% onwards 8.70% onwards
Godrej Housing Finance 8.39% - 10.99% 8.39% - 10.99% 8.39% - 10.99%
Tata Capital 8.95% onwards 8.95% onwards 8.95% onwards
Federal Bank 8.60%-9.95% 8.60%-10.00% 8.60%-10.05%

Frequently Asked Questions (FAQs)

What happens if Deutsche Bank home loan EMI is missed?

Missing an EMI attracts penal charges of 24% per annum on the amount payable.

Can I change my housing loan EMI date for Deutsche Bank?

Yes, you can change your housing loan EMI date for Deutsche Bank.

How does your home loan repayment work in Deutsche Bank?

Home loan repayment can be made in the form of Equated Monthly Installments or EMIs in Deutsche Bank.

What is the rate of interest on housing loans in Deutsche Bank?

The Deutsche Bank housing loan interest rate is not disclosed by the bank.

What is the Deutsche Bank home loan processing fee?

Deutsche Bank home loan processing fee is 1% of the loan amount.

Why should I calculate Deutsche Bank housing loan EMI before taking a loan?

It is important to calculate Deutsche Bank housing loan EMI before taking a loan, as you will be aware of the monthly payments to be made.