Question 1

What is the minimum loan amount?

Accepted Answer

&lt;p&gt;The loan amount depends on your repayment capability and is restricted to a maximum of 75% of the total market value as applicable. Repayment capacity takes into consideration factors such as income, age, qualification, number of dependants, spouses income, assets, liabilities, stability, continuity of occupation and savings history. And, of course, our main concern is to make sure that you can comfortably repay the loan amount.&lt;/p&gt;

Question 2

What are the loan tenure options?

Accepted Answer

&lt;p&gt;You have the option of selecting a term you are comfortable with, ranging from 5 to 15 years, provided the term does not extend beyond your reaching 65 years of age or retirement age, whichever is earlier.&lt;/p&gt;

Question 3

Are there any administrative charges collected for processing the file? Are the adminitrative charges refundable?

Accepted Answer

&lt;p &gt;Please check the schedule of charges section for the quantum of administrative charges to be collected.&lt;/p&gt;
 &lt;p&gt;In the event of your loan getting declined, an amount of Rs. 2000 (or the fee paid) would be deducted towards loan processing charges and the balance amount would be refunded. No refund of administrative fees to be done if the loan is sanctioned.&lt;br&gt;&lt;/p&gt;

Question 4

What interest rates do you offer?

Accepted Answer

&lt;p&gt;For information on the interest rates offered, please SMS PROP to 561615 and we will get back to you with details. You can also call us on 18602666660#.&lt;/p&gt;&lt;p&gt;#Customers outside India need to dial +91 22 6601 6660. Customers in Mumbai can also call at +91 22 6601 6660. Call charges apply.&lt;br&gt;&lt;/p&gt;

Question 5

Do I have to pay any additional charges?

Accepted Answer

&lt;p&gt;&lt;u&gt;Click here&lt;/u&gt;&amp;nbsp;for schedule of charges for information on rates&amp;nbsp;and fees.&lt;/p&gt;

Question 6

What documents do I need to submit to avail a LAP?

Accepted Answer

&lt;p&gt;&lt;u&gt;Click here&lt;/u&gt;&amp;nbsp;to view documents required to avail&amp;nbsp;a loan.&lt;br&gt;&lt;/p&gt;

Question 7

I am interested, how do I apply?

Accepted Answer

&lt;p&gt;You can approach us in any of the following ways&lt;/p&gt;&lt;ul&gt;&lt;li&gt; &lt;u&gt;Apply Online&lt;/u&gt;&lt;/li&gt;&lt;li&gt;Write to us on premium.care@db.com&lt;/li&gt;&lt;li&gt;SMS PROP to 561615&lt;/li&gt;&lt;li&gt;Call us at our 24 hour Customer Care Centre at 18602666660#&lt;/li&gt;&lt;li&gt;Walk into any of our branches.&lt;/li&gt;&lt;/ul&gt;

Question 8

Who can be the co-applicants for the loan?

Accepted Answer

&lt;p&gt;You can include your spouse as a co-applicant for the loan and we shall include his / her income to enhance your home loan amount. Further, in case there are any other co-owners they also need to be co-applicants. Other than the spouse, please check with your home loan counsellor on the approved co-applicants for the loan.&lt;br&gt;&lt;/p&gt;

Question 9

What security / collateral do I have to provide?

Accepted Answer

&lt;p&gt;Typically the security for the loan is a first and exclusive charge of the property to be financed, by way of deposit of title deeds and / or such other collateral security as may be necessary. The title to the property should be clear, marketable and free from any encumbrances.&lt;br&gt;&lt;/p&gt;

Question 10

Can I prepay my loan?

Accepted Answer

&lt;p&gt;Yes, you can make your prepayment in either part or full. Please refer Schedule of Charges for charges on prepayment.&lt;br&gt;&lt;/p&gt;

Question 11

Do I need to open an account with Deutsche Bank for availing and / or servicing the loan?

Accepted Answer

&lt;p&gt;We will encourage you to start a banking relationship with us so that we will be able to offer host of other value added services, however opening an account with us is not mandatory.We will encourage you to start a banking relationship with us so that we will be able to offer host of other value added services, however opening an account with us is not mandatory.&lt;br&gt;&lt;/p&gt;

Question 12

What are the stages involved in taking a loan?

Accepted Answer

&lt;p&gt;There are three main stages:&lt;/p&gt;
&lt;ul&gt;&lt;li&gt;Application - Whereby you submit a completely filled in application with all necessary documents.&lt;/li&gt;&lt;li&gt;Sanction - Whereby you get an approval for a specific loan amount based on the value of your property and repayment capabilities.&lt;/li&gt;&lt;li&gt;Disbursement - Whereby the loan amount is disbursed.&lt;br&gt;&lt;/li&gt;&lt;/ul&gt;

Question 13

What are the various types of LAPs that Deutsche Bank provides?

Accepted Answer

&lt;ul&gt;&lt;li&gt;Loan Against Home&lt;/li&gt;&lt;li&gt;Loan Against Commercial Property&lt;/li&gt;&lt;li&gt;Loan for Commercial Property Purchase&lt;/li&gt;&lt;li&gt;Balance Transfer&lt;/li&gt;&lt;li&gt;Top-Up Loan&lt;br&gt;&lt;/li&gt;&lt;/ul&gt;

Question 14

What is a Monthly Reducing balance?

Accepted Answer

&lt;p&gt;An Equated Monthly Instalment (EMI) has 2 components, interest and principal. When the interest is calculated on monthly rests, the principal on which the interest is charged goes down every month. This results in a significant saving for the customer over the tenure of the loan.&lt;br&gt;&lt;/p&gt;

Question 15

Can I get a loan for commercial property, like offices etc.?

Accepted Answer

&lt;p&gt;Yes, we give loans to self-employed professionals for commercial property.&lt;br&gt;&lt;/p&gt;

Question 16

When will the loan be disbursed?

Accepted Answer

&lt;p&gt;Your loan will be disbursed on:&lt;/p&gt;&lt;ul&gt;&lt;li&gt;Your identification and selection of the property&lt;/li&gt;&lt;li&gt;Submission of the legal documents&lt;/li&gt;&lt;li&gt;Legal and technical clearance of the property&lt;/li&gt;&lt;li&gt;Investment of your contribution towards the property&lt;br&gt;&lt;/li&gt;&lt;/ul&gt;

Question 17

What is an amortization schedule?

Accepted Answer

&lt;p&gt;An amortization schedule is a table giving the reduction of your loan amount by monthly instalments. The amortization schedule gives the break-up of every EMI towards repayment interest and outstanding principal of your loan.&lt;br&gt;&lt;/p&gt;

Question 18

Can I avail the Top-Up loan facility on my LAP?

Accepted Answer

&lt;p&gt;A Top-Up loan can be availed for various personal requirement based on value of the property. It offers the customer additional funds against the security of the same property. To avail Top-Up loan, a vintage of at least twelve months is required with respect to the loan availed. The basic eligibility for a Top- Up loan is a good repayment track record.&lt;/p&gt;&lt;p&gt;A Top-Up loan can be availed for various personal requirement based on value of the property. It offers the customer additional funds against the security of the same property. To avail Top-Up loan, a vintage of at least twelve months is required with respect to the loan availed. The basic eligibility for a Top- Up loan is a good repayment track record.&lt;/p&gt;&lt;p&gt;An end use letter is essential, which needs to specify the purpose of your taking the additional Top-Up loan to be collected. The end use of Top-Up Loans can be:&lt;/p&gt;&lt;ul &gt;&lt;li&gt;Business need&lt;/li&gt;&lt;li&gt;Furnishing of home&lt;/li&gt;&lt;li&gt;Consumer durable&lt;/li&gt;&lt;li&gt;Child&rsquo;s education&lt;/li&gt;&lt;li&gt;Daughters marriage&lt;/li&gt;&lt;li&gt;Family holiday&lt;/li&gt;&lt;li&gt;Buy vehicle&lt;/li&gt;&lt;li&gt;Any other personal requirement of the borrower provided it is not speculative or illegal in nature&lt;br&gt;&lt;/li&gt;&lt;/ul&gt;

Question 19

How is the loan repaid?

Accepted Answer

&lt;p&gt;All loan repayments are done via Equated Monthly Instalments (EMI).&lt;br&gt;&lt;/p&gt;

Question 20

What is an EMI?

Accepted Answer

&lt;p&gt;An EMI refers to an Equated Monthly Instalment. It is a fixed amount which you pay every month towards your loan. It comprises of both, principal repayment and interest payment.&lt;br&gt;&lt;/p&gt;

Question 21

How is the EMI paid?

Accepted Answer

&lt;p&gt;The EMI is to be paid every month through Standing Instructions (SI) where repayment is through a Deutsche Bank Account or through National Automated Clearing House (NACH) for repayment from accounts held with other banks.&lt;br&gt;&lt;/p&gt;

Question 22

What if a EMI bounces?

Accepted Answer

&lt;p&gt;In the case of a bounced or delayed payment, charges and outstanding dues will be charged as per the prevailing company policy.&lt;br&gt;&lt;/p&gt;

Question 23

What is pre-EMI interest?

Accepted Answer

&lt;p&gt;In the case of part disbursement of the loan, monthly interest is payable only on the disbursed amount. This interest is called Pre-EMI interest (PEMI) and is payable monthly till the final disbursement is made, after which the EMIs would commence.&lt;/p&gt;&lt;table&gt;
&lt;thead&gt;&lt;tr&gt;&lt;th &gt;Category&amp;nbsp;&lt;/th&gt;
&lt;th &gt;Floating Interest Rate&lt;/th&gt;
&lt;/tr&gt;&lt;/thead&gt;&lt;tbody&gt;&lt;tr&gt;&lt;td&gt;&amp;nbsp;Home Loan&amp;nbsp;&lt;/td&gt;
&lt;td &gt;10.50% (Base rate +XX)&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td&gt;LAP&amp;nbsp;- Residential&amp;nbsp;&lt;/td&gt;
&lt;td &gt;13.00% (Base rate +XX)&lt;/td&gt;
&lt;/tr&gt;&lt;tr&gt;&lt;td&gt;LAP&amp;nbsp;- Commercial&lt;/td&gt;
&lt;td&gt;13.50% (Base rate +XX)&lt;/td&gt;
&lt;/tr&gt;&lt;/tbody&gt;&lt;/table&gt;

Question 24

How will I be intimated if my loan has got Sanctioned / Rejected?

Accepted Answer

&lt;p&gt;Decision shall be conveyed in writing within a maximum period of one month from the date of receipt of application. Date of application shall be once complete set of documents and required details are furnished to the bank.&lt;br&gt;&lt;/p&gt;

Category	Floating Interest Rate
Home Loan	10.50% (Base rate +XX)
LAP - Residential	13.00% (Base rate +XX)
LAP - Commercial	13.50% (Base rate +XX)