Home Loan
Allow us to help you get a little closer to your perfect home
- Loan amount up to Rs. 15 crores
- Attractive rate of interest
- Choice between fixed and floating rates
Apply Now | SMS HL to 561615
Download loan application form | Schedule of charges | Download loan interest certificate | Download loan agreement
Overview
Benefits
- Higher Loan amounts
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Depending upon the value and type of your property, you can get a loan up to Rs. 15 crores*.
- Maximum value out of your property
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We provide loan up to 80% of the current value of the property loan.
- Easy documentation for faster approvals
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It is easy to apply for a home loan as the documentation process is simple and friendly, leading to a quicker processing of your application.
- Benefit with Balance Transfer option
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With home loans you benefit when you transfer your home loan from one bank to another. If you are paying a higher interest rate on your existing home loan, you have the option of transferring the outstanding balance of the existing loan to Deutsche Bank at the current interest rates.
- Pay less with interest calculated on a daily reducing balance
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Why should you pay interest on the amount you have already repaid? With your home loan interest is calculated only on the outstanding loan amount, which reduces every time you pay off your EMIs or make any pre-payments. This lowers your effective interest amount significantly.
- Easy eligibility criteria for easy approvals
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Both salaried and self-employed professionals can apply for a home loan. The loan amounts are decided on the basis of repayment capacity and other factors like income, age, qualifications, number of dependents, assets, liabilities, savings history, stability and continuity of occupation.
- Flexible tenure
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You can choose a repayment plan, which is comfortable for you. Our loan tenor options ranges from 5 years to
20 years. - Insurance Plans for your Home Loan
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We can provide you exclusive insurance plan** that can cover your loan in the face of any unforeseen event happening to your life. In such foreseen events, your family will have the support of the insurance cover to pay for the outstanding loan, without being burdened by the loan EMIs.
Eligibility
| Eligibility criteria | Salaried | Self-employed |
|---|---|---|
|
Minimum Age |
23 years |
23 years |
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Maximum Age |
65 years or retirement, whichever is earlier |
65 years |
|
Minimum Gross Annual Income (Rs.) |
500,000 |
500,000 |
Documentation
Keeping your convenience in consideration, we ask you for minimal mandatory documents for the sanctioning of your Loan. We require the following documents to sanction your Loan along with the duly completed application form:
| Documentation | Salaried | Self-employed |
| Financials |
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| Photo Identity (any one) |
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|
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Proof of Address (any one) |
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|
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Proof of Signature (any one) |
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| Proof of Age (any one) |
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Frequently asked questions
- How do you calculate the loan amount eligibility?
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The loan amount depends on your repayment capability and is restricted to a maximum of 80% of the agreement value or the market value whichever is lower. Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependants, spouse's 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.
- What are the loan tenure options?
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You have the option of selecting a term you are comfortable with, ranging from 5 to 20 years, provided the term does not extend beyond your reaching 65 years of age or retirement age, whichever is earlier.
- Are there any administrative charges collected for processing the file? Are the adminitrative charges refundable?
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Please check the schedule of charges section for the quantum of administrative charges to be collected.
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.
- What interest rates do you offer?
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For information on the interest rates offered, please SMS HOME to 561615 and we will get back to you with details. You can also call us on 1860 266 6660#.
# Customers outside India need to dial +91 22 6601 6660. Customers in Mumbai can also call at 6601 6660. Call charges apply.
- How is the interest charged/calculated?
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Home Loans have two schemes
- Fixed Rate Home Loans
- Floating Rate Home Loans.
If you opt for a Floating Rate Home Loan, the interest rate would be linked to the Deutsche Bank Base Rate. Under the Fixed Rate Home Loans the rate applicable on the date of disbursement remains fixed for the duration of the fixed period.
- Do I have to pay any additional charges?
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Please refer Schedule of Charges for information on Rates & Fees.
- I am interested, how do I apply?
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You can approach us in any of the following ways:
- Apply online
- Write to us on premium.care@db.com
- SMS HOME to 561615
- Call us at our 24-hour Customer Care Centre at 1860 266 6660#
- Walk into any of our branches*
* Facility not availble at Moradabad, Salem, Vellore and Kolhapur branches.
# Customers outside India need to dial +91 22 6601 6660. Customers in Mumbai can also call at 6601 6660. Call charges apply.
- Who can be the co-applicants for the loan?
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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.
- What are the various types of Home loans that Deutsche Bank provides?
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- Home Loan on fully completed or under-construction properties
- Home Improvement Loan
- Home Extension Loan
- Balance Transfer
- Home Loan for NRI
- What security/collateral do I have to provide?
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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.
- Can I prepay my loan?
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Yes, you can make your prepayment in either part or full. There is no charge on part prepayment. Please refer to the schedule of charges for further details.
- Do I need to open an account with Deutsche Bank for availing and/ or servicing the loan?
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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.
- What are the stages involved in taking a loan?
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There are three main stages:
- Application - Whereby you submit a completely filled in application with all necessary documents.
- Sanction - Whereby you get an approval for a specific loan amount based on the value of your property and repayment capabilities.
- Disbursement - Whereby the loan amount is disbursed.
- What are the various types of loans that Deutsche Bank Home Loans provides?
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- Home Loans on fully completed or under-construction properties
- Home Improvement Loan
- Home Extension Loan
- Balance Transfer
- Top-Up Loan
- Home Loan for NRI
- What is a Monthly Reducing balance?
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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.
- When can I apply for a loan?
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The moment you decide to buy a home, you can put in your application for a home loan. Yes, you can apply for a home loan even before you have selected the property. The loan amount would be sanctioned or approved for you, based on your repayment capability.
- When will the loan be disbursed?
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Your loan will be disbursed on:
- Your identification and selection of the property
- Submission of the legal documents
- Legal and technical clearance of the property
- Investment of your own contribution towards the property purchase
- What is an amortization schedule?
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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.
- Can I get IT certificates in the name of both the Applicant and co-Applicant separately?
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As per the IT rules only one certificate can be issued for a home loan and hence one certificate will be issued in the name of both applicant and co applicant.
- When is the IT certificate issued?
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The IT certificate will be issued at the end of a financial year. You can expect to receive your copy of the IT certificate in the month of April or May of every year during the loan period.
- How can I get the tax benefit during the year?
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You can request for a provisional IT certificate that can be issued any time during the course of the year.
- Can I avail the Top-Up loan facility on my Home Loan?
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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.
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:
- Furnishing of home
- Consumer durable
- Childs education
- Daughters marriage
- Family holiday
- Buy Vehicle
- Any other personal requirement of the borrower provided it is not speculative or illegal in nature.
- How is the loan repaid?
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All loan repayments are done via Equated Monthly Instalments (EMI).
- What is an EMI?
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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.
- How is the EMI paid?
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The EMI is to be paid every month through Post-dated Cheques (PDCs), Standing Instructions (SI) or Electronic Clearing System (ECS). If you are opting for PDCs, then you will have to provide 36 PDCs upfront.
- What if a PDC bounces?
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In the case of a bounced cheque or delayed payment, charges and outstanding dues will be charged as per the prevailing company policy.
- What is pre-EMI interest?
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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.
- Do I get a tax benefit on the loan?
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Yes. Resident Indians are eligible for certain tax benefits on principal and interest components of a loan under the Income Tax Act, 1961.
Interest Rate
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) - How will I be intimated if my loan has got Sanctioned / Rejected?
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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.
*Conditions Apply. Approval of home loan shall be at the sole discretion of Deutsche Bank AG and subject to execution of requisite legal documents and credit checks. Deutsche Bank reserves the right to request for such documentation and information as it deems necessary to process the loan application.
**All insurance products are underwritten by the respective insurance company and are subject to the terms and conditions of the relevant policy issued by that insurance company. Deutsche Bank AG, India (“Deutsche Bank”) is a licensed corporate agent of Birla Sun Life Insurance Company Limited, Max Bupa Health Insurance Company Limited, Aditya Birla Health Insurance Company and HDFC ERGO General Insurance Company Limited under the composite license number CA0020.
