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For Dhanlaxmi Bank home loans in 2025, interest rates are competitive and influenced by factors like the repo rate linked benchmark. Floating rate options start at 8.70% p.a. and can go up to 9.50% p.a., depending on the borrower's profile and loan amount. These rates are typically tied to the Marginal Cost of Funds based Lending Rate (MCLR), offering flexibility as market conditions change. Fixed rate home loans are available from 9.00% p.a. to 10.00% p.a., providing stability against interest rate fluctuations. The annual percentage rate (APR) incorporates additional costs, potentially ranging from 9.00% to 10.50% when including fees.
Processing fees are charged at 0.50% of the loan amount plus GST, with a minimum of ₹5,000 and a maximum cap of ₹20,000. Prepayment charges apply differently: for floating rate loans, there are no penalties if prepaid from own sources, but a 2% fee may apply if refinanced. Fixed rate loans incur a 2-3% prepayment charge on the outstanding amount. Foreclosure charges are similar, often 2-4% for early closure within the first few years.
The Dhanlaxmi Bank Home Loan EMI Calculator is a user-friendly tool to estimate monthly repayments. To use it, input the principal loan amount (e.g., ₹50 lakhs), the loan tenure in years or months (up to 30 years), and the applicable interest rate, such as a floating rate of 8.70% p.a. The calculator computes the Equated Monthly Installment (EMI) using the formula: EMI = [P × r × (1+r)^n] / [(1+r)^n - 1], where P is principal, r is monthly interest rate, and n is the number of installments. It also shows the total interest payable and amortization schedule, helping borrowers assess affordability based on income eligibility.
Eligibility for Dhanlaxmi Bank home loans requires applicants to be aged 21-65 years at loan maturity. Income eligibility starts at a minimum gross monthly income of ₹25,000 for salaried individuals and ₹3 lakhs annual income for self-employed. A strong CIBIL score of at least 700 is crucial, as it impacts approval and interest rates. Employment type matters—salaried employees need 2 years of experience, while self-employed require 3 years in business. The loan-to-value ratio (LTV) is up to 90% for loans under ₹30 lakhs and 80% for higher amounts, ensuring the property value covers the loan adequately.
Dhanlaxmi Bank offers loan tenures from 5 to 30 years, allowing borrowers to choose based on repayment capacity and age. Shorter tenures reduce total interest but increase EMI, while longer ones ease monthly burdens. Repayment options include flexible modes like post-dated cheques, ECS, or online transfers. Prepayment is flexible for floating rate loans with no charges after 6 months, promoting early debt reduction. Foreclosure is permitted after 12 months, with potential charges of 2-4% on the principal outstanding for fixed rate options, subject to RBI guidelines on repo rate linked loans.
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