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Dena Bank Home Loan

Dena Bank home loans are one of the most competitive loan products that you will find in the home loan market in India. Home loans offered by Dena Bank can truly work as a gateway to your dream home.

About Dena Bank Home Loans

Dena Bank Home Loans come to you under the brand name “Dena Niwas Housing Finance Scheme”. Dena Niwas Housing Finance Scheme is a loan for diverse needs altogether. You can avail this loan for any of the following purposes:

  • Constructing a house/flat
  • Purchasing a plot of land
  • Purchasing a house under construction
  • Purchasing a readymade house

With a Dena Niwas Housing Finance Scheme, you can also construct an attachment to your current residence or buy a home that is maximum 50 years old given that the residual life of the house exceeds 25 years. Furthermore, you can use this scheme for home improvement and maintenance purposes which comprise cost of furniture and fixtures, retiling, furnishing and POP (Plaster of Parris) works.

You can even use a Dena Niwas Housing Finance Scheme to switch from any home loan that you have taken from other financial institutions and banks.

Eligibility criteria for Dena Bank home loans

Given below are the eligibility criteria for Dena Bank home loans:

  • Resident or non-resident major individuals who have a steady source of income can qualify for these loans.
  • If you are a salaried individual, your age at the time of the maturity of the loan should be lower than your age of retirement .If you are a businessman, your age at the time of maturity of the loan should be less than 65 years.
  • The overall deductions will not surpass 60% of your gross income which include the loan installment for the proposed loan.
  • You can combine the income of your co-applicant or spouses with your income for the purpose of better eligibility.



How much can you borrow?

The maximum amount that you can borrow in the form of a Dena Bank home loan is as follows:

  • For purchasing/constructing a house - Up to Rs.200 lakhs.
  • For renovation/improvement - Up to Rs.10 lakhs.

Repayment terms of Dena Bank home loans

The repayment terms for paying off a Dena Niwas Housing Finance Scheme are as follows:

  • For renovation, maintenance and home improvement – the maximum repayment term is 10 years.
  • For purchasing a new house/flat/extension/construction – the maximum repayment term is 20 years
.
Security against Dena Bank home loan

Basic equitable mortgage of the flat/house/dwelling unit for which you’re availing the loan will work as security against the loan.

Margin for Dena Bank Home Loans

The margin for Dena Bank home loans is 20% of the loan amount.

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The installment will not include any processing fee or charges which are applicable as per the rules of finance providing Authorities.
 
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