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Development Credit Bank Home Loans

You must have spent a lot of time sitting before your computer searching for home loans at affordable rates. Development Credit Bank has an array of home loans to cater to your home buying needs. Development Credit Bank home loans are ideal home financing means that are offered with attractive terms and flexible repayment periods.

About Development Credit Bank (DCB) home loans

Development Credit Bank home loans are secured loans. You can use a DCB home loan for the following purposes:

  • Purchasing a new house
  • Self construction
  • Balance transfer of current home loan with a supplementary amount for individual needs.
  • Purchase of a plot of land together with construction of house

Development Credit Bank home loans are offered to business professionals and salaried individuals, private limited companies as well as partnership firms. The committed relationship managers will know your needs and help you at every phase of the loan sanctioning procedure.

Features of Development Credit Bank home loans

  • Committed Relationship Managers
  • Loan amount available up to 85% of the property value
  • Flexible repayment terms of up to 20 years
  • Loan amounts varying from Rs.10 lakhs to Rs.3 crores
  • Home loan insurance at affordable premium
  • Minimum paperwork and fast processing
  • No penalties on partial prepayment

Tax benefits offered by Development Credit Bank home loans

Resident Indians will qualify for tax benefits on their home loan u/s 24 of the Income Tax Act, 1961 for payment of an interest amount of up to Rs. 150,000 per annum and under Section 80C of the Income Tax Act, 1961 for payment of the principal amount up to Rs. 100,000 per annum.



Eligibility criteria for Development Credit Bank home loans

Given below are the eligibility criteria for Development Credit Bank home loans:

1) Minimum Age:

Minimum age of the applicant should be 25 years at the time of sending the loan application (for salaried individuals and self employed professionals).

2) Maximum Age:

  • For salaried individuals Maximum age of the applicant should be 65 years or age of retirement, whichever comes in the first place at the time of loan maturity.
  • For self employed professionals - Maximum age of the applicant should be 65 years at the time of loan maturity.

3) Target section:

Loans are available for both self employed and salaried individuals and also to NRIs (Non resident Indians)/PIOs (Persons of Indian Origin) - salaried section only. Co-applicant is compulsory in all circumstances.

4) Minimum Income:

  • For Pune, Chennai and Hyderabad minimum income should be 2.5 lakhs per annum
  • For other areas - 3 lakhs per annum

5) Repayment Term

Loan repayment term ranges from 12 months (1 year) to 240 months (20 years).

6) Loan to Value Ratio

Maximum permissible LTV or Loan to Value Ratio is 85%.

Schedule of charges of Development Credit Bank home loans

Particulars Charges
Prepayment Penalties 1% on principal amount due along with service tax
Loan Processing fees 2%
Solvency Certificate NIL
No due Certificate NIL
Charges for switching from fixed to floating interest rate NIL
Charges for delayed payment of EMI 24% along with service tax
Charges for switching from floating to fixed interest rate NIL


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