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Dhanlakshmi Bank Ltd Home Loans Rates
Are you looking for some really attractive home loan rates that will make your task of buying a good home easy? Dhanlakshmi Bank can offer a solution for you. Dhanlakshmi Bank Ltd home loans rates are one of the best rates that you can get from the Indian home finance market.
About Dhanlakshmi Bank Ltd home loans rates
Dhanlakshmi Bank Ltd home loans are ideal home buying options for borrowers and the loans come with a host of features and attractive interest rates. The rates are really competitive and affordable to suit the budget of every borrower. The information given below will help you get a better idea about Dhanlakshmi Bank Ltd home loans rates.
The base rate of Dhanlakshmi Bank is 7% per annum w.e.f. 1st July, 2010.
Documents necessary for Dhanlakshmi Bank home loans
Listed below are the documents that you need to furnish in order to apply for a Dhanlakshmi Bank home loan:
- For salaried employees, pay certificate or pay recovery authorization letter from the employer
- Most recent income tax return filed/income tax assessment order/certificates supplied by revenue authorities
For Non Resident Indians/Persons of Indian Origin, the following supplementary proofs will need to be furnished:
- Passport with VISA embossed properly authenticated/certified
- Legitimate job permit
- Job contract properly authenticated/certified
- Copy of continuous discharge certificate or CDC (for Merchant Navy)
- Particulars of earlier employment
- Particulars of bank account for the past 6 months
- Power of Attorney (POA) properly authenticated by a notary
- Residential/address proof
- Income proof for self employed individuals
- Copy of identity card/labour card properly authenticated/certified
- Pay slip/certificate appropriately authenticated
Repayment period for Dhanlakshmi Bank home loans
- Maximum period for repayment is 20 years which includes the opening repayment holiday. For purchase of a plot, the maximum repayment period is 10 years and no preliminary repayment holiday is permitted
- The maximum preliminary holiday period allowed is 18 months
- Installment payments will be received by Post Dated Cheques (PDCs) beforehand for every year
Privilege Home Loan launched by Dhanlakshmi Bank
Dhanlakshmi Bank, a prominent private sector lender in India, recently introduced the Privilege Home Loan. This is a special loan product, aimed at chosen employees of blue-chip companies, registered trusts, public sector units (PSUs) and societies.
The home loan rates for this loan product are as follows:
- For loans taken for up to 5 years, the interest rate will be 9%.
- For loans taken for up to 5-10 years, the interest rate will be 10%
- For loans taken for more than 10 years, the interest rate will be 10.5%.
The rates will remain fixed for the first 3 years with a yearly readjustment clause from then on.
You can go for this Privilege Home Loan for construction or purchase of houses and flats. You can also use this loan for taking over home loans from other banks and financial institutions. The minimum amount of loan available is Rs.15 lakhs and the maximum amount of loan available is Rs.2 lakhs.
The maximum repayment term is 20 years.
Individuals falling in the age group of 21-55 years with a minimum gross monthly income of Rs. 40,000 (includes the income of the spouse) will qualify. The Privilege Home Loan is available at only 30 chosen branches of the bank.