Dhanlaxmi Bank Home Loan

Dhanlaxmi Bank Home Loan Highlights

Check Dhanlaxmi Bank home loan interest rates, eligibility, required documents, EMI details, and the application process. Apply now and get up to 100% funding.

Category	Highlights
Interest Rate	From 8.60 p.a onwards
Loan Amount	Up to 90% of the property value
Loan Tenure	30 Years
Processing Charges	1.00 % of loan amount
Foreclosure Charges	NIL

Dhanlaxmi Bank Home Loan Interest Rates

Dhanlaxmi Bank floating interest rates for both salaried and self-employed borrowers. Rates strating from 8.60 p.a onwards for Home Loans depending on borrower profiles and loan terms. You can choose a fixed rate or a floating rate, according to your financial situation.

Compare Home Loan Interest Rate Offered by Top Banks

Comparing home loan interest rates from leading banks helps you identify affordable financing options. Get a clearer view of each lender’s terms and choose the best home loan that matches your budget and financial goals.

Bank	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI Bank	8.00% p.a. onwards	8.00% p.a. onwards	8.00% p.a. onwards
HDFC Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards
LIC Bank	8.50% – 10.35% p.a.	8.50% – 10.55% p.a.	8.50% – 10.75% p.a.
ICICI Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards
Kotak Mahindra Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards
Punjab National Bank	8.50% – 11.05% p.a.	8.50% – 11.05% p.a.	8.50% – 11.05% p.a.
Bank Of Baroda	8.40% onwards	8.40% – 10.65% p.a.	8.40% – 10.90% p.a.
Bajaj Housing Finance	8.50% p.a. onwards	8.50% p.a. onwards	8.50% p.a. onwards
Axis Bank	8.75%-10.30% p.a.	8.75%-10.30% p.a.	8.75%-10.30% p.a.
Bank of India	8.40% p.a onwards	8.40% p.a onwards	8.40% p.a onwards
TATA Capital	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards

Dhanlaxmi Bank Home Loan Processing Fees

Dhanlaxmi Bank takes processing fees to cover the cost of reviewing your documents and assessing your loan application. 

Category	Processing Fees
Processing Fees (Home Loan)	1.00% of the loan amount
Non‐refundable processing fees	Up to Rs. 20 Lakhs: Rs. 3500 Above Rs. 20 Lakhs: Rs. 5000
Late payment charges	3% per month
Part prepayment Charges	Can be done after 6 months from date of first disbursement. Minimum of Rs. 50,000 and Maximum of 25% of the loan outstanding at the beginning of the financial year.

Dhanlaxmi Bank: Top Home Loan Schemes

Dhanlaxmi Bank provides a variety of home loan schemes tailored to meet different needs. These include Home Loans for property purchases, Top-Up Loans for additional financial needs, loans for NRIs and HNIs, Overdraft (OD) Loans for flexible funding, and loans for Home Renovation or Extensions. 

Dhanlaxmi Bank Home Loan

Dhanlaxmi Bank offers home loans tailored to make owning your dream home easier. With attractive interest rates starting from 8.60% p.a., loan amounts up to ₹10 Crore* , and flexible repayment tenures up to 30 years, it ensures affordability and convenience.

Dhanlaxmi Bank Home Extension Loan

With a Home Extension Loan, you can expand or modify your home to suit your needs. Whether it’s creating a larger living room, adding a balcony, or extending any other space, Dhanlaxmi Bank provides the financial support you need—once all necessary regulatory approvals are secured.

Dhanlaxmi Bank Home Improvement Loan

Dhanlaxmi Bank’s Home Improvement Loan is designed to assist homeowners in carrying out internal and external repairs, as well as structural enhancements such as tiling, flooring, painting, plumbing, electrical work, waterproofing, roofing, and the construction of underground or overhead water tanks. Once an estimate is obtained from a civil works agency of their choice, borrowers can avail themselves of the loan to refurbish and enhance their homes.

Dhanlaxmi Bank Plot + Construction Loans

This loan provides access to both a plot loan and a construction loan, offering the financial support needed to purchase a plot and build a home on it.

Check Out: Loan Against Property Calculator

Dhanlaxmi Bank Construction Loans

With this loan you can now build your home on an existing plot as per your design and requirement.

Must Read: Find Out How Much You Can Save with a Home Loan Overdraft

Dhanlaxmi Bank Home Loan EMI Calculator

EMI is a fixed monthly amount that you are required to pay to the bank until your home loan is fully repaid. 

Calculate your home loan EMI and estimate your monthly repayments. You can adjust loan amounts and tenures, and make well-informed decisions before committing to the bank.

How to Calculate Dhanlaxmi Bank Home Loan EMI?

Home loan EMI is calculated using a mathematical equation:

EMI = [P*r*(1+r)^n]/ [(1+r)^n -1]

Where:
P = Principal (loan amount borrowed)
r = Interest rate 
n = Total number of monthly installments (loan tenure in years*12)

Example: Case Study | Home Loan EMI 20 vs 30 Years

Aman, a young professional living in Mumbai, has just found his dream home – a spacious 3BHK apartment near his workplace. He decides to take a home loan from the Dhanlaxmi Bank to finance the purchase. 

Before signing the loan agreement, Aman wants a clear picture of how much he’ll need to pay every month. To figure this out, he calculates his EMI using the loan’s details.

Home Loan Amount: ₹50,00,000 (₹50 lakh)
Rate of Interest: 8.35% p.a.

But, he is considering two options:

1. A 20-Year Loan (240 months)
2. A 30-Year Loan (360 months)

Longer Tenure = Lower EMI = Higher Interest Payments

Let’s apply the EMI formula to both scenarios:

	Home Loan Amount	Interest Rate	Tenure	EMI	Interest Payment	Total Payment
Scenario 1	₹50,00,000	8.35% p.a.	20 years	₹42,918	₹53,00,236	₹ 1,03,00,236
Scenario 2	₹50,00,000	8.35% p.a.	30 years	₹37,915	₹86,49,548	₹ 1,36,49,548

Which Option Is Better and Why?

If Your Goal Is Long-Term Savings: Opt for the 20-year loan. 

• Although the monthly EMI is higher, your total interest outflow is much lower. 
• Over time, you save more than ₹33 lakh in interest compared to the 30-year option. 

If Your Goal Is Immediate Affordability: Choose the 30-year loan. 

• However, this comes at a significant long-term cost, as you’ll end up paying much more in total interest over the life of the loan.
• You’ll pay a lower EMI each month, easing short-term financial burden.

Dhanlaxmi Bank Home Loan Eligibility Criteria

Before applying for a home loan, it’s essential to understand the eligibility criteria. Here’s the essential eligibility checklist set by Dhanlaxmi Bank:

Criteria	Requirements
Age	18-70 years
Nationality	Indian/ NRI/ PIO
Employment	Minimum 3 years of work experience in a public or private sector company, or an MNC

Documents Required For Dhanlaxmi Bank Home Loans

When applying for a home loan with the Dhanlaxmi Bank, you will need to provide specific documents that verify your identity, income, and property details. Below is a detailed list:

General Documents

Category	Documents Required
Proof of Identity	PAN Card/ Driver’s License / Voter ID / Passport / Aadhar Card
Proof of Address	Driver’s License / Ration Card / Voter ID / Passport / Aadhar Card / Registered Rent Agreement

Dhanlaxmi Bank Home Loan Tenure

Home loan tenure refers to the duration over which the borrower agrees to repay the loan amount along with interest. Dhanlaxmi Bank offers flexible tenure options to accommodate varying financial situations and preferences. Here’s an overview:

• Minimum Tenure: 5 years
• Maximum Tenure: 30 years

Read More: How to Reduce Your Home Loan Tenure?

Impact of Home Loan Tenure on EMIs

• EMI: Longer tenure results in lower monthly EMIs; shorter tenure leads to higher EMIs.
• Interest Payments: Extended tenure increases the total interest, while a reduced tenure decreases it.
• Budget: Longer tenure eases monthly budget strain, whereas shorter tenure requires higher income stability
• Cash Flow: Longer tenure frees up cash for other investments, while shorter tenure ties up more funds in EMIs.

How to Choose the Best Dhanlaxmi Bank Home Loan Tenure?

• Assess income, expenses, and job security for consistent repayments.
• Opt for shorter tenures to reduce overall interest costs.
• Choose EMIs that fit comfortably within your budget.
• Calculate total interest to minimize long-term costs.
• Check for prepayment options without heavy penalties.
• Align tenure with long-term financial goals.
• Plan to settle the loan before retirement.
• Factor in potential salary growth for shorter tenures.
• Balance EMI affordability with loan tenure.

How To Apply For a Home Loan From Dhanlaxmi Bank?

1. Check Eligibility Criteria: Verify age, income, credit score, and employment status.
2. Calculate Loan Amount and EMI: Use Dhanlaxmi Bank’s online calculator to determine affordable loan amounts and monthly installments.
3. Gather Required Documents: Collect identity proof, address proof, income statements, and property-related documents.
4. Choose Application Method: Apply online through Dhanlaxmi Bank’s website or visit a nearby branch in person.
5. Submit the Application: Complete the application form accurately and attach all necessary documents.
6. Loan Processing and Verification: The bank reviews your application, verifies documents, and conducts a credit appraisal.
7. Property Valuation and Legal Checks: Dhanlaxmi Bank assesses the property’s market value and performs legal due diligence.
8. Receive Approval and Sanction Letter: Upon successful verification, you receive a loan approval and sanction letter detailing terms.
9. Sign the Agreement: Review and sign the loan agreement, agreeing to the specified terms and conditions.
10. Disbursement of Funds: The approved loan amount is transferred to your account or directly to the property seller.
11. Complete Post-Disbursement Formalities: Finalize any remaining documentation and set up repayment methods for EMIs.

Read More: Home Loans in Bangalore

Dhanlaxmi Bank Home Loan: Minimum and Maximum Loan Amount

Dhanlaxmi Bank offers home loans that cater to various financial situations. From first-time buyers needing a smaller loan to those looking to invest in premium real estate, knowing the minimum and maximum amounts available can simplify your search. 

Home Loan Types	Maximum and Minimum Loan Amount
Home Extension Loan	75% – 90% of the property value
Home Loan	75% – 90% of the property value
Home Improvement Loan	75% – 90% of the property value
Plot + Construction Loans	75% – 90% of the property value

Dhanlaxmi Bank Customer Care Contact Details

To facilitate effective communication with customers, in addition, Dhanlaxmi Bank offers various channels for customer support.

Contact Category	Details
Email ID	customercare@dhanbank.co.in
Toll-free Number	0487-2999711
Official Address	Dhanlaxmi Bank Ltd. Dhanalakshmi Buildings P.B No.9 , Naickanal, Thrissur. Kerala – 680001
Website	https://www.dhanbank.com/

Dhanlaxmi Bank Home Loan Centers Near You

Finding the right support when applying for a home loan is crucial to making your homeownership dreams a reality. Dhanlaxmi Bank has multiple home loan centers nationwide to provide you with convenient access to expert advice and personalized services. 

Check out the nearest Dhanlaxmi Bank branch using our branch locator tool.

Dhanlaxmi Bank Home Loan Approval and Disbursal 

Dhanlaxmi Bank is committed to processing home loan applications with utmost efficiency. Typically, the entire approval process is completed within 15 to 30 working days from the date of application submission. 

However, this timeline may vary based on several key factors:

• Completeness of documents
• Property type and location
• Applicant’s financial profile and credit score

Dhanlaxmi Bank Home Loan Disbursement Process

Dhanlaxmi Bank ensures a compliant and efficient home loan disbursement through a three-stage process: Application, Sanction, and Disbursement.

1. Application for Home Loan

Applicants are required to complete the home loan application form, providing necessary personal, income, and property documents and details.

2. Home Loan Sanction

Upon submission, BOI reviews the application and documents. Legal and technical experts assess the property’s compliance and condition.

3. Home Loan Disbursement

After receiving the sanction letter, the borrower is required to complete the down payment and submit final property documents for loan disbursement.

Types of Disbursement

• Full Disbursement: Entire loan amount released if the property is fully constructed
• Partial Disbursement: Loan disbursed in stages based on construction progress for under-construction properties

How to Maximize the Chances of Dhanlaxmi Bank Home Loan Approval?

• Maintain a high credit score
• Showcase strong financial stability
• Reduce existing debt obligations
• Provide complete and accurate documentation
• Pay sufficient down payment
• Choose property in approved locations
• Maintain consistent employment history
• Avoid multiple loan applications simultaneously
• Submit clear and legal property documents
• Ensure proper property valuation
• Keep income tax returns up to date
• Maintain low credit utilization ratio

Home Loan Insurance

Home loan insurance, is a safety net designed to protect both borrowers and lenders during the home loan tenure. It ensures that in unforeseen circumstances such as critical illness, disability, or death, the borrower’s family is not burdened with repaying the loan, while providing lenders with financial security against default. By covering the outstanding loan amount in such situations, home loan insurance offers peace of mind and financial stability, allowing borrowers to secure their homes and focus on enjoying them without undue worry.

Check Out : Home Loan Insurance Calculator

Is Home Loan Insurance Mandatory?

Although not legally mandated, Dhanlaxmi Bank makes it mandatory for its customers to obtain a home loan insurance.

Benefits of Opting a Home Loan Insurance Premium

• Financial Security: Ensures loan repayment during unforeseen events.
• Comprehensive Protection: Covers critical illness, accidents, and death.
• Joint Borrower Coverage: Protects both borrowers under one policy.
• Reduced Financial Stress: Lessens financial burden on dependents.
• Tax Benefits: Possible tax deductions on premium payments.
• Peace of Mind: Guarantees loan liability coverage in emergencies.

Dhanlaxmi Bank Home Loan Tax Benefits

Home loans offer significant tax benefits under the Income Tax Act, 1961. These benefits apply to both the principal amount and interest paid, making home loans more cost-effective.

Section	Deduction Type	Maximum Deduction Amount	Conditions
80C	Principal Repayment of Home Loan	₹1.5 Lakh per annum	The house property must not be sold within five years of possession.
80C	Payment of Stamp Duty	₹1.5 Lakh per annum	These expenses can only be claimed in the year they are incurred.
24b	Interest Payment on Home Loan	₹2 Lakh per annum	The loan must be taken for purchasing or constructing a house. If constructing a house, the construction must be completed within five years from the end of the financial year in which the loan was taken. If the property is let out (rented), there is no cap on the interest deduction under Section 24(b). This allows property owners renting out their property to claim full interest payments as a deduction.

Note: Section 80C also covers other investments like Public Provident Fund (PPF), Equity-Linked Savings Scheme (ELSS), and more, up to a combined total limit of ₹1.5 lakh.

1. Section 24B – Deduction on Home Loan Interest

What It Is:

• Allows you to claim a deduction on the interest paid on your home loan.

Benefits:

• Self-Occupied Property: Deduct up to ₹2 lakh per year on interest payments.
• Rented Property: No upper limit on the interest amount you can claim.

Example

Category	Amount
Loan Amount	Rs. 70,00,000
Interest Payable Per Year	Rs. 4 Lakhs
Tax Deduction	Rs. 2 Lakhs/ Year
Tax Bracket	30%
Tax Benefits per Year	Rs. 66,000

2. Section 80C – Deduction on Principal Repayment

What It Is:

• Allows deduction on the principal portion of your home loan repayments, up to ₹1.5 lakh per year.

Benefits:

• Reduces your taxable income by the principal amount repaid.
• Also includes stamp duty and registration charges (one-time claim in the year incurred).

Example

Category	Amount
Loan Amount	Rs. 75,00,000
Principal Payable Per Year	Rs. 3.5 Lakhs
Tax Deduction	Rs. 1.5 Lakhs per Year
Tax Bracket	30%
Tax Benefits per Year	50,000

Total Tax Benefits (Section 24B + Section 80C = Rs. 1.16 Lakhs/ Year

3. Joint Home Loans – Double the Benefits

What It Is:

• When two or more people take a joint home loan and are co-owners of the property.

Benefits:

• Section 24B: Each co-borrower can claim up to ₹2 lakh on interest.
• Section 80C: Each can claim up to ₹1.5 lakh on principal repayment.
• Total Tax Savings: Potentially ₹1.05 lakh per person per year (at 30% tax rate).

Who is Eligible to be a Co-Applicant?

• Father/ Mother
• Unmarried Daughter
• Siblings
• Husband/ Wife
  (Minors cannot be considered as co-applicants for a Home Loan)

Example

Category	Co Applicant 1	Co Applicant 2
Tax Deduction under 24B	Rs. 2 Lakhs/ Year	Rs. 2 Lakhs/ Year
Tax Deduction under 80C	Rs. 1.5 Lakhs/ Year	Rs. 1.5 Lakhs/ Year
Tax Deductions/ Year	Rs. 3.5 Lakhs/ Year	Rs. 3.5 Lakhs/ Year
Tax Bracket	30%	30%
Tax Benefits	Rs. 1.16 Lakhs/ Year	Rs. 1.16 Lakhs/ Year

When you opt for a co-applicant on your home loan, the savings can be substantial due to the ability to claim tax deductions separately. For example, with a co-applicant, the total tax savings can amount to ₹2.32 lakhs annually. Here’s how it works:

• EMI Paid per Year: ₹60,000 x 12 = ₹7,20,000
• Money Saved through Tax Deductions: ₹2,32,000
• Net Money Paid after Deductions: ₹7,20,000 – ₹2,32,000 = ₹4.88 lakhs

By utilising this tax benefit, you effectively lower your financial outflow, paying only ₹4.88 lakhs per year instead of the full ₹7.20 lakhs. 

Read More: Stamp Duty and Registration Charges in Bihar

Why Should You Choose Dhanlaxmi Bank For Your Home Loan?

• Hassle-Free Application: Enjoy a seamless home loan application process with doorstep document pick-up and no need for branch visits.
• Customized Repayment Options: For under-construction properties, pay only part of your EMIs initially with tailored repayment plans.
• External Benchmark Linked Loans: Link your home loan interest rate to an external benchmark, such as the Repo Rate.
• Disbursal in 48 Hours*: Expect loan disbursal within 48 hours after completing application and documentation verification.
• Easy and simple online account management

How Credit Dharma Simplifies The Home Loan Journey? 

Buying a home is a big step. Getting a home loan can be hard, but we make it easy. At Credit Dharma, we make this possible by offering lowest guaranteed interest rates that keep your monthly payments manageable, allowing you to enjoy more of what truly matters.

But that is not it. We offer:

• Guaranteed up to 100% funding
• Receive lifetime assistance and expert guidance long after your loan is approved.
• Enjoy a fully digital process with minimal paperwork 
• Get your loan approved within just 1-2 weeks.