DENA BANK- HOUSING FINANCE SCHEME

Dena Niwas Housing Finance Scheme

The doorway to your Dream Home

A Loan for different needs

You can avail of Dena Niwas Home Loan to purchase a plot, construct a house, buy a ready built house or buy one under construction. The loan even helps you build an extension to your existing house or purchase a house that is up to 25 years old. Besides you can take this loan for repairs and upgradation, which includes the cost of fixtures, POP works, retiling, fittings etc.

It even gives you the option to shift an existing home loan with any other Bank or Financial Institution.

You are eligible if:

· You are a major individual, resident or non-resident, having a regular source of income.

· Your age on the maturity of the loan is less than retirement age if you are a salaried employee & below 65 years, if you have a business.

· The total deductions do not exceed 60% of your gross income, including the loan installment of the proposed loan.

· Spouses/Co-applicants income can be clubbed for enhanced eligibility.

Loan Amount

· Up to Rs.100 lakhs for the purchase of a house.

· Up to Rs.5 lakhs for renovation/upgradation.

Margin

15%

Rate of Interest

Please Check out the Interest Rates Section to find latest Interest Rates applicable.

~ INTEREST CHARGED ON DAILY REDUCING BALANCE

~ NO PREPAYMENT CHARGES

~ FREE DEBIT CARD WITH INSURANCE COVER OF RS. 1 LAC IN CASE OF ACCIDENTAL DEATH

~ LOAN LIMIT OF RS. 100 LACS.

~ PURCHASE OF HOUSE UPTO 25 YEARS OLD ALLOWED

~ FLOATING RATE LINKED TO BPLR & NOT ANY INDEX/ REFERENCE RATE

Repayment

* Upto 20 years-for the purchase of a new flat/house/construction/extension.
* Upto 10 years- for repairs, renovation and upgradation.

Security

Simple equitable mortgage of the house/flat/apartment on which the loan is availed.

Process Fees

0.50 % of the sanctioned loan amount.