DCB Bank NRI Home Loan

DCB Bank stands as a prominent new-generation bank in India. Established in 2023, subjected to the RBI regulation, with 440 branches across India. The bank ideally offers many credit products to its esteemed customers. One such product is the DCB Bank home loan for NRI. This is recognised for its distinctive lending policies, rock-bottom interest rates, and quick fund disbursement, making it a more borrower-friendly credit option. To know more, continue to scroll down. Hereunder, Urban Money presents a detailed NRI housing loan DCB Bank overview. Let’s dive in.

Feature & Benefits of DCB Bank NRI Home Loan

Following are the applicable features and benefits you can expect from a DCB Bank home loan for NRI:

• Attractive interest rates 
• Higher loan amount 
• Easy application process
• Minimal documentation
• Quick fund disbursement 
• Balance transfer facility
• Available insurance plan  

Types of DCB Bank Home Loans for NRIs

DCB Bank offers a variety of home loan options for NRIs. Each loan type has its own terms and conditions, catering to different needs and preferences. Some major NRI housing loans in DCB Bank include DCB Home Loans, DCB Micro Home Loans, and DCB Mortgage Loans. For further details, check Urban Money’s official website or contact our customer service.

Purpose of DCB Bank NRI Home Loan

Following is the popular purpose people usually avail of an NRI housing loan in DCB Bank:

• Construction: To build a residential house on land already owned.
• House/Flat Purchase: To buy a new or existing house or flat.
• Plot Purchase and Construction: To buy a plot and construct a residential house. 
• Renovation/Extension/Repair: To renovate, extend, or repair an already-owned residential house.
• Unfinished/Old House: To purchase an unfinished or old house and renovate, extend, or repair it.
• Balance Transfer: To transfer housing loans from other financial institutions or banks.

DCB Bank NRI Home Loan Interest Rates

Following are the expected DCB Bank NRI home loan interest rates:

DCB Bank NRI Home Loan Documents Required

DCB Bank home loan documents for NRI are as follows:

• KYC Documents: Aadhar, Passport, Driving License, Voter ID, or NREGA Card.
• Age Proof: Birth Certificate, LIC Policy, Any Government ID Card, School Leaving Certificate, PAN Card, Aadhar Card, or Passport.
• Proof of Income: The last 6-month bank statement and last 3-month salary slips, or business proof along with the last 1-year bank statement and last 3-year ITR. 
• Proof of Property: Sale agreement, title deed, allotment letter, etc. 
• Additional Documents: PAN card, passport-size photo, duly filled/signed application form. 

DCB Bank NRI Home Loan Eligibility Criteria

NRI home loan eligibility for DCB Bank is as follows:

• Nationality: You must be an Indian-born citizen.
• Age Limit: You must be aged 21 to 60 years old. 
• Income Requirement: You must have a minimum income of ₹25,000 per month. 
• Credit Score: You must have a good credit score and positive repayment capacity. 

Fees and Charges for DCB Bank NRI Home Loan

Following are the fees and charges associated with the NRI housing loan DCB Bank:

Tax Benefits of DCB Bank NRI Home Loans

Under the Income Tax Act of 1961, it’s possible to avail tax benefits on both the interest and principal amount of your home loan EMIs, as per Section 24(b) and Section 80C, respectively.

• Section 80C: A deduction of up to ₹1.5 lakh on the principal repayment for an NRI housing loan from DCB Bank.
• Section 24 (b): A deduction of up to ₹2 lakh on the interest paid for a DCB Bank home loan for NRI.
• Section 80EE: An additional deduction of up to ₹50,000 for first-time homebuyers.