Generally, the DBS home loan interest rate is 9.40% per annum (which is RBI Policy Repo Rate + up to 2.90%). Moreover, this rate will vary depending on factors such as the loan amount, tenure, and applicant profile. You can get a loan amount of up to Rs 5 crore. Read on to get more details.
What is the DBS Housing Loan Interest Rate 2024?
As I mentioned above, the interest rates of DBS Bank are influenced by the applicant’s credit score, income stability, and the loan amount requested. Moreover, the maximum interest rate for housing loan here is 16% (RBI policy repo rate + up to 9.50%). The processing fee is 0.25% to 1% of the sanctioned loan amount.
For salaried individuals with good credit scores and financial stability, DBS offers lower rates.
Self- employed professionals may experience slightly higher rates due to income variability.
DBS typically offers floating interest rates, which are linked to the bank's marginal cost of funds-based lending rate (MCLR). This means the rate can fluctuate with market conditions and changes in MCLR, affecting your monthly EMI.
The bank offers flexible repayment options with tenures ranging up to 240 EMIs.
Additionally, DBS provides attractive features such as balance transfer facilities, which allow customers to switch existing home loans from other banks to DBS at competitive rates, potentially reducing the overall cost of borrowing. I hope you get an idea of DBS Bank home loan interest rate.
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What is DBS Home Loan Interest Rate?
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2024-09-23T22:43:29+00:00 2024-09-23T22:43:30+00:00Comment
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