Deutsche Bank Home Loan
Features
Features
Some of the unique features of Deutsche Bank home loans are:
- Flexible home loan options: Combination of both fixed and floating interest rates on a single loan. A part of your loan will be at a fixed interest rate, while the other will attract fluctuating interest.
- StepUp home loan: Lower EMIs in the initial years and higher in later years, keeping pace with an increase in your income levels.
- StepDown home loan: Higher EMI in the initial years of your loan tenure as compared to the EMI in the later years.
- Loan for up to 90% of the property value
- Free property valuation and consultancy service
Eligibility
Eligibility
|
Eligibility criteria |
Salaried |
Self-employed |
|
Minimum Age |
23 years |
23 years |
|
Maximum Age |
65 years or retirement, whichever is earlier |
65 years |
|
Minimum Gross Annual Income (Rs) |
100,000 |
100,000 |
|
Minimum stay at current residence |
1 year |
1 year |
|
Total work or business experience |
2 years (for loans up to Rs 1 crore), 4 years (for loans greater than Rs 1 crore) |
2 years (for loans up to Rs 1 crore), 5 years (for loans greater than Rs 1 crore) |
|
Telephone |
Mandatory at both residence and office |
Mandatory at both residence and office |
Margin
Margin
Deutsche Bank funds up to 90% of the value of the property
Documents Required
Documents required
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Documentation |
Salaried |
Self-employed |
|
Financials |
Salary slip of last one month or latest salary certificate showing all deductions and loans outstanding |
Income Tax returns for the last 2 years |
|
Form 16 |
Profit & Loss Account along with computation of Income and Balance Sheet for last 2 years, duly certified by a CA |
|
|
HR certification showing all allowances and reimbursements (if any) |
Proof of business continuity for last 3 years |
|
|
Copy of bank statement (main account) for last 6 months |
Copy of bank statement (main account) for last 6 months |
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|
|
Short note on the nature of business, form of organisation, clients and suppliers, etc. |
|
|
Photo Identity (any one of the doc.) |
- Passport |
- Passport |
|
- Photo PAN Card |
- Photo PAN Card |
|
|
- Defence/Govt ID Card |
- Voter's ID Card |
|
|
- Voter's ID Card |
- Driving Licence |
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- Driving License |
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|
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Proof of Signature (any one of the doc.) |
- Passport |
- Passport |
|
- Banker's Certificate |
- Banker's Certificate |
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|
- Driving Licence |
- Driving Licence |
|
|
- PAN Card |
- PAN Card |
|
|
Proof of Residence (any one of the doc.) |
- Passport |
- Passport |
|
- Telephone Bill (landline) |
- Telephone Bill (landline) |
|
|
- Electricity Bill |
- Electricity Bill |
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|
- Voter's ID Card |
- Voter's ID Card |
|
|
- Driving Licence |
- Driving Licence |
|
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Proof of Age (any one) |
- Passport |
- Passport |
|
- Voter's ID Card |
- Voter's ID Card |
|
|
- PAN Card |
- PAN Card |
|
|
- Birth Certificate |
- Birth Certificate |
|
|
- Life Insurance Policy or premium receipt clearly stating age/DoB |
- Life Insurance Policy or premium receipt clearly stating age/DoB |
Benefits of Applying Online
When Banks Compete, you win.
Apply for a Home Loan at ApnaPaisa and we will match your requirements with the best offers from our network of over 400 service providers. We will get a maximum of five providers to compete for your business. WHEN BANKS COMPETE YOU WIN. You can then decide which home loan is best for you based on:
- Lowest Interest Rate
- Lowest EMI
- No Pre-payment charges
- Lowest Processing Fees
- Maximum Eligible Loan Amount
- Mandatory Documents Required
- Lowest Processing Fees
Or any other factor that is important to you.
Negotiating Tips
1) If you have a good credit record and your income is sufficient to justify the loan you can negotiate on interest rates. You can also try and get Processing fees or legal or valuation fees reduced or completely waived.
2) If you go for a floating rate loan then pre-payment charges are not payable.
3) When interest rates are high and are expected to go down you should go in for a floating rate loan as it makes no sense to lock into high fixed rates or the so called Dual rate loans where rates remain fixed for a couple of years before shifting to regular floating rate loans. Please review this decision at least once every 6 months
4) Take term insurance and critical illness and accidental disability policy for the full loan amount to make sure you or your loved ones don't have to worry about loan repayment should you die or are disabled due to a critical illness or accident. You cannot be forced to buy this policy from the insurance company chosen by the lender - you should choose your own insurer.