dhfl home loan

Example of Home Loan EMIs Using DHFL Loan Calculator

Finance

An example showing how a home loan calculator works is given in this article. DHFL is an housing finance company which offers a regular home loan as well as home loans under PMAY – CLSS scheme. The applicants eligible as per Pradhan Mantri Awas Yojana (PMAY) for Credit Linked Subsidy Scheme (CLSS) can get up to 6% interest subsidy.

To know more about DHFL loan calculator and DHFL home loan rates, read this article. Here we have covered all the details related to housing loan offered by DHFL. You can checkout the details and if you find yourself eligible for the loan and in a need of a lender, you can apply for it.

DHFL loan calculator

A home loan EMI calculator is an online facility that is accessible anytime anywhere. You just need to mention the basic details on your home loan which are as follows:

  • Loan amount
  • Tenure
  • Interest rate

Now, when you mention the above details in the calculator, it would give you the data of the EMI, the total interest outgo, and the total amount (principal+interest). Here is an example with the loan amount ₹20 lakhs with the tenure of 15 years and interest rate of 9% p.a.

EMI: ₹20,285

Total interest outgo: ₹16,51,360

Total amount: ₹36,51,360

DHFL home loan rates

At present, the interest rates on home loans vary from 9.05% to 9.55% per annum. Eligible candidates under PMAY scheme, can apply for the loan and get the benefit of interest subsidy.

DHFL Home Loan Eligibility

At DHFL, the factors that decide whether or not you will get the loan are as follows:

  • Repayment Capacity
  • Age
  • Educational qualifications
  • Stability and continuity of income
  • Number of dependents
  • Co-applicant’s income
  • Assets
  • Liabilities
  • Saving habits, and more

DHFL Home Loan Processing Fees

The processing fee applicable on a home loan is a one-time payment which is the non-refundable amount. The fee is ₹5000 to ₹20,000 for salaried individuals or self-employed professionals. For self-employed non-professionals, the fee is 1.5% of the loan amount plus GST.

DHFL Home Loan Documents

The documentation required to apply for a home loan at DHFL is different according to the profession. The list is as follows:

Salaried:

  • KYC Documents
  • Salary slip for the last 2 months/Salary Certificate (If variable components like over-time and Incentives are reflected then salary slips for the past 6 months are required)
  • Latest Form – 16 if salary above ₹20000/- per month
  • Copy of all bank pass books/bank statements for the past 3 months including front page
  • Company profile if it is a lesser known organization

Self-employed Businessmen:

  • KYC Documents
  • Copy of last 2 years Income Tax Returns of the applicant along with computation of income duly attested by a Chartered Accountant
  • Copy of last 2 Years Balance Sheet and Profit & Loss Account of the firm duly attested by a Chartered Accountant
  • Brief Business Profile on the Letter Head of the firm by the applicant
  • Bank Statement for the last 6 months for the Savings Account & Current Account, O/D Account
  • Copy of either Shop & Establishment License/VAT Registration or any other mandatory license/registration or old ITRs evidencing business
  • Copy of the Partnership Deed, Memorandum of Associations, Articles of Association  (if applicable)
  • Copy of Tax Deduction Certificate/Form – 16A (if applicable)
  • Details of Contract (if applicable)
  • Copy of Advance Tax paid/Self Assessment Tax paid challan

Self-employed Professionals:

  • KYC Documents
  • Copy of last 2 years Income Tax Returns of the applicant along with computation of income duly attested by a Chartered Accountant
  • Copy of last 2 Years Balance Sheet and Profit & Loss Account of the firm duly attested by a Chartered Accountant
  • Brief Business Profile on the letter head of the firm by the applicant
  • Bank Statement for the last 6 months for the Savings Account & Current Account, O/D Account
  • Copy of either Shop & Establishment License/VAT Registration or any other mandatory license/registration
  • Copy of the Partnership Deed, Memorandum of Associations, Articles of Association  (if applicable)
  • Copy of Tax Deduction Certificate/Form – 16A (if applicable)
  • Details of Contract (if applicable)
  • Copy of Advance Tax paid/Self Assessment Tax paid challan
  • Copy of Educational Qualification Certificate
  • Copy of Professional Practice Certificate
  • Salary Certificate (in case of doctors having salaried income)

 

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