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ARE DHFL HOME LOAN INTEREST RATES GOOD ENOUGH TO APPLY FOR?

The 21st century belongs to the innovators in every sphere of life including the home loan segment. Yes, banks ruled the home loan space until the end of the 20th century. But as the 21st century came, the housing finance companies (HFCs) stepped on the accelerator by taking out a large chunk of banku2019s share in the segment. As per the latest data, HFCs have grown their home loan portfolio by 18%-21% each year since 2013, greater than 14%-18% achieved by banks during the period. Amongst the HFCs, DHFL is one of the prominent players by providing high loan at competitive interest rates. Letu2019s check out the effect of DHFL Home Loan Interest Rates that you can have on your budget.

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ARE DHFL HOME LOAN INTEREST RATES GOOD ENOUGH TO APPLY FOR?

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  1. ARE DHFL HOME LOAN INTEREST RATES GOOD ENOUGH TO APPLY FOR?

  2. The 21st century belongs to the innovators in every sphere of life including the home loan segment. Yes, banks ruled the home loan space until the end of the 20th century. But as the 21st century came, the housing finance companies (HFCs) stepped on the accelerator by taking out a large chunk of bank’s share in the segment. As per the latest data, HFCs have grown their home loan portfolio by 18%-21% each year since 2013, greater than 14%-18% achieved by banks during the period. Amongst the HFCs, DHFL is one of the prominent players by providing high loan at competitive interest rates. Let’s check out the effect of DHFL Home Loan Interest Rates that you can have on your budget.

  3. How Much Interest Rates Does DHFL Charge on Home Loans? DHFL offers home loans at interest rates benchmarked to its Retail Prime Lending Rate (RPLR) i.e. 19.42%. The interest rate is calculated by the deduction of a few percentages from the RPLR. As of now, DHFL Home Loan Interest Rates range from 9.10%-10.55% per annum. As the RPLR changes based on the prevailing market conditions, the interest rate will vary from time to time. So, you must check the latest rates before applying for a loan.

  4. How Can You Gauge the Effect of DHFL Home Loan Interest Rates? Simply knowing the interest rates won’t help you much. You need to understand its effect thoroughly before taking a call. You might ask this question, how can I understand the effect? Well, you can do so by checking the DHFL Loan EMI Calculator. The calculator helps compute the outflow of interest payments via Equated Monthly Installments (EMIs). These installments combine both interest and principal portions of a loan payable to the lender every month. To know all these, you just need to enter the values of the loan amount, tenure and interest rate in the calculator, which will then show the EMI and interest you need to pay to DHFL over the course of a loan.

  5. DHFL Loan EMI Calculator Also Shows the Amortization Schedule The amortization schedule is a pattern of repayment resulting from the use of the DHFL Home Loan EMI Calculator. It actually shows the bifurcation of interest and principal payments on a periodical basis till the time the loan finishes. This allows you to plan your savings so as to get rid off the debt fast. As the home loan can continue for a maximum of 30 years, you could pay around the amount you have been lent or even more in the form of interest. So, a perfect savings plan can ensure you accumulate a surplus good enough to pay off the debt before its scheduled finish.

  6. Other Details You Must Know Before Applying for DHFL Home Loan • Both salaried and self-employed can apply for the loan • The loan comes with a minimum login fee of ₹2,500 or processing fee, whichever is lower, plus applicable Goods and Services Tax (GST). • The processing fee varies according to the loan amount. Loans up to ₹30 lakhs come with a processing fee of 5,000 plus document charges and applicable GST. The processing fee on loans above ₹30 lakhs to ₹75 lakhs is ₹10,000 plus document charges and applicable GST. If the loan is above ₹75 lakhs, the fee would be ₹20,000 plus document charges and applicable GST. The processing fee shown above is applicable to salaried and self-employed professionals. • Self-employed non-professionals need to pay the fee at 0.50%-1.50% of the loan amount plus applicable GST.

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