Home Loan

What is a Home Loan ?

A home loan is a loan taken to buy a plot of land and construct a house on it or buy an already constructed house or apartment. A home loan could also be taken for renovation of or conducting repairs on or adding new built-up area to an existing house. Typically, financial institutions such as banks or housing finance corporations extend home loans.

How to apply for a Home Loan ?

Applying for a home loan is as easy as saying 1, 2, 3. In three easy steps, you can submit your application for a home loan from Dewan finserv. The three steps are:

  1. In the first step, enter personal details sought for such as full name as per PAN, gender, date of birth, residential status, email id, mobile number, city, PIN code and profession
  2. In the second step, select the housing loan amount and loan tenure
  3. In the third step, submit the application to get a home loan

What are the current Home Loan Interest Rates ?

The current home loan interest rates  are different for different classes of borrowers. The current rates are

*     For salaried professionals and doctors, the lowest rate is 8.35 to 9.5% for a housing loan

*     For self-employed professionals and non-professionals, the lowest rate is 8.5% to 10.0%.

How much Home Loan amount can you avail ?

The minimum home loan amount is Rs 20 lakhs and the maximum loan amount is Rs 10 crores subject to 80% of the market value of the property.

Why choose Dewan Finserv for finalising Home Loan ?

Dewan Finserv has main advantages and they are

*     You get the  home loan eligibility  from different financial houses and bank so that you can choose a good home for yourself

*     You can prepay your home loan without any penalties

Home Loan Balance Transfer?

A Home Loan balance transfer is for those of you who have an existing home loan with another financial institution. It is possible that you have taken the home loan on a fixed interest rate and now the interest rate has come down and you cannot take advantage of the lower interest rate.

*     Lower interest rates to reduce your existing EMI

*     Enhancement in your housing loan amount

*     Longer tenure up to 30 years

*     Flexible EMI options suiting your comfort level

*     Transparent terms and conditions without any hidden charges

*     Minimal formalities in the transfer process

*     Special benefits extended to select corporate employees

With our attractive balance transfer features, you can use the top up loan to undertake repairs or extend your home with additional built-up area. You could also reduce your EMI by opting for a longer tenure.

How to Top-up your Home Loan ?

A top-up loan is provided to borrowers to put cash in their hands to utilize it for renovation or conducting repairs on their homes. A top-up loan is available when you transfer your home loan from another lender. The top-up is available up to 25% of the original housing loan amount with the earlier lender.

What are different modes to pay your Home Loan EMIs ?

You can pay your EMIs using different modes to repay your housing loan such as

*     Through post dated cheques

*     Electronic clearing services

*     Online transfer of EMIs

( As per the respective financial institutions policies )

How Credit Score plays a vital role in getting a Home Loan ?

Credit score is a parameter that would help to assess your creditworthiness. We recommend that your score is above 750 so as to get the best terms for your home loan. Higher the credit score, lower would be the interest rate charged. While a lower credit score may not hinder your chances of obtaining a home loan, it would impact your ability to get good terms especially in regard to interest rates.

Key Features and Home Loan Solutions

Home Loan - Key Features

We at Dewan finserv are delighted that you want to acquire your dream home. We want to help you to finance your home with our feature rich home loan financial product. Our home loan comes with numerous features that help you to minimize the cost of financing your home loan. Our interest rates attractive, formalities minimal, loan process fast, repayment options several, EMIs under your control, disbursal quick, and our support timely.

Key Features

Our home loan is replete with features that are aimed at making it easy for you to avail a home loan that is perfect for you. They include interalia

  • Loan granted for purchase of site for construction, construction of house, purchase a built apartment or house, renovation, extension or transfer of your existing loan with another lender to Dewan Finserv
  • Inclusion of a family member as a co-applicant which enables you to take a higher loan amount
  • Option of choosing fresh loan, adding to existing loan with top up facility, and transfer a loan from another lender
  • Option of repaying through ECS, Post Dated Cheques , auto debit and deduction against salary
  • Option of choosing EMIs
  • Option to purchase or construct a house in rural areas under our rural housing finance scheme
  • Low home loan interest (4%) scheme under the Pradhan Mantri Yojna Scheme 2017
  • The Dewan Finserv bouquet of home loan features that make taking a home loan effortless


A home loan from us bestows the following benefits

  • Maximum quantum of loan by adding co-applicants’ income to your own income
  • Loan amount up to Rs 3 crore; can go up to Rs 10 crore in special cases
  • Attractive and affordable home loan interest rates; choice of floating and fixed rates
  • Loan tenure up to 360 months
  • Option to choose your EMIs for repayment
  • Choice of standard home loan or flexi EMI loan
  • No foreclosure charges
  • No prepayment charges for floating rate loan
  • 2% prepayment charges if prepayment is in excess of allowed limits on fixed interest loan
  • Service at your doorstep
  • Fastest processing in the industry
  • Hundreds of approved projects

The home loan you avail qualifies for the following tax benefits

  • Under Section 80C of the IT Act – on repayment of principal amount towards home loan every year
  • Under Section 24 of the IT Act – on repayment of interest towards home loan
  • Under Section 80EE of the It Act – additional benefit over and above under Section 24 on repayment of interest towards home loan for first-time buyers

The IT Act prescribes the rules under which the home loan borrower can avail the above tax benefits.

Interested in applying for a home loan?

It is easy to apply for a Dewan Finserv home loan. You will not be burdened with unreasonable charges and fees. You are eligible for a home loan if you satisfy our minimal conditions. What is more, our documentation is quite simple comprising standard documents.

Processing fees and charges

In order to lessen your burden on expenses incurred in taking a home loan, we keep our processing fees and charges to the bare minimum. They include the following

  • A small processing fee up to a maximum of 0.5% of the loan amount
  • Statutory charges such as stamp duty
  • 2% prepayment charge in some cases
  • Delayed EMI payment charges
  • PDC charges
  • Loan cancellation charges
  • Dishonour of cheque charges
  • Rejection of ECS charges
  • PDC swapping charges
  • Account maintenance charges
  • CERSAI charges
  • Legal charges
  • Cheque or cash collection charges

We assure you that if the loan is serviced promptly as per terms and condition of the home loan the above charges will not be levied except for the processing fee and stamp duty

Eligibility and documents

Our eligibility criteria are easy to meet as we seek applications from individuals who are

  • Aged between 24 years at the commencement of the home loan and 65 years at the time of maturity of the loan
  • Salaried persons
  • Self-employed professional persons
  • Self-employed businesspersons

For more details you can read about the complete eligibility criteria while applying for home loan.

We seek the following standard documents

  • Proof of identity and residence, latest salary slip, Form-16 and latest 6-month bank statement in the case of salaried person
  • Proof of identity, residence, education, business existence, latest 3-year ITR of individual and profession, latest 3-year P/L statement and balance sheet and latest 6-month bank statement in the case of self-employed professional person
  • Proof of identity, residence, education, business existence, latest 3-year ITR of individual and profession, latest 3-year P/L statement and balance sheet, latest 6-month bank statement and business profile in the case of self-employed business person

How to apply for home loan

Applying for a home loan is a very simple task and we recommend you take the following steps to decide on the various elements before applying

  • Understand the home loan features
  • Based on your understanding and your requirement finalize the loan amount, tenure and EMI repayment you are comfortable with
  • Apply in the prescribed form along with photograph
  • Submit the form with a cheque for the processing fee and enclose copies of relevant documents

A home loan from Dewan Finserv is more than just a loan. It is a comfortable means of realizing your dream of owning a home.

Home Loan Eligibility and Documents

What is Home Loan Eligibility Criteria ?

At Dewan finserv, we have eligibility criteria that can be easily met by borrowers. We classify borrowers based on their source of income. They can be

  • Salaried individuals working in reputable companies
  • Self-employed professionals
  • Self-employed non-professionals or businessmen
  • Borrowers should earn income sufficient to service the home loan they want to avail

The eligibility criteria for different class of borrowers in terms of age is

  • You should be above 24 years of age at the time of borrowing the loan
  • You should be below 65 years of age or superannuation (for salaried individuals) whichever is earlier at the time of maturity of the loan

What documents are needed to avail for a home loan ?

We seek standard documents from you to process your home loan as per the following table

Document Salaried
Self Employed
Self Employed
Application Yes Yes Yes
Photograph Yes Yes Yes
Identity Proof Yes Yes Yes
Residence Proof Yes Yes Yes
Latest Salary Slip Yes No No
Form-16 Yes No No
6-month Bank Statement Yes Yes Yes
Education proof No Yes Yes
Business Existence No Yes Yes
Last 3-year ITR of individual No Yes Yes
Last 3-year ITR of profession No Yes Yes
Last 3-year P/L Statement No Yes Yes
Last 3-year Balance sheet No Yes Yes
Business profile No No Yes

How to Check Home Loan Eligibility ?

You can check your home loan eligibility by providing basic personal information about yourself, your profession, your business, your employment, your income, the loan amount you need and the tenure. You can follow the three steps here.

What is the maximum home loan you are eligible for ?

We provide you a home loan up to Rs 3 crore depending on your income profile. In special cases we can lend up to Rs 10 crore. However, all loans are subject to terms and conditions prevailing at the time of availing the loan.

Additionally, you can check out the interest rates offered on our home loan and EMI calculator to get an better estimate of your monthly payments.