Loan against Property By Deutsche Bank

Overview for Home Loan By  Deutsche Bank

 

You can avail Loan Against Property* against your residential or commercial property to meet your business needs or for other financial commitments such as your child’s education, marriage expenses and much more.

The Loan against Property comes with the following benefits:
 

  • Get higher loan amounts ranging from Rs.10 lakhs up to Rs. 10 crores.
  • Maximum value out of your property by getting finance up to 70%* of your residential property value.
  • Loans available on residential as well as commercial property.
  • Loan repayment can extend from 5 years to 15 years.

 

Advantages For Loan against Property By Deutsche Bank

 

 

Higher Loan amounts

Depending upon the value and type of your property you can get a loan up to Rs. 10 crores. For commercial properties, the maximum loan amount is Rs. 5 crores.

Loan against multiple property types:

Whether it is residential or commercial property you can get a loan against it, provided it meets the criteria given below:

Loan against Residential Properties

The residential property can be either self-occupied or rented out. Properties co-owned by minors / HUF / trusts are not eligible for Loan against Property.

Loan against Commercial Properties

You can avail a loan against your occupied office premise or a shop. For more details please get in touch with our counsellors today.

Loan for Purchase of Commercial Property

You can avail a loan to buy a commercial property like office or shop.

Easy repayment plan

You can choose a repayment plan, which is comfortable for you. Our loan tenor options ranges from 5 years to 15 years.

Insurance Plans for your Loan against Property

We have exclusive Insurance Plan** that can provide cover to your loan in the face of any unforeseen event happening to your life. In case of any of these happenings, your family will have the support of the insurance cover to pay for the outstanding loan, without being burdened by the loan EMIs.

*Conditions Apply. Approval of home loan shall be at the sole discretion of Deutsche Bank AG (“Deutsch Bank”) and subject to execution of requisite legal documents and credit checks. Deutsche Bank reserves the right to request for such documentation and information as it deems necessary to process the loan application.

**All insurance products are underwritten by the respective insurance company and are subject to the terms and conditions of the relevant policy issued by that insurance company. Deutsche Bank AG, India (“Deutsche Bank”) is a licensed corporate agent of Birla Sun Life Insurance Company Limited and HDFC ERGO General Insurance Company Limited under the composite license number 886808.

 

Eligibility For Loan against Property By Deutsche Bank

 

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) 

500,000 

500,000 

 

 

Docomentation For Loan against Property By Deutsche Bank

Documentation
Salaried
Self-employed

Financials 

  • Salary slip of last three month
  • Form 16 or ITR
  • HR certification showing all allowances and reimbursements (if any)
  • Copy of bank statement (main account) for last 6 months
  • Repayment details on any existing loans or loan closure letter
  • Income Tax returns for the last 2 years
  • Profit & Loss Account along with computation of Income and Balance Sheet for last 2 years, duly certified by a CA
  • Proof of business continuity for last 3 years
  • Copy of bank statement (main account) for last 6 months
  • Short note on the nature of business, form of organisation, clients and suppliers, etc.

 Photo Identity (any one) 

  • Valid Passport
  • Photo PAN Card
  • Voter's ID Card
  • Valid Driving License
  • Valid Passport
  • Photo PAN Card
  • Voter's ID Card
  • Valid Driving License

Proof of Address (any one) 

  • Valid Passport
  • Valid Driving License
  • Voter's ID Card
  • Job card issued by NREGA duly signed by an officer of the State Government
  • Aadhar Card or Letter issued by the UIDAI
  • Valid Passport
  • Valid Driving License
  • Voter's ID Card
  • Job card issued by NREGA duly signed by an officer of the State Government
  • Aadhar Card or Letter issued by the UIDAI

 Proof of Signature (any one) 

  • Valid Passport
  • Banker's Certificate
  • Driving Licence
  • PAN Card
  • Valid Passport
  • Banker's Certificate
  • Driving Licence
  • PAN Card

Proof of Age (any one) 

  • Valid Passport
  • Voter's ID Card
  • PAN Card
  • Birth Certificate
  • Valid Passport
  • Voter's ID Card
  • PAN Card
  • Birth Certificate

 

Frequently Ask Questions About Home Loan By  Deutsche Bank

 

 

What is the minimum loan amount?

The loan amount depends on your repayment capability and is restricted to a maximum of 70% of the market value as applicable. Repayment capacity takes into consideration factors such as income, age, qualification, number of dependants, spouses income, assets, liabilities, stability, continuity of occupation and savings history. And, of course, our main concern is to make sure that you can comfortably repay the loan amount.

 

What are the loan tenure options?

You have the option of selecting a term you are comfortable with, ranging from 5 to 15 years, provided the term does not extend beyond your reaching 65 years of age or retirement age, whichever is earlier.

Are there any administrative charges collected for processing the file? Are the adminitrative charges refundable?

Please check the schedule of charges section for the quantum of administrative charges to be collected.

In the event of your loan getting declined, an amount of Rs 2000 (or the fee paid) would be deducted towards loan processing charges and the balance amount would be refunded. No refund of administrative fees to be done if the loan is sanctioned.

 

What interest rates do you offer?

For information on the interest rates offered, please SMS PROP to 561615 and we will get back to you with details.
You can also call us on 1860 266 6660#.

# Customers outside India need to dial +91 22 6601 6660. Customers in Mumbai can also call at 6601 6660.
Call charges apply.

 

Do I have to pay any additional charges?

Please refer Schedule of Charges for information on Rates & Fees.

 

What documents do I need to submit to avail a LAP?

Please refer the section documentation for information on documentation.

 

I am interested, how do I apply?

You can approach us in any of the following ways

  • Apply online
  • Write to us on premium.care@db.com 
  • SMS PROP to 561615
  • Call us at our 24 hour Customer Care Centre at 1860 266 6660#
  • Walk into any of our branches.

#Customers outside India need to dial +91 22 6601 6660. Customers in Mumbai can also call at 6601 6660. Call charges apply.

 

Who can be the co-applicants for the loan?

You can include your spouse as a co-applicant for the loan and we shall include his/her income to enhance your Home loan amount. Further, in case there are any other co-owners they also need to be co-applicants.Other than the spouse, please check with your home loan counsellor on the approved co-applicants for the loan.

 

What security/collateral do I have to provide?

Typically the security for the loan is a first and exclusive charge of the property to be financed, by way of deposit of title deeds and/or such other collateral security as may be necessary. The title to the property should be clear, marketable and free from any encumbrances.

Can I prepay my loan?

Yes, you can make your prepayment in either part or full. Please refer Schedule of Charges for charges on prepayment.

Do I need to open an account with Deutsche Bank for availing and/ or servicing the loan?

We will encourage you to start a banking relationship with us so that we will be able to offer host of other value added services, however opening an account with us is not mandatory.

 

What are the stages involved in taking a loan?

There are three main stages:

  • Application - Whereby you submit a completely filled in application with all necessary documents.
  • Sanction - Whereby you get an approval for a specific loan amount based on the value of your property and repayment capabilities.
  • Disbursement - Whereby the loan amount is disbursed.

What are the various types of LAPs that Deutsche Bank provides?

  • Loan Against Home
  • Loan Against Commercial Property 
  • Loan for Commercial Property Purchase 
  • Balance Transfer
  • Top-Up Loan

What is a Monthly Reducing balance?

An Equated Monthly Instalment (EMI) has 2 components, interest and principal. When the interest is calculated on monthly rests, the principal on which the interest is charged goes down every month. This results in a significant saving for the customer over the tenure of the loan.

 

Can I get a loan for commercial property, like offices etc.?

Yes, we give loans to self-employed professionals for commercial property.

 

When will the loan be disbursed?

Your loan will be disbursed on:

  • Your identification and selection of the property
  • Submission of the legal documents
  • Legal and technical clearance of the property
  • Investment of your contribution towards the property

What is an amortization schedule?

An amortization schedule is a table giving the reduction of your loan amount by monthly instalments. The amortization schedule gives the break-up of every EMI towards repayment interest and outstanding principal of your loan.

 

Can I avail the Top-Up loan facility on my LAP?

A Top-Up loan can be availed for various personal requirement based on value of the property. It offers the customer additional funds against the security of the same property. To avail Top-Up loan, a vintage of at least twelve months is required with respect to the loan availed. The basic eligibility for a Top- Up loan is a good repayment track record.

An end use letter is essential, which needs to specify the purpose of your taking the additional Top-Up loan to be collected. The end use of Top-Up Loans can be:

  • Business Need
  • Furnishing of home
  • Consumer durable
  • Child’s education
  • Daughters marriage
  • Family holiday
  • Buy Vehicle
  • Any other personal requirement of the borrower provided it is not speculative or illegal in nature

How is the loan repaid?

All loan repayments are done via Equated Monthly Instalments (EMI).

What is an EMI?

An EMI refers to an Equated Monthly Instalment. It is a fixed amount which you pay every month towards your loan. It comprises of both, principal repayment and interest payment.

 

How is the EMI paid?

The EMI is to be paid every month through Post-dated Cheques (PDCs), Standing Instruction (SI) or Electronic Clearing System (ECS). If you are opting for PDCs, then you will have to provide 36 PDCs upfront.

What if a PDC bounces?

In the case of a bounced cheque or delayed payment, charges and outstanding dues will be charged as per the prevailing company policy.

 

What is pre-EMI interest?

In the case of part disbursement of the loan, monthly interest is payable only on the disbursed amount. This interest is called Pre-EMI interest (PEMI) and is payable monthly till the final disbursement is made, after which the EMIs would commence.

 Category
 Floating Interest Rate

 Home Loan
 10.50% (Base rate +XX)

 LAP – residential
 13.00% (Base rate +XX)

 LAP – Commercial
 13.50% (Base rate +XX)

 

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the Bank is continuously growing in North America, Asia and key emerging markets. With more than 78,000 employees in over 70 countries worldwide, Deutsche Bank offers unparalleled financial services throughout the world. The Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank in India is a fully integrated financial services provider to Indian corporate, institutional and individual clients. Our services include on-shore investment banking, institutional equities broking, asset and private wealth management, retail banking and business processes outsourcing.

Loan Against property lets you unlock the full potential of your property, and use it to build a bigger life for yourself. Whether your property is residential, industrial or commercial, a loan against property will ensure maximum finance, taking care of your unique needs as either a salaried or self-employed individual. At My Loan Partner, we help to unlock the wealth in our client's real estate assets.

Your loan application is now a very simple process as never before and we will get your loan approved asap.

We have multiple options of financial institutions to provide various types of financial services to our esteemed customers at their doorsteps at competitive rates.

We are thus providing a list of documents which are required from your side to get your loan approved from the respective banks and financial institutions.

List of documents for Salaried persons
. Proof of Identity:- Passport/Driving Licence/Voters ID/PAN Card(any one).
. Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
. Latest 3 months Bank Statement(where salary/income is credited).
. Salary slips for last 3 months.
. 2 Passport Size Photographs.

List of documents for Self-Employed
. KYC Documents:- Proof of Identity;Address proof;DOB proof.
. Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
. Income proof(audited financials for the last two years).
. Latest 6 months Bank statement.
. Office address proof.
. Proof of residence or office ownership.
. Proof of continuity of business.

Interested? Please leave your details and we will contact you soon