Features of DCB Plot Loan
| Interest Rate | 10.24% |
| Loan Amount | Loan amount ranging from Rs. 10 lakh to Rs. 5 crores |
| EMI | EMI charged at low rates |
| Prepayment | No charges |
Eligibility Criteria of DCB Plot Loan
To avail of the DCB Bank Plot Loan, one has to fulfill some eligibility criteria that are deemed fit by the bank experts. The eligibility criteria are as follows:
Salaried Employees:
- The individual’s minimum age should be 30 years and a maximum of 65 years.
- The minimum income for people residing in Chennai, Pune, and Hyderabad should be 2.5 lacs per annum
- Minimum income for people in other locations should be 3 lacs per annum
- There should be a co-applicant
Self-employed Professionals/Non-professionals:
- The individual’s minimum age should be 25 years and the maximum age should be 65 years of age.
- The minimum income for people residing in Chennai, Pune, and Hyderabad should be 2.5 lacs per annum
- Minimum income for people in other locations should be 3 lacs per annum
- There should be a co-applicant
Benefits of DCB Plot Loan
DCB PLot Loans can bring you many benefits if you apply for the same. 
- DCB provides customers with an interest rate of 10.24%
- The loan tenure is up to 20 years
- Loan to value ratio is provided at up to 90% of the property value
- Processing Charges amount up to 2% of the loan amount, and subject to a minimum amount of Rs. 5,000.
Plot Loan
A Plot Loan is a loan that is availed by eligible individuals, who wish to build their dream houses. It allows one to fulfill his or her dreams. This unique facility provided by certain banks in India is an excellent way to take loans for buying an empty land.
Plot Loans are also called Land Loans and are unfortunately used interchangeably with the phrase home loans. The two are very different from each other and before we move on, we should understand the difference between the two.
Land Loan Interest Rates
The rate of interest is the same for both, a plot loan and a home loan, though, it varies from bank to bank to provide higher interests for the land loan instead of the home loan.
Loan to Value Ratio
This refers to the amount of loan that individual borrowing money will get against his property. LTV is lower for land purchases with construction than with home loans.
Lower Tenure
Land Loans provide a shorter tenure of up to 15 years. Home loans, however, offer up to 30 years of tenure.
Tax Benefits
Home Loans qualify for a tax deduction of the actual amount that is mentioned under Section 80C of the Income Tax Act. Tax benefits on land loans, however, are not available.
Prepayment Penalty
Floating rate loans that are sanctioned to certain borrowers are free from the prepayment penalty for both a home loan and a land loan but both may charge 2-4% of the penalty if a non-individual borrower has taken the money.
Types of Plot Loans DCB provides
DCB provides you with the two basic loans which are Plot Loans and Plot+ Construction Loans. Let’s see the difference between the two:
Plot Loans
A plot loan is by an individual when he or she wishes to purchase land. The individual can decide what he or she wants to do with the land. The bank, in such a case, does not interfere, however, if individual defaults, the bank will be forced to intervene. These are fairly risky loans as they have no tax benefits. The plot loan should be taken on land in the same municipality as the bank.
Plot+ Construction Loans
A plot+ construction loan is taken not only for the purchase of land but also to construct on it. The bank expects the construction to begin and end within the stipulated time, failure to do which will increase the interest rate.
DCB Plot Loan for Self-employed Individuals
DCB Plot Loan has many exciting offers and benefits waiting for any self-employed applicant fitting the criteria.
Who Can Apply for a Self-employed DCB Plot Loan
|
LOAN AMOUNT |
MAXIMUM FUNDING |
|
Above Rs. 30 lakh to up to 75 lakh. |
Up to 80% of the market value or document cost of the property, whichever is lower. |
|
Above Rs. 75 lakh. |
Up to 75% of the market value or document cost of the property, whichever one happens to be lower. |
Types of Plot Loan for Self-employed Individual
DCB Plot Loan has various kinds of plot loans that any self-employed individual, professional or non-professional along with a salaried individual can avail of.
- Adjustable-Rate Loan: Adjustable-Rate Loan refers to the Retail Prime Lending Rate. It is revised every six months. There is a rise in the interest rate that increases the EMI, which in turn reduces the principal amount.
- TrueFixed Home Loan- 2/3 Year Fixed Rate Variant: This loan provides half of an adjustable-rate and half of a fixed rate. The rate is changed after 2/3 years.
DCB Plot Loan Interest Rate for Self-employed Individuals
Adjustable Plot Loan Rate
| Loan Slab | Home Loan Interest Rates (% p.a) |
|---|---|
| For women* (up to 30 lakh) | 7.05 to 7.55 |
| For others* (up to 30 lakh) | 7.10 to 7.60 |
| For women* (above 30 lakh) | 7.30 to 7.80 |
| For others* (above 30 lakh) | 7.35 to 7.85 |
| For Women* (75.01 Lakhs & Above) | 7.40 to 7.90 |
| For Others*(75.01 Lakhs & Above) |
7.45 to 7.95 |
TruFixed Loan- 2 Year Fixed Rate Variant
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (up to 30 Lakhs) | 7.50 to 8.0 |
| For Others* (up to 30 Lakhs) | 7.55 to 8.05 |
| For Women* (Above 30 Lakhs) | 7.65 to 8.15 |
| For Others* (Above 30 Lakhs) | 7.70 to 8.20 |
| For Women* (75.01 Lakhs & Above) | 7.75 to 8.25 |
| For Others*(75.01 Lakhs & Above) | 7.80 to 8.30 |
DCB Plot Loan for Self-employed Non-professionals
Adjustable Home Loan Rate
| Loan Slab | Interest Rates (% p.a.) |
|---|---|
| For Women* (Up to 30 Lakhs) | 7.20 to 7.70 |
| For Others* (Up to 30 Lakhs) | 7.25 to 7.75 |
| For Women* (Above 30 Lakhs) | 7.45 to 7.95 |
| For Others* (Above 30 Lakhs) | 7.50 to 8 |
| For Women* ( 75.01 Lakhs & Above) | 7.55 to 8.05 |
TruFixed Loan-2 Year Fixed Rate Variant
| Loan Slab | Interest Rates (% p.a.) |
|---|---|
| For Women* (up to 30 Lakhs) | 7.65 to 8.15 |
| For Others* (up to 30 Lakhs) | 7.70 to 8.20 |
| For Women* (Above 30 Lakhs) | 7.80 to 8.30 |
| For Others* (Above 30 Lakhs) | 7.85 to 8.35 |
| For Women* ( 75.01 Lakhs & Above) | 7.90 to 8.40 |
| For Others*( 75.01 Lakhs & Above) | 7.95 to 8.45 |
DCB Plot Loan Documents Required for Self-employed Individuals
|
ID Proof |
Passport/ Driver’s License/Voter ID/Pan Card |
|
Address Proof |
Leave and License/ Utility Bill |
| Business Proof |
VAT/ Service Tax
|
| Property Documents |
Conveyance Deed, Sales Deed, Allotment Letter, Possession Letter, Latest Property Tax Receipt. |
| Others |
Filled up form, 2 passport size photos |
DCB Plot Loan Fees for Self-employed Individuals
Processing Fees:
The processing fees for the DCB Plot Loan is 2,500-5,000 rupees.
Pre-payment Charges
|
Adjustable-Rate Home Loans |
|
|
Fixed-Rate Home Loans |
|
|
Fixed and Variable Rate Loans |
Fixed and Variable Rate Loans (Combination rate)
|
Conversion Fees
| Name of the service | Name of the charge/fee levied | When payable | Frequency | Amount in rupees |
|---|---|---|---|---|
| Switch to a lower rate in Variable Rate Loans | Conversion fees | On conversion | On every spread change | Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower. |
| Switching to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension) | Conversion fees | On conversion | Once | Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower. |
| Switching from Trufixed Fixed Rate to Variable Rate Loan | Conversion fees | On conversion | Once | 1.75% of the principal outstanding and undisbursed amount plus taxes at the time of conversion. |
| Switch to Lower Rate (Non-Housing Loans) | Conversion fees | On conversion | On every spread change | Half of the spread difference on the principal outstanding and undisbursed amount plus taxes, with a minimum fee of 0.5% and a maximum fee of 1.50%. |
| Switch to Lower Rate (Non-Housing Loans) | Conversion fees | On conversion | On every spread change | 0.5% of principal outstanding and undisbursed amount plus taxes at the time of conversion. |
Cheque Dishonour Charges
The Cheque Dishonour Charges are 200 rupees.
Fees on Account of External Opinion
The external opinion can be from technical advocates and the fees can be paid directly to the person involved.
Property Insurance
Customers are advised to pay a certain amount to the insurance providers.
Incidental Charges
The incidental charges are used to cover certain other expenses for a default customer.
Statutory / Regulatory Charges
The customer is responsible for any charges that are applicable on stamp duty/MOD/MOE/Central Registry of Securitisation Asset Reconstruction and Security Interest of India.
List of Documents
Maximum of 500 rupees.
Photocopy of Documents
Maximum of 500 rupees.
Increase/Decrease in Loan Term
Maximum of 500 rupees.
Disbursement Cheque Cancellation Charge Post Disbursement
Maximum of 200 rupees.
Re-appraisal of Loan After 6 Months from Sanction
Maximum of 2000 rupees plus applicable tax.
PDC Swap
Maximum of 200 rupees.
DCB Plot Loan for Salaried Individuals
DCB Plot Loan offers benefits for certain salaried individuals who successfully fulfill the eligibility criteria.
Who Can Apply for a Salaried DCB Plot Loan
| LOAN AMOUNT | MAXIMUM FUNDING |
| Above Rs. 30 lakh to up to 75 lakh. | Up to 80% of the market value or document cost of the property, whichever is lower. |
| Above Rs. 75 lakh. | Up to 75% of the market value or document cost of the property, whichever one happens to be lower |
Types of Plot Loans for Salaried Individuals
DCB has various kinds of plot loans that any salaried individual can choose from depending on their interests.
- Adjustable-Rate Loan: This means the Retail Prime Lending Rate. It is revised and changed every six months. There is an increase in the interest rate which results in an increase in the EMI and causes the principal amount to be reduced.
- TrueFixed Home Loan- 2/3 Year Fixed Rate Variant: This loan provides only half of an adjustable-rate and another half of a fixed rate. The rate is changed after 2/3 years.
DCB Plot Loan Interest Rate for Salaried Individuals
Adjustable Plot Loan Rate:
| Loan Slab | Home Loan Interest Rates (% p.a) |
|---|---|
| For women* (up to 30 lakh) | 7.05 to 7.55 |
| For others* (up to 30 lakh) | 7.10 to 7.60 |
| For women* (above 30 lakh) | 7.30 to 7.80 |
| For others* (above 30 lakh) | 7.35 to 7.85 |
| For Women* (75.01 Lakhs & Above) | 7.40 to 7.90 |
| For Others*(75.01 Lakhs & Above) | 7.45 to 7.95 |
TruFixed Loan- 2 Year Fixed Rate Variant:
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (up to 30 Lakhs) | 7.50 to 8.0 |
| For Others* (up to 30 Lakhs) | 7.55 to 8.05 |
| For Women* (Above 30 Lakhs) | 7.65 to 8.15 |
| For Others* (Above 30 Lakhs) | 7.70 to 8.20 |
| For Women* (75.01 Lakhs & Above) | 7.75 to 8.25 |
| For Others*(75.01 Lakhs & Above) | 7.80 to 8.30 |
DCB Plot Loan Documents Required for Salaried Individuals
|
ID Proof |
Passport/ Driver’s License/Voter ID/Pan Card |
|
Address Proof |
Leave and License/ Utility Bill |
| Income Proof |
6 months salary slip, 2 years Form 16, 6 months bank statements showing salary credit and any EMI debit.
|
| Property Documents |
Conveyance Deed, Sales Deed, Allotment Letter, Possession Letter, Latest Property Tax Receipt. |
| Others |
Filled up form, 2 passport size photos |
DCB Plot Loan fees for Salaried Individuals
Processing Fees:
The processing fees for the DCB Plot Loan is 2,500-5,000 rupees.
Pre-payment Charges
|
Adjustable-Rate Home Loans |
|
|
Fixed-Rate Home Loans |
|
|
Fixed and Variable Rate Loans |
Fixed and Variable Rate Loans (Combination rate)
|
Conversion Fees
| Name of the service | Name of the charge/fee levied | When payable | Frequency | Amount in rupees |
|---|---|---|---|---|
| Switch to a lower rate in Variable Rate Loans | Conversion fees | On conversion | On every spread change | Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower. |
| Switch to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension) | Conversion fees | On conversion | Once | Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower. |
| Switch from Trufixed Fixed Rate to Variable Rate Loan | Conversion fees | On conversion | Once | 1.75% of the principal outstanding amount plus taxes at the time of conversion. |
| Switch to Lower Rate (Non-Housing Loans) | Conversion fees | On conversion | On every spread change | Half of the difference on the principal outstanding amount plus taxes, with a minimum fee of 0.5% and a maximum fee of 1.50%. |
| Switch to Lower Rate (Non-Housing Loans) | Conversion fees | On conversion | On every spread change | 0.5% of principal outstanding and undisbursed amount plus taxes at the time of conversion. |
Cheque Dishonour Charges
The Cheque Dishonour Charges are 200 rupees.
Fees on Account of External Opinion
The external opinion is from technical advocates and the fees can be paid off directly to the person involved.
Property Insurance
Customers are asked to pay a certain amount of money to the insurance providers.
Incidental Charges
The incidental charges are used to cover certain extra expenses for a default customer.
Statutory / Regulatory Charges
The customer is responsible to pay for any charges that are applicable on stamp duty/MOD/MOE/Central Registry of Securitisation Asset Reconstruction and Security Interest of India.
List of Documents
Up to 500 rupees.
Photocopy of Documents
Up to 500 rupees.
Increase/Decrease in Loan Term
Up to 500 rupees.
Disbursement Cheque Cancellation Charge Post Disbursement
Up to 200 rupees.
Re-appraisal of Loan After 6 Months from Sanction
Up to 2000 rupees plus applicable tax.
PDC Swap
Up to 200 rupees.
How to Apply for DCB Plot Loan with DialaBank
- Visit the website of Dialabank
- Go to DCB Bank Plot Loan
- Check the details
- Check if you are available
- Fill up the form online
- Sit back and wait for an expert to get in touch with you.
Additional Tips for DCB Plot Loan
- Check your eligibility before applying to avoid rejection
- Make sure you have all the documents to avoid the hassle
- Make sure you check all the details beforehand to avoid any confusion and issues.
- You can also call 9878981166
Plot Loan for Construction vs Home Loan
|
Parameters |
Plot Loans with Construction | Home Loans |
| Tenure |
Up to 15 years |
Up to 30 years |
| Tax Benefits |
The plot loan and its benefits can be claimed after construction |
Home Loans qualify for a tax deduction on the payment of the actual amount. |
| Interest |
Similar to home loans but they can get higher |
Starting from 7.45% |
| LTV |
Similar to home loans but they can get higher |
Up to 90% of the property’s value |
| Prepayment value |
Nil for people with floating rates |
Nil for people with floating rates |
FAQs
✅ What is the plot loan interest rate of DCB?
The interest rate of the DCB Plot Loan is 10.24%
✅What DCB Plot Loan?
DCB Plot Loan allows one to purchase land to construct on it. Plot loans are of two types with each having specific functions.
✅How much processing fee is applicable on DCB Plot Loan?
The processing fees on DCB Plot Loan are 2,500-5,000 rupees.
✅What is the loan tenure of the DCB Plot Loan?
Up to 30 years
✅How much EMI per lakh can be fixed on the DCB Plot Loan?
Rs. 981 per lakh
✅How can I avail plot loan from DCB?
You need to fulfill the eligibility criteria and provide the required documents.
✅How to apply for DCB Plot Loan?
You can visit Dialabank, open the DCB Plot Loan page, and fill out the application form.
✅How to repay the DCB Plot Loan earlier than the schedule?
You can make extra payments than the stipulated amount to repay the loan early.
✅Is it possible to repay my loan earlier than the schedule?
Yes, it is possible to repay the loan earlier than the schedule.
✅How to check DCB Plot Loan eligibility?
You can check your eligibility using the eligibility criteria calculator on the DCB website.
✅What is the DCB Plot Loan phone number?
If you have any questions about the DCB Plot Loan, you can call 9878981144
✅What is the Plot Loan interest rate for women?
The plot loan interest rate for women is 7.05%
✅What is DCB plot loan interest rates for salaried individuals?
The interest rate for DCB Plot Loan for salaried individuals is 7.05% to 8.0%
✅What is DCB plot loan interest rates for self-employed individuals?
The interest rate for DCB Plot Loan for self-employed individuals is 7.25% to 7.75%
✅What is DCB plot loan interest rates for self-employed non-professionals?
The interest rate for women is up to 7.25 to 7.75%
✅How is a plot loan different from a home loan?
A plot loan is availed to buy residential land while a home loan is taken to buy residential built-up/under-construction property.
✅Can I take a plot loan with a home loan?
No. You can avail of either one of them.
✅What is the maximum amount that I can take as a loan?
The loan amount is up to 70% of the property value.
✅Can a plot loan finance investment in any plot, anywhere?
A plot loan can be financed only within municipal limits of pre-specified locations or, in cases of direct allotment by the concerned development authority, outside municipal limits.
✅What is a Balance Transfer on Plot Loan?
A home loan balance transfer can be availed at an interest rate starting from 6.75%.
✅Do I get any tax benefits on a plot loan?
No.
✅How many years can I keep the plot of land before starting construction?
If the plot loan has been taken specifically for construction, the construction should begin immediately.
