Features of Dena Bank Plot Loan
Dena Bank Plot Loan has some exciting features that can be beneficial for anyone applying for it.
| Interest Rate | 7.25%-9.05% |
| Processing Fees | 0.5% of Loan Amount |
| Loan Tenure | 1 year to 30 years |
| Pre-closure charges | Nil |
| Partial pre-payment charges | Nil |
Benefits of Dena Bank Plot Loan
Dena Bank Plot Loan provides the following benefits:
- Dena Bank provides various kinds of loans such as plot loans, plot+ construction loans, and home loans, etc.
- Dena Bank offers a home loan as high as Rs. 10 crores for the purchase and construction of the land.
- It also offers up to 25 years for repayment.
- Dena Bank has fast approval and disbursement processes
- They also have experts determined to help you at any time.
Eligibility Criteria for Dena Bank Plot Loan
The Syndicate Bank Plot Loan has a set of criteria for the application of a loan. They are as follows:
- The applicant must be an Indian resident above 18 years of age. A non-resident can also avail of it.
- The applicant should have a regular source of income
- When the loan matures, the applicant’s age should be less than the official age of retirement if he happens to be a salaried individual. If a self-employed employee, then the person has to be below 65 years of age before the maturity of the loan.
Plot Loan
Plot Loans are unique facilities that are provided by many banks and non-banking financial companies. They allow you to purchase land and build your dream home on it. Plot loans, also called land loans, are often confused with home loans. Though the two have a bit of similarity in them, they are also different from each other, and we should understand the difference between plot loans and home loans.
Land Loan Interest Rate
Land loans or plot loans provide the same interest rate as home loans, though some banks may take it upon themselves to give more interest rates for one or the other.
Loan to Value Ratio
Loan to Value Ratio, also known as LTV in short is the amount of money that one has to give to the bank against the property.
Lower Tenure
Plot loans provide a tenure of 15 years, while home loans provide a tenure of 30 years
Tax Benefits
Plot Loans do not provide enough tax benefits. Home loans, on the other hand, provide more tax benefits.
Prepayment Penalty
There is no penalty for floating-rate loans, but a non-individual borrower provides a 2-4% penalty.
Types of Plot Loans for Dena Bank
Dena Bank Plot Loans can be of two significant types:
Plot Loan
A plot loan allows one to purchase land that an individual can use in any way required. Plot Loans give no tax returns and are therefore claimed to be risky. Plot loans are usually approved when the land in question is in the same municipality as the bank.
Plot + Construction Loan
Plot+ construction loan is something that allows a person to not only purchase land but also construct on it. A time is set, based on which the construction work has to begin and end, failure to do which will lead to an increase in the interest rate.
Dena Bank Plot Loan for Self-employed Individuals
Dena Bank provides the below-mentioned plot loans for self-employed individuals
Who Can Apply for a Dena Bank 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 Self-employed Individuals
There are two kinds of plot loans Dena Bank provides. A person can choose one according to their choices:
- Adjustable-rate Home Loan: Under this home loan, the interest rate is reviewed and changed every six months. The interest rate increases and so does the EMI. This reduces the principal amount as well.
- TruFixed Home Loan- 2/3 Years Fixed Rate Variant: Under this loan, a person gets a mixture of both kinds of loans. The interest rate remains fixed for 2/3 years and then it converts into an adjustable-rate.
Dena Bank Plot Loan Interest Rates for Self-employed Individuals
Adjustable-Rate Home Loan
| 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 Home Loan-2/3 Years 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 |
Dena Bank Plot Loan Fees for Self-employed Non-professionals
Adjustable-Rate Home Loan
| 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 Home Loan- 2/3 Years 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 |
Dena Bank Plot Loan Documents Required for a Self-employed Individual
| ID, Adress, and Age Proof | Passport, PAN, Aadhar Card, Voter Card |
| Salary Slip | ITR, and financial statements, including balance sheets |
| Bank Statements | Bank Statements of the past 12 months |
| Others | Filled up form with photographs |
Dena Bank Plot Loan Fees for Self-employed Individuals
Processing Fees
The processing fees are between Rs. 2,500-5,000
Prepayment 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 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.
Dena Bank Plot Loan for Salaried Individuals
A salaried individual can also avail of a plot loan by following the eligibility criteria
Who Can Apply for a Dena Bank Plot Loan for Salaried Individuals
| 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
1. Adjustable-Rate Home Loan: Such loans increase the interest rate and the EMI every six months and the principal amount is reduced as well.
2. TruFixed Home Loan- 2/3 Years Fixed Rate Variant: Such loans are a mixture of the two kinds. The interest rate remains the way it is for 2/3 years and then it increases and gets converted to an adjustable-rate.
Dena Bank Plot Loan Interest Rate for Salaried Individuals
Adjustable-Rate Home Loan:
| 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 Home Loan- 2/3 Years 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 |
Dena Bank Plot Loan Documents Required for Salaried Individuals
| ID and Residence Proof | Passport, Aadhar Card, Voter ID |
| Salary slip | Last 3 months |
| Bank statements | Past 6 months |
| Others | Filled up form with photographs |
Dena Bank Plot Loan Fees for Salaried Individuals
Processing Fees
The processing fees are between Rs. 2500 to Rs. 5000
Pre-payment Fees
| 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 Dena Bank Plot Loan with Dialabank
- Visit Dialabank
- Check the Dena Bank Plot Loan
- Fill out the form online
- Wait for an expert to connect with you.
Additional Tips for Dena Bank Plot Loan
- Check the Dena Bank website for more details
- Make sure you are clear on everything before applying.
- Check your documents
- You can also call 9878981166 for further details.
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 Dena Bank?
The interest rate of Dena Bank Plot Loan is 7.25%
✅What is Dena Bank Plot Loan?
Dena Bank 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 Dena Bank Plot Loan?
The processing fees on Dena Bank Plot Loan are 2,500-5,000 rupees.
✅What is the loan tenure of the Dena Bank Plot Loan?
Up to 30 years
✅How much EMI per lakh can be fixed on the Dena Bank Plot Loan?
Rs.826 per lakh
✅How can I avail plot loan from Dena Bank?
You need to fulfill the eligibility criteria and provide the required documents.
✅How to apply for Dena Bank Plot Loan?
You can visit Dialabank, open the Dena Bank Plot Loan page, and fill out the application form.
✅How to repay the Dena Bank 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 Dena Bank Plot Loan eligibility?
You can check your eligibility using the eligibility criteria calculator on the Dena Bank website.
✅What is the Dena Bank Plot Loan phone number?
If you have any questions about the Dena Bank Plot Loan, you can call 9878981144
✅What is the Plot Loan interest rate for women?
The plot loan interest rate for women is 7.25%
✅What is Dena Bank plot loan interest rates for salaried individuals?
The interest rate for Dena Bank Plot Loan for salaried individuals is 7.05% to 8.0%
✅What is Dena Bank plot loan interest rates for self-employed individuals?
The interest rate for Dena Bank Plot Loan for self-employed individuals is 7.25% to 7.75%
✅What is Dena Bank plot loan interest rates for self-employed non-professionals?
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.
