DCB Bank Home Loan EMI Calculator

DCB Bank has emerged as a reliable financial service provider in India with services like housing loans. Eligible borrowers can seek home loans from DCB Bank starting at a rate of interest of 9.75% per annum. The EMI payable for a home loan from this bank can be easily calculated using the DCB Bank EMI calculator. To use this online DCB Home EMI calculator, the user must fill in loan details like the preferred loan amount, loan tenure, and interest rate. Let us throw some more light on the benefits of using the DCB Bank home loan calculator, how to use it, and the factors affecting the EMI calculation in detail here. 

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Break up of Total Payment

Your monthly EMI is

Total Amount Payable

  • Principal Amount

  • Total Interest

How to Calculate DCB Bank Home Loan EMI?

The easiest way to calculate the home loan Equated Monthly Installments is through the online home loan EMI calculator. These calculators are user-friendly and help save time to get accurate results for effective financial planning. The user merely needs to enter main loan details like loan tenure, loan amount, and interest rate, for which one needs to calculate the home loan EMI. 

DCB Bank Home Loan EMI Calculator Formula

The primary objective of using the DCB  home loan calculator online is to get clarity on what amount a borrower needs to pay each month to repay the loan amount and the interest accrued. The DCB home loan calculation formula is explained below for your reference:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1] 

Here,

P means Principal Loan Amount
R means Rate of Interest 
N means No. of installments

Factors Affecting DCB Bank Bank Home Loan EMI

Your DCB Bank home loan EMI is subject to vary depending on certain factors. Listed below are the three prime DCB Bank home loan criteria that can impact your housing loan EMI in a significant way:

Principal Amount: The first crucial factor to impact your home loan EMI is the principal amount or the loan amount. It goes by the simple rule that the higher the amount you borrow, the higher would be the repayment.

Interest Rate: The interest rate matters the most when it comes to repaying the loan. Therefore, people look for home loans at a lower rate of interest. They do so because the lower the interest rate,  the lower your home loan EMI would be, and vice versa. 

Tenure: The third essential factor that needs to be considered when applying for a home loan is tenure. The longer tenure you choose to repay, the lighter would be the EMI constraints and the shorter tenure you choose, the heavier would be the EMI repayments. 

Benefits of Using the DCB Bank Home Loan Calculator

We have been talking about the EMI calculator formula and how to use it, but do you know the benefits of the DCB home loan Equated Monthly Installments calculator? If not, continue reading the pointers below, and you will understand how advantageous it is to access this online tool:

Time Saver Tool: In today’s fast life, who has time to calculate home loan EMIs? So, it is advisable to save time with the online calculator EMI tools like the one provided at the BASIC Home Loan website: EMI.

Free and Accurate: Not just time saving, using the housing loan  EMI calculator is also money-saving. You do not have to pay anything to use this useful tool, and you are free to use it multiple times; every time, it will provide you with accurate results if you enter the right details.

Comparison Analysis: Another remarkable advantage of using an online home loan EMI calculator is that it makes way for a detailed comparison analysis. As a potential borrower, you can check how much the loan amount will make you liable to pay, how much EMI, and whether it is affordable for you. 

DCB Bank Home Loan Interest Calculator Formula

The DCB Bank home loan interest rate calculator is a simple tool used by borrowers to calculate the interest rate on a housing loan. Alternatively, you may calculate the housing loan interest rate manually using a mathematical formula. Check out the DCB home loan rate of interest calculator formula explained below:

Total Interest = (P X R X T) / 100

Here,

P means Principal Loan Amount
R means Rate of Interest 
T means Tenure 

DCB Bank Home Loan Eligibility Criteria

It's true that banks and non-banking financial companies offer easy home loans to applicants, but how do you know whether you qualify for the same or not? It can be examined using the online DCB home loan eligibility calculator. This tool asks for some general information like your age, salary or income, employment status, credit score, nationality, and any other loan details to determine whether or not you qualify for a DCB Bank home loan. 

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Comparison of DCB Bank Home Loan EMI with Other Popular Banks

Even if you have made up your mind to apply for a DCB Housing Loan, you must compare its EMI with the EMI payable if you choose some other bank or non-banking financial company. So,  for this, we are now presenting a comparison table to help you see a comparison between the DCB EMI with the Equated Monthly Installments for five leading banks and housing companies for a 10-year tenure:

Bank Name Rate of Interest Rs. 10 lakhs Rs. 20 lakhs Rs. 30 lakhs Rs. 40 lakhs Rs. 50 lakhs
DCB 9.75% p.a. onwards Rs. 13,077 Rs. 26,154 Rs. 39,231 Rs. 52,308 Rs. 65,385
Shriram Housing Finance 9.50% p.a. onwards Rs. 12,940 Rs. 25,880 Rs. 38,819 Rs. 51,759 Rs. 64,699
India Shelter Home Loan 11.00% p.a. onwards Rs. 13,493 Rs. 26,987 Rs. 40,480 Rs. 53,974 Rs. 67,467
ICICI Bank 9.00% p.a. onwards Rs. 12,668 Rs. 25,335 Rs. 38,003 Rs. 50,670 Rs. 63,338
Piramal Housing Finance 11.00% p.a. onwards Rs. 13,775 Rs. 27,550 Rs. 41,325 Rs. 55,100 Rs. 68,875
Motilal Oswal Housing Finance 11.75% p.a. onwards Rs. 14,203 Rs. 28,406 Rs. 42,609 Rs. 56,812 Rs. 71,015
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DCB Bank Home Loan Amortization Schedule

The DCB Home Loan Amortization Schedule helps borrowers plan for early repayments, as it allows them to examine their schedule and check the overall breakup of the payments they make every month for a housing loan. Basically, an amortization schedule provides a comprehensive overview of the loan’s repayment to the borrower for better financial planning for the month. 

Steps to Calculate DCB Bank Home Loan Amortized Interest

Step 1: First, divide the DCB housing loan interest rate by the EMIs you pay annually. For example, if you have a 9.75% p.a. Rate of interest and you prefer making monthly payments, then you are supposed to divide 9.75% by 12 = 0.0081

Step 2: The second step would be to multiply this number you calculated with your remaining loan amount to derive the monthly interest payable. For example, if your home loan amount balance is Rs. 5,500,000, the interest for the first month would be 5,500,000 x 0.0081 = Rs. 44,687.5

Step 3: The third step in this procedure would be to subtract the monthly interest you just calculated from your fixed EMI to learn about the principal payable in the first month. For instance, if your monthly EMI is Rs. 52,168, you will pay Rs. 52,168- Rs. 44,687.5 = Rs. 7,480.5 as the loan principal amount, and this figure will be subtracted from your remaining loan balance for calculating the same for the next month and so on

Step 4: These steps must be repeated further to calculate the outstanding loan amount, interest, and principal for each month

Feel free to understand the DCB Bank Home Loan Amortization Schedule 2024 through the table displayed below:
Year/Month Principal Amount Interest Loan EMI
2024 Rs. 93,888.07 Rs. 532,127.93 Rs. 5,500,000.00 Rs. 626,016
1st Month Rs. 7,480.50 Rs. 44,687.50 Rs. 5,500,000.00 Rs. 52,168
2nd Month Rs. 7,541.28 Rs. 44,626.72 Rs. 5,492,519.50 Rs. 52,168
3rd Month Rs. 7,602.55 Rs. 44,565.45 Rs. 5,484,978.22 Rs. 52,168
4th Month Rs. 7,664.32 Rs. 44,503.68 Rs. 5,477,375.67 Rs. 52,168
5th Month Rs. 7,726.60 Rs. 44,441.40 Rs. 5,469,711.35 Rs. 52,168
6th Month Rs. 7,789.37 Rs. 44,378.63 Rs. 5,461,984.75 Rs. 52,168
7th Month Rs. 7,852.66 Rs. 44,315.34 Rs. 5,454,195.38 Rs. 52,168
8th Month Rs. 7,916.47 Rs. 44,251.53 Rs. 5,446,342.71 Rs. 52,168
9th Month Rs. 7,980.79 Rs. 44,187.21 Rs. 5,438,426.25 Rs. 52,168
10th Month Rs. 8,045.63 Rs. 44,122.37 Rs. 5,430,445.46 Rs. 52,168
11th Month Rs. 8,111.00 Rs. 44,057.00 Rs. 5,422,399.83 Rs. 52,168
12th Month Rs. 8,176.90 Rs. 43,991.10 Rs. 5,414,288.83 Rs. 52,168
Disclaimer: This table was intended to offer you an overview of the Equated Monthly Installments for a housing loan amount of Rs. 5,500,000 at a 9.75% interest rate for 20 years repayment duration. Please note it is subject to change with the changes in the figures used in the table.

FAQs

Yes, you can use this calculator even if you are not a DCB Bank customer or have not applied for a home loan from this bank. 

Simple loan details like the principal loan amount, loan interest rate, and loan tenure will be asked to use the DCB calculator. 

There is no limit to using the DCB Bank home loan calculator; you can use it multiple times for as many times for different tenures and loan amounts as you want. 

Yes, many banks and financial institutions charge a prepayment fee if the loan amount is prepaid. You must check for the same from the respective lending bank.

Yes, the DCB Bank home loan EMI calculator is a free-to-use online tool.

You can use the DCB Bank home loan EMI calculator online by entering details like loan tenure, rate of interest, and loan amount. 

The interest rate on a home loan in DCB Bank is calculated depending on the repo rate, market conditions, credit score of the borrower, loan tenure chosen, and the type of interest rate: fixed or floater chosen by the borrower.