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DCB Bank Home Loan EMI Calculator

Loan amount
Rate of interest (p.a)
%
Loan tenure
Yr
Monthly EMI
Principal amount
Total interest
Total amount
Principal amount
Interest amount

DCB Bank offers its customers home loans up to the number of Rs. 5 crores and for tenures that range up to a period of 20 years. These home loans are offered to salaried and employed individuals. These home loans are made easily repayable through an EMI, which means an equated monthly installment.

You can also estimate your DCB Bank home loan EMI before you can opt for the loan itself. In order to make that estimation, you can use the DCB Bank Home Loan Calculator.

Meaning of the DCB Bank Home Loan Interest Rate Calculator

This DCB Bank home loan calculator is an automated tool with a formula box that can help you identify the EMI amount and the interest amount instantly. You would not have to do any manual calculations, and you can incur human errors.

The calculator will always give you instant solutions to estimate these amounts over your housing loan from the DCB Bank.

How Does this DCB Bank Housing Loan Interest Rate Work?

The DCB Home Loan Calculator uses a formula box, as already mentioned, and it is explained below.

The formula that is used:

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

The letters in this formula mean:

P = Principal Amount for the Home Loan from DCB Bank

R = The interest Rate that the Bank offers you.

N = The period you want to borrow for.

This formula can better be explained with an example:

Miss. Sowmya wants to take a home loan of Rs. 32.5 lakhs for a period of 10 years at the rate of 8.55%. She will borrow the loan in the month of July 2022. Her EMI amount and interest amount can be known in the following manner.

P = Rs. 32.5 lakhs

R = 8.55%

N = 10 Years

Therefore the;

EMI = Rs. 40,382

How to Use the DCB Bank Home Loan Calculator?

Using this calculator is simple, and all that you would have to do is follow the steps that have been mentioned below:

Step 1

You will have to enter the principal amount that you want for a housing loan from DCB Bank.

Step 2

You will then have to provide the tenure that you want to take in order to repay the loan.

Step 3

You would then have to provide the rate of interest that the Bank is offering to you have the specific home loan.

After all this data has been updated on the calculator, the calculator will automatically show you the EMI amount that you have to pay each month, along with the total interest rate that the Bank is charging on your home loan.

Amortization Table of the DCB Bank Home Loan

Based on the home loan example that is mentioned above, we can derive an amortization table from showing the break-up values:

Year

Interest

Principal

Total Payment

Outstanding Loan

2022

1,37,079

1,05,215

2,42,294

31,44,785

2023

2,60,223

2,24,367

4,84,590

29,20,419

2024

2,40,270

2,44,319

4,84,589

26,76,101

2025

2,18,541

2,66,046

4,84,587

24,10,054

2026

1,94,882

2,89,705

4,84,587

21,20,348

2027

1,69,116

3,15,472

4,84,588

18,04,877

2028

1,41,062

3,43,526

4,84,588

14,61,352

2029

1,10,514

3,74,076

4,84,590

10,87,276

2030

77,246

4,07,343

4,84,589

6,79,933

2031

41,020

4,43,569

4,84,589

2,36,365

2032

5,929

2,36,365

2,42,294

0

Features and Advantages in Using the DCB Bank Home Loan EMI Calculator

The DCB Bank home loan calculator has various benefits and features that it offers to the users, and some of the major ones are:

  • The calculator can give you instant results without having to wait.
  • You would not have to deal with human error that usually comes with manual calculations.
  • You would not have to register or sign in in order to use this calculator, and all you would have to do is gain access to the portal to use the tool.
  • The tool will only ask you for minimal information about the loan, which would be the principal amount, the tenure, and the interest rate.

DCB Bank Home Loan EMI Calculator - FAQs

Q1. What is the DCB Home loan interest rate?

The DCB Home loan interest rate will vary each financial year. Moreover, the Bank has several types of interest rates that it offers to its customers. The salaried and self-employed customers will therefore have different rates of interest.

Q2. What details will the calculator ask me to provide?

The DCB Bank home loan calculator will ask you to provide the interest rate that the Bank offers, the principal amount, and the tenure of the loan.

Q3. Can I use this calculator when I am not a customer of the DCB Bank or have not applied for a home loan from this Bank?

Yes. You can use the calculator even before you apply for the home loan from DCB Bank to estimate if it is a suitable and affordable decision.

Q4. Do self-employed individuals also get a home loan from DCB Bank?

Yes, self-employed individuals who are eligible under the criteria set up by the DCB Bank can also get a home loan from the Bank easily.

 

Q5. How many times can I use the DCB Bank home loan calculator?

The DCB Bank home loan calculator can be used as many times as you want and repetitively. There are no particular restrictions on the number of times that this calculator can be used. You can also use the calculator to combine and compare various tenures and amounts.

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