PERSONAL BANKING SERVICES
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RESIDENT HOME LOANS & LOAN AGAINST PROPERTY
Key Highlights
Doha Bank offers mortgage loans that suits your need.
- Home Loan Purchase.
- Home Loan Resale.
- Top Up.
- Balance Transfer.
- Balance Transfer with Top Up.
- Construction Loan.
- Refinance loan.
- Loan against property.
* Loan shall be extended in cities where Doha Bank has an office in India
Overview
With Doha Bank Home Loans, turning your dream home in India into a reality is convenient and easy.
Benefits
- Attractive interest rates with link to RBI Repo Rate.
- Long Loan Tenure.
- Wide Loan Amount range.
- Choice from fixed and floating interest rates.
- Convenient loan disbursement process.
- Doorstep service in India till disbursement.
- Insurance option to cover your home loans at attractive premium.
Eligibility
Age
- You must be minimum 25 years old & maximum age limit is 60 years or retirement age (whichever is earlier) at the time of loan maturity.
Employment Type / Experience
- Salaried with minimum 1 year & above or total work experience of 3 years & above.
Tenure & Minimum Qualification
- For Salaried- Maximum loan tenure up to 25 years and minimum loan tenure is 1 year.
- Minimum qualification – Graduate or equivalent degree.
Loan Amount
Loan Amount |
Maximum Funding* |
|---|---|
| Amount 10 lacs up to Rs. 30 lacs | 70% of the agreement value |
| Above 30 lacs to Rs.75 lacs | 70% of the agreement value |
| Above Rs.75 lacs | 70% of the agreement value |
* Subject to Agreement value or Market value (whichever is less) of the property and repayment capacity of the customer, as assessed by Doha Bank.
This shall not include stamp duty, registration charges and any other documentation charges.
Income
- Minimum Salary: net salary of INR 40,000/- (per month).
- The Applicant’s / Co-applicant’s or both incomes will be considered for eligibility. However, the Co-applicant has to be applicant’s immediate family member- spouse, parent or child.
- Salary should be received on Monthly basis through direct bank credit.
Note:
Credit at the sole discretion of Doha Bank and subject to guidelines issued by RBI/QCB (Qatar Central Bank) from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.
Charges
Processing Fee: 0.25% of the loan amount subject to a minimum of Rs. 10,000/-. Taxes as applicable will be charged on the fees collected.
Documents
Personal details documents
- One passport size latest photograph of each applicant (applicant & co-applicant) / Guarantor with signature across.
- Copy of PAN Card of all applicants/guarantors/POA holder or Form 60.
- Any one of following Identity Proof.
- Driving License.
- Photo Credit Card.
- Photo Identity card issued by Govt. body.
- Letter from recognised public authority or public servant verifying the identity of the customer with photograph (not more than 30 days old).
- Valid Indian passport.
- Voter Card.
- Aadhaar Card.
- Any one of following Address Proof.
- Letter from a recognised public authority or public servant verifying the identity and residence of the customer.
- Utility bill which is not more than two months old of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill.
- Rent agreement on stamp Paper.
- Bank Statements reflecting address of borrowers of any commercial nationalised bank.
- Credit Card Statement not older than 2 months.
- Life Insurance Policy.
- Residence address Certificate / letter by employer on company letterhead.
- Copy of Sale Deed of the property (residence), if owned.
- Municipal or property tax receipt.
- Post office saving bank account statement.
- Pension or family pension payment orders (PPOs) issued to retired employees by Govt. departments or Public Sector Undertakings, if they contain the address.
- Letter of allotment of accommodation from employer issued by State or Central Govt. departments, statutory or regulatory bodies, and public sector undertakings, scheduled commercial banks, financial institutions, and listed companies. Similarly, leave and license agreements with such employers allotting official accommodation.
- Documents issued by Govt. departments of foreign jurisdiction and letter issued by Foreign Embassy or Mission in India.
- Work Experience Proof.
- Appointment Letter / Increment Letter / Contract Letter
- Copy of previous appointment letter / Relieving letter / Experience, in case the number of years in current employment is less than 1 year of establish his employment.
Financial details documents – Salaried individuals
- Original Salary Certificate and 3 months’ pay slips showing all deductions.
- Income Tax return copy for last 2 years.
- Original latest 6 months bank statement clearly mentioning salary credits in the account.
You can apply individually or jointly for Home Loans. All proposed owners of the property will have to be co-applicant. However, all co-applicants need not be co-owners, however Co-applicants should be immediate family members only.
Co-applicant’s income can be considered for enhancing your loan eligibility or increasing your loan amount. Please ensure that all financial documents of co-applicant(s) are attached with your India Home Loan Application.
In case there is no co-applicant, a Guarantor is required compulsorily along with his / her identity and address proof.
Repayment
The repayment of the loan shall be made through normal banking channel or by debit to the Doha Bank / Non Doha Bank Savings account of the borrower by way of equated monthly instalments (EMI).
Modes of Repayment
After availing full disbursement of loan
After you avail full disbursement, you have the convenience of setting up a standing instruction in your bank account with us, for monthly repayments of your home loan instalments. For this, you need to execute (Direct Debit) Mandate in favour of the Bank.
Prepayment
You can make part-prepayments during the tenure of the loan at no cost (floating rate option). We would reduce the outstanding balance of your loan to the extent of the prepayment made by you. The interest on your loan would therefore be calculated only on the balance loan outstanding. This would help you in either reducing the tenure of the loan or reducing the monthly instalment that you would be paying.
For Fixed Rate Home Loans: Pre-payment charges shall be levied @ 2% of the outstanding loan amount plus GST tax and other applicable charges if any.
Security
The loan should be fully secured by creating equitable mortgage of the property and if necessary, lien on borrower’s other assets in India.
Insurance
Property Insurance- insurance on the property against fire, riots and appropriate hazards, as required by Doha Bank, will have to be taken by the borrower. Such insurance policy shall be assigned / endorsed in favour of Bank.
The borrower may also be suggested to take a Life Insurance Policy which should cover death due to any reason (natural/accident). Such insurance policy shall be assigned / endorsed in favour of the Bank. The amount of each cover must not be less than the loan amount outstanding at any point of time.
The bank shall offer to make available insurance policy from the insurance company with which it has a tie-up. The borrower shall have the option of choosing any insurer of his choice.
Interest Rates
Floating Rate
Click here Floating Rates
REPO RATE LINKED LOANS
Salaried Borrower - Home Loan Rates (w.e.f 06th July 2023)
Slab |
Floating Interest Rates range
|
|---|---|
| Up to Rs. 30 lacs | RR + up to 2.75%* |
| Above Rs. 30 lacs to Rs. 75 lacs | RR + up to 2.85%* |
| Above Rs. 75 lacs | RR + up to 2.95%* |
Salaried Borrower - Loan against Property Rates (w.e.f 06th July 2023)
Slab |
Floating Interest Rates range
|
|---|---|
| Up to Rs. 50 lacs | RR + up to 3.90%* |
| Above Rs. 50 lacs to Rs. 1 Cr. | RR + up to 4.10%* |
| Above Rs. 1 Cr. | RR + up to 4.30%* |
- RR stands for Repo Rate.
- Floating Home Loan/LAP rates are linked to the External benchmark rate – RBI Repo Rate.
- The Bank charges an additional rate over the Benchmark Rate (Repo rate), called spread, which includes Business strategic premium & Credit Risk premium to arrive at the final offer rate.
- The spread will vary from case to case basis based on Bank’s internal assessment parameters.
- * Bank may charge additional spread upto 0.50 bps over the Final offer rate to the Loans with Interest Saver facility.
The mean interest rate for Home Loans for the quarter ended March 2023 is 9.05% p.a. and mean for last quarter (December 2022) was 8.56% p.a.
Annual Percentage Rate
The Annual Percentage Rate (APR) is a method to compute annualized credit, cost which includes interest rate and loan origination fee. Kindly click here to calculate the APR.
Details of Fees and Charges
Click here for schedule of fees and charges on home loans
Fees and Charges Schedule
| Particulars | Charges |
|---|---|
| Processing Fee | Charges 0.25% of the loan amount subject to a minimum of INR 10,000/- plus applicable tax and surcharge. Out of which Administration charges (non-refundable) of Rs. 2500/- to be collected at the time of log-in and the remaining amount plus applicable taxes to be collected before disbursement. Any exception to the above please refer to the Processing Fees Grid below. |
| Stamp duty and registration fee | Stamp Duty & Registration charges to be paid by the customer as per applicable law of respective state where the property is registered. |
| Equitable Mortgage Charges | Stamp Duty on equitable mortgage to be paid by the customer separately as per applicable law of respective state. |
| Memorandum of Deposit of Title Deed | To be borne by customer as actuals. |
| Legal & Technical Charges for Home Loan and LAP | Legal Charges – Actual cost incurred by Bank including applicable taxes.
Technical Charges – Actual cost incurred by Bank including applicable taxes. Such charges to be collected before issuance of sanction letter. |
| Default Interest Rate / Late Payment Fee | If any of the monthly instalment(s) under the loan is (are) not paid on the due date(s), additional interest @ 2% p.m. over the normal rate applied to loans, shall be charged on overdue amounts in default, from the due date(s) until the date(s) of payment (i.e. overdue period) plus any incidental charges at actual, if any.
However, for loan amount up to INR 25,000/- given to borrowers under priority sector (PSL), NO penal interest should be charged. |
| Part Payment terms & conditions |
|
| Pre-payment / Forclosure charges | No prepayment /foreclosure charges on floating rate Loan availed by individuals.
In part disbursement cases,
|
| PDC /ECS Bounce charges | Rs. 500/- per instance. |
| CERSAI Charges | Rs. 550/- |
| Cheque / Instrument swap charges | Rs. 500/- |
| Interest Rate Switching fees (fixed to floating or vice-versa) | 1.75% on principal outstanding. |
| Interest Rate Switching fees (Higher fixed rate to Lower fixed rate) | 0.5% on principal outstanding. |
| Document retrieval charges/Issuance charges for Photocopy of title documents | Rs. 500/- |
| Statement of account | Rs. 100/- |
| Duplicate NOC | Rs. 100/- |
| Duplicate statement issuance charges | Rs. 250/- per instance. |
| Duplicate amortization schedule issuance charges | Rs. 250/- per instance. |
| Duplicate interest certificate (provisional / actual)issuance charges | Rs. 250/- per instance. |
| Non collection of documents post closure of the Loan A/c beyond 30 days. | Rs. 500/- plus applicable taxes. |
| Other charges | As applicable and decided by the bank from time to time. |
Note:
- Applicable taxes will be levied extra over & above the charges mentioned in the schedule.
- Details of the latest applicable fees and charges as stipulated by Bank will be displayed on the website (www.dohabank.co.in) and / or at the branches and are subject to change from time to time at the sole discretion of Bank.
- For charges related to Savings account, kindly refer the SOC applicable for Normal savings account hosted on bank’s website.
Terms and Conditions
All the information contained herein above is for awareness and customer convenience and is intended to only act as an indicative guide about Doha Bank’s products and services. For detailed information about Doha Bank’s products and services kindly visit the nearest Doha Bank branch.
Click here for the Most Important Terms and Conditions pertaining to your loan.
Most Important Terms and Conditions
Product Offering
Doha Bank Q.P.S.C. offers Home Loan at floating rate of interest as well as fixed rate of interest details of which can be sought from your Relationship Manager or you can visit our nearest branch or visit our website www.dohabank.co.in.
Purpose
The loan shall be utilized strictly as detailed in the borrower’s application form and in the manner prescribed. The property shall be used for residential purpose only.
Financials
| Interest Rate | Floating rate loans are linked to External Benchmark rate (RBI Repo Rate) which is published on our website. Interest on your loan will accrue on a monthly basis and any change in interest rates would correspondingly impact your Equated Monthly Installment (EMI) and / or loan tenure. |
| Repayment | The loan is to be repaid on the due dates in Equated Monthly Installments (EMI) over the tenure of the loan. The repayment installment commences from a date specified in the sanction letter / loan agreement. The liability to the bank will be extinguished only when the outstanding in the loan account becomes Nil, on payment of residual amount, if any. |
| Default Interest | You need to pay your EMI on the due date. Non-payment of EMI would attract default interest over and above the interest rate applicable to the loan. It may also affect your credit rating and other loans availed from Doha Bank. In addition to the above, the Bank may initiate collections and legal action to recover the dues. The Bank can recall the loan and the property can be attached. |
| Processing Fee | A processing fee of 0.25% of the loan amount subject to a minimum of Rs. 10,000/- plus GST tax and other charges shall be payable by you. Processing fee paid is non-refundable. |
| Prepayment charges | NIL prepayment charges for floating rate loans.
For fixed rate: 2% of the outstanding loan amount plus GST tax and charges, if any. |
| Service Charges | Certain services are offered on the loan facility at respective fees or charges. You may refer to our website www.dohabank.co.in or the application form for the schedule of fees and charges. They are also available upon request at any of our branches in India. You are requested to note that the tariff structure is subject to change with prospective effect from time to time at our sole discretion. Revised tariff would be displayed at our branches and on our website www.dohabank.co.in. Refer to the Fees and Charges Schedule. |
| Switching Option | You may switch from floating interest rate to fixed interest rate on the loan and vice versa by paying applicable fees to the Bank. |
| Primary Security | The loan will be secured by equitable / registered mortgage on the property for which the loan is sanctioned. |
| Insurance | You shall ensure that the house / flat is insured comprehensively for the market value covering fire, flood, earthquake, etc. with the Bank as beneficiary / loss payee under the insurance policy at all times during pendency of the loan. |
| Indirect taxes | Please note that you will be liable to pay / bear applicable indirect taxes including GST Tax on all our fees and charges and any other amount liable to tax under prevailing Indirect Tax Laws. |
Key terms
| Document required | KYC documents such as proof of identity, proof of address, etc. as per prevailing policy. Financial documents as per prevailing policy. |
| Security Documents | The security documents need to be stamped / franked and registered as per the applicable laws at your expense. |
| Loan Documents | You would be required to sign a Sanction Letter / Loan Agreement and other standard documents. Sanction Letter/Loan Agreement carries the key terms of your loan such as loan amount, loan tenure, interest rate, etc. of your loan. |
| Prepayment and Foreclosure | You can prepay / foreclose the loan by giving a notice in writing and pay in accordance with our rules of prepayment / foreclose, along with charges if any. |
| Tax | Please seek independent professional tax advice for any tax related issues in relation to the loan. |
| Disclosures | You acknowledge our right to provide details of your account to third party agencies for the purpose of availing support services of any nature by us, without any specific consent or authorization from you or any joint applicants. |
| Default | In the event of default i.e. if the amount due is not paid by due date, the customer will be sent reminders from time to time for payment of any outstanding on his / her loan account, by post, fax, telephone, email, SMS messaging and / or through third parties. |
Terms and conditions:
Approval
Your loan approval expires after 90 days post which a fresh approval will have to be sought. The approval may be kept open at the Bank’s sole discretion. We may at our sole discretion recall the loan offer / approval at any point of time.
Disbursement
We may disburse the loan in lump sum or in instalments, at our discretion. We may disburse the loan amount directly to the builder / seller / society, as the case may be, as per your request. We may not make any further disbursements on happening of any events as stipulated in the loan agreement as ‘Events of default’ or for any other reason as deemed fit by the Bank.
Disbursements under the loan shall be made subject to the following conditions:
(a) fulfilment and compliance with the terms and conditions of the loan agreement and furnishing of all other standard documents as specified by the Bank;
(b) no event of default has occurred or is subsisting;
(c) you furnishing an evidence that the disbursement is required for the purpose for which the loan was initially approved; and
(d) no circumstances shall have occurred, which in our opinion, may make it impossible for you to fulfill the obligations under the loan agreement or other documents executed by you for availing of the loan.
The disbursement shall be deemed to have been made to the borrower on the date of actual disbursement of the loan in our bank’s system or the date of the cheque or the payment advice, whichever is earlier, and the interest on the loan shall accrue accordingly. The EMIs on the loan will commence based on the date of disbursement of the loan.
Repayment
You need to repay the loan in equated monthly instalments on the due date as mentioned in the Sanction Letter. The instalment amount would comprise of principal and interest. You are required to repay the loan EMI through Standing Instruction from your Doha bank NRI account / letter of authority to debit your Doha bank NRI account or such other mode as approved by the Bank. You need to ensure that the repayment instrument / instruction is honoured. Accordingly, you must ensure that:
(a) sufficient funds are available in the designated account to be debited;(b) you do not cancel / put stop payment on the cheques / instruments given towards loan repayment; (c) you do not cancel or vary payment arrangement / Standing Instructions (unless required by us) given towards the loan repayment; and (d) you do not close or change the account on which repayment instrument is drawn (unless you make an alternate arrangement for the repayment as agreeable to us).
If you do not pay the instalment on or before the relevant due date, the outstanding loan amount and all accrued interest would become immediately due and payable. You would also be liable to pay the fee as set out in the Fees and Charges Schedule.
Default
In the event of default (i.e. if the amount due is not paid by the due date or breach of any clause of the loan agreement), you will be sent reminders from time to time for payment of any outstanding on your loan account, by post, fax, telephone, e-mail, SMS messaging and / or through third parties appointed for collection purposes to remind, follow-up and collect dues. Any third party so appointed, shall adhere to the Indian Banks Association’s (IBA) code of conduct on debt collection. For recovery of dues, we may send you reminders via notices or by making personal visits and/or repossession of security.
As per Reserve Bank of India guidelines, we provide credit information relating to any customer who has availed of a credit facility, to the Credit Information Bureau (India) Limited (CIBIL) or any other bureau on a monthly basis. The information provided includes information regarding whether the loan account is regular or delinquent. In the event a loan account is delinquent as of the date of such reporting and the account is subsequently regularized, the status of the account will only be updated prospectively, at the time of the next monthly reporting. To avoid any adverse credit history with such bureaus, you should ensure timely payment of the amount due on the loan.
Prepayment and foreclosure
You can prepay or foreclose the loan by giving a notice in writing and pay in accordance with our rules of prepayment / foreclosure, along with charges, if any. Please refer to the Fees and Charges Schedule for more details. If you make a prepayment / pay towards foreclosure by cheque, the payment will take effect only when the cheque is cleared. Your original documents submitted to us, would be returned within 30 days of satisfactory loan closure, as per the conditions of the loan agreement signed by you.
Statement of account
We will send half-yearly statement of the loan account at your communication address registered with us. If you need a copy of the statement of account, you may visit our branch and request for a copy subject to the applicable fee.
Know Your Customer / Due diligence requirement
You need to submit the Know Your Customer (KYC) documents at the time of opening a new account or as and when requested by the Bank. The Bank reserves a right to allow / restrict operations in a bank account maintained with the Bank, if the customer is not able to satisfy the due diligence requirements in line with the Bank’s policy.
Joint and several liability
Where the Loan is provided to more than one Borrower, then the liability of the Borrower to repay the Loan together with interest and all other amounts and to observe the terms and conditions of the loan agreement / and any other agreement(s), document(s) made between the Borrower and the Bank in respect of the loan is joint and several.
Sanctions
The Bank and other members of the Doha Bank Group are required to and may take any action to meet obligations relating to or in connection with the detection, investigation and prevention of financial crime and act in accordance with the laws, regulations and requests of regulatory authorities operating in various jurisdictions. The Bank may take such action as it may deem appropriate in this regard.
Disclosures
You acknowledge our right to provide details of your account to third party agencies for the purpose of availing support services of any nature by us, without any specific consent or authorisation from you or any joint applicants.
Cross default
Your default in respect of any other credit facility agreement or arrangement with the Bank or its Group Companies shall be deemed to be a default across all credit facilities availed by you with any of our entities. We shall, in the event of such default be entitled to exercise any or all our rights under the facility / security documents executed by you with any of our Group entities.
Tax
You are responsible for fulfilling any obligation that you may have with respect to the filing of returns or other required documentation in respect of and the payment of all relevant taxes, including, without limitation, all income, capital gains, wealth and estate duties, stamp duties, GST tax, value added tax and any other applicable taxes. The Bank does not provide any legal or tax advice. You should seek independent legal and/or tax advice.
Change of address
You need to notify the Bank regarding change of residential address due to relocation or any other reason and you need to intimate the new address to the Bank within two weeks of such a change.
Information on usage of loan amount
Loan disbursed to you should not be utilized for business of chit fund or nidhi company or agricultural or plantation activities or in real estate business, or construction of farm houses or trading in Transferable Development Rights (TDRs), or investment in capital markets including margin trading and derivatives. You are required to ensure that the loan amount disbursed to you is not remitted outside India.
Customer Service
In case of any questions or further information, please contact your Relationship Manager who will be happy to help. You can also: E-mail – indiahelpdesk@dohabank.co.in or Call our Phone Banking service or Visit us at any of our branches.
All grievance / escalations should be marked to:
The Manager,
Customer Care Centre,
Doha Bank Q.P.S.C., Sakhar Bhawan,
Ground Floor, Plot No. 230,
Block No. III, Backbay Reclamation,
Nariman Point, Mumbai-400021,
Maharashtra, India.
You may contact the Nodal Officer Team on 022 – 6286 1182 (Between 10 a.m. and 6 p.m.; from Monday to Saturday, except bank holidays).