Loans for NRIs

NRI – Non-Resident Indian is a Citizen of India resident outside India. RBI defines NRI as “An Indian citizen who holds a valid Indian passport and who stays abroad for employment or for carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a NRI.”

PIO / OCI – Person of Indian origin / Overseas Citizen of India is an individual (not being a citizen of Pakistan or Bangladesh or Sir Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who

  1. at any time, held an Indian Passport or
  2. who or either of whose father or mother or whose grandfather or grandmother was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955


Feature of Home Loan are :-
Tenure for repayment is up to 15 years
Loan amount range is 10 lakh to 100 crore
Loan up to 75% or even more of property value
Loan sanctioned within 6 days of submission of required documents.
Repayment permitted upto 65 years of age
Fix and floating rate option
No pre payment charges

Purpose :-
Purchase of house / flat
Purchase of a plot and construct as per requirement
Extension/ repair/ renovation of your own existing House/ Flat
Purchase of Furnishings as a part of the project cost
Takeover of current home loan from other Banks/ Finance Companies.


Specialty :-
Minimum processing fee
Free personal accident insurance
Bad credit history cases can be considered

Loan Eligibility norms:

-  Salaried Individuals: Any individual who is in job can be financed. Minimum work experience of 6 months, overseas is  required

-  Self Employed Professionals (SEP): Doctors, Engineers, Scientists & Chartered Accountants are classified as Professionals only. Minimum professional work experience of 2 years, overseas is required.

-  Self-employed Non-professionals (Businessman): Only NRI Businessmen based in UAE, USA or UK are covered  under this scheme. Minimum business continuity of 3 years, overseas is required.

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