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Q: What kind of properties can NRI avail home loans for?

A: To purchase a house which is either ready to move in, under construction or bought from another owner, an NRI is eligible to apply for home loans. Additionally, NRIs can apply for home loans *...

Q: What is the repayment period for the home loans for NRI?

A: Home loans offered to NRIs do not exceed 5 years in major cases. However, some financial institutions offer loans for a term of 7 years as well. The repayment for the loan is done through monthly...

Q: How is the mode of payment for NRI home loans?

A: The housing loan needs to be paid upfront for the entire tenure of the loan by way of direct remittances from abroad through normal banking channels or from other financial accounts as may be...

Q: Can NRI obtain loans for acquisition of a house/ flat for residential purpose from financial institutions providing housing finance?

A: The Reserve Bank has granted general permission to certain financial institutions and authorized dealers for providing housing finance to NRIs/PIOs for the acquisition of a house/flat subject to...

Q: Can Indian company take a loan from a foreign bank?

A: Yes, an Indian company can borrow loans in foreign currency from a foreign bank. These are known as foreign currency term loans or external commercial borrowings.

Q: What are the documents required for a home loan for NRI?

A: The following are the documents required to get home loans for an NRI: * Employer Identity Card * Attested copy of passport and visa * Address proof mentioning the current overseas address *...

Q: Can NRI take a loan against property?

A: Yes an NRI can take a loan to buy residential/commercial property in India. Many prominent lending institutions in the country offer the facility of loan against the property to NRI's at attractive...

Q: Can NRI get a loan in India?

A: Yes an NRI can get a personal loan in India. Personal loan for NRIs is a good option to receive quick financing for different requirements.

Q: Can NRIs obtain loans for acquisition of a house/flat for residential purpose from financial institutions providing housing finance?

A: Reserve Bank has granted permission to certain financial institutions providing housing finance e.g. HDFC,LIC Housing Finance Ltd, etc to grant housing loans to non-resident Indian nationals for...

Q: Can authorize dealer grant loans to NRIs for the acquisition of a flat/house for residential purpose?

A: Authorized dealers have been granted permission to grant loans up to non-resident Indian nationals for acquisition of house/flat for self-occupation on their return to India subject to certain...