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Q: How can NRIs do the sale/transfer of shares held by them with repatriation benefits?

A: In the case of shares /debentures /bonds acquired by NRIs through stock exchanges under the Portfolio Investment Scheme, general exemption has been granted for transfer through stock exchanges...

Q: Are NRIs permitted to transfer/sell their shares held on non-repatriation basis to resident freely?

A: Yes. General exemption has been granted by Reserve Bank for transfer/sale of shares/debentures/bonds by NRIs/OCBs through stock exchanges if such transfers are made in favor of an Indian citizen or...

Q: Are NRIs allowed to obtain loans abroad against the collateral of shares/debentures of Indian companies?

A: Yes. An authorized dealer has been permitted to grant loans/overdrafts abroad to NRIs through their overseas branches and correspondents against the collateral of the shares/debentures of Indian...

Q: Can loans raised against NRE fixed deposits be repaid out of funds in NRO accounts?

A: The loans raised against NRE deposits can be repaid out of NRO funds but in such cases, the interest would be charged at the commercial rate as in force from time to time.

Q: What kinds of property can an NRI avail home loan 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 - For...

Q: What is the eligibility criteria for obtaining NRI home loans?

A: The eligibility is calculated in the same way as it is done for resident Indians with special emphasis on: Qualifications - Graduate (minimum) Current job profile and work experience Chances of...

Q: What is the repayment period for the home loan for NRIs?

A: Home loan 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: What 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: What are the documents required for obtaining NRI home loans?

A: Apart from the documents mentioned under the home loan section for Indian citizens, NRIs are required to submit a few additional documents as well. These include: A copy of the passport A copy of...

Q: Can NRIs and OCI holders get bank loans in India?

A: Yes! NRIs, OCI holders can get loans from Indian banks as long as they qualify for the loan. Generally, home loans for properties located in India are what OCI holders usually apply for. As long as...