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Q: Can an OCI be given Power Of Attorney?

Q: If the rupee loan was taken by the NRI from an authorized dealer for the purchase of a residential property can an NRI repatriate the sale proceeds of such property?

A: Yes, Authorised Dealers have been authorised to allow repatriation of sale proceeds of residential accommodation purchased by NRIs/ PIOs out of funds raised by them by way of loans from the...

Q: How long will it take to process an application?

A: can you please mention the application name which you want to process.

Q: Are NRIs eligible for housing loans to buy property from any bank in India?

A: An authorized dealer or a housing finance institution in India approved by the national housing bank may provide housing loan to an NRI or a PIO, for the acquisition of residential accommodation...

Q: What are the eligibility requirements for an NRI seeking a home loan?

A: * An Indian Citizen holding Valid Indian Passport is eligible for an NRI Home Loan. * The passport of the home loan applicant shouldn't have NO ENTRY stamp, prohibiting NRI applicant from entering...

Q: What securities needed to be provided to get an NRI home loan?

A: Security of the home loan would generally be a mortgage of the property that is financed by us and / or any other collateral / interim security as may be required by us. It is extremely important...

Q: What is the process of disbursement in case of a home loan for purchase of an under-construction property?

A: When you take a home loan to buy real estate in an under-construction property, we will disburse payments towards its purchase in installments, based on our assessment of the progress of...

Q: Can NRI get tax benefits on home loans?

A: Yes, NRIs are eligible for tax benefits on the principal and interest component of home loans under the income tax act 1961, And the benefits can vary each year so, it's better to check with the...

Q: Is it mandatory to have a co-applicant to get NRI home loans?

A: It is not mandatory to have a co-applicant but having a co-applicant will increase your eligibility and your chances of getting the home loan sanctioned. If you are an individual, your parents,...

Q: Can an NRI get tax benefits on loans?

A: Yes, under various sections of the income tax department, NRIs are eligible for tax benefits.