Home Loan for NRIs scheme
Loans to fulfill your dream.
. to own a home. sweet home . !
Plan building a home / buying a flat.
Leave the financing to us.
We have the right housing finance scheme for you..
- Purchase of a ready built house / flat.
- Construction of house / flat.
- Purchase of site and construction of house thereon. However, loan for purchase of only site shall not be considered under Housing Loans. In case of composite Housing loans, utilisation of loan amount for purchase of plot is restricted to 60% of elaigible / sanctioned loan amount.
- For undertaking repairs, renovation, expansion, upgradation and creation of additional amenities with a monetary ceiling of Rs. 15.00 Lacs in case of repairs renovations only.
- For acquiring second house/flat where the borrower is already having a House/flat with or without loan.
- For taking over of the HL liability from :
. All Public Sector Banks/Private Sector Banks
. NBFCs/HFCs ( rated externally as A above ) only in the case of Salaried class of borrowers with proper due diligence and after ensuring that the assessment by the NBFCs is acceptable and conforms to Bank’s policy guidelines.
- All Non resident Indians having valid Indian passport and persons of Indian origin (PIO) having foreign passport.
- Minimum age 21 years and maximum age 60 years.
- Spouses and close relatives of NRIs who are residents can join NRI as Joint applicants.
- Steady income source and minimum employment abroad of 2 years with valid job contract/work permit.
- Applicant should have NRI status of 3 years
HOW MUCH YOU ARE ENTITLED TO
We Finance upto
- Maximum loan amount shall be 4 times of annual Salary/income with NTH of 40% after proposed EMI.
- Selectively higher quantum of loan upto 5 years of gross annual salary/ income is also permitted.
- Rs.15.00 lacs for repairs / renovations.