NRI Home
Loans
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We endeavour to serve customers with speed and technology to deliver an engaging customer experience.

NRI home loans allow Non-Resident Indians to own a residence in India.

Our knowledge of across-the-globe credit practices and understanding of employment terms gives us an edge in meeting your home buying requirements. We endeavour to serve customers with speed and technology to deliver an engaging customer experience.

We assist you at every stage of your decision-making process to buy a home in our own country. Attractive interest rates, minimized paperwork, technology-enabled swift approvals, and step-by-step assistance make owning a home in India easier than ever. Our customized NRI home loan is the perfect solution for the globetrotting Indian looking to buy a property in India with peace of mind.

  • Purpose
  • Who can apply
  • Benefits
  • Documents required
  • Maximum loan
  • Interest rates

NRI home loans enable Non-Resident Indians to own a property or plot in India, subject to government regulations and jurisdictions.

  • NRIs - Salaried
  • Expert guidance at your doorstep
  • Simple, quick and hassle-free process
  • Attractive interest rates
  • Easy documentation
  • Tax benefits
    Section 24

    As per the Section 24 of the Income Tax Act, interest paid on the capital borrowed for the acquisition, construction, repair, renewal or reconstruction of property is entitled to a deduction of a maximum amount of INR 2,00,000. The property should be self-occupied. For rented out property there is no limit to the amount of deduction.

    Section 80C

    As per the Section 80C of the Income Tax Act, you can get a maximum deduction of INR 1,50,000 from the income, on repayment of principal during a financial year.

Salaried employees
  • Duly filled application form with photograph
  • Age proof (PAN card or passport or any other certificate from statutory authority)
  • Residence proof (Passport or driving license or telephone bill or ration card or election card)
  • Education qualifications – certificate
  • Last 3 months salary statements
  • Form 16 for last 2 years
  • Last 6 months bank statements (salary account)
  • Credit Report

Up to 90% of the cost of the property (including land value).

Fixed Rate of Interest Floating Rate of Interest
Minimum Maximum Minimum Maximum
11.00 % p.a. 16.00 % p.a. 9.00 % p.a. 16.00 % p.a.
*Above rates are currently applicable and are subject to changes from time to time.
FAQs - NRI Home Loans

As per India's Foreign Exchange Management Act (FEMA) 1999, a Non-Resident Indian (NRI) is a citizen of India or a Person of Indian origin (PIO) living outside India for employment, business or any other vocation, which would indicate his intention to stay outside India for an indefinite period of time. An Indian would also be termed as an NRI if his stay in India is less than 182 days.

A home loan needs to be paid 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 permitted by the Reserve Bank of India (RBI). Generally, payments are done through NRO, NRE, NRNR and FCNR accounts. These accounts may change based on RBI regulations.

Under the existing general permissions available, an NRI/PIO may purchase a residential or commercial property in India out of the funds remitted to India through normal banking channels or through funds held in his/her NRE/FCNR (B)/NRO account. No consideration would be paid outside of India.

No. NRIs do not require any consent from the RBI to buy immovable property in India, provided the property is residential or commercial in nature.

The eligibility is calculated in the same way as is done for resident Indians with a special emphasis on:

* Individual(s) over 24 years of age with a steady source of income in the form of salary only, who
• Are Non Resident Indians (NRIs) holding a valid Indian passportor
• Are persons of Indian Origin (PIO) holding a foreign passport.

Registered Office

2nd floor, DLF Centre, Sansad Marg
New Delhi - 110001.
Tel: +91-11-49546000
CIN: U65990DL2017PLC322041

Corporate Office

713 & 714, 'A' Wing, Kanakia Wall Street,
Andheri Kurla Road, Chakala, Andheri (East),
Mumbai - 400093
Tel: +91-22-4938 5000

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