Who We Are Contact Us Cookie Policy  Search
X

We’ve received your interest and have securely shared your details with our partner RupeeBoss Financial Services Private Limited, who will contact you within one business day. They’re happy to help you throughout the entire process, right from completing your application, to sanctions and disbursement.

Sponsored Special Deals

Provider
Loan Type
Interest Rate
Your EMI
(Monthly Payment)
Processing
Fees
Processing
Fees(%)
Details
Indiabulls
0 reviews
Floating
8.50%
Rs 49,236.98
Rs 0
0.00%
Tenure of NRI Home loans:
- Upto 20 years
- No minimum tenure

Maximum loan eligibility:
- Upto 80% of the agreement value or total cost (including stamp duty & registration charges) of the flat/house or plot

NRI Home Loan Interest rates on residential property:
- Upto Rs. 75 lakhs - 8.50% to 9.85%
- Rs 75 lakhs to Rs. 300 lakhs - 8.75% to 10.60%
- Over Rs 300 lakhs - 8.85% to 10.75%
sponsored

Indiabulls

Loan Type
Floating
Interest Rate
8.50%
Your EMI (Monthly Payment)
Rs 49,236.98
Processing Fees
Rs 0
Processing Fees(%)
0.00%
Details
Tenure of NRI Home loans:
- Upto 20 years
- No minimum tenure

Maximum loan eligibility:
- Upto 80% of the agreement value or total cost (including stamp duty & registration charges) of the flat/house or plot

NRI Home Loan Interest rates on residential property:
- Upto Rs. 75 lakhs - 8.50% to 9.85%
- Rs 75 lakhs to Rs. 300 lakhs - 8.75% to 10.60%
- Over Rs 300 lakhs - 8.85% to 10.75%

Search & Compare NRI Home Loans


The providers and quotes are displayed in partnership with RupeeBoss Financial Services Pvt. Ltd. and are for informational purposes only. Nothing on this site should be construed as advice.

NRI Home Loans FAQs

For what types of property can an NRI take a home loan?

An NRI can take a home loan at the following circumstances:

  • - For purchasing a house or apartment, constructed or to-be-built in India
  • - For self-constructing a home on a plot in India
  • - For renovating or improving an existing property in India
  • - For financing for the purchase of a plot in India

When will an NRI become eligible for taking a home loan in India?

Note that, the home loan eligibility of an NRI will be calculated in the same way as it’s done for the resident Indians. However, more emphasis will be put on the following factors:
- Qualification: Most frequently, you will be expected to be a graduate
- Current job profile
- Past working experience
- The possibility of continuing working abroad
- The possibility of servicing the home loan, in case you are returning back to India

Are there any tax benefits to NRI home loans?

No, there will be no tax benefits to NRIs on NRI home loans unless he/she file tax returns in India on income generated in India and thus, become eligible to enjoy tax benefits as mentioned by your bank.

What are the documents needed for getting an NRI home loan?

Normally, an NRI will have to submit additional documents when compared to the resident Indians when applying for home loans. The documents will include:
- Identity proof (PAN Card along with Passport and Visa / Work Permit)
- Residence proof (Utility bills like telephone, electricity or water bill / Registered Rent Agreement)
- Salary slips (last 3 months) with 6 months’ salary bank statements
- Tax returns and latest Employment Contract
Consumer Credit Check report
- POA, usually drawn in favour of parents, wife, or children of the NRI

What is Power of Attorney (POA) in NRI home loans and when to use it?

Power of Attorney (POA) is something which will allow you to grant another person the power to make decisions pertaining to your property. There are two types in this:
- General POA: This is a situation in which you can confer general rights of your property to someone else. By using this, the POA holder could sell, lease, and/or sub-lease your property.
- Special POA: This is a situation where the chosen person will be given only a specific right by you.

 

NRIs could make use of POA facility to get their properties registered by a trusted person during their stay abroad.

How can an NRI repay his/her home loan in India?

Repayment of NRI home loans will be carried out as “Equated Monthly Installments (EMIs)”, which will include principal and interest computed on monthly rests. NRIs can pay their monthly instalments by issuing cheques from their NRE or NRO accounts or giving a Direct Debit Mandate in favour of your NRI home loan lender and also give them four post-dated cheques from the account.

 

In case you are making a part-disbursement of your loan, then the monthly interests will be computed only on the disbursed amount. This payment would have to be made every month-end and the payment would have to be made by you by post-dated cheques.

Can an NRI pre-close a home loan in India?

Yes, an NRI can pre-close a home loan by making a lump sum payment towards part/full payment. However, some pre-closure charges will be applied to it.

Never miss good Indian Rupees exchange rates or promotions

Daily Indian Rupee exchange rate e-mail alerts

Select country :

Desired Indian Rupee exchange rate e-mail alerts