NRI Home Loan is a credit facility offered by various banks and NBFCs. Most of the Indian residents living outside of the country have a question can NRI apply for Home Loan in India? Yes, it’s possible; NRI can apply for a home loan in India and invest in properties. In terms of finance, it makes sense to purchase a property through a home loan rather than through personal financing.
NRI home loan comes at attractive interest rates starting @ just 6.80% onwards. You can avail an NRI housing loan for a wide range of housing needs which include the purchase of a flat/house/plot/construction and towards costs of renovating/repair of an existing home.
Key Features:
Low Interest Rates
Low Processing Fee
No Hidden Charges
No Pre Payment-Penalty
Interest charges on Daily Reducing Balance
Repayment up to 30 years
Home Loan Available as Overdraft
Interest Concession for Women Borrowers
Eligibility Criteria for NRI Home Loan
Resident Type: Non-Resident Indians (NRIs) or Persons of Indian Origin (PIOs)
Minimum Age: 18 years
Maximum Age: 60 years
Loan Tenure: up to 30 years
Maximum loan amounts up to 5 Cr
Typically, a home loan eligibility depends on various factors such as your monthly income, current age, credit history, fixed financial obligations and much more.
An NRI home loan eligibility calculator helps you figure out how much loan you can get from a lender based on the mentioned parameters. This auto-calculator tool is a user-friendly tool.
All you need to do is enter the details as required. With just one click you will get to know how much loan you are eligible for.