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Home Loan for NRIs

We facilitate Home Loans / LAP  for Non Resident Indians (NRI) and Person of Indian Origin (PIO).This may be extended to Salaried as well as Business person also.This loan can be availed for a wide range of housing needs which includes purchase of built up or underconstruction flat/house/plot, for construction and for renovating/repair of an existing house. The interest rates start from 7.15% p.a.

The key features of this facility are:- 
1.Low Interest Rates
2.Low Processing Fee
3.No Hidden Charges
4.No Prepayment Penalty
5.Interest charges on Daily Reducing Balance
6.Repayment up to 30 years
7.Home Loan Available as Overdraft
8.Interest Concession for Women Borrowers

General Criteria
1.Resident Type: Non Resident Indians (NRIs) or Persons of Indian Origin (PIOs)
2.Minimum Age: 18 years
3.Maximum Age: 60 years
4.Loan Tenure: up to 30 years.
5.Loan Amount-up to 50 crores
List of papers/ documents applicable to all applicants:

Employer Identity Card
Attested copy of valid Passport and visa.
Address proof mentioning the current overseas address
Copy of Continuous Discharge Certificate (CDC)-for applicants employed in the merchant navy.
PIO Card issued by Government of India. (in case of PIOs)
The attestation of documents may be done by FOs/Rep. Offices or Indian Embassy/Consulate or Overseas Notary Public or officials of Branch/Sourcing outfits based in India.
Loan Application: Completed loan application form duly filled with 3 Passport size photographs
Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card

Required Property Papers:

Permission for construction (where applicable)
Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
Occupancy Certificate (in case of ready to move property)
Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, property tax receipt
Approved Plan copy (Xerox Blueprint) & Registered Development agreement of the builder, Conveyance Deed (For New Property)
Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller
Account Statement:
Other Documents
Bank account details for the previous 6 months overseas account showing salary and savings and Indian account if any.
If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year
Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:
Valid work permit
Employment contract - an English translation duly attested by employer/ consulate / our foreign office / Embassy in case it is in any other language
Last three months’ salary certificate/slip
Last six months’ Bank Statement showing salary credit
Latest salary certificate /slip in original and copy of identity card issued by the current employer
Duly acknowledged copy of last year Individual Tax Return except for NRIs/PIOs located in Middle East countries and employees in the Merchant Navy.
Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:

Business address proof
Proof of income in case of self-employed professionals/businessmen.
Last 2 years Audited/C.A. certified Balance Sheet and P&L accounts,
Last 2 years Individual Tax Return except for NRI/PIO located in Middle east countries
Last six months’ Bank Statement of overseas account in the name of individual as well as company/unit.

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