NRI Loan
NRI LOAN
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Name of Institute: State Bank of Indore | |||
Eligibility:
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Name of Institute: Axis Bank | |||
Name of Scheme: Home Loan Features:
Purpose:
Eligibility: Limit: Margin: 15% Repayment: Repayment period for home loans 20 years, pre-allotment bookings of housing loans 1½ year, improvement or renovation or extension of existing property 10 years Security: Equitable mortgage of the property to be financed by way of deposit of title deeds Processing Charges or Admission Fee: Documents Required:
For others:
Bank statement or Pass Book where salary or income credited: Last 6 months |
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Institute’s Name: State Bank of India | |||
Scheme: Home Loan for NRI SBI Maxgain Home Loans: which enable the borrower to avail the Loan as an Overdraft. The borrower can park his surplus funds in the loan account, significantly reducing his interest burden/optimize yield on his funds. Borrower is eligible for International ATM-Debit Card, Internet Banking Facility and cheque book to operate the loan account SBI-Flexi Home Loans: facility to avail Home Loan with a customized combination of fixed and floating interest rates, to effectively hedge the risks arising due to interest rate volatility SBI-Realty Home Loans: Exclusive scheme to suit the requirements of borrowers who intend to avail loan for purchase of plot of land for construction of house SBI-Freedom Home Loans: Tailor made product for NRIs, enabling the borrowers to avail loan by pledging other securities like Banks deposits/National Savings Certificates/ Life policies etc. standing in the name of the applicant/ third party- complete freedom from the hassles of mortgage formalities
Eligibility:
Limit: Processing Fee: 0.50% of the loan amount (incl. service Tax) Interest:
Repayment Period:
Security:
Documents Required:
Other documents as required by the Bank |
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Name of Institute: ICICI Bank | |||
Name of Scheme: Home Loan for NRI Purpose: Residential Property: Plot of Land: Limit: The maximum limit: 1 crore Minimum limit: 5 lakh |
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Name of Institute: IDBI Bank | |||
Name of Scheme: NRI loans Purpose: Eligibility: NRIs who are: Limit: Home Loan: Minimum Rs.1 lakh and maximum upto Rs.100 lakh
Home Improvement Loan: Minimum – Rs.1 lakh and maximum upto Rs.20 lakh
Land/Plot finance: Minimum – Rs.0.50 lakh and Maximum Rs.25 lakh Note:
Repayment Period: Documents Required: Photocopies of:
Security: The primary security for the plot loan is first mortgage of the property being marketable and free from encumbrances |
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Institute’s Name: HDFC | |||
Scheme: Housing Loan for NRIs Features:
3. Applicant ad Co-applicant to the loan: Loan can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be co- owners
Purpose:
Redemption Charges: Fixed Rate Home Loan [FRHL]: No Charges for:
Multiple Repayment Option:
Helps young executives take a much bigger loan today based on an increase in their future income, this helps executives buy a bigger home today!
Often customers, parents and their children, wish to purchase properties together. The parent is nearing retirement and their children have just started working. This option helps such customers combine the incomes and take a long term home loan where in the installment reduces upon retirement of the earning parent
Customers purchasing an under construction property need to pay interest (on the loan amount drawn based on level of construction) till the property is ready . To help customer save this interest, we have introduced a special facility of Tranche Based EMI. Customers can fix the installments they wish to pay till the time the property is ready for possession. The minimum amount payable is the interest on the loan amount drawn. Anything over and above the interest paid by the customer goes towards Principal repayment. The customer benefits by starting EMI and hence repays the loan faster
Accelerated Repayment Scheme offers you a great oppourtunity to repay the loan faster by increasing the EMI. Whenever you get an increment, increase in your disposable income or have lumpsum funds for loan prepayment, you can benefit by: Procedure to apply: Dubai and Gulf Customers: United Kingdom Customers: NRI customers in other locations:
Documents Required alongwith Application Form:
Security for the loan: Security for the loan is a first mortgage of the property to be financed, normally by way of deposit of title deeds and/or such other collateral security as may be necessary. Interim security may be required, if the property is under construction |
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Institute’s Name: Citybank | |||
Scheme: Home loan for NRI Eligibility:
Borrower must also have a close blood relative residing in India, who will be a co-applicant to your loan. Documents Required:
Personal Identification Documents (For all applicants on the loan):
Secondary Identification Documents: Driving license/PAN Card Property Documents:
Any other documents as might be required depending on the nature of the property (Note: This product is available for NRIs in Singapore and Indonesia only)
Any other documents as might be required depending on nature of the property (Note: This product is available for NRIs in U K & U.S.A Only) Advantages of a Citibank Home loan for NRIs
Any other documents as might be required depending on the nature of the property. |
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Institute’s Name: Bank of Baroda | |||
Scheme: Home Loan for NRIs Eligibility:
(c)The person is a spouse of an Indian citizen or a person
Age: Minimum age must be 21 years. Age of the borrower plus repayment period should not be beyond retirement age or 65 years whichever is earlier Margin:
Security:
Repayment Period:
Part Prepayment / Premature Closure Charges: Rate of Interest: The option of flexi rate available to hedge the interest rate risk Baroda Advance against Property to NRI
Eligibility:
Limit: Minimum – Rs. 1 Lac, Maximum – Rs. 100 Lacs Others: 3 times of average (last two years) annual income |
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