However, home buying is a tedious process, especially if you’re living oceans away from the property. And getting a home loan for an NRI is different from Indian residents. That’s why it’s essential to have a good grasp of the online home loan process for NRIs. This will help you simplify the entire application process from start to end.

NRI or the Non-resident Indians are the people who have Indian passport and are staying in foreign countries for the employment purpose or conducting a business there. Their duration of the stay in abroad is not certain. NRIs are allowed to take home loans in order to purchase a house or land in the country. You must be thinking, is there any difference in NRI’s taking loan or a normal citizen taking a home loan? The answer is yes. The difference lies in the interest rates and the time period that is sanctioned for a loan. If you are keen to know what the features of the loan for NRIs and what all NRIs need to submit at the time of filing a home loan application, then our write will prove to be very informative.

Some of the points to be noted:

  • NRIs are given home loans for short span of time
  • The loan amount provided to NRIs is 85% of the total cost of the home
  • Their loan size depends upon the repayment capacity
  • There is a set maximum limit for the amount of home loan 36 times the monthly income of the borrower can be issued as the loan amount.
  • As the NRIs are living in far off places so the banks are extra careful regarding the documents in order to assure the eligibility of the applicant

List of Documents Required for an NRI Home Loan:

  • Proof of Identity like Passport, Green Card, PAN Card, Aadhar Card or Driving License.
  • Address proof such as Aadhar Card, Driving License, Voter ID, Govt. of India issued ID Card, Electricity/ Gas/ Landline Bill, Property Tax Receipt
  • Date Of Birth documents like Passport, PAN Card or Aadhar Card
  • Signature Proofs include Passport, PAN Card or Banker’s verification
  • Completely filled and duly signed application form for home loan along with all the applicants’ latest passport size photos
  • Processing Fee and relevant cheques.
  • Self-attestation of borrowers on all original and/or photocopied documents submitted.    




Global Realtors:
Mr.Siddhu Adhav.Property Consultant Since 2010


Leave a Reply

Your email address will not be published. Required fields are marked *