Thing You Should Know Before Taking Home Loan for NRIs

At some point, every Indian wants to come back home in India whether they are in a nearby country or miles far away from the country. The home will help to fulfill the aspiration of NRIs living abroad.

Here are the major points that you have to take care of the home loan for NRIs.

• Home loan for NRI

Home loan for NRIs is a type of loan for those Indians who are living abroad and willing to build a house or want to purchase home in India or want to renovate home/property in India.

• Property that NRIs can buy

NRIs can invest in any immovable property for residential or commercial property in India. But they are not able to invest in other properties like land for agricultural, plantation estates, and farmhouses.

• Eligibility Criteria To Apply For An NRI Home Loan In India

1. age must be between 21 and 70
2. Must be salaried or self-employed
3. Most lenders require the income to be above Rs. 500000 per month.Work experience should be of at least 1 year.
4. some lenders require a resident Indian as a co-applicant
5. Maximum Loan Amount An NRI May Get
6. The loan amount depends on many factors like age, qualification, employment, work experience, rate of exchange, creditworthiness, and more.

• The Rate of interest for NRIs

The home loan rates in India varies from lender to lender. Generally, reputed lenders offer low rates of interest with the best deals. The average range is between 9%-11%.


Loan Against Property is the best plan for home for homes.

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