customer-corner
Customers' Corner
Member of BCSBI
1800 425 4445
हिन्दी | Color Theme
Home > Nri accounts > NRI Homeloan Scheme
Last Updated on 04/05/2017
NRI Homeloan Scheme

BUILD YOUR DREAM HOME WITH OUR HOME LOAN SCHEMES
 
NRI HOME LOAN SCHEME
? For purchase /construction of residential building in India or for repair/renovation of existing houses
? Joint loan with close relatives of NRI also considered
? Eligibility
  a) 20 times of monthly salary
b) Maximum 80% of construction or purchase cost – maximum INR 50 lacs
c) Maximum INR 5 lacs for repair and renovation
d) Minimum monthly income of applicant should be INR 10000
   
? epayment period - Maximum 180 Equated Monthly Instalments (EMIs) for construction/purchase and 60 EMIs for repair/renovation
? If property is let out on rent, entire rental income should be paid to the loan account
? Repayment by close relative in India permitted
? Holiday period for repayment 6 months for acquisition, 12 months for construction and 3 months for repair/renovation
? Mortgage of property as security
? Processing fee applicable

HOME LOAN SCHEME FOR CLOSE RELATIVES OF NRIs
 
Home loans are granted close relatives of NRIson the basis of guarantee of NRI
? Close relatives of NRIs like spouse/childen/parents eligible
? Applicants should be resident Indians
? Minimum monthly salary of NRI should be INR 15000
? Salary of applicant also considered if employed in government/public sector or reputed institutions
? NRI should have minimum three years continuous service overseas and one year account relationship
? Property should be registered in the name of relative
? Eligibility
  a) Maximum 20 times of gross salary
b) Maximum loan amount INR 20 lacs for construction/acquisition
c) Maximum INR 3 lacs for repair/renovation with 25% margin
? Repayment Period – 15 years for construction or acquisition and 5 years for repair/renovation