Is NRI Home Loan in India considerable?

All those NRIs who are wising to purchase a property in India preferably using a home loan, you must know that yes! One should. You need to be aware of tax policies and foreign exchange regulations. However, it is advised to consult with an expert who can help you understand all the dos and don’ts when attaining home loans in India. NRIs or On-resident Indians are those who hold a valid Indian passport but don’t reside in the nation. NRIs are those who usually stay overseas or in a foreign land to pursue their education or career. So, in case you are one of them and wish to purchase a home in India by attaining a home loan. There are many things that one should know when investing in a property in India via home loans. Now, many wonders can an NRI take a home loan, Well, Yes! The Indian real estate industry is attractive for NRIs (Non-Resident Indians) as it is much easier for them to earn in their currency and pay in Indian rupees. Availing home loans from a bank to invest in property in India, it is actually a lot easier as there are many banks that offer NRI housing loanAll those who fall under the category of FEMA (Foreign Exchange Management Act, 1999) can easily avail of home loans in our nation. This simply describes an NRI as a person who lives in a foreign land for whatever purpose such as operating their business, employment, or anything else.

For better understanding, below listed are some of the key benefits of NRI home loans that you must know…

  1. With an NRI home loan, one can have their requirements fulfilled such as purchasing the home or renovating an old property in India.
  2. You must know that they come with fixed and low-interest home loans.
  3. It is easier for one to apply for a loan online from any part of the world. You can track the loan application too.
  4. Enjoy part-prepayment at zero fees.
  5. Online processing in a fast and transparent manner
  6. Simple application procedure
  7. You will have an estimate about the amount of home loan and regarding EMIs using the NRI home loan

Document Required

NRIs are required to submit documents such as valid visas, passport copies, work permit, work experience certificate, employment contract, certificate of salary, NRO (Non-Resident Ordinary), and NRE (Non-resident External). You must know that the certificate of salary needs to be verified from the embassy in case it is not credited to the bank. Also, you will be required to provide your local address proof along with a POA (power of attorney) to a relative or even a CA (chartered accountant) in India. You must know that all these are mandatory requirements.


It is mandatory for the NRIs to meet specific requirements and pre-requisites to get approval on the loan. We have listed the eligibility criteria below that NRI must know before applying for home loans.

  1. You need to submit a minimum of 2 years of work experience at the company they are working at currently.
  2. It is important for NRIs to fall under the age of 18 years and 60 years. Only those who fall between these will be eligible for home loans.
  3. One needs to be of Indian nationality and should hold an authentic Indian passport.
  4. The applicants need to have a resident Indian co-applicant for a home loan.

Should NRI’s Avail Home Loan in India?

It is possible and easier for an NRI to attain a home loan from a bank in India. NRIs can explore this option extensively, the cost of debt is actually much lower in most countries, foreign banks via corresponding branches in India can offer loans at an amazing rate without having to worry about NRIs can invest in a home on low-interest home loanIt is advised to explore your options to avoid any escalation in the cost of the loan.

Now, we know that the number of Indians that reside in foreign lands is increasing rapidly due to the exploration spirit. Well, those NRI (Non-Resident Indian) who are wishing to invest in property in India to stay in touch with their roots. You can find NRI Selling Property in India but for those who are planning to do so, get in touch with Connecting NRIs. We, being the best, can be of huge help in helping NRIs make the right decision in the realm of real estate and banking. We understand that NRIs wish to stay connected with their roots, and in order to do so, we strive to bring all NRIs together and help them have a home far away from home.

If you are planning to invest in India, fret not! Connecting NRIs will take care of all the processes as we understand the complexities.

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