Non-Resident Indians[NRIs] between 18 to 60 years, holding Indian passport or Persons of Indian Origin [PIOs] holding foreign passport, singly or jointly with close relative who can be either NRI or PIO or a Resident Indian, conforming to normal borrower standards with independent & regular source of income and is residing abroad for a minimum period of one year.
In addition to spouse maximum of one resident close relative [Father, Mother, Daughter, Son, Brother, Sister] may join as co applicant Gross annual income of the NRI/PIO & co- applicant/s together shall be a minimum of Rs.10 lakhs.
If the applicant is unmarried/divorcee /widow/ widower, co-application of parent/s [irrespective of their age] OR Son, Daughter, Brother, Sister OR a suitable third party guarantee may be obtained.
Project to cost
Registration Charges, Stamp Duty, Documentation Charges will not be included in the project cost.
For purchase of ready built house /flat/flat under construction. For construction of house in pre-owned land.
For purchase of land and construction of house thereon.
For take-over of housing loans from other Banks/Institution, originally sanctioned.
Minimum Rs.5 lakh & Maximum Rs.500 lakh based on location.
10% to 25% based on loan amount
Mortgage of house / flat. Age of the property shall not exceed 30 years.
Repayment period shall not exceed balance life of the building.
Co –application of spouse is mandatory.
Where spouse is also residing abroad, co application of any other close relative residing in India OR suitable third party guarantee of a person residing in India to be obtained.
Rate of Interest
Floating rate of interest is linked to the MCLR & subject to revision from time to time.
Fixed rate option is available. Fixed rate is subject to reset. For Interest Rates, Please click here.