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NRIs can take home loan from Indian bank
Financial Express Kochi
|May 31, 2025
I am an NRI based in the US. I want to invest in a house in India by remitting money to my account before the One Big Beautiful Bill turns into an Act. Can I take a loan from an Indian bank for around a quarter of the property value, and what documents are required?
—Ashish Mittal
Yes, definitely. As an NRI, you are eligible to purchase property in India with a home loan from a bank/NBFC in India. Usually, up to 80% of the agreement cost can be availed as a home loan. The papers required would be your passport, visa details, address proof in both countries, income details, and tax filing history. The tenure of a home loan to an NRI is lower than the tenure for a resident Indian.
I have a credit card outstanding of around ₹2 lakh. I have been paying the minimum amount for the past two months. If I convert it into an EMI for six months, will the interest rate be lower?
—Jitender Singh
This story is from the May 31, 2025 edition of Financial Express Kochi.
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