Home loan for NRIs

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Loan Quantum

4 times of Annual Gross Income
Higher quantum (5 years of Gross Income) can be considered on a case-by-case basis subject to certain conditions

Margin (on Project Cost)

Amount of Housing Loans	In case of New House/ Flat & Old House/ Flat (Up to 10 Years Old)	In case of Old House/Flat (> 10 Years old)
Upto Rs. 30.00 Lacs	10%	25%
Above Rs. 30.00 Lacs & upto Rs.75.00 Lacs	20%	25%
Above Rs. 75.00 Lacs	25%	25%

In the case of Repairs & Renovations, expansion of the existing unit, upgradation, and creation of additional amenities, a uniform margin of 25% on project cost is applicable.

The Margin is Stipulated on the Total Project Cost

In case of Housing Loans where project cost is up to Rs. 10 lakhs, Stamp duty, Registration Charges, and other Documentation Charges can be included in the project cost for the purpose of stipulating margin as well as LTV ratio.
Where the project cost exceeds Rs. 10 lakhs, the margin is stipulated only on the basic project cost, which shall not include expenses towards stamp duty, registration, and other documentation charges.

Processing Charges

0.50% on the loan amount with a minimum of Rs. 1500/- + GST and maximum of Rs. 10000/- + GST
Bank is celebrating Retail Loan Festival and waiver of 100% processing charges from 01.10.2025 to 31.12.2025.

Security

Equitable mortgage by deposit of title deeds / Registered mortgage where necessary.
Guarantee of suitable Resident Indian acceptable to Bank

Repayment

By EMIs.
Remittances from abroad through normal banking channels
Funds transfer from NRE/FCNR (B) accounts.
Remittance from local funds by close relatives
ECS mandate/PDCs lodging as the case may be.
Repayment period Max 30 years or up to the age of 60 years of the borrower, whichever is earlier
Repayment period up to 30 years or till the borrower attains the age of 70 years also can be considered on a case-to-case basis subject to certain conditions

Repayment Holiday

In the case of purchase of ready-built house/flat: The repayment shall commence within TWO MONTHS from the date of the first disbursement.
In the case of purchase of Site & Construction of House thereof and OR only construction of House in the existing Site: ‘The repayment shall commence within 2 months after completion of House OR 24 months from the date of first disbursement, whichever is earlier’.
In the case of purchase of flat under construction: ‘The repayment shall start within 2 MONTHS of completion of construction OR 36 Months from the date of first disbursement, whichever is earlier.

Prepayment

At your choice. Even in case of takeover of liability by other banks / HFIs, no prepayment penalty will be charged in respect of Housing Loans carrying floating rate of interest.

Stipulated Loan Application with 2 passport size photos of applicant / Co-applicants or guarantor
KYC documents of applicant/ Co-applicants or guarantor
Proof of Identity
PAN CARD/Driver’s License/Voter ID /Passport/ Aadhar Card etc.
Proof of Residence
Driver’s License/Voter Id/Passport / Aadhar Card / Electricity Bill/Telephone Bill etc., /Business Proof related GST and others.
Age proof of the applicant/ Co-applicants.
PAN card (photo copy)
Salaried individuals
- Bank statement of salary account for past 6 months.
- Proof of confirmed service of 3 years: -
  Form No.16 & ITR if any supported by Employee ID/Appointment Letter/ Confirmation in services evidencing duration of the employment/3 years IT Returns
Business/Self-Employed individuals
- Balance Sheet and Profit & Loss account for past three assessment years.
- ITR/ITAO filed for past three assessment years.
- In case of agricultural income is also included in ITR, Copy of lands records.
- Statement of Bank Account.
- Brief note on the nature of business.
- Proof of Business
NRI applicants
- Proof of identity
  Copy of first 4 pages of passport and page with visa stamp, or IC/PIO card.
- Valid work permit
- Copy of salary certificate duly attested by Indian Embassy/ Consulate/ Employer
- Account statement/ passbook of overseas bank showing salary and savings.
- Notarized Power of Attorney, if applicant proposes to authorize a third party to execute the documents/ complete the mortgage formalities/ avail the loan instalments.

Documents required based on the loan purpose :

For Construction of House	For purchase of Ready-Built House	For purchase of Flats
Title deeds of the property and link documents for the last 13 years.	Title deeds of the property and link documents for the last 13 years.	Title Deeds of Builder for last 13 years.
Encumbrance Certificate for past 13 years.	Encumbrance Certificate for past 13 years.	Encumbrance Certificate for past 13 years.
Khata Certificate/ Khata Extract	Khata Certificate/ Khata Extract.	Khata Certificate/ Khata Extract.
Upto date tax paid receipts of the property.	Upto date tax paid receipts of the property.	Upto date tax paid receipts of the property.
Copy of the approved plan for the proposed construction / extension / addition.	Copy of the approved plan	Sketch of Flat
An affidavit-cum-undertaking that applicant shall not violate the sanctioned plan, construction shall be strictly as per the sanctioned plan.	An affidavit-cum-undertaking from the applicant declaring that the built up property has been constructed as per the sanctioned plan and/or building bye-laws	Sanctioned Plan & License from competent authority.
Completion Certificate (within 3 months of completion of construction).	Completion Certificate.	Copy of Occupancy Certificate by Local Authority.
Allotment letter of Co-operative Society/Housing Board (wherever applicable)	Agreement of sale of property.	Agreement of Sale with Applicant.
In case of allotment of a plot by the Society, documents to be submitted are as follows Extract of the Resolution Bye laws of the Society Payment receipts(original) Share Certificate(original) Title Certificate Property Register card extract Building Commencement Certificate.		Original Registration Receipts Original Stamp Duty Receipts (if any) Original receipts issued by the Builder to the Purchaser of the flat Certified copy of the Building commencement certificate Builder’s Demand Notice Property Register card extract
NOC from Society/Association/Builder/Housing Board (Wherever applicable).		NOC from Banker of Builder (wherever Project finance has been availed by the builder)
Copy of Lease Deed (wherever applicable)	Copy of Lease Deed (wherever applicable)	Original Sale Deed executed by builder in favour of purchaser.
	KYC documents of seller of property.

Additional Documents in case of Takeover from Other Bank/ FI
- NOC from existing Banker regarding pre-closure.
- List of original documents held by Transferor Bank along with their attest copy
- Copy of Sanction Letter
- Statement of Loan Account from date of sanction
Any other documents as required by Bank.