Home Loans for Non Resident Indians

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Housing Loan for Nri
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Home Loans for Non Resident Indians
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• Owning a personal heaven (read home!) of choice
  is a dream of every human. It is more a necessity
  than a luxury to have a beautiful and
  well-furnished place you can call home.
• Home loans provided by various Banks and Housing
  Finance Companies (HFC's), providing finance to
  the citizens have come the rescue of those
  willing to convert this dream into reality.
• It's not just the citizens who are availing
  these, but even NRIs, whose needs are being
  looked into, as well.
• Regarding home loans for NRIs, various queries
  like "what exactly are they, what do they do, who
  can avail them" may rise in the minds of many.

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• How the government defines NRIs NRI's are Non
  Resident Indians, who are the citizens of our
  country, and who hold a valid document like, say
  the Indian passport.
• They stay abroad for employment or for carrying
  out a business. Every bank follows the RBI
  guidelines to provide a home loan to the NRI's
  who are recognized under Foreign Exchange
  Regulatory Act, 1973.
• Specifications for NRIs intending for a home
  loan Housing Loan for Nri are available for
  construction of new houses or flats.
• purchase of old houses or flats, flat addition,
  alteration of existing houses, renovation,
  repairs etc.

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• An NRI can get a maximum of 85 of the cost of
  property.
• Payment options are critical for providing the
  loan. It should be only through the Equated
  Monthly Installments (EMI), which also include
  the interest and principal amount calculated on
  monthly rests.
• Payment of EMI is by issuing post-dated checks
  from his/ her Non Resident External (NRE) or Non
  Resident Ordinary (NRO) or Non Resident (Special)
  Rupee Accounts (NRSR) in India.
• They are also provided with various facilities
  like Step up Repayment, Flexible Loan
  Installments Plan, and Accelerated Repayment
  Schemes etc., for the repayment of the loan.
• Source http//ezinearticles.com/?Home-Loans-for-N
  on-Resident-Indiansid6132263

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Click to know more on Housing Loan for Nri
https//www.hdfc.com/NRI/Singapore/housing-loans
/home-loans/for-new-homes-salaried
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