Loan For NRI or PIO

An Indian who has been living overseas for service, conducting business or pursuing a vocation is suitable for a NRI Housing loan.

A factorial loan for Non- resident Indians or a person originated in India. They can sub serve this loan for buying a house, or a land or redevelopment of an existing property. 

But on one most important condition, that the property of the borrower should be in India. The loan seeker will have to provide a delegate to a relative living in Indian if he/ she want to take the loan while living abroad.

An NRI can avail of a loan of up to Rs.2 crore or an amount of up to 85% of the cost of the property. The rate of interest varies from 9.25 to 10.25% p.a.

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