DOCUMENTS
REQUIRED FOR NRI HOME LOANS
This page offers the list of documents required
for availing of home loans and faqs specifically
for NRIs
Documents
Required (NRIs)
Employment/residency related documents:
Photocopies of:
- Employment contract (English
copy if the contract is not in English, attested
by the Embassy/Employer).
- Latest work permit.
- Details of previous employment.
- Identity card issued by current
employer.
- Continuous discharge certificate
(CDC) – (for applicants employed in
the merchant navy).
- Latest salary slip/certificate.
- Overseas Bank Account Statement
(four months).
- Pages with visa stamp on the
passport.
Property Related Documents:
- Allotment letter from the co-operative
society / association of apartment owners.
- Receipts for payments made for
purchase of the dwelling unit.
- Agreement for sale / sale deed
/detailed cost estimate from Architect / Engineer
for property to be purchased / constructed
/extended / improved.
- Copy of approved drawings of
proposed construction/purchase/extension.
Additional
documents be submitted by Person of Indian Origin
Photocopy of PIO card.
If the PIO card is not
available, photocopies of any of the following
documents:
- The current passport, with birthplace
as ‘INDIA’.
- The Indian passport, if held
by the individual earlier.
- Parents/grandparents Indian
passport/birth certificate/marriage certificate
substantiating the individuals claim as a
person of Indian origin.
Home Loan FAQs (NRIs)
How do I repay the loan?
You repay the loan in Equated Monthly
Installments (EMIs), which includes principal
and interest. EMI repayment starts from the
month following the month in which you take
full disbursement. EMI is payable every month,
by the end of the month from the date of each
disbursement up to the date of commencement
of EMI. Pre-EMI is calculated at the same rate
at which EMI is calculated. EMI payments are
to be made through post dated cheques from your
Non Resident (External) Account/Non Resident
(Ordinary)/Non Resident (Special) Rupee Account
(NRSR) in India.
Can I repay my loan ahead of schedule? Yes.
You can repay the loan ahead of schedule, by
remittances through abroad through normal banking
channels, your Non Resident (Ordinary) / Non
Resident (Special) Rupee Account (NRSR) in India.
Does the Agreement For Sale have to be registered?
In many states in India, the Agreement of Sale
between the builder and purchaser is required
by law to be registered. You are advised in
your own interest to lodge the agreement for
registration within four months of the date
of the Agreement at the office of the Sub Registrar
appointed by the State Government, under the
Indian Registration Act, 1908.
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