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NRI Corner

Having a home in your own country is one of the best feelings any NRI could have. And, great opportunities of property investments and low interest rates of Finance Companies have made buying a home all the more easier.







Documentation


Salaried Applicants / Co-Applicants


    Identity Proof (any one)

  • Valid Passport (mandatory).
  • Valid Driving License.
  • Voter ID Card.
  • Aadhar Card.

    • Address Proof (any one)

  • Voter ID Card.
  • Valid Driving License.
  • Aadhar Card.
  • Valid Passport (mandatory).

    • Income Proof

  • Copy of the Offer Letter/Appointment Letter/Employment Contract.
  • Bank Statements indicating salary credit for the last 6 months.
  • Bank Statements of the applicant’s Non-Resident External (NRE) / Non-Resident Ordinary (NRO) account in India for the last 6 months.
  • Salary Slips/Certificates indicating the applicant's name (as in the Passport), joining date, designation, salary, perquisites and passport number for the last 3 months.
  • Latest credit report issued by a recognized credit bureau.

    • Other Documents

  • Copy of the valid resident Visa stamped on the passport.
  • Own contribution proof.
  • Occupational history.
  • Processing fee cheque in favour of Bank.
  • Dully filled home loan application form affixed with passport size photographs of the applicants/co-applicants and signed across.

Self-employed Applicants / Co-Applicants


    Identity Proof (any one)

  • Valid Passport (mandatory).
  • Aadhar Card.
  • Valid Driving License.
  • Voter ID Card.

    • Address Proof (any one)

  • Voter ID Card.
  • Valid Driving License.
  • Aadhar Card.
  • Valid Passport (mandatory).

    • Income Proof

  • Copy of the Memorandum of Understanding (MoU)
  • Copy of commercial/trade license.
  • Balance Sheet and Profit & Loss Account Statements with Schedules/Annexures for the last 3 years (audited by a certified CA).
  • Current account statement of the business entity for the last 12 months.
  • Account statements of the individual’s NRO/NRE account in India for the last 6 months.
  • Latest credit report issued by a recognized credit bureau.

    • Other Documents

  • Business Profile.
  • Copy of the valid resident Visa stamped on the passport.
  • Own contribution proof.
  • Details of other ongoing loans, if any, along with the loan sanction letter.
  • Processing fee cheque in favour of Bank.
  • Dully filled home loan application form affixed with passport size photographs of the applicants/co-applicants and signed across.


Tax Benefits of NRI Home Loans


Under Section 80C of the Income Tax Act, 1961, NRIs are eligible for tax benefits on home loans if they file income tax returns in India.


*Note: These details are indicative. Documents may vary case to case.