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Can an NRI avail loan in India?- Property Hotline
Posted
November 25, 2016
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283
November 25, 2016
283
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2:13Now PlayingExpert: Expert: Harsh Roongta CEO, Apnapaisa.com, Home Finance Expert.
Question: I want to know if there are any options to avail home loans to those working outside India.
Answer: Almost every home loan lender (whether a bank or housing finance company) provides home loans to Indian citizens residing overseas (NRIs) as well as to Foreign Citizens of Indian origin (PIOs) at the same rates as they offer to resident individuals. The credit appraisal process will depend on the country in which the borrower is resident and would involve looking at is income sources and their regularity. The property process remains the same. Most lenders would require the borrower to complete all formalities when he/she is in India or appoint a power of attorney holder to complete the paperwork in India.
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