How NRIs Can Avail a Home Loan?


Bangalore: After staying away for years from your homeland, you may feel the urge of coming back and settling down in India. But since the cost of land and residential apartments are soaring high in the nation, at some point you may feel the need of taking a home loan. You may doubt whether being an NRI you can avail a home loan from an Indian bank. To answer this question, Bienu Vaghela from Apnapaisa.com, has come up with few facts which will tell you whether you can or you cannot get a home loan.

Who is an NRI?

"An Indian citizen who holds a valid Indian passport and who stays abroad for employment or for carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a NRI," defines RBI, as stated by ET.

Can a NRI Get Home Loan In India?

Any Non Resident Indian can avail a NRI home loan with much ease and convenience. In fact he can take a home loan for several purposes like a regular resident Indian.