**NRI Eligibility for Home Loans** Banks define NRI eligibility broadly: Indian citizens who reside outside India for work or business purposes (under FEMA). OCIs are also eligible. Foreign nationals (non-NRI, non-OCI) are not eligible for home loans from Indian banks. **Loan Parameters** | Parameter | Typical Range | |-----------|--------------| | Loan amount | ₹20 lakh to ₹10 crore | | LTV (Loan-to-Value) | Up to 80% of property value | | Tenure | Up to 20–30 years | | Interest rate | 8.50–9.25% (floating, Q1 2026) | | Currency | Indian Rupees only | **Top NRI Home Loan Products** **SBI NRI Home Loan** - Rate: 8.50–8.90% - Processing fee: 0.35% (max ₹10,000) - Special feature: Repayment allowed from NRE/NRO/FCNR account - Strength: Lowest rates; extensive branch network in India **HDFC NRI Home Loan** - Rate: 8.60–9.10% - Processing fee: 0.5–1% - Special feature: Online application with video KYC; relationship manager assigned - Strength: Fastest processing for well-documented cases; 30-day disbursal claim **ICICI Bank NRI Home Loan** - Rate: 8.65–9.15% - Processing fee: 0.5% - Special feature: EMI remittance from overseas bank account (for NRE account holders) - Strength: Strong NRI client base; dedicated NRI banking app **Axis Bank NRI Home Loan** - Rate: 8.70–9.25% - Processing fee: 0.5% - Special feature: Joint loan with resident Indian co-applicant increases eligibility - Strength: Flexible income assessment for self-employed NRIs **Documents Required** *Common documents:* - Passport (valid) and visa copy - Overseas employment letter or business proof - Last 3–6 months' overseas bank statements - Last 3 months' salary slips (or business income proof) - Indian address proof (any one: Aadhaar, voter ID, utility bill of India property) - PAN card (mandatory for all financial transactions in India) *Property documents (after booking):* - Builder-Buyer Agreement (registered) - RERA registration certificate of the project - Title documents of land (for builder's verification) - Builder's NOC for loan **Repayment Rules** - EMI must be remitted from NRE, NRO, or FCNR account in India - Principal repayment from NRE account: fully repatriable - Principal repayment from NRO account: subject to ₹1M/year repatriation limit **Power of Attorney for Loan Processing** Many banks now accept video conferencing in lieu of personal visit for signing loan documents. However, for property registration, physical presence or a PoA holder in India is mandatory. Your PoA holder can execute the mortgage agreement on your behalf.