If you’re a Non-Resident Indian (NRI), buying property in India can be quite a lucrative investment for you. Here are some of the major benefits of home loans for NRIs:
Managing NRI home loans is now more convenient than ever, thanks to modern technology. NRIs can make use of online NRI home loan calculators to quickly check home loan amount eligibility. Even home-search is made simple with the property search services that some NFBCs provide. Moreover, easy document upload and safe document storage features make for hassle-free documentation and online Application trackers provide updates on the application status. You can also download a mobile application or head over to the company website to easily manage your account online. Furthermore, the whole process of NRI home loans is made much less complicated with the one-click loan approval and quick disbursal options.
Check out this convenient NRI home loan calculator!
Besides providing NRI home loans, a good NFBC will partner with you every step of the way to ensure a comfortable experience of buying your dream home. Not only will it ensure a speedy processing of your loan application, it will also offer home loan counseling services at your doorstep and customization of the home loan. Your requirements will be taken into consideration and you’ll get the assistance you need to select a suitable property, check approvals of the selected project, register the property, file documents, and choose the apt home loan EMI and tenure of your loan.
NFBCs offer competitive pricing in home loans for NRIs in India. You can get an NRI home loan of up to 85% of the cost of the property, subject to your repayment capacity. Also offered by most NFBCs are attractive interest rates and the option of easy monthly repayments under part disbursements. Moreover, by choosing a home loan under adjustable interest rate, you can link your NRI home loan rate to benchmark rates of IHFL. If there is a change in the benchmark rate of IHFL, though the rate on your home loan may be revised, the EMI on the NRI home loan disbursed will not change. Balance Transfer is also possible with reduced interest rates and EMIs. What’s more, there are no pre-payment / foreclosure charges on home loans for NRIs. There are some impressive rent saving and tax benefits to getting an NRI home loan as well. Indian income tax law allows deduction on both principal and interest repayment of the home loan.
Visit the NRI home loans page to know more!