With scores of Indians leaving the country every year to work or settle abroad, the term ‘NRI’ (Non Resident Indian) has become an integral part of popular parlance. Every India wherever they are settled wishes to be connected to its roots. A home back in India is one asset that emanates a sense of belongingness. And buying a home mostly entails applying for a home loan as well. Eligibility norms for NRI Home Loans differ from a resident Indian home loan across a few parameters, though the processing is fairly easy.
There are various eligibility norms for NRI home loans that one must be acquainted with as a basic know-how before applying.
NRE/NRO accounts are necessary for processing payments and disbursing the loan amount. However, for builder properties, the disbursal may be debited directly into a builder’s account
With over two decades of specialised experience in housing finance, PNB Housing offers a wide range of home loan products to NRIs (Non Resident Indians) and PIOs (Person of Indian Origin) for purchase, construction, repair and renovation of a residential property in India. Ease of applying for a loan with branches spread across India, robust service delivery model and mark to market credit & financial policies help customers build a long term relationship of trust and commitment.
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