NRI Housing Loan
NRI Housing Loan refers to Non Resident Home Loan which are for NRIs (Non resident Indian), PIOs (Persons of Indian Origin), and OCIs (Overseas Citizenship of India) who want to purchase property in India. This loan includes buying residential property, land for construction of a home, and repair or renovation of an existing property.
NRI Home Loan
If you are NRI and want to invest in property, home and land then it is the best option for you. Due to big ticket size specific NRI Home Loan Products is offered by various banks and financial institutions.
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Benefits of NRI Home Loan
Taxation
NRIs get the same tax benefits as Indian Resident with repayment of principal and interest of home loan availed in India. Only if they have some income that is taxable in India.
Interest Rate
Attractive and low rate of interest is provided by Banks and other Financial Institutions is beneficial for NRIs.
Type of Interest Rate
NRIs can also choose the type of interest rate on home loan such as fixed interest rate and floating interest rate as per their requirements.
Easy and Hassle Free
The most important benefits of NRI Home Loan is Hassle free and easy documentation with minimal processing charges.
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