NRI Home Loans

SBI NRI Home Loans allows Non-Resident Indians to get closer to home.

SBI NRI Home Loan allows many NRIs (Non Resident Indians) to get home loans when investing in properties. Financially, it makes sense to purchase a property through home loan rather than through personal financing especially when you can invest your personal funds somewhere else for better returns.

Point of Contact for NRI Home Loans

  • Low Interest Rates
  • Low Processing Fee
  • No Hidden Charges
  • No Pre Payment Penalty
  • Interest charges on Daily Reducing Balance
  • Repayment up to 30 years
  • Home Loan Available as Overdraft
  • Interest Concession for Women Borrowers
  • Resident Type: Non Resident Indians (NRIs) or Persons of Indian Origin (PIOs)
  • Minimum Loan Amount: Rs. 15 lac
  • Minimum Age: 18 years
  • Maximum Age: 70 years
  • Loan Tenure: up to 30 years.
  • Loan Amount: Click Here


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Important Notification

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Fees


Post-sanction**

  • Stamp duty payable for Loan agreement
  • Property insurance premium.
  • CERSAI Registration Fee of Rs 50 + GST up to Rs 5 Lakh limit; and Rs 100 + GST for limits above Rs 5 Lakh.

List of papers/ documents applicable to all applicants:

  • Loan Application: Completed loan application form duly filled in affixed with passport size photographs.

In case of KYC compliant Saving Bank accounts:

  • No fresh KYC document is required.
  • Address proof to be provided in case of change of address.
  • PAN to be provided in case of non-availability of PAN in Bank’s record.

In case of KYC non-compliant Saving Bank accounts:

  • Proof of Identity (Anyone): PAN/ Passport/ Driver’s License/ Voter ID card.
  • Proof of Residence/ Address (Anyone): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card.

Property Papers:

  • Permission for construction (where applicable)
  • Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
  • Occupancy Certificate (in case of ready to move property)
  • Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, property tax receipt
  • Approved Plan copy (Xerox Blueprint) & Registered Development agreement of the builder, Conveyance Deed (For New Property)
  • Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller

Account Statement:

  • Bank account details for the previous 6 months overseas account showing salary and savings and Indian account if any.
  • If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year

Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:

  • Valid work permit
  • Employment contract - an English translation duly attested by employer/ consulate / our foreign office / Embassy in case it is in any other language
  • Last three months’ salary certificate/slip
  • Last six months’ Bank Statement showing salary credit
  • Latest salary certificate /slip in original and copy of identity card issued by the current employer
  • Duly acknowledged copy of last year Individual Tax Return except for NRIs/PIOs located in Middle East countries and employees in the Merchant Navy.

Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:

  • Business address proof
  • Proof of income in case of self-employed professionals/businessmen.
  • Last 2 years Audited/C.A. certified Balance Sheet and P&L accounts,
  • Last 2 years Individual Tax Return except for NRI/PIO located in Middle east countries
  • Last six months’ Bank Statement of overseas account in the name of individual as well as company/unit.

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