Want to buy or build a new home? Purchase land? Whatever be your unique need, ICICI Bank NRI home loan schemes fulfill all your needs. Check out details on Interest rates, documents, eligibility, EMI & other fees & charges through Deal4loans.com
Benefits of ICICI NRI home loans:
- Attractive interest rates on a monthly reducing basis method.
- fixed and floating interest rates as per your choice
- Part–prepayment facility for zero fees.
- Free personal accident insurance to the extent of loan outstanding.
Home Loan applications received for rupees ₹ 419,027 crores till 30 November 2020
Eligibility Required for NRI home loans in India:
Age: must be minimum 21 years old and maximum is 60 years or retirement age
- If salaried applicant, you should have been abroad for a minimum period of 1 year.
- If self-employed applicant, you should have been abroad for a minimum period of 3 years.
- * Tenor between 11–15 years, minimum qualification to be Diploma/ Graduate with minimum 3 years of employment abroad or professional qualification with 1 year of employment abroad.
- Minimum Income Per Annum break up is as follows:
|Countries||Term<= 5 years||Term 6&10 years||Self employed|
|Middle East||36,000 dhms||48,000 dhms||Post Graduate||96,000 dhms|
|Professional degree||72,000 dhms|
|USA & Others||30,000 USD||42,000 USD||42,000 USD|
|Term<= 5 years||Term 6&10 years|
|20,000 USD||26,000 USD|
|Term<= 5 years||Term 6&10 years|
|48,000 dhms for GCC||2,000 USD for USA and others.|
Amount mentioned above or equivalent.
Processing Fee : 0.5% of the loan amount + applicable Service Tax & Surcharge
List of Documents required for nri home loans under ICICI Bank:
Personal details documents
- 1 passport size latest photograph of each applicant (applicant & co-applicant) with signature across
- Valid passport copies for all the applicants
- Valid visa copies for all the applicants
- Cheque / Draft in INR for fees (as per applicable rate) and the date must be in dd/mm/yyyy format*
- Power of Attorney document as per our format duly signed by all the applicants
- Authority letter duly signed by all the applicants as per our specified format
- Copy of current overseas residential verification proof of all the applicants to the loan. (Driving license or bank statement showing overseas address or latest insurance premium receipt or utility bill)
- Copy of PAN Card for the Ist applicant OR Form 60 as per our format attached here with
- Self attested address proof of all applicants
Financial details documents: for salaried individuals
- Copy of current appointment letter OR Copy of salary certificate clearly mentioning the date of joining, current salary earned and designation held in the company
- Copy of previous appointment letters
- Last 3 months salary slip for fixed salary and last 4 months for variable salary
- Last 6 months bank statements clearly mentioning salary credits in the account
Financial details documents: for self employed individuals
- Incorporation of business
- Income Proof –
- Middle East: Last 2 years audited/C.A certified P&L accounts.
- US & Canada: Last 2 years CPA compiled/reviewed/audited P&L accounts.
- Others: Last 2 years C.A or equivalent certified/audited P&L accounts.
- Partnership deed (incase of a partnership firm)
- MOA & AOA of the company (incase of a private ltd. company)
- Last 6 months bank statements in the company’s name
- Last 6 months bank statements in individual’s name
- Business profile and office address proof
NRI Personal Guarantor documents
If you have opted for a NRI Personal Guarantor on your loan, arrange to send the following documents
- Passport & visa copies of the NRI Guarantor
- Current overseas address verification proof of the NRI Guarantor. (Driving license or bank statement showing overseas address or latest insurance premium receipt or utility bill)
- Current income documents of guarantor