Home Loan Schemes for NRI in India | List of Banks

Check out the Various Housing loan Schemes available for NRI’s in India. List of major banks who offered home loans for NRI at attractive rates of interest. With NRI home loans prevalent in India owing a home has become easy for the NRI’s just like the resident Indians. However an individual can avail a home loan provided he/she fulfills certain conditions.

Home Loan applications received for rupees ₹ 419,027 crores till 06 July 2020


Loan Amount

Annual Income


120,17,256 loan quotes taken till now.
Home loan Interest rates starts from 7.90% for women, 7.95% for Others.

  • NRI Status – To be eligible for an NRI home loan one must be an Indian citizen with a valid Indian passport and must be staying abroad for employment or carrying out business or vocation or must be posted abroad by the Indian government or companies or must be serving in international agencies like the IMF, UN, World Bank etc.
  • Property eligibility – Any property ready for possession or under construction, construction of property on an owned plot or for alterations to the existing property is eligible for loan. Moreover, one can also avail a loan for buying a plot of loan.
  • Educational qualification – An NRI at least needs to be a graduate to be eligible for a home loan.
  • Maximum Loan amount allowed – Banks generally avail 80-85% of the property value as loan depending on the income, place of residence etc.
  • Tenure of loan – The tenure for the loan may vary from 5-15 years.
  • Repayment of loan – The repayment of the loan is done through Indian rupees and it can only be paid through Non-resident External (NRE) or Non-resident Ordinary (NRO) accounts or by  remittance from abroad through proper banking channels.

Documents Required – One needs to submit the following documents for availing a home loan.

  1. Copies of passport
  2. Valid visa and work permit
  3. Contract of employment
  4. Work experience certificate
  5. Salary certificated  (must be attested by the embassy) and statements of NRE or NRO accounts
  6. Photograph etc.
  7. Employment Card for employees residing in Middle East.

Some of the NRI home loans offered by banks in India:

Name of the institution/Bank

Loan Amount

Repayment period

State Bank of India Min. loan amount Rs 50 LacsMax. loan amount Rs 2crore  Maximum 30 years (or) Up to the age of 70 years
ICICI Bank 80% of the property value Maximum up to 15years
Citibank Upto Rs 5 crores or 80% of the property value Not Available
Indian Overseas Bank Maximum of 80% of the cost of the house or Rs. 500 lakhs whichever is lower. Maximum period of 180 months (15 years).
ING Vysya Bank Minimum amount of the loan is Rs. 5 Lacs and Maximum amount is Rs. 300 Lacs Not available
Bank of Baroda Maximum amount-  Rs 100 lacs in Rural/ Semi urban & Rs 300 lacs in Urban/ Metro area. Maximum 15 years
Federal Bank Loan amount up to Rs.1500 Lakhs Upto 15 years
Union Bank Of India Maximum 5 Crore for metropolitan areas including state capitals.
3 Crore for urban areas (other than metros), 1 Crore for rural and semi-urban areas, 10 Lakh for repairs
Upto 25 years and in case of repairs upto 10 years.
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Top Banks for Home Loans in India
Banks Interest Rates
SBI Home Loan 7.35% - 7.70%
HDFC Ltd Home Loan 6.95% - 7.50%
ICICI Bank Home Loan 7.45% - 8.55%
LIC Housing Home Loan 7.50% - 8.50%
DHFL Home Loan 9.75%
Axis Bank Home Loan 8.10% - 8.65%
Bank of Baroda Home Loan 7.25% - 8.25%
Canara Bank Home Loan 7.35% - 7.80%
Aadhar Home loan N.A