NRI Home Loan in India Many non-resident Indians (NRIs) dream of investing in a home. To fulfill this dream, many financial institutions in India offer NRI home loans. These home loans come with specific eligibility criteria, interest rates, and essential do’s and don’t that NRIs should be aware of. In this comprehensive blog, we will explore the details of an NRI home loan to help you confidently navigate this important financial decision. Eligibility Criteria for NRI Home Loan in India To be eligible for an NRI home loan, you must meet specific criteria: NRI Status: You must be a Non-Resident Indian, as defined under the Foreign Exchange Management Act (FEMA). Age: Lenders typically require applicants to be at least 21 years old. Income: Lenders will assess your financial stability and repayment capacity. A regular source of income, either in India or abroad, is essential. Work Experience: Some lenders may require…
