Age Limit
| Minimum Age | 21 years |
| Maximum Age | • 70 years (at the time of sanction) • 75 years (at the time of closure of loan) |
Eligibility for SBI customers
- Valid Indian passport
- Steady Source of Income
- Employed abroad for at least 2 years
- Holding a valid job contract/work permit
- Having NRI account with SBI for at least 12 months with minimum average balance of Rs. 50,000/- or New Account with USD 5000/- or equivalent.
Eligibility for Other Bank Customers
- Valid Indian passport
- Steady Source of Income
- Employed abroad for at least 2 years
- Holding a valid job contract/work permit
- Having NRI account with other Banks for last 24 months with a minimum balance/fixed deposits of Rs.50,000/-
- The borrower will open NRI account with SBI for repayment of EMIs
- Guarantor: Resident Indian who is the guarantor to the loan should be a close relative (Ex. father, mother, spouse, son and daughter) of the NRI borrower.
NMI/NAI
| Minimum NMI | US$ 1000.00 or equivalent in other currencies |
| Minimum NAI | US $ 12000.00 or equivalent in other currencies |
Loan Amount
| Minimum | Rs 1 lakh |
| Maximum | 18 times of NMI of Borrower 1.5 times of NAI of Borrower |
Note: Flexi Pay Option for the first 6 months (upto 50% of regular EMI) if the loan is repayable in 36 months. Flexi pay option in the form of 50% of regular EMI for the first 6
months and 75% of regular EMI for the next 6 months if the tenure of the loan is 60 months.
Tri-merge/any other credit report as applicable should be submitted by the NRI. Minimum acceptable score is 620 for Tri-merge. If the country of residence does not have a credit score system for individuals, the bank will rely on the income level and the statement of assets & liabilities furnished by the NRI.