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Purpose
- Home loan to NRIs, PIOs & OCIs
Guidelines
- as applicable for home loans.
- Repair, furnishing and other terms & conditions as applicable for HL
Eligibility
- Age over 18 yrs with steady source of income
- Work experience of 2 yrs in India or abroad
- 2 yrs job contract for abroad out of which 6 months already spent
Loan Amount
- Min. loan Rs.3 lacs
- Max. as per EMI/NMI or LTV whichever is lower.
LTV
- Salaried Loan upto Rs.75 lacs – 80%
- Salaried Loan >Rs.75 lacs – 75%
- Non salaried loan upto Rs.75 lacs – 75%
Repayment
- Repayment – 30 yrs
- Max 60 yrs age or retirement whichever is earlier.
- AGM can relax age upto 70 yrs.
Security
- Security – EM of property acquired out of bank finance.
Other
- Execution of loan document based on POA is allowed.
- CIR – Sal & Non Sal – 2 reports, CIBIL & another from concerned overseas credit information Co.
- HL Rs.50 lacs & above report of business entity from Dun & Bradstreet information services P ltd. AGM may permit relaxation.
