Home Loan Eligibility and Process for Non-Resident Indians - How to Get Home Loans for NRIs in India

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Meet Jose, who is an accounting consultant. He has been working in Dubai at an equity firm, while also running his own consultancy there. He has saved up quite a bit and wants to buy his own home now, back in India, as he plans to move back soon. Jose has enough for a 30% down payment and needs to take out a loan. Being an NRI, he isn’t sure of the process or even if he is eligible for a loan, and is stuck because of lack of advice. Will his status as a non-resident cause his home loan application to be rejected? Will he have a hard time coordinating with a bank in India? Let’s find out in this video.


Even if Jose feels that he may be ineligible to get a home loan in India as an NRI, he can still get one by satisfying the following requirements:

1. 3 years in current business, or minimum 1 year of employment overseas.
2. Provide KYC documents – Identity Proof, Overseas & Indian Address Proof, & Signature proof
3. Provide Residence Proof in India - Aadhar card or Passport copy
4. Provide Processing fee cheque from NRE, NRO, or overseas salary account
5. Be of minimum 21 years of age, and maximum 65.

Jose also came to know that for people with only Overseas Citizenship of India (OCI) card or Person of Indian Origin (PIO) card, further documentation is needed to establish their Indian citizenship. This includes stamped and notarized declaration with Ration Card or Passport of the applicant’s parents, grand-parents, or spouse.
Armed with this information, Jose was able to submit an airtight application and get it approved within just a few days, allowing him to buy his dream home and start making plans to move back to his hometown along with his family.
Need a home loan for yourself? You can apply right away at mymoneykarma. We promise the lowest interest rates from across the top lenders in the market, and a hassle-free 100% online process. What are you waiting for? Get started right away by following the link below!