| Eligibility |
| General |
|
Non-Resident Indians (NRIs) and Persons of Indian
Origin (PIOs) from the specified
countries are eligible to take a home loan from
us.
|
| |
 NRI
: |
An Indian citizen who holds
a valid Indian passport and
stays abroad for employment or carries on business under
circumstances indicating an intention to stay abroad
for an uncertain duration |
| |
PIO
: |
An individual (not being
a citizen of Pakistan, Bangladesh,
Afghanistan, Sri Lanka, China, Iran, Nepal or Bhutan)
who
- at any time held an Indian passport;
or
- was or whose father or grandfather
was a citizen of India by virtue of the constitution
of India or the Citizenship Act, 1955
|
|
Age |
| Minimum
: |
21 years for applicants
from USA and Canada
23 years for applicants from Gulf Cooperation
Council countries ( GCC )
25 years for applicants from other countries
|
| Maximum
: |
Retirement
age or 60 years, whichever is earlier, at the
time of loan maturity |
|
| |
|
| Source
of income |
| The applicant
must have a regular and proven source of income. The
person should be abroad for a minimum period of 1 year
in the case of salaried applicants and 3 years in the
case of self-employed applicants. |
| |
|
| Minimum income |
| The applicant should fulfill
the following criteria for minimum income per annum: |
| |
Salaried |
Self-employed |
| Loan
Tenure |
Up
to 5 yrs |
5-10
yrs |
Up
to 7 yrs |
| USA
and Canada (USD) |
30000 |
42000 |
42000 |
| GCC
(AED Equivalent) |
36000 |
48000 |
48000 |
| Other
countries (USD Equivalent) |
30000 |
42000 |
42000 |
|
|
Minimum income for applicants from the merchant navy
is USD 20,000 for loans upto 5 years and USD 26,000
for loans beyond 5 years and upto 10 years. |
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|