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NRI Home loan
Getting a Home Loan from ICICI Bank is quick and easy. Variety of products are available depending on your unique needs such as buying a house, building a house, purchasing property in India, etc. Whatever be your unique need, ICICI Bank has a loan product just for you.
Loan repayment tenure
Loan repayment tenure of up to 30 years
Doorstep assistance
Doorstep service in India till disbursement
Approved Projects
Choose from projects approved for funding.
Interest rate
Option to avail floating or fixed interest rate
NRI Home Loan Eligibility
| Age | Minimum: 21 Years Maximum: 65 Years or retirement age whichever is earlier at the time of maturity of loan. |
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| Eligible profiles | Salaried: Minimum 1 year of employment overseas Self-Employed:Minimum 3 years in current business overseas |
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| Tenure | Home Loan: 30 Years Home Improvement Loan: 15 Years Land Loan: 20 Years |
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| Minimum Income |
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| Interest Rate | To know more Click here
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Documents required for NRI Home Loan
Basic Documents:
| Sr No | Document Type | Salaried | Self-employed |
|---|---|---|---|
1
|
Application form as per our Format and passport size photographs – to be signed by the applicants
|
Y
|
Y
|
2
|
KYC documents – Identity Proof, Overseas & Indian Address Proof, Signature proof (PAN Card / Form 60 as per our format, Passport etc)
|
Y
|
Y
|
3
|
Residence Proof in India:- Aadhar card/ Passport copy
|
Y
|
Y
|
4
|
Copy of Valid Passport and Visa copy
|
Y
|
Y
|
5
|
For PIO / OCI applicants-
|
Y
|
Y
|
6
|
Processing fee cheque from NRE/NRO/overseas salary account of the customer.
|
Y
|
Y
|
7
|
Power of Attorney document as per our format duly signed by all the applicants
|
Y
|
Y
|
8
|
Non solicitation declaration as per our format to be signed by the applicants if home loan is applied when customer is in India
|
Y
|
Y
|
Income & Other Documents:
| Sr No | Document Type | Salaried | Self-employed |
|---|---|---|---|
1
|
Salary Slip for 3 months
|
Y
|
N
|
2
|
Bank Statement
|
3 months
|
6 months
|
3
|
Appointment Letter/ employment contract
|
Y
|
N
|
4
|
Incorporation certificate, Latest 3 years audited financials with CA certification, IT Returns etc.
|
N
|
Y
|
5
|
Credit Report downloaded (From Transunion / Equifax), Experian or Transunion of all applicants.
|
Y
|
Y
|
6
|
Office Address Proof & Business Profile
|
N
|
Y
|
| Sr No | Document Type | Salaried | Self-employed |
|---|---|---|---|
1
|
Latest 12 months Statement from loan account
|
Y
|
Y
|
2
|
Outstanding principal statement on existing lender’s letterhead
|
Y
|
Y
|
3
|
Original list of documents
|
Y
|
Y
|
4
|
Declaration cum Undertaking of legal documents submitted to existing lender
|
Y
|
Y
|
You can apply for an India Home Loan even before you have selected your property. ICICI Bank will sanction a loan amount, based on your repayment capacity.
A co-applicant is not mandatory to avail a Home Loan. Personal Guarantor is required if there is no co-applicant. The co-applicant may be a resident Indian or an NRI.
Co-applicant can be son, daughter, sister, brother, parent or spouse. We can include your spouse’s income to enhance your loan amount. Further, if there are any other co-owners, they too will need to be co-applicants.
Your loan will be disbursed after you have selected a property; submitted all the necessary legal documents; the property is technically and legally cleared; and you have paid your own contribution toward the purchase of the home. The cheque for the loan amount is drawn in favour of the builder or seller as the case may be. In the case of an under-construction property, ICICI Bank disburses loan amounts appropriate to the state of construction.
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