Most Indian banks and housing finance companies offer home loans to NRIs and OCIs. Here's how it works.
Who is eligible
NRIs with a stable overseas income, typically aged 21–60, employed or self-employed. Lenders assess your income, job stability, and the property.
Key differences from a resident loan
- Repayment must be through NRE/NRO/FCNR accounts (remittances from abroad), not foreign cash.
- Tenure is often shorter than for residents.
- Many lenders require a resident co-applicant or a Power of Attorney holder in India.
- Loan-to-value (LTV) is similar — usually up to ~75–80% of property value.
Documents
- Passport, visa/work permit, OCI card, PAN.
- Overseas salary slips / income proof, bank statements, employment contract.
- Property documents and, if applicable, the PoA.
Tax benefit
NRIs filing tax in India can claim the same home-loan deductions as residents — principal under Section 80C and interest under Section 24(b) — if they have taxable Indian income.
Use our loan eligibility calculator and EMI calculator to plan.
This guide is general information, not legal, tax or financial advice. Rules (FEMA, income tax, TDS, stamp duty) change and depend on your situation — please confirm current rules with a qualified chartered accountant, lawyer or the relevant authority before acting.