NRI Home Loan

NRI Home Loan: Overview

Non-Resident Indians (NRIs), or Indian citizens residing abroad, can benefit from customised Home Loans in India to purchase property for residential or investment purposes. Bajaj Housing Finance provides Home Loans at competitive interest rates starting from 7.25%* p.a. for salaried applicants.

With EMIs as low as Rs.790/Lakh* and a flexible repayment tenure extending up to 20 years, basis eligibility and approval, you can repay the loan at your own pace.

Features and Benefits of NRI Home Loan

Competitive Interest Rate of 7.25%* p.a.

Salaried applicants can benefit from Home Loan EMIs as low as Rs.790/Lakh* at 7.25%* p.a.

Repayment Tenure of up to 20 Years

You can benefit from a longer tenure to manage your EMI repayment better, based on eligibility and approval.

Loan Amount of up to Rs.15 Crore*

Avail of a sizeable Home Loan of up to Rs.15 Crore*, depending on your eligibility.

Hassle-Free Application

Enjoy a truly hassle-free experience with our Home Loan application process. Our customer care representatives will assist you on every step to make your Home Loan journey easy.

9,800+ Approved Projects

Choose a property from our list of 9,800+ approved projects and enjoy the best borrowing terms, along with quick and hassle-free processing.

Online Tools for Better Decision-Making

Use our Home Loan EMI Calculator and the eligibility calculator to plan your finances effectively.

Who is Eligible for NRI Home Loans?

To apply for NRI Home Loans, you need to meet the following eligibility criteria:

Age – Applicants should be between 23 and 60 years** of age

Nationality – Resident Indians, NRIs, OCIs, PIOs, and Merchant Navy professionals are eligible to apply

Monthly Income – Applicants must have a stable source of income, as loan eligibility is determined based on repayment capacity

Employment Status – To qualify for an NRI Home Loan, applicants should have at least 3 years of total work experience across India and overseas, including a minimum of 6 months of work experience in the same overseas country with a reputed company or multinational organisation.

**The upper age limit is considered as the age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.

Documents Required for NRI Home Loan Application

The following documents*** may be required while applying for a Home Loan for NRIs, PIOs, OCIs, and Merchant Navy professionals:

Mandatory Document

PAN Card or Form 97 (if the customer does not have a PAN Card)

Note: PAN Card is mandatory for financial applicants/co-applicants

Proof of Identity and NRI status

Valid Indian Passport
OCI Card/PIO Card
Valid Visa/Work Permit/Residence Permit

Additional Documents:

In case of Merchant Navy: Continuous Discharge Certificate (CDC)
In case of OCI/PIO customers: Valid passport issued by the country of the customer’s nationality

Proof of Address (any one of the below officially valid documents):

Indian Permanent Address Proof:

Valid Indian Passport
Driving Licence
Election/Voter’s Identity Card issued by the Election Commission of India
Job card issued under NREGA duly signed by an officer of the State Government
Letter issued by the National Population Register (NPR) containing name and address
Proof of possession of Aadhaar Number (to be obtained voluntarily)

Overseas Address Proof:

Valid Passport
OCI/PIO Card
Overseas Driving Licence
Overseas Leave and License agreement.
Utility bill (electricity/landline/piped gas/water bill; not more than 2 months old)
Document issued by Government Department of Foreign Jurisdiction (Work/Resident Permit, Social Security Card, Green Card, Population Register, etc.)
Letter issued by Foreign Embassy or Mission in India

Income Proof

Latest 3 months' salary slips
Latest 2 years' tax forms as per respective country norms (for example, USA – W2 Form/UK – P60)
Last 6 months' bank statements showing salary credits
Employment Contract/Appointment Letter
Previous employer Appointment letter & Relieving letter (if current employment < 1 year)
Latest/Future Contract Letter in case of Merchant Navy customer

Overseas Bureau/Credit Report

Last 6 months' NRE/NRO account statement

Property Documents:

Fresh Property Purchase

Copy of Allotment Letter or Buyer’s Agreement
Cost Sheet issued by the developer
Receipts of initial payments made to the developer

Resale Property Purchase:

Title Deeds including previous chain of the property documents
Receipt(s) of initial payment(s) made to the seller
Copy of Sale Agreement (if already executed)/Draft Sale Deed

Photographs

Recent passport-sized photos

***This list is indicative. Additional documents may be required at the time of loan processing.

NRI Home Loan: Interest Rates

Bajaj Housing Finance offers NRI housing loans at competitive interest rates alongside nominal charges, where applicable.

For a complete list of our housing loan interest rates, click here.

Who Can Apply for NRI Home Loan

Individuals working outside of India and falling under the below category can apply for NRI Home Loans:

Non-Resident Indian (NRI)
Person of Indian Origin (PIO)
Overseas Citizen of India (OCI)
Individuals in the Merchant Navy

How to Apply for an NRI Home Loan?

If you’re an NRI planning to apply for a Home Loan, you’ll need to be physically present in India at the time of application. A duly signed physical application form is mandatory, along with self-attested copies of your KYC, income, and other documents required during the loan process.

*Terms and conditions apply