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Home Loan for Self-Employed NRIs
Explore a unique home loan solution that lets NRI entrepreneurs set up a
dream home in their country .
Multiple Loan Uses
Flexible Loan Amounts
Long-term Tenure
Better Loan-to-Value
Home Loan for Self-Employed NRIs
Axis Bank offers you a Self-Employed NRI Home Loan for multiple loan uses. Our Home Loan for Self-Employed NRIs, gives you the benefit of flexible loan amounts. To know more about our Self-Employed NRI Home Loan, be sure to check out the key features and benefits on Home Loan for Self-Employed NRIs.
Features & Benefits
The Home Loan for Self Employed NRIs gives the NRI entrepreneur a chance to purchase their dream home in India. With the help of Self Employed NRI Home Loan, NRIs are now able to work towards buying their dream home. This particular home loan has many features and benefits. The Home Loan for Self Employed NRIs comes with multiple uses and has flexible loan amounts. You can also opt to pay back your loan over a long term, as well as decide if you would like to pay less to borrow more. For a detailed list of the features and benefits, please go through the list below.
Use the loan for multiple purposes
You can avail the Axis Bank Home Loans for Self-Employed NRIs for the following requirements:
- Purchase of house in India
Choose a suitable loan amount to meet your needs
Ranging from ₹20 lakhs to ₹50 lakhs, with a minimum property cost of ₹30 lakhs
Use the loan for multiple purposes
You can avail the Axis Bank Home Loans for Self-Employed NRIs for the following requirements:
- Purchase of house in India
- Resale of house in India
- Construction by self or extension or home improvement in India
- Takeover of existing loan from another Bank
You cannot avail of the loan for the following requirements:
- Loans for Plots
- Agricultural
- Commercial property etc.
Pay less to borrow more
With the following loan-to-value ratios:
- 60% of the property cost for completed properties
- 90% complete under construction
- 50% for the property cost for all other cases
Repay using one of the numerous options
Choose from any of the following convenient repayment options:
- National Automated Clearing House mandate (NACH)
- Standing Instruction(SI)
- PDC from NRE/NRO account
Instantly apply for an Axis Bank NRI Home Loan
- Click here F'ASAP Instant Savings Account' to instantly apply for a Home Loan for NRIs online.
- Download the application form and send across the documents required for NRI Home Loans to any of our Asset Sales Centre.
Individuals eligible for Home Loans for Self-Employed NRIs
NRI/ PIO/ OCI who is self-employed and has his own office set up
Example
- GCC - Partner in a JV/ Non-salaried Director/ Manager in LLC etc.
- USA/ UK - Sole proprietor/ Partner/ Contractor
- Foreign national of citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan, cannot acquire immovable property in India without the permission of RBI. Accordingly loan cannot be extended for the citizens of these countries
Criteria
- Work experience - Minimum 5 years (of which at least 3 years should be in one country). Documentary evidence will be needed for the same
- Age - 24- 60 year at loan maturity
- Margin Money - Margin money is required to be paid through banking channel, only no cash contribution is accepted
- Income - You need to have at least one operative Overseas Account and one NRE / NRO account for one year. Minimum one year overseas bank account statement is to be submitted
Submit the documents listed below and get a Home Loan / Loan Against Property sanctioned in 5 days!
| Mandatory Documents |
| |||||||||
| Proof of Identity | Any one of the following
| |||||||||
| Proof of Address | Any one of the following
| |||||||||
| Date of Birth Proof | Any one of the following
| |||||||||
| Signature Proof | Any one of the following
| |||||||||
| Proof of Income | Any one of the following
| |||||||||
| For Balance Transfer / Takeover of Loan from other bank / financial institution |
| |||||||||
| Lease Rental Discounting |
| |||||||||
| For applicants who are Partners in a Firm / Directors in a Company |
| |||||||||
| Other Important Documents and Checks |
| |||||||||
Documents to be submitted before loan disbursement
| Document | Checks & Controls |
|---|---|
| Loan Agreement and Annexures |
|
| National Automated Clearance House (NACH) mandate/ Standing Instruction (SI) form and Security Cheques (SPDC) |
|
| Loan Cover/ Insurance Details |
|
| Processing Fee / Equitable Mortgage cheques |
|
| Property Documents | Property documents as per type of transaction, according to bank's policy |
| For Balance Transfer / Takeover of loan from other bank / financial institution |
|
| Own Contribution Receipts |
|
| Sanction Letter |
|
| TDS |
|
| PSL Documents |
|
| Other Documents (to be collected if applicable) |
|
Click below to download the list of documents mentioned above.
List of documents required for Disbursement
List of documents required for Sanction
Disclaimer: This is an indicative list only. Additional documents may be asked for on a case-to-case basis.
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