<aside> <img src="/icons/forward_red.svg" alt="/icons/forward_red.svg" width="40px" /> Amongst all banks in India, SBI is HDFC’s main competitor for the top spot in the list of banks that provide the best housing loans for NRIs.
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| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI | 8.40% - 10.15% p.a. | 8.40% - 10.05% p.a. | 8.40% - 10.05% p.a. |
| HDFC Bank Limited | 8.35% p.a. onwards | 8.35% p.a. onwards | 8.35% p.a. onwards |
| LIC Housing Finance | 8.40% – 10.35% p.a. | 8.40% – 10.55% p.a. | 8.40% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. |
| Punjab National Bank | 8.45%-10.25% p.a. | 8.40%-10.15% p.a. | 8.40%-10.15% p.a. |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. |
| Union Bank of India | 8.35% – 10.75% p.a. | 8.35% – 10.90% p.a. | 8.35% – 10.90% p.a. |
| IDFC First Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| L&T Finance Limited | 8.60% p.a. onwards | 8.60% p.a. onwards | 8.60% p.a. onwards |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Tata Capital Housing Finance | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards |
Note: Interest rates as on 27th October 2023
| Bank Name | Description | NRI Home Loan Interest Rate |
|---|---|---|
| SBI NRI Home Loan | SBI offers competitive home loan interest rates, loan amounts up to Rs. 3.5 Crores and flexible repayment tenors. | Starting from 8.7%* |
| HDFC NRI Home Loan | HDFC Bank provides home loan eligibility up to Rs. 10 Crores, a simplified application process, and quick approvals. | Starting from 8.7% * |
| ICICI NRI Home Loan | ICICI Bank provides NRI home loans with hassle-free application processes and low-interest rates. | Starting from 9%* |
| Kotak Mahindra NRI Home Loan | Kotak Mahindra Bank provides NRI home loans with competitive interest rates and minimal documentation. | Starting from 8.8%* |
| Bank of Baroda NRI Home Loan | Bank of Baroda offers home loans with competitive interest rates and flexible repayment options. | Starting from 9.1%* |
| Punjab National Bank NRI Home Loan | PNB offers home loans with competitive interest rates and flexible repayment terms. | Starting from 8.8%* |
| Union Bank of India NRI Home Loan | Union Bank of India provides several home loan products to meet versatile client needs with competitive interest rates and minimal documentation. | Starting from 8.8 %* |
| LIC Housing Finance | LIC housing finance comes with flexible repayment terms and fast approval. | Starting from 8.6%* |
| Tata Capital NRI Home Loan | Tata Capital provides NRI home loan applicants with competitive interest rates and hassle-free loan processing along with flexible repayment options. | Starting from 10.10* |
| IDFC NRI Home Loan | IDFC Bank offers home financing to Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) who wish to purchase residential property in India. | Starting from 8.85%* |
SBI NRI Home Loan is a loan facility offered by the State Bank of India (SBI) to Non-Resident Indians (NRIs) to purchase or construct residential properties in India. The bank provides NRI home loans at fixed and floating interest rates, with up to 20 years of repayment options. Eligibility for the loan is determined by the applicant’s NRI status, income, and credit history. The loan also requires collateral security, such as a third-party guarantee, property documents, and other assets. In addition, SBI NRI Home Loan comes with a hassle-free online application process, quick loan disbursal, and low processing fees.
| High Loan Amounts | INR 5 crore |
|---|---|
| Low-Interest Rates | 8.7%* |
| Flexible Tenure | From 5 to 30 years |
| Repayment Charges | NIL |
| Easy Application | Simple and hassle-free |
HDFC NRI Home Loan is a mortgage loan offered to Non-Resident Indians (NRIs) who wish to purchase residential property in India. It is a unique loan product designed to meet the needs of NRIs who have the financial capability to invest in property but are unable to do so due to their residency abroad. The HDFC Bank offers home loans to both salaried and self-employed NRIs. The loan amount offered is up to 80% of the property value, and the repayment tenure is up to 20 years. HDFC NRI Home Loan is one of the most competitive mortgages offered in India and provides NRIs with the opportunity to invest in their dream home without making a huge down payment.
| Loan Amount | INR 10 crore |
|---|---|
| Low-Interest Rates | **8.7% *** |
| Flexible Tenure | Up to 30 years |
| Repayment Charges | NIL |
| Documentation | Minimal documentation |
ICICI Home Loans for NRIs is a comprehensive home loan offering from ICICI Bank, one of India’s leading private sector banks. This loan is designed to meet the needs of Non-Resident Indians (NRIs) seeking to purchase property in India. It offers competitive interest rates, flexible repayment options, and quick and hassle-free processing. The borrower can use the amount to purchase ready-to-move-in homes, under-construction homes, or to finance home improvement projects. Borrowers can also take advantage of discounts on processing fees, insurance premiums, and other charges. With ICICI Bank Home Loans for NRIs, you can realize your dream of owning a home in India.
| Pre- Approved Offers | Are available based on the applicant’s profile |
|---|---|
| Low-Interest Rates | 9%* |
| Flexible Tenure | Up to 20 years |
| Processing Fees | Low as compared to other banks and NBFCs |
| Customer Care Service | 24/7 |
Kotak Mahindra Bank offers home loans to Non-Resident Indians (NRIs) to help them purchase or construct a home in India. These loans are available for both salaried and self-employed NRIs. The loan amount can be up to 90% of the property value, and the loan tenure can be up to 25 years. The interest rate is also competitive and linked to the bank’s base rate. The bank also offers features such as free accidental death insurance, insurance to cover the loan amount, and flexible repayment options. The documents required to avail of the loan include a passport, overseas address proof, bank statement of overseas bank account, and PAN card.
| Pre- Approved Offers | For existing customers |
|---|---|
| Low-Interest Rates | 8.8%* |
| Flexible Repayment Tenure | Up to 15 years |
| Application Mode | Online and Offline |
| Loan Amount | 10 lakh to 5 crore |