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NRI Home Loan

Most lenders offer home loans to NRI applicants for purchase, construction or renovation of property in India. With digital processing and NRI centric loan offerings, NRIs having a strong credit profile can apply for home loans from abroad. They can also avail tax benefits on home loans availed from India. The interest rates are usually the same as those offered to regular home loan borrowers, with a few lenders offering slightly higher interest rates. They can also visit Paisabazaar website to compare interest rates and loan offers from multiple lenders and opt for the lender best suiting their requirements.
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HDFC Bank
Min Loan Amt. ₹15L
Rate of Interest7.2% - 13.2%
Tenure uptoUpto 30 Years
Processing Fee₹ 10,000
ICICI Bank
Min Loan Amt. ₹15L
Rate of Interest7.65% - 9.80%
Tenure uptoUpto 30 Years
Processing Fee₹ 10,000
Axis Bank
Min Loan Amt. ₹30L
Rate of Interest8.35% - 11.90%
Tenure uptoUpto 30 Years
Processing Fee₹ 14,000
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How Can I Apply for a Home Loan Online?

Get up to ₹5 Crore in 5 Simple Steps

Step 1: Enter your mobile number in the application form.

Step 2: Verify using the OTP sent to your mobile number.

Step 3: Enter details related to your loan requirements.

Step 4: Provide your personal and employment details.

Step 5: Compare offers and apply for the best-suited loan.

Apply Now

Highlights of NRI Home Loan

Interest Rates Depending on the applicant’s creditworthiness
Loan Amount Depending on the repayment capacity of the applicant
Loan Tenure Up to 30 years
Processing Charges Up to 4%
Prepayment Charges
  • NIL (for floating rates)
  • Up to 4% (for fixed rates)
Loan Disbursal Without visiting India through Power of Attorney

Comparison of Home Loan Interest Rates for NRI Applicants from Top Lenders

Lenders usually offer NRI home loans at the same interest rates as those offered for regular home loans. However, a few lenders might offer slightly higher interest rates to their NRI applicants. Below-mentioned are the home loan interest rates offered to NRI applicants of various lenders.

Lenders Interest Rates (p.a.)
Bank of India 7.65%
HDFC Bank 7.90% - 13.20%
ICICI Bank 7.45% onwards
State Bank of India 7.25% - 8.70%
LIC Housing Finance 7.15% onwards
Sammaan Capital 8.75% onwards
Axis Bank 8.00% - 11.90%
HSBC India 7.45% p.a. onwards
Bajaj Housing Finance 7.15% onwards
IIFL Finance 8.75% onwards

Eligibility Criteria of NRI Applicants Availing Home Loan

Below-mentioned is the home loan eligibility criteria set by the lenders for their NRI applicants.

  • Indian citizens holding valid Indian passport and residing and working abroad are eligible for NRI home loans.
  • Minimum age of the applicant should be 21 years at the time of loan application and maximum age should be 65 years at the time of loan maturity.
  • Salaried employees with atleast 1 year of work experience abroad and self-employed individuals with a minimum experience of 3 years in current business are eligible for NRI home loans.

Note that, the eligibility criteria varies from lender to lender. Therefore, NRIs must check their eligibility before applying for home loans to increase their chances of loan approval.

Documents Required for NRI Home Loan

Below-mentioned are the home loan documents required by the lenders to be submitted by NRIs during loan application.

  • Duly filled application form with passport size photograph.
  • KYC documents - Passport, NRI status proof (VISA/OCI card/Residence permit)
  • Communication address proof
  • PAN card (mandator for NRI)
  • PAN/Form 60 (for OCI)
  • Income proof - Salary slip/certificate for last 1 month, overseas bank statement with salary credit for last 3 months
  • Business proof - P&L statement and ITR for last 2 years, business incorporation documents, details of overseas operative bank account for last 6 months, office address, list of directors, shareholding pattern, etc.

Note that, the documents vary from lender to lender. Therefore, applicants should ask for the list of documents from the respective lender before loan application to speed up the approval process and reduce the chances of loan rejection.

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Tax Benefits on NRI Home Loans

NRIs can avail the same tax benefits on home loans as Indian citizens under the Income tax Act 1961, on principal and interest payments made on home loans. The tax benefits are explained below:

  • Under Section 24(b) - NRIs can claim a tax deduction of up to Rs. 2 lakh on the interest component of their home loan per financial year.
  • Under Section 80(C) - NRIs can also claim a tax deduction of up to Rs 1.5 lakh per financial year on the principal amount.
  • For joint home loans - In case the property is jointly owned by your earning spouse, both can claim deductions on the principal and interest component separately. Thus, they can avail tax benefits of up to Rs. 7 lakh per financial year.
  • For first time home buyers  - First time home buyers can avail an additional deduction of up to Rs. 50,000 under Section 80EE and up to Rs. 1.5 lakh under Section 80EEA.

Tips for NRIs Applying for Home Loans

NRIs applying for home loans can follow the below-mentioned tips for hassle free loan processing.

  • Maintain a strong credit score.
  • Compare multiple lenders on fintech platforms.
  • Make a higher down payment.
  • Check your eligibility before loan application.
  • Use home loan EMI calculator to assess your financial stability and opt for a loan amount accordingly.
  • Check for pre-approved offers on home loans.
  • Make part-prepayment whenever you have surplus funds.
  • Opt for the right loan tenure.

How Can I Apply for a Home Loan Online?

Get up to ₹5 Crore in 5 Simple Steps

Step 1: Enter your mobile number in the application form.

Step 2: Verify using the OTP sent to your mobile number.

Step 3: Enter details related to your loan requirements.

Step 4: Provide your personal and employment details.

Step 5: Compare offers and apply for the best-suited loan.

Apply Now

Explore Our Home Loan Lenders

HDFC BANKHDFC BANKAxis BankAxis BankKotak Mahindra BankKotak Mahindra BankICICI BankICICI BankFederal BankFederal BankIDFC First BankIDFC First BankIndusind BankIndusind BankRBL BankRBL BankSBI BankSBI Bank
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FAQs

Can NRIs get home loans in India?

Yes, NRIs meeting the lender’s eligibility criteria can get home loans in India.

Can NRIs avail tax benefits in India?

Yes, NRIs can avail tax benefits on the principal and interest component under Section 80(C) and Section 24(b), respectively.

Can NRIs make their home loan repayments from abroad?

Yes, NRIs can make their home loan repayments from abroad.

Can the NRI home loan be disbursed without visiting India?

Yes, NRI home loan can be disbursed without voting India through the Power of Attorney.

What are the home loan interest rates offered to NRI applicants?

NRI applicants are offered home loan interest rates depending on the creditworthiness of the applicant.

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What our customers say

Time saving process

Office ke chalte jyada samay nahi nikal pata tha. Paisabazaar ke online process ki wajah se na hi mene banks ke rates compare karliye ghar bathe balki mera loan application aur disbursal bhi ghar bathe hi ho gaya...bank jana hi nahi pada...

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Pradeep SinghJan 7, 2026

Kam rates pe loan mila

Paisabazaar se mujhe bahut kam rate pe loan mil gaya...isse mere budget pe jada asar nahi pada aur jald hi mera apna ghar ho jayega..

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Nidhi SharmaJan 6, 2026

eligibility check ho jati hai free

me home loan lene ka soch raha tha uske liye mene pehle paisabazaar app se free me apni eligibility check ki..usse mujhe pata chala muje kya cheeze improve karni hai aur fir mera loan jaldi approve ho gaya.

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Shikhar SahuJan 5, 2026

Home loan mila yaahaan par

Mujhe home loan chahiye tha aur yahaan par sahayta kiya inhone aur loan mila. Pehla loan tha mera lekin sab ache se ho gaya.

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Prem Prakash PandeyDec 7, 2025

Home loan here

I took home loan here and they helped me in every step specially in collecting and submitting documents at the time of approval.

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Chandan SinghDec 1, 2025

Got the best home loan interest rate

I was confused and did not have so much time to carry out all the research, so I logged in to Paisabazaar’s portal and was able to see the home loan options I was eligible for. With the assistance of Paisabazaar’s experts, I was able to find the home loan that offered the rate of interest I could afford. Thank you Paisabazaar!

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Anu BhatnagarSep 10, 2021

Excellent Home Loan Service by Paisabazaar

Ended up taking an ICICI Home Loan and I think it was one of the best decisions I ever made. I thank Paisabazaar for helping me out and answering my questions with so much patience.

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KJ ThomasSep 10, 2021

Had a great experience with Paisabazaar

I have always heard my friends talking about how tedious it was for them to avail a home loan and decide the most suitable option. But with the help of Paisabazaar, I was able to compare several home loans and opt for the one that suited my needs. I am happy that I considered Paisabazaar for helping me.

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Ritesh SharmaSep 10, 2021

quick and easy home loan process

I had never thought that applying for a home loan could be so easy. The entire process was online and I didn’t have to go anywhere for application or documentation of my home loan. Paisabazaar experts helped me navigate through the process and later the bank collected my documents and everything was quick and seamless.

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Rupanjali MishraSep 3, 2021

Satisfied experience with Paisabazaar

I am satisfied with my home loan experience with Paisabazaar. I could easily compare different home loan options and apply for the home loan. Their customer care team also called me to confirm all the details and soon after the bank contacted to take the process forward. The process was really smooth.

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Soumil KhannaSep 3, 2021
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