NRI home loan - Indian Real Estate Forum

revs09 · 26-04-10

Has anyone taken home loan for house in India while residing outside the country? Would you able to share your experience regarding how/where you sent the documents and how the process was etc

bulli79 · 26-04-10

Hi,

First you ahve to chk wid the bank abt what all are documents are required to avail a loan...Generally they will ask for PP copy, Visa copy,offer letter,employment id card,pay slip for 6 months.....etc....In some of the banks they may ask you to notarize the above said documents at indian embassy or with any of the notary public at ur place.

If u need further clarification plz be more specific.

wasiter · 27-04-10

Quote:

Originally Posted by revs09

Has anyone taken home loan for house in India while residing outside the country? Would you able to share your experience regarding how/where you sent the documents and how the process was etc

Yes, i have.

1: Which Bank? - depends on the type of docs that you have to send
2: PP copy, GreenCard or WP, Tenancy Agreement, Bill (proof of address), Employment offer, Payslips (6 mnths), Bank stmts showing salary/wages gets credited (6 mnths), Official email id, tel/.
3: Self employed means more docs - Business bank account
4: If you are in UK, US - then CREDIT REPORT.
5: Processing fees.

RITE2RAM · 28-04-10

Yes , took loan couple months back. Documents pretty much same as what is mentioned in waister post. Apart from that

6. 3 to 6 months NRE Account statement from where emi would be paid 7. Power of attorney in india , each bank has its own structure, that one need to get it notorized from embassy and then the power of attorney in india should get it stamped in register office.
8. Any previous outstanding loans if so then details about that.

Except power of attorney,application form all other documents was scanned and send to the bank in email and hard copy is self attested and send to them later. Again i think this differs with the bank.

vpsureshkumar · 28-04-10

Below is the required document for loaning at ICICI bank

Document required for sanction

Pay slip for the latest 3 months ,6 if Bimonthly
Bank statement latest 6 months – Both domestic ( NRE or NRO) and international (salary credit)
Proof of continuous employment for three year, Appointment letter
Photo of applicant & co-applicant
Visa copy
Passport Copy
Processing fee chq from NRE or NRO Account.
Power of Attorney as Per ICICI Format.
For the resident over other country Proof of person of Indian Origin to be obtained.
Legal and Technical
Parent document, sale deed, patta
Encumbrance certificate for the latest 15 years
Sale agreement in Rs.20 stamp paper (in case of resale)
Construction agreement (in case of flat purchase)
Planning and building permit
Approve plan or approve layout.

26-04-10	#1
revs09 New Member Join Date: Feb 2010 Posts: 5 Thanks: 0 Thanked 0 Times in 0 Posts	NRI home loan Has anyone taken home loan for house in India while residing outside the country? Would you able to share your experience regarding how/where you sent the documents and how the process was etc

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26-04-10	#2
bulli79 New Member Join Date: Feb 2010 Posts: 22 Thanks: 0 Thanked 0 Times in 0 Posts	Hi, First you ahve to chk wid the bank abt what all are documents are required to avail a loan...Generally they will ask for PP copy, Visa copy,offer letter,employment id card,pay slip for 6 months.....etc....In some of the banks they may ask you to notarize the above said documents at indian embassy or with any of the notary public at ur place. If u need further clarification plz be more specific.

28-04-10	#4
RITE2RAM New Member Join Date: Feb 2010 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts	Yes , took loan couple months back. Documents pretty much same as what is mentioned in waister post. Apart from that 6. 3 to 6 months NRE Account statement from where emi would be paid 7. Power of attorney in india , each bank has its own structure, that one need to get it notorized from embassy and then the power of attorney in india should get it stamped in register office. 8. Any previous outstanding loans if so then details about that. Except power of attorney,application form all other documents was scanned and send to the bank in email and hard copy is self attested and send to them later. Again i think this differs with the bank.

28-04-10	#5
vpsureshkumar Member Join Date: Dec 2008 Posts: 84 My Mood: Thanks: 0 Thanked 0 Times in 0 Posts	Below is the required document for loaning at ICICI bank Document required for sanction Pay slip for the latest 3 months ,6 if Bimonthly Bank statement latest 6 months – Both domestic ( NRE or NRO) and international (salary credit) Proof of continuous employment for three year, Appointment letter Photo of applicant & co-applicant Visa copy Passport Copy Processing fee chq from NRE or NRO Account. Power of Attorney as Per ICICI Format. For the resident over other country Proof of person of Indian Origin to be obtained. Legal and Technical Parent document, sale deed, patta Encumbrance certificate for the latest 15 years Sale agreement in Rs.20 stamp paper (in case of resale) Construction agreement (in case of flat purchase) Planning and building permit Approve plan or approve layout.