Indian Bank NRI Home Loan

What are the eligibility condition for issuance of Home Loan by Indian Bank for NRI candidates ?

[Kiran Chandar]

Indian Bank offers Home Loan to NRI candidates as you want ti am here telling you about the eligibility condition for issuance of NRI Home Loan.

Eligibility
Maximum permissible age :

At the time of applying
50 years

At the end of repayment period
60 years.

NRIs gainfully employed with a residual contract period / service of atleast 3 more years to run.

NRI professionals with regular monthly income.

Amount of Loan
36 times of Gross Monthly Income
or
60 times of Net Monthly Income whichever is higher.

Margin :
For Loans upto Rs. 20 lakhs : 10%

For Loans above Rs.20 lakhs upto Rs.75 lakhs: 20%

For Loans above Rs.75 lakhs: 25%

For Repairs & Renovation: 30%

Repayment
Loans for purchase / construction of House / Flat: Max. 15 years (including holiday period)