If you are a self employed NRI, you would like to apply for Home Loan for Self Employed NRIs. To avail the same, you need to check if you are eligible for the same. You can check the list below to see if you have all the Self Employed NRIs Home Loan eligibility.
Individuals eligible for Home Loans for Self-Employed NRIs
NRI/ PIO/ OCI who is self-employed and has his own office set up
- 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
- 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
Documentations for Self Employed NRIs Home Loan
In order to begin your application process for the loan, please make sure that the documentation for the Self Employed NRIs Home Loan is in order.
Keep your documents ready
|Proof of identity
||Passport & VISA for NRI
Passport and PIO Card / OCI card for Person of Indian Origin/ Overseas citizen of India
|Proof of residence
||Bank account statement or latest utility bill or House lease document
- Last one year statement of all NRE/ NRO account and overseas account.
- Minimum AVERAGE MONTHLY Balance in Overseas operating account : AED 10000 for at least one year (Gulf) or USD 5000 (or equivalent) in rest of the world
- NRE/ NRO- average quarterly balance of INR 2 Lac for 1 year
|Proof of Business
||Latest Tax Return (or equivalent) and Business License details (or equivalent) as required
||Detail Business profile with company information
||5 year Business continuity Proof