Shwas Homes clears a common question

Can NRI’s avail of loans back in India?
This is a common question raised in the minds of people who intend to purchase a property or home in India. Shwas Homes Pvt Ltd gives a satisfying answer to this common question.  The Reserve Bank of India has issued certain guidelines for granting loans to Non-Resident Indians by Housing Finance Company. The guidelines are:

  • The loan amount should not exceed 85% of the cost of the dwelling unit.
  • Own contribution, which is the cost of the dwelling unit can be financed, less the loan amount, can be met from direct remittances from abroad through normal banking channels, from the Non-Resident (External) account in India and /or the Non-Resident (Ordinary) account in India.
  • Repayment of the loan, comprising of principal and interest including all charges are to be remitted to HDFC from abroad through normal banking channels, from the Non-Resident (External) account in India and /or the Non-Resident (Ordinary) account in India.

You can directly contact Shwas Homes to clarify your doubts with regard to sale or purchase of a house by an Non – Resident Indian.

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