Deutsche Bank NRI Home Loan

Deutsche Bank is a German-based multinational investment bank. Founded in 1870, it offers various financial services and products. The bank consistently strives to meet and anticipate its customers' needs, positioning itself as one of the leading banks worldwide. One prominent product the bank offers is a Deutsche Bank home loan for NRIs, carefully crafted to meet NRIs' real needs and concerns regarding their aspiration for homeownership. Whether you aim to buy or build a new home, for investment or personal use, for your first home or your next, the bank has the option and resources to disburse funds on time. To bring your dream home to life, Urban Money presents a complete overview of this remarkable credit option. Let’s scroll down for more insights.

Feature & Benefits of Deutsche Bank NRI Home Loan

Following are the pertinent features and benefits of a NRI housing loan in Deutsche Bank:

• Attractive interest rates
• Higher loan amount 
• Easy-to-meet eligibility criteria 
• Minimal documentation and fast approval 
• Available balance transfer facility
• Flexible repayment option 
• exclusive insurance plan

Types of Deutsche Bank Home Loans for NRIs

Following are the types of NRI housing loans Deutsche Bank:

• Standard Home Loan: You can fund for fully completed or under-construction properties.
• Home Improvement Loan: You can use the fund to renovate or modify your current home.
• Home Extension Loan: You can use the fund to upgrade or add more space to your current home.
• Balance Transfer Loan: This enables you to transfer your existing home loan from another bank to Deutsche Bank.

Purpose of Deutsche Bank NRI Home Loan

Let’s take a look at some of the common purposes people typically opt for a Deutsche Bank home loan for NRIs:

• To purchase, construct, or renovate a residential property in India.
• To purchase a plot of land and build a house on it.
• To take over or balance transfer a home loan from another lender.

Deutsche Bank NRI Home Loan Interest Rates

Deutsche Bank NRI home loan interest rates are as follows:

Deutsche Bank NRI Home Loan Documents Required

Deutsche Bank home loan documents for NRIs are as follows:

• Photocopy of Passport: Pages showing your name, address, date of birth, issue and expiry dates, photograph, signature, and stamp regarding your stay outside India.
• Employment Proof: Valid Work Permit/Employment Visa or duly acknowledged petitions for visa renewal if expired.
• Overseas Address Proof: Latest utility bill or national ID card, resident permit, or social security card.
• Local Address Proof: Aadhaar Card, driving license, or voter’s identity card.
• Income Proof: Salary slips, bank statements, and income tax returns.
• Property Documents: Sale agreement, allotment letter, approved plan, and property tax receipts.

Deutsche Bank NRI Home Loan Eligibility Criteria

Following are the NRI home loan eligibility in Deutsche Bank:

• Age Requirement: The applicant must be between 23 and 65 years old.
• Income Limit: The applicant must earn a minimum income of ₹5 lakh per annum. 
• Employment criteria: The applicant must be either a salaried or self-employed individual.  
• Credit Score: The applicant must have a good CIBIL score, preferably 700 or above. 
• Nationality: The applicant must be a Non-Resident Indian (NRI) with a valid Indian passport or a Person of Indian Origin (PIO) with a foreign passport.

Fees and Charges for Deutsche Bank NRI Home Loan

In addition to the Deutsche Bank housing loan interest rate for NRI, there are certain fees and charges you might be aware of, such as:

Tax Benefits of Deutsche Bank NRI Home Loans

Let’s examine the applicable tax benefits you can expect from a Deutsche Bank home loan for NRI:

• Section 80C: An annual deduction of up to INR 150,000 on the principal repayment.
• Section 24(b): A deduction of up to INR 200,000 per annum on the interest repayment.
• Section 80EE: An additional deduction of up to INR 50,000 for first-time homebuyers.