Godrej Housing Finance NRI Home Loan

Godrej Housing Finance home loan for NRIs is a secured credit option. For example, NRIs can obtain the necessary funds to purchase or construct a home. Still, they must pledge the residential property they have taken a loan as collateral or security. They can be free of this collateral when they repay the secured loan amount to the bank. The lender also charges certain interest rates in addition to the borrowed amount as fees for their service. In other words, the interest rate of a home loan can ultimately decide whether the loan is cost-effective. This is where the NRI housing loan from Godrej Housing Finance comes into play, as it offers rock-bottom interest rates for NRIs compared to other lenders. Hereunder, Urban Money presents a detailed overview of this remarkable credit option. Let’s scroll down.

Feature & Benefits of Godrej Housing Finance NRI Home Loan

Here are the features and benefits of Godrej Housing Finance home loan for NRIs:

• Lower interest rates
• Higher loan amount 
• Longer loan tenure
• Flexible repayment plan
• Quick fund disbursement 

Types of Godrej Housing Finance Home Loan for NRIs

Here are the types of NRI housing loans from Godrej Housing Finance:

• Home Purchase Loan
• Home Construction Loan
• Home Extension Loan
• Home Improvement Loan
• Land Purchase Loan
• Balance Transfer Loan
• Top-up Loan

Purpose of Godrej Housing Finance NRI Home Loan

Following are some of the common purposes people typically opt for a Godrej Housing Finance home loan for NRIs:

• Construction of new houses or flats.
• Purchase of old houses or flats.
• Repairs or renovation of existing house.

Godrej Housing Finance NRI Home Loan Interest Rates

Following are the expected Godrej Housing Finance NRI home loan interest rates and other key parameters: 

Godrej Housing Finance NRI Home Loan Documents Required

Following are the expected Godrej Housing Finance home loan documents for NRI:

• Identity Proof: PAN card, Aadhaar card, Passport, Driving License, Voter ID, and Utility Bills. 
• Income Proof: Last 1-month salary slip, 6-month bank statements, and 2-year Form 16. 
• Property Proof: Sale agreement, allotment letter, payment receipts, approved plan, property tax receipts, etc.

Godrej Housing Finance NRI Home Loan Eligibility Criteria

Following are the applicable NRI home loan eligibility in Godrej Housing Finance:

• Age Requirement: You must be aged between 21 and 65 years old.
• Income Limit: You must receive a regular salary sufficient to cover the loan EMI. 
• Credit Score: You must have a good CIBIL score and a positive repayment history.  
• Residential Status: You must be a Non-Resident Indian (NRI) with a valid Indian passport. 

Fees and Charges for Godrej Housing Finance NRI Home Loan

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

Tax Benefits of Godrej Housing Finance NRI Home Loans

Following are the applicable tax benefits associated with a Godrej Housing Finance home loan for NRI:

• Section 80C: Get a deduction of up to ₹1.5 Lakh on the annual principal repayment.
• Section 24(b): Get a deduction of up to ₹2 Lakh on the annual interest repayment.
• Section 80EE: Get an additional deduction of up to ₹50,000 for first-time homebuyers.