Indiabulls NRI Home Loan

Indiabulls Home Loans (IBHL) is here to help make that dream of owning a home in India a reality. They offer home loans and assist in selecting the perfect property, handling all the necessary documents, and determining the best EMI and tenure options for you. The goal is to provide their NRI customers with a convenient and efficient experience, ensuring their dreams come true without unnecessary delays. Indiabulls value your input and strive to make the entire process hassle-free. With its office in Dubai, they are easily accessible to NRIs looking for an NRI Home Loan. Additionally, its countrywide network of branches in India allows us to serve you better across various regions. With attractive interest rates, minimal paperwork, flexible repayment options, and virtual guidance available, obtaining a housing loan for NRIs is now just a click away.

Feature & Benefits of Indiabulls NRI Home Loan

Here are some of the notable features and benefits of Indiabulls Home Loan for NRI:

• Indiabulls offers home loans for NRIs through its app and website, providing convenient accessibility no matter the time or place. 
• The documentation process is straightforward, and there are various options for loan tenure to suit individual needs. 
• These home loans are available to new and existing customers, with attractive interest rates and no prepayment charges. 
• Indiabulls also provides multiple options for loan repayment, ensuring flexibility for borrowers. 
• The approval and disbursal process is quick and efficient. 
• Customers have a wide range of over 400,000 properties to choose from with Indiabulls Home Finder.

Purpose of Indiabulls NRI Home Loan

The purpose of Indiabulls NRI Home Loan is to cater specifically to the unique needs of Non-Resident Indians (NRIs) who wish to own or invest in residential property in India. The main objectives of offering NRI Home Loans by Indiabulls include:

• Facilitate Property Ownership in India: Indiabulls aims to make it easier for NRIs to buy, construct, or renovate properties in India. This will help them fulfil their dream of owning a home in their homeland or investing in the Indian real estate market.
• Competitive Financing Options: Indiabulls NRI Home Loan makes financing a property in India more accessible and affordable for NRIs by offering competitive interest rates and flexible loan terms.
• Support Investment Goals: Understanding that real estate can be an important part of an NRI’s investment portfolio, these loans are structured to support NRIs’ investment goals, whether buying a new property, constructing a home, or purchasing a plot for future construction.
  
• Leverage Tax Benefits: NRI Home Loans are structured to allow borrowers to avail of tax benefits under the Indian Income Tax Act on both the principal repayment and interest payment, making property investment more tax-efficient.

Indiabulls NRI Home Loan Interest Rates

The Indiabulls NRI Home Loan interest rate starts at 9.30% and may vary based on your profile, loan amount, duration, property type, and other risk factors. This includes the rates provided under our partnership with banks through the Co-origination arrangement.

Indiabulls Home Loans provides customers with competitive interest rates that make purchasing their home more feasible. They recognise that interest rates greatly affect your monthly repayments – lower interest rates mean lower EMIs. That’s why they offer attractive interest rates across various periods, enabling you to afford your dream home without significantly impacting your monthly finances. Indiabulls’ rates and fees are transparent and are determined by several factors, such as your personal details, loan duration, loan amount, and property type.

Indiabulls NRI Home Loan Documents Required

The Indiabulls NRI home loan document requirements are as follows:

• Duly filled and signed by all applicants.
  
• One coloured passport-size photograph of all applicants (signed across).
  
• Processing fee cheque.
  
• Identity proof (PAN card, passport, and visa/ work permit).
  
• Residence proof (utility bills like telephone, electricity or water bill / registered rent agreement).
  
• Salary slips of the past three months with six months’ salary bank statements.
  
• Form P60/ P45 and the latest employment contract.
  
• Consumer credit check report.
  
• Sanction letter/account statement of running loans and bank statement reflecting loan repayments.
  
• Bank statement from where payment has been made to the builder (own contribution).
  
• If the property has already been selected, a photocopy of property title documents.

Indiabulls NRI Home Loan Eligibility Criteria

The Indiabulls NRI home loan eligibility is based on the following criteria:

• Minimum age at the time of application should typically be 21 years. The maximum age at the time of loan maturity must be 60 years for salaried individuals and 65 years for self-employed individuals.
• An Indian citizen holding a valid Indian passport who is residing and working abroad can apply for home loans for NRIs. 
• Please note that all property owners must be Applicants/ Co-Applicants to the loan, with an Indian resident mandatorily required as a co-applicant.

Fees and Charges for Indiabulls NRI Home Loan

Tax Benefits of Indiabulls NRI Home Loans

As an NRI, you have the opportunity to receive tax advantages on your Indiabulls home loan:

• Interest Payment: According to Section 24, you can receive a tax exemption on the interest paid up to a maximum of Rs. 2,00,000.
  
• Principal Sum: By utilising Section 80C, you can claim up to Rs. 1,50,000 for the principal amount paid during the year.
  
• Joint Loans: If you choose to take out a home loan jointly with another NRI or a resident Indian, both parties can individually benefit from these tax advantages.
• Property Restrictions: It’s important to note that you are only eligible for these tax benefits if you own a maximum of 2 residential properties in India.