Piramal Housing Finance NRI Home Loan

A home in India is a long-awaited dream for many NRIs. Due to their residential status, they often worry about the challenges of owning a house in India. This concern often leads many NRIs to avoid looking for a home in their homeland. It could be that they perceive the process as hassle-filled and tedious. However, since the Piramal Housing Finance home loan for NRI has become completely digital, eligible applicants can apply for and secure the necessary funds from the comfort of their couch, wherever it may be in the globe. Urban Money presents a detailed overview of an NRI housing loan from Piramal Housing Finance to bring life to your aspiration for homeownership. We primarily cover Piramal Housing Finance NRI home loan interest rates, eligibility criteria, required documentation, associated fees, and more. Let’s dive in.

Feature & Benefits of Piramal Housing Finance NRI Home Loan

Following are the features and benefits of Piramal Housing Finance home loan for NRIs:

• Loan Amount: Loans range from ₹5 Lakhs to ₹2 Crores.
• Loan Tenure: Flexible repayment tenure of up to 30 years.
• Interest Rates: Competitive interest rates starting at 9.50% p.a.
• Tax Benefits: Deductions on principal and interest repayments under various sections of the Income Tax Act.
• Balance Transfer Facility: Transfer your home loan balance to another lender.

Types of Piramal Housing Finance Home Loan for NRIs

Following are the available types of NRI housing loans from Piramal Housing Finance:

• Home Construction Loan: To construct a home on a plot you already own.
• Home Purchase Loans: To buy a new or pre-owned house.
• Home Extension Loan: To add more space to your existing home.
• Home Renovation Loan: To refurbish and renovate your home.
• Home Loan Balance Transfer: Transfer your existing home loan for better rates and terms.

Purpose of Piramal Housing Finance NRI Home Loan

Here are the key purposes of Piramal Housing Finance home loan for NRI:

• Facilitate Property Purchase: To enable NRIs to buy homes or commercial spaces in India.
• Investment Opportunity: To offer NRIs a chance to invest in the Indian real estate market.
• Retirement Planning: To help NRIs plan retirement by investing in a home in their motherland.

Piramal Housing Finance NRI Home Loan Interest Rates

Let’s examine the Piramal Housing Finance NRI home loan interest rate and other key parameters: 

Piramal Housing Finance NRI Home Loan Documents Required

Let’s examine the Piramal Housing Finance home loan documents for NRI:

Piramal Housing Finance NRI Home Loan Eligibility Criteria

Let’s examine the NRI home loan eligibility Piramal Housing Finance:

Fees and Charges for Piramal Housing Finance NRI Home Loan

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

Tax Benefits of Piramal Housing Finance NRI Home Loans

Let’s examine the associated tax benefits of a Piramal Housing Finance home loan for NRI:

• Principal Repayment: Under Section 80C, you can claim a deduction of up to ₹1,50,000 on the principal repayment of your home loan.
• Interest Payment: Under Section 24(b), you can deduct up to ₹2,00,000 from the interest paid on housing loans.
• Additional Deduction for First-Time Buyers: Under Section 80EEA, first-time homebuyers can claim an extra deduction on the interest paid, subject to certain conditions.