Home Loan option for NRI

For years you have worked hard to make your dreams come true. You crossed borders to create a new life from scratch for your future and your family. Everyone dreams of a beautiful house, and most of the savings and investments are made to realize this goal. 

It’s time that you reap the fruits of your labour and fulfil the dream that you always had. With SBM’s support, get a home loan specially designed for NRIs. The loan process is seamless and keeps your needs in mind.


For Indians, whether they live abroad or in India, buying a home is an emotional milestone and is considered an important one. At the same time, the real estate industry in India is on a boom, credits to its rapid development. The young population of India is migrating from one city to another in search of opportunities which is increasing the demand for good accommodation with appropriate amenities. This demand has given rise to several building projects across different cities. You can now see the aspirations of young Indians turning into reality on the outskirts of the city. These projects are getting equal support from the government too as it is developing infrastructure in the nearby areas with road development projects, water connections, new rail lines. Such developments are increasing the land rate and are creating fertile ground for real estate investment. 


A wide choice of home loan options is available to NRIs to purchase their home. Our NRI home loan works as a bridge between you and the real estate investment in the Indian market. 



SBM’s HOME LOAN ELIGIBILITY CRITERIA:


You may be a salaried person or self-employed to avail a home loan. Our NRI home loans can be availed individually or with co-applicants who may or may not be co-owners of the property. Note all co-owners need to be co-applicants.


NRI home loans can be availed for the purchase of new homes, resale homes or to construct your home on a plot owned by you. You can also avail of NRI home loans for the purchase of a plot, for home renovation or extension, or for refinancing your existing home loan availed from another financial institution in India by taking advantage of our best-in-class NRI home loan interest rates.


DOCUMENTS REQUIRED FOR SBM HOME LOAN:


Following are the key documents needed to apply for an NRI home loan:

  • Proof of identity, residence, and income

  • Copy of property allotment letter/buyer agreement or agreement to sell if the property is already shortlisted

  • Passport size photographs of all applicants

  • Power of Attorney if applicable

  • Photocopy of a valid passport and visa

  • Cheque towards processing fees


SBM’s HOME LOAN PROCESS:


We follow quick, hassle-free processing and provide end-to-end assistance for our home buyers.


To apply for an NRI home loan, you need to submit the duly filled home loan application form along with the necessary documents to the lender either directly or through a POA holder. You can avail yourself of our online process as well.


WIDE ARRAY OF BENEFITS WITH SBM NRI HOME LOAN


If your concern is regarding the NRI home loan interest rates, then you can gleefully abandon that fear because SBM Bank provides the market’s most attractive interest rates. For our NRI customers, we have convenient repayment options so you can live your life hassle-free and pay your instalments in no time. Our housing plans allow you to easily plan your repayment schedule because we provide you with convenient repayment options and flexible tenure. 


We realize how important it is to make your advance payment at the right time. Due to real estate’s volatile nature, a slight delay can result in extra payment which could have been easily avoided. However, NRI real estate investors and homebuyers can be at peace because we ensure fast processing of the loan. 


But what if you have an existing loan? Don’t worry easily transfer your balance and take advantage of our best-in-class interest rates. Moreover, you can get an additional top-up loan of a sizeable amount free from any restrictions, so you build a one-of-a-kind home for yourself and your family. To add a cherry on the top, our home loans are available for both ready and under-construction properties. All of this is to ensure that getting a home loan becomes one of the simplest processes you ever had to go through.  

Owning a home is investing for a more secured future - an asset that will grow with you. With our customized home loan offerings loaded with exclusive features and benefits, we welcome you to the house of your dreams. 

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