NRI Home Loan Maximum Amount

The normal rule is that banks and housing finance companies easily provide NRI home loans up-to 85% of the cost of the residential property. However, the upper limit of the loan amount sanctioned and the down payment will depend on various factors and can also vary from lender to lender.

For example if you take a NRI housing loan for purchase, construction, extension or renovation of a new house or flat from ICICI Bank, it will happily finance 85% of the total cost of the property. However, if you take a NRI home loan for purchase of a plot of land for residential use, the maximum amount of home loan financed will be 75% of the total cost of the property.

Again there are special schemes offered by banks, which break all the rules, like the one from Citibank, which provides a NRI home loan up to 89% of the property value if the loan value is less than or equal to Rs. 50 lakhs.

What are NRI home loans?

NRI home loans are home loans that are offered to Indian nationals who are not currently residing in India. They are for Indian nationals who would like to invest in the Indian property market even though they are not currently living in the country. The NRI home loans are a great way for people who are living outside of India to invest in the strong property market that is available to all Indian nationals.