banner banner

Stay Up-to-Date with Our Blogs & Articles

The texts on this website have been translated using an automated translation tool and its accuracy cannot be guaranteed. We recommend referring to the English version of the content for the most precise information. In the event of any disputes or inconsistencies, the contents in the English language shall be considered final and binding. IIFL HFL disclaims any liability or responsibility in this matter.
Go Back to Main blog page

A Step-by-Step Guide to Applying for an NRI Home Loan

By IIFL Home Loans | Published On Jun 05 2023 9:22 AM 1 min read 251 views 737 Likes


As a Non-Resident Indian (NRI) with a deep longing for a home in India, you understand the challenges that once discouraged NRIs from investing in Indian properties. But the times have changed. The lending landscape has undergone a digital makeover, making home loan applications a breeze.

India's progressive policies also allow you to purchase multiple properties, adding a touch of excitement to your homeownership dreams. To equip yourself with essential knowledge, this informative article highlights key aspects of NRI home loans.


NRI Home Loans

NRI stands for Non-Resident Indian, encompassing Indian citizens or Foreign Nationals of Indian Origin living outside India for employment or business or to stay abroad indefinitely. Those spending less than 182 days in India during the preceding financial year are also classified as NRIs.

An NRI home loan is a specialised loan offered to Non-Resident Indians (NRIs) or Persons of Indian Origin (PIOs) who wish to purchase or construct a property in India. These loans cater to NRIs' unique requirements and financial circumstances, providing them with the necessary funds to invest in residential or commercial properties in India.

NRI Documents Checklist for Home Loan Application


1. Application Form and passport-size photographs

2. Identity Proof:

3. Address Proof:

4. Resident Power of Attorney

    • Valid Passport

    • Visa Card

    • Valid Passport/Visa

    • Copy of Rental Deed or Title Document as Foreign Residence Proof

  1. 5. KYC of Power of Attorney

    6. Income Proof and Other Documents:

    • Last 3 months' salary slip

    • Appointment/Increment/Contract Letter

    • If servicing existing loans, provide 6 months' repayment bank statements.

    • Copy of Receipt(s) of payment(s) made to the developer (if applicable).

    7. Additional Documents:

    • Latest Utility bill

    • Rent agreement on Stamp Paper

    • Life Insurance Policy

    • Municipal or property tax receipt

    • Rent agreement on Stamp Paper

    • Copy of the Sale Deed of the property

    • Residence address Certificate

    • Post office saving bank account statement

    • Documents issued by Govt. departments of foreign jurisdiction and letters issued by the Foreign Embassy or Missions in India

    • Letter from a recognised public authority or public servant verifying residence and identity

    • Letter of allotment of accommodation from the employer

    • Pension or family pension payment orders or PPOs issued to retired employees by PSUs, Government

    • Bank statements showcasing the borrower's address of any commercial nationalised bank

    • Copy of complete chain documents of the property (as applicable)

    • Copy of the Allotment Letter/Buyer Agreement

    • Copy of Agreement to Sell

NRI Home Loan Eligibility:

Here are the eligibility criteria for an NRI Home Loan in India:

  • You, as an Indian citizen (salaried or self-employed), should be between 18 to 75 years old

  • Hold a valid Indian passport

  • Ensure your passport doesn't have a "No Entry" stamp, allowing you to enter the country.

  • If you're appearing in person to apply, have a passport with a valid entry visa.

  • For applicants with PIO/OCI status, provide a valid PIO/OCI card copy alongside your foreign country passport.

Applying for a Home Loan as an NRI

Here's your step-by-step guide to securing an NRI home loan in India:

STEP1: Check your NRI Home Loan eligibility online.

STEP 2: Choose the loan amount and the maximum tenure best suits your needs and repayment capacity.

STEP 3: Fill out the loan application and gather the necessary documents for your NRI home loan.

STEP 4: Once your loan is approved (fingers crossed), the funds will be credited straight into your NRI account.


The once overwhelming process of obtaining a home loan has been simplified through digital advancements. With India's progressive policies, you can now easily access NRI home loans to fulfil your homeownership dreams.

Experience a seamless home loan borrowing journey with IIFL Home Loans. Benefit from attractive interest rates, minimal documentation, a transparent and hassle-free process, customised NRI home loan tenure, flexible repayment options, and dedicated expertise.

Visit IIFL Home Loans today and turn your homeownership dreams into reality! Click here to read more.


1. What is the NRI Home Loan Interest Rate?

The interest rate for NRI home loans varies among institutions. NRIs may generally have to pay slightly higher interest rates, typically more than the home loan rates for residents.

2. Who is considered a Non-Resident Indian (NRI)?

A Non-Resident Indian (NRI) is an individual who holds Indian citizenship or is of Indian origin but does not reside in India.

3. How can an OCI avail of a Home Loan without visiting India?

An OCI does not need to visit India for a Home Loan.

4. Are Power of Attorney (POA) documents required for NRI loans?

Yes, in all NRI Home Loans, regardless of whether the NRI applicant is present in India during the application process, a Resident Indian Power of Attorney (POA) is mandatory.

5. In which countries must the NRI be employed and residing to be eligible for ahome loan?

The eligible countries for NRI employment and residence are:

  • North American countries: USA and Canada

  • Middle East countries: UAE (Dubai, Sharjah, Abu Dhabi only), Riyadh, Bahrain, Muscat, Kuwait, Saudi Arabia, Qatar, and Oman

  • East Asian countries: Singapore, Malaysia, Hong Kong, Japan, and Thailand

  • All EU countries, excluding Spain, Greece, Portugal, and Italy

  • Australia and New Zealand


apply loan

Quick and Hassle Free Loan Processing

green ad
Prelude to Building Green - IIFL Home Loan's Guide to Sustainable Affordable Housing
Download report

Disclaimer: The information contained in this post is for general information purposes only. IIFL Home Finance Limited (including its associates and affiliates) ("the Company") assumes no liability or responsibility for any errors or omissions in the contents of this post and under no circumstances shall the Company be liable for any damage, loss, injury or disappointment, etc. suffered by any reader. All information in this post is provided "as is", with no guarantee of completeness, accuracy, timeliness, or of the results, etc. obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability, and fitness for a particular purpose. Given the changing nature of laws, rules, and regulations, there may be delays, omissions, or inaccuracies in the information contained in this post. The information on this post is provided with the understanding that the Company is not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. This post may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other agency or organization. This post may also contain links to external websites that are not provided or maintained by or in any way affiliated with the Company and the Company does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. Any/ all (Home/ Loan Against Property/ Secured Business Loan/ Balance Transfer/ Home Improvement Loan/ NRI Home Loan/ Home Loan for Uniformed Services) loan product specifications and information that may be stated in this post are subject to change from time to time, readers are advised to reach out to the Company for current specifications of the said (Home/ Loan Against Property/ Secured Business Loan/ Balance Transfer/ Home Improvement Loan/ NRI Home Loan/ Home Loan for Uniformed Services) loan.