Yes. You are eligible for tax benefits on the principal and interest components of your Home Loan under the Income Tax Act, 1961. As the benefits can vary each year, please do check with our Loan Counsellor about the tax benefits that you can avail on your loan.
- North America - USA and Canada
- Middle East – UAE (Dubai, Sharjah, Abu Dhabi only), Riyadh, Bahrain, Muscat
- East Asian Countries – Singapore, Malaysia, Hong Kong, Japan, Thailand
- All EU Countries (Except – Spain, Greece, Portugal, Italy)
- Australia and New Zealand
- Yes, Resident Indian POA is must in all NRI Home Loans, irrespective of whether the NRI applicant is present in India at the time of application or not.
- The spouse cannot be a POA holder.
- Resident co-borrower can also be the POA.
- POA can be the co-applicant but it’s not mandatory for POA to be co-applicant when there is another co-applicant in the loan