| HOME LOAN SCHEME FOR CLOSE RELATIVES OF NRIs |
| Home loans are granted close relatives of NRIson the basis of guarantee of NRI |
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Close relatives of NRIs like spouse/childen/parents eligible |
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Applicants should be resident Indians |
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Minimum monthly salary of NRI should be INR 15000 |
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Salary of applicant also considered if employed in government/public sector or reputed institutions |
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NRI should have minimum three years continuous service overseas and one year account relationship |
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Property should be registered in the name of relative |
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Eligibility |
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a) Maximum 20 times of gross salary
b) Maximum loan amount INR 20 lacs for construction/acquisition
c) Maximum INR 3 lacs for repair/renovation with 25% margin |
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Repayment Period – 15 years for construction or acquisition and 5 years for repair/renovation |
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