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Back to Top of Index Question-22: What are the rates of interest charged on such loans and what are the regulations regarding their repayments ?

April 26, 2017charged index Loans rates regulations repayments

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Back to Top of Index Question-22: What are the rates of interest charged on such loans and what are the regulations regarding their repayments ?

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Loans against NRO/NRE accunts will be charged interest at rates applicable to resident accounts. Repayment of loans will have to be made either by adjustsment of the deposits or by fresh remittances from abroad, The loan raised against NRE deposits can also be repaid out of NRO funds but in such cases, the interest would be charged at commercial rate as in force from time to time.