Can authorised dealers grant loans to NRIs for acquisition of a flat/house for residential purposes?
Authorised dealers have been granted permission to grant loans to NRI’s for acquisition of house/flat for self-occupation on their return to India subject to certain conditions. Repayment of the loan should be made within a period not exceeding 15 years out of inward remittance through banking channels or out of funds held in the investors’ NRE/FCNR/NRO accounts. • Can authorised dealers grant housing loan to NRI’s where he/she is a principal borrower with his/her resident close relative as a co-applicant / guarantor or where the land is owned jointly by such NRI borrower with his resident close relative? Yes. Such housing loans availed in rupees can also be repaid by the close relatives in India of the borrower.
Authorised dealers have been granted permission to grant loans to NRI’s for acquisition of house/flat for self-occupation on their return to India subject to certain conditions. Repayment of the loan should be made within a period not exceeding 15 years out of inward remittance through banking channels or out of funds held in the investors’ NRE/FCNR/NRO accounts. • Can authorised dealers grant housing loan to NRI’s where he is a principal borrower with his resident close relative as a co-applicant / guarantor or where the land is owned jointly by such NRI borrower with his resident close relative? Yes. Such housing loans availed in rupees can also be repaid by the close relatives in India of the borrower.
Authorised dealers have been granted permission to grant loans to NRI’s for acquisition of house/flat for self-occupation on their return to India subject to certain conditions. Repayment of the loan should be made within a period not exceeding 15 years out of inward remittance through banking channels or out of funds held in the investors’ NRE/FCNR/NRO accounts.
Related Questions
- Can authorised dealer grant loans to NRIs for acquisition of a flat / house for residential purposes ?
- Can authorised dealers grant loans to NRIs for acquisition of a flat/house for residential purposes?
- Can authorised dealer grant loans to NRIs for acquisition of a flat/house for residential purposes?
