What are the documents required for obtaining NRI Home Loans?
NRIs are required to submit additional documents than is normally required for a resident Indian. a) A copy of the passport b) A copy of the works contract (also sometimes referred to as the contract card/labor card) c)The power of attorney (POA). The POA is required because the borrower is not based in India and in such a scenario, the HFC would need a representative ‘in lieu of’ the NRI to deal with as required.
NRIs are required to submit additional documents than is normally required for a resident Indian. a) A copy of the passport b) A copy of the works contract (also sometimes referred to as the contract card/labor card) c) The power of attorney (POA). The POA is required because the borrower is not based in India and in such a scenario; the HFC would need a representative ‘in lieu of’ the NRI to deal with as required.
