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What is the mode of payment for NRI home loans?

April 26, 2017home loans mode NRI payment

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What is the mode of payment for NRI home loans?

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The loan towards the home has to be paid upfront for the entire tenure of the loan by way of direct remittances from abroad through normal banking channels or from accounts that are allowed by RBI. Currently, payments are done through NRO, NRE, NRNR and FCNR accounts. These accounts change on the basis of RBI permissions to each HFC.