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Loans from India available to
NRIs
Today there are a lot
of loans available to Non Resident Indians (NRIs),
People of India Origin (PIOs) and Overseas
Citizens of India (OCIs). The past few months
have seen a large scale of people lose their jobs
due to a menace called recession. Our NRIs were no
different than the rest. Many of them have
lost their jobs and it had been quite difficult to
manage life in a far off land without getting any
kind of help from the near and dear ones. It is
very natural that these NRIs would have needed
loans or need loans now. In order to make their
life easier the Government of India has come up
with various schemes to help them.
A Non Residential
Indian or an NRI is a person who is residing
outside the Indian Territory and is pursuing a
career somewhere in the world. The only problem is
that they have to pay a high rate of interest.
Housing loans, debt
consolidation loans, car or automobile loans and mortgage loans
are the kind of loans available in the market as
of now. Even secured and unsecured loans are
available quite easily all you need is to simply
walk into a bank branch and sign a few papers as
most of the banks have associates in almost every
country now days.
India loans available
to NRIs are no different than the loans available
to a Resident Indian. However there a few
additions made by the Reserve Bank of India like:
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In addition to this
the RBI states that NRIs who have some kind of
property in India are eligible to get a loan
(Some exceptions are there).
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NRIs
with a minimum regular monthly income of
Rs.10000 or $2000 are eligible to get a loan.
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The repayment of
loan is between a span of 10 to 15 years.
Needless to say that an NRI needs to pay from
either an NRO or an NRE account.
Remember there are
many financial organizations which are also
offering Indian loans to NRIs for various purposes. Beware of them as they may not
be the right ones. Do not get duped in the name
loans. Think logically as you are not residing
India anymore and do not let anyone to take you
for a ride. It is recommended that you go for
centralized bank loans over any other money
spinning offers.
Before availing any
of these loans make sure that you have researched
well on them. For this you can log into the net
and get all the information on the different
websites of the Indian banks. You can get a fair
idea from this investigation that what kind of a
loan best suits your requirement and then you can
go ahead with your plans accordingly. To add to
this what can be said is that an online form
filling is better than all the paper work that
follows a loan. It is hassle free and it is
advised that you opt for one. Don’t forget that it
is convenient as well.
In other words that
can be said that there is always a possibility of
these NRIs coming back and resettling in India
once again. That is why the Indian Government
encourages any kind of NRI investment. On top of
it the foreign exchange that goes into the central
exchequer makes it more lucrative. In simple words
what can be said is that these loans available to
NRIs are a boon for all of them.
We at NriInvestIndia.com can help you compare
rates & get the best
loans from India's top banks at best
possible interest rates, that are not only cheap but are
also affordable. If you are
interested in applying for any kind of Indian loan,
then please feel free to email us
directly at:
Info@NriInvestIndia.com
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