1

Please advise: for an NRI working in US applying for home loan in India, Bank is asking for employer letter, latest salary revision letter from employer and employer ID card etc.. but if NRI is an independent consultant, how do we produce these docs, where there is not an employer but only clients. Please help advise on this subject, can applicant self adress these letter/ docs etc...thanks

1

The documents asked are the standard documents requested for approving home loan.

Inform the Bank of your status as NRI. It would help if you show your NRE/NRO accounts and funds in them. Quite a few Banks go all the way to give a loan to NRI as they consider that repayments is less risky than someone in Indian salary.

Also showing them the US Bank Account statement for a period of year or so will also help you get the loan.

5
  • Thanks for the advise, could you suggest some examples of such banks that like you have mentioned that will provide loans for NRI more readily. Thanks for all your help! – user20335 Oct 5 '14 at 17:20
  • Go to any large Public Sector Bank or Large Private Banks, they have special NRI cell and red carpet waiting :) – Dheer Oct 5 '14 at 17:25
  • I am having H DFC , AXIS, ICICI, AN – user20335 Oct 5 '14 at 17:27
  • And SBI in order listed Hope I am on right track of choice - greatly appreciate ur comments thanks – user20335 Oct 5 '14 at 17:28
  • Yep anyone of these should welcome you. Good Luck :) – Dheer Oct 6 '14 at 14:50

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.