Check your eligibility
What These Loans Fund
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Purchase of ready or under-constru...
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Purchase from a builder or in the...
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Registration and stamp duty at som...
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Construction on a plot already own...
Who Can Consider This Loan?
- Indian resident or NRI, generally aged 21 to 65 at loan maturity
- Salaried: stable employment, commonly two years total with one year current
- Self-employed: three years of business vintage with filed returns
- Property with clear, marketable title and approved plans
- Credit score materially affects both approval and the rate offered
- Total EMI obligations usually capped at 50 to 60% of net income
What May Not Be Funded?
- Agricultural land, plantation property and farmhouses
- Down payment, typically 20 to 25 per cent
- Processing, legal and technical charges
- Repayment from an ordinary foreign account without routing through NRE or NRO
- Tenures matching resident borrowers, which are generally longer
Always check the sanction letter before you commit.
Why Choose Wealth & Covers?
- Expert advice to choose the right plan
- Plans from leading loans companies
- Hassle-free process and documentation
- End-to-end support, including claim assistance
- Dedicated relationship manager
- Expert Guidance Personalised advice from experienced loans professionals.
- End-to-End Support From choosing the right plan to claim assistance, we are with you always.
- Claims Assistance Hassle-free claim support to ensure you get what you deserve.
- Transparent Process Clear information, easy documentation and a hassle-free experience.
Overview
Indian lenders offer home loans to non-residents for the purchase of residential property in India. The rates are close to resident rates, but tenures are typically shorter — often capped at fifteen or twenty years rather than thirty — and documentation is more involved.
Repayment must come from NRE or NRO accounts, or from rental income on the property. The loan is rupee-denominated, which means your EMI is fixed in rupees while your income is in another currency. If your home currency strengthens against the rupee, the EMI becomes cheaper in real terms; if it weakens, it becomes dearer.
Power of attorney is the practical detail that determines how smoothly this goes. Executing a properly drafted PoA in favour of someone in India, before you need it, removes most of the friction from documentation, registration and disbursal.
Who should consider it
Non-residents buying a home in India for eventual return, for family, or as an investment. Non-residents who prefer to borrow in India rather than remit the full purchase price.
Benefits
- Access to Indian home loan rates from abroad
- Purchase without remitting the full price at once
- Interest deductible against rental income where the property is let
- Repayment from NRE, NRO or rental income
- Loan continues unchanged on repatriation to India
- Rupee borrowing against a rupee asset, which is a natural hedge
What the loan funds, and what it does not
Read the right-hand column first. It is the one that decides how much you have to arrange yourself.
Usually funded
- Purchase of ready or under-construction residential property
- Purchase from a builder or in the resale market
- Registration and stamp duty at some lenders, within limits
- Construction on a plot already owned, at some lenders
Usually not funded
- Agricultural land, plantation property and farmhouses
- Down payment, typically 20 to 25 per cent
- Processing, legal and technical charges
- Repayment from an ordinary foreign account without routing through NRE or NRO
- Tenures matching resident borrowers, which are generally longer
Funding limits and the treatment of add-ons vary between lenders and move with the borrower profile. The sanction letter you receive is what governs — we will walk you through it before you sign.
How it works with us
- 1 Eligibility assessed before any application goes out Income, existing EMIs, credit profile and the property itself. Scattering applications across lenders damages your credit file for no benefit.
- 2 Compared on total cost across the full term Rate, processing fee, insurance bundling and prepayment terms together. Over twenty years, half a percentage point is a very large number.
- 3 Legal and technical due diligence Title search and valuation. This is also the stage that protects you, not just the lender — a title problem found now is a problem avoided.
- 4 Sanction, and reading it properly The sanction letter states the rate basis, reset frequency and every charge. We go through it with you before you sign.
- 5 Disbursal, and a plan for prepayment Funds released against the agreement or construction stage. We set out how prepayment would work, because it is the single biggest lever you hold.
Important considerations
The things a brochure tends to leave out. Read these before you decide.
- Execute a power of attorney before you need it. Documentation, registration and disbursal all move faster with a properly drafted PoA in place, and arranging one remotely mid-process is slow.
- The EMI is in rupees and your income is not. A depreciating rupee makes the EMI cheaper for you; an appreciating one makes it dearer. Borrowing in rupees against a rupee asset is a natural hedge, which is a point in favour of this structure.
- Tenures are shorter than for residents, so the EMI on the same loan is higher. Factor that into affordability rather than assuming resident terms.
- Non-residents cannot buy agricultural land, plantation property or farmhouses in India. That restriction sits in law, not in lender policy.
- Set up the repayment mandate at sanction. Servicing an Indian EMI from abroad without a standing instruction is a recurring administrative problem.
Documents required
- Identity proof — Aadhaar, PAN or passport
- Address proof
- Salaried: last three months of salary slips, Form 16 and appointment letter
- Self-employed: last three years of income tax returns with computation and financials
- Bank statements for the last six to twelve months
- Property documents — sale agreement, title deed, approved plan
- Property tax receipts and encumbrance certificate
- Existing loan statements, where you are servicing other EMIs
Frequently Asked Questions
Can a non-resident get an Indian home loan?
Yes, from most major Indian lenders, for residential property. Rates are close to resident rates, though tenures are typically capped at fifteen to twenty years rather than thirty and documentation is more involved.
How do I repay from abroad?
From an NRE or NRO account, or from rental income on the property. Setting up a standing instruction at sanction is worth doing — servicing an Indian EMI manually from another country becomes a monthly nuisance.
What about currency risk?
The EMI is fixed in rupees while your income is not. Since you are borrowing in rupees against a rupee-denominated asset, the structure is a reasonable natural hedge — but the monthly cost in your home currency will move with the exchange rate.
Do I need a power of attorney?
Not strictly, but it makes everything considerably easier. Documentation, registration and disbursal all involve steps in India, and a properly drafted PoA executed in advance removes most of the friction. Arranging one mid-process from abroad is slow.
Can I buy agricultural land?
No. Non-residents are not permitted to purchase agricultural land, plantation property or farmhouses in India. That is a legal restriction rather than a lender policy, and no lender can work around it.
Want a shortlist instead of a catalogue?
Tell us the situation and an advisor comes back with two or three options that actually fit — and names what each one gives up.