NRIs and OCIs can borrow ₹20 lakh to ₹10 crore from Indian banks for a home purchase, at up to 80% loan-to-value and floating rates of 8.50-9.25% (Q1 2026), repayable over 20-30 years. SBI offers the lowest rates (8.50-8.90%), followed by HDFC, ICICI and Axis Bank, each around 8.6-9.25%. Loans are disbursed only in Indian rupees, and EMIs must be paid from an NRE, NRO or FCNR account.
Quick answer: SBI, HDFC, ICICI and Axis Bank all offer NRI home loans, with SBI's 8.50-8.90% rate and 0.35% processing fee (capped at ₹10,000) the cheapest of the four, while HDFC promises the fastest processing at around 30 days. Loans go up to 80% of property value and are disbursed in INR only; EMIs come from an NRE, NRO or FCNR account, and principal repaid from an NRE account is fully repatriable, while NRO-account repayment is capped at USD 1 million a year. Required documents include a valid passport and visa, overseas employment proof, 3-6 months of bank statements and salary slips, Indian address proof, and a PAN card, plus the RERA registration certificate and builder's NOC once a unit is booked. Video KYC now covers most loan paperwork, but registering the property itself still needs physical presence or a Power of Attorney holder in India.
NRI Eligibility for Home Loans
Banks define NRI eligibility broadly: Indian citizens who reside outside India for work or business purposes (under FEMA). OCIs are also eligible. Foreign nationals (non-NRI, non-OCI) are not eligible for home loans from Indian banks.
Loan Parameters
| Parameter | Typical Range |
|---|---|
| Loan amount | ₹20 lakh to ₹10 crore |
| LTV (Loan-to-Value) | Up to 80% of property value |
| Tenure | Up to 20–30 years |
| Interest rate | 8.50–9.25% (floating, Q1 2026) |
| Currency | Indian Rupees only |
Top NRI Home Loan Products
SBI NRI Home Loan
- Rate: 8.50–8.90%
- Processing fee: 0.35% (max ₹10,000)
- Special feature: Repayment allowed from NRE/NRO/FCNR account
- Strength: Lowest rates; extensive branch network in India
HDFC NRI Home Loan
- Rate: 8.60–9.10%
- Processing fee: 0.5–1%
- Special feature: Online application with video KYC; relationship manager assigned
- Strength: Fastest processing for well-documented cases; 30-day disbursal claim
ICICI Bank NRI Home Loan
- Rate: 8.65–9.15%
- Processing fee: 0.5%
- Special feature: EMI remittance from overseas bank account (for NRE account holders)
- Strength: Strong NRI client base; dedicated NRI banking app
Axis Bank NRI Home Loan
- Rate: 8.70–9.25%
- Processing fee: 0.5%
- Special feature: Joint loan with resident Indian co-applicant increases eligibility
- Strength: Flexible income assessment for self-employed NRIs
Documents Required
Common documents:
- Passport (valid) and visa copy
- Overseas employment letter or business proof
- Last 3–6 months' overseas bank statements
- Last 3 months' salary slips (or business income proof)
- Indian address proof (any one: Aadhaar, voter ID, utility bill of India property)
- PAN card (mandatory for all financial transactions in India)
Property documents (after booking):
- Builder-Buyer Agreement (registered)
- RERA registration certificate of the project
- Title documents of land (for builder's verification)
- Builder's NOC for loan
Repayment Rules
- EMI must be remitted from NRE, NRO, or FCNR account in India
- Principal repayment from NRE account: fully repatriable
- Principal repayment from NRO account: subject to ₹1M/year repatriation limit
Power of Attorney for Loan Processing
Many banks now accept video conferencing in lieu of personal visit for signing loan documents. However, for property registration, physical presence or a PoA holder in India is mandatory. Your PoA holder can execute the mortgage agreement on your behalf.