Get a NRI loan to buy property back in India
People living in UK can take a NRI home loan to buy flat, plots, house or do construction back in India.
Although the loan rates do not differ much than the rates available to others living in India, they are sanctioned for much shorter period of time. NRI can only receive 85% percent of of the property price. Also the maximum loan amount depend on the income of applicant and capability to repay on time. Normally a NRI can get the loan amount equal to 36 times his monthly gross income.To read more..
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