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Documents Required for Availing Home Loan

1

Valid passport and visa documents for

the mandatory know your customer (KYC) exercise.

2

Permanent address proof in India.

3

Appointment letter, work experience

certificate, work permit and contract of employment from the current employer in the concerned country.

4

Salary pay-slips and supporting

statements of non-resident external (NRE) and non-resident ordinary (NRO) bank accounts.

5

Address proof from the current country

of residence, verified by the current employer (this can be supplied by mail as well), along with the income tax return statements from the concerned country.

6

A valid qualification certificate to pass

8

A General Power of Authority (GPA), duly

eligibility criteria.

Repayment of Home Loan An NRI can opt for various routes to make the repayment of their home loan EMIs, which must mandatorily be paid in Indian rupees via an NRE or NRO account:

> Transfer money from an overseas bank account through regular banking channels.

>Issue post-dated cheques or an Electronic Clearance Service (ECS) mandate from an NRE, NRO or Foreign Currency Non-Repatriable (FCNR) bank account.

> Pay from the rental income accrued from the property.

> Issue cheques for the EMI from a local relative’s bank account. The designated GPA holder must be present in person at the time of disbursement of the home loan, as his/ her signature is required by the bank in the absence of the main applicant.

notarized.

JUNE 2019 | WWW.NRINEWSTODAY.COM

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