Many of the Indian citizens work in other countries for short periods of time or some work for longer tenures as well. These individuals are referred to as Non-Resident Indians. As these individuals do not have permanent residency or citizenship of the country they are residing in, availing loans for any reason gets difficult. Or there may be a requirement of some extra cash for your loved ones who reside in India. In all these cases, an NRI personal loan may prove useful. Let’s see how an NRI can get a personal loan here in India along with the eligibility conditions and documentation required for the same.
ICICI Bank is one of the banks that offer personal loans to NRIs. Some of the features of the loan are:
South India Bank also provides personal loans to its NRI customers. Some of the features of the loan are:
State Bank of India allows loans for NRIs against deposits maintained by the individual. Features of the loan are:
HDFC Bank allows overdraft against Fixed Deposits for NRIs which can be used as a personal loan. Some of the features of the loan are:
If there is a requirement of co-applicant for the loan, then documents like ID proof, address, and income proof may be required for the co-applicant as well.