Can NRI Get Loan for Commercial Property?

Yes an NRI (Non‑Resident Indian) or OCI individual can avail a NRI commercial property loan in India from ICICI Bank, under its designated NRI Commercial Property Purchase Loan program. For instance, ICICI Bank offers this loan to NRIs wanting to buy office or commercial premises, either for self-use or business purposes. 

What are the Features of ICICI Bank Commercial Property Loans for NRI in India?

1. Borrowing up to 100% of the sanctioned amount through a top‑up facility, subject to eligibility.

2. Flexible loan tenure, typically up to 15 years.

3. Repo‑linked attractive interest rates tailored for NRI borrowers.

4. Balance transfer facility, allowing you to switch an existing loan to ICICI if your current lender is another bank.

Required documents include:

1. Loan application form with passport-sized photo

2. Valid Passport, Visa/OCI Card, PAN (or Form 60 for OCIs)

3. Overseas and Indian address proofs

4. Income proof: salary slips, overseas bank statements

5. Overseas credit bureau report (required for applicants from certain countries; must be under 45 days old)

6. For self-employed borrowers: audited P&L, incorporation documents, overseas bank statements, etc.

7. Existing loan holders: last year’s bank statements or loan EMI details, if applying for balance transfer or top-up.

Eligible applicants include salaried and self‑employed NRIs/OCIs. Repayment is routed via your NRE/NRO account. A co-applicant resident or non‑resident who is a blood relative (spouse, sibling, child, etc.) can be included, and all property owners must be applicants. I hope this helps!

Get Assistance in Availing of NRI Loans Via NoBroker NRI Services Now!

Yes an NRI (Non‑Resident Indian) or OCI individual can avail a NRI commercial property loan in India from ICICI Bank, under its designated NRI Commercial Property Purchase Loan program. For instance, ICICI Bank offers this loan to NRIs wanting to buy office or commercial premises, either for self-use or business purposes. 

What are the Features of ICICI Bank Commercial Property Loans for NRI in India?

• Borrowing up to 100% of the sanctioned amount through a top‑up facility, subject to eligibility.

• Flexible loan tenure, typically up to 15 years.

• Repo‑linked attractive interest rates tailored for NRI borrowers.

• Balance transfer facility, allowing you to switch an existing loan to ICICI if your current lender is another bank.

Required documents include:

• Loan application form with passport-sized photo

• Valid Passport, Visa/OCI Card, PAN (or Form 60 for OCIs)

• Overseas and Indian address proofs

• Income proof: salary slips, overseas bank statements

• Overseas credit bureau report (required for applicants from certain countries; must be under 45 days old)

• For self-employed borrowers: audited P&L, incorporation documents, overseas bank statements, etc.

• Existing loan holders: last year’s bank statements or loan EMI details, if applying for balance transfer or top-up.

Eligible applicants include salaried and self‑employed NRIs/OCIs. Repayment is routed via your NRE/NRO account. A co-applicant resident or non‑resident who is a blood relative (spouse, sibling, child, etc.) can be included, and all property owners must be applicants. I hope this helps!

An Indian citizen can apply for a loan anytime they want, but things can get a bit complicated for NRIs. I used to believe that an NRI commercial property loan in India was not possible, but I was wrong. They can apply for it. They will just need to showcase more documents than an Indian citizen. If you are looking for an answer to the same query, this answer will help you.

How to get commercial property loan from HDFC for NRI?

A commercial loan is a type of loan designed for the commercial purchase of buildings or plots. Such loans are mainly used to buy office spaces, but at no cost, they can be used to buy residential units. If you have the query-can NRI get loan for commercial property, let me tell you yes, they can. Different banks have set different criteria for it. As far as I know, the eligibility to avail of a home loan at HDFC is the same for NRIs as it is for Indian residents. 

Self-employed professionals and non-professionals can apply for a commercial property loan in HDFC. All they will need is a stable income. The documents that are required to be furnished are-

• Identity proof- Passport/ PAN card/ Voter Card/ Aadhar Card and more

• Residential proof

• Proof of income

• Income tax return

• Last 3 years' balance sheet

• Last 6 month’s current account statement

• Latest Form 26AS

• List of directors and shareholders

• Partnership deep

• Details of ongoing loans

• Passport size photos

• Cheque in favour of HDFC for the processing fee

• Title deed and more if needed

These documents are required to obtain commercial property loans for NRI in India. If you have any further queries, do discuss them with the bank officials. 

I hope this clarifies every doubt regarding the NRI commercial property loan in India.