What is NRI Home Loan Interest Rate in India?

My brother being an NRI availed an NRI home loan from HSBC Bank India to buy a flat in Bangalore. So I can share the NRI home loan interest rate that he was charged.

As my brother availed NRI home loan from HSBC, I will provide the ROI of HSBC in this response. 

However, it's essential to check with various banks and financial institutions in India to get the most accurate and up-to-date information on NRI home loan interest rates

What is the Home Loan for NRI Interest Rate?

HSBC NRI house loan interest rates starts at just 8.45% p.a. My brother told me about the 2 home loans offered by HSBC Bank for NRI’s; NRI Loan Against Property (LAP), and NRI Home Loan. 

I’ll be happy to share the interest rates of each of these 2 as mentioned by my brother;

The following requirements must be met to be eligible for an HSBC NRI Home Loan/LAP:

• To be qualified, NRI applicants need to have a local contact person or co-applicant.

• Minimum annual net income (salaried) of INR 500,000.

• Age requirement (in years): 21

• Maximum age (in years) at which debts mature 60 (public limited/government personnel) or 58 (salaried)

• INR 300,000 is the minimum loan amount (for NRI home loans).

• The maximum loan amount (for NRI LAP) is INR 400,000,000.

• Maximum term of 25 years

I hope this helps!

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