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| NRI Loans
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Click here to download Query Form for NRI
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Sundaram Home Finance Ltd offers loans to Non-Resident Indians.
Schemes
Home Loans
Home Extension Loans
Home Improvement Loans
Land loans
Maximum Loan Amount :
- For Home Loans
Rs 1 crore or 85% of the cost of the property, whichever is less
- For Home Extension Loans
Rs 1 crore or 85% of the cost of the property, whichever is less
- For Home Improvement Loans
Rs.1 crore or 70% of the cost of the property, whichever is less
- For Land Loans
Rs.1 crore or 50% of the cost of land, whichever is less
- Loan Term:
Maximum of 10 years
- Interest Rates:
For interest rates, kindly check with your nearest Sundaram Home Finance Limited Branch
- Fees:
1% of the loan amount.
- Security:
Equitable Mortgage of the property financed
Terms And Conditions
- Own contribution, which is the cost of the dwelling unit financed, LESS the loan amount, can be met from direct remittances from abroad through normal banking channels, from the NRE account and/or NRO account and/or FCNR account in India.
- Fees, Pre-EMI Interest, Repayment of loan, which comprises principal and interest and other charges should be paid by remittances from abroad through normal banking channels, the NRE account and/or NRO account and/or FCNR account in India.
Documents Required For Processing
- Latest salary certificate in original
- A copy of the latest employment contract, wherever
applicable/available
- Last drawn wage certificate/slip
- Continuous Discharge Certificate for the past 3 years (if applicable)
- Copies of relevant pages in the passport (Name, Date of Birth,
Validity, Visa stamped on the passport)
Own Contribution Proof
- Copy of bank statements showing debits for payments made in favour of
the builder or withdrawals during the period of construction must be
provided as proof of own contribution met from the NRE account and/or NRO
account and/or FCNR account in India.
Other Requirements while Processing an Application for Loan from an
NRI
- Two local contact addresses with employment details and residence
phone numbers.
- Power of Attorney (Click here
for our format).
Disbursement
You can take disbursement of the loan after
- You have invested your own contribution in full (own contribution is
the total cost of the property less SHFL's loan).
- The property has been technically appraised,
- All legal documentation has been completed and
The loan will be disbursed in full or in suitable instalments taking into
account the requirement of funds and progress of construction, as assessed
by Sundaram Home and not necessarily according to the builder's agreement.
For more details contact us
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