Top Loan Options for NRIs

When it comes to taking out a loan, NRIs have a few options available to them. However, not all loans are created equal. There are a few things that NRIs should keep in mind when shopping for a loan, such as the interest rate, repayment terms, and fees. By keeping these factors in mind, NRIs can find the best loan for their needs.

Can nri take loan for individual?

A resident indian or a company registered in india can avail loan from an nri on repatriable or non- repatriable basis. 2. The foreign exchange management (borrowing and lending in rupees) regulations of 2000, as amended.

When an nri gives loan to a resident the maximum tenure of the loan can be?

The maximum length of the loan is three years. The interest rate for such a loan is set. Nri’s cannot charge any rate of interest. The interest rate should not be more than 2% higher than the bank rate in effect on the day the loan is granted.

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