While structuring your NRI home loan, we take into account your payments, repayments and income streams to arrive at the option that best suits your needs. You can use this home loan to buy a plot of land for construction, build a house on already owned land, buy a new house/flat, to improve/extend your home, to purchase resale property or to pay off an existing home loan from another financial institution. We let you use the home loan depending on your requirement.
Tata Capital allows you to take an NRI home loan with a co-applicant. The co-applicant to take the home loan can be any family member like your spouse/parents/children/ siblings. Taking a home loan with a co-applicant is beneficial as his/her income will also be considered which will help to enhance your home loan eligibility.
|Account Type||Introductory Documents|
|NRE Account / NRO Account / FCNR Account||
|Mariners A/c (NRE/NROA/c)||
Mariners Declaration :- CDC copy not mandatory for crew members employed with cruise liners In such a case, self attested visa copy is mandatory
|Proof of identity & residence:||
Tata Capital currently operates within 55 cities across the country and has a strong
presence here. Whichever part of the globe you’re in, if you require any assistance
on acquiring a home loan, then you can either: Apply Online
Call on 1800-209-6060
Yes, we provide assistance in finding a property of your choice. To find your dream home, you can simply log on to (link) a comprehensive real estate search portal with over 15,000+ properties to choose from. The portal is committed to simplifying and enhancing every customer's home hunting experience. There are also Tata Capital Approved properties to make your search easier and more defined.
Yes, we can offer a joint income loan by adding income earned by the Co-applicant in Indian Rupees. However the Co-applicant has to be your immediate family member - Spouse, Parents or Children.
A PIO card is issued to a ‘Person of Indian Origin’, by the ‘Indian mission’ (Embassy of India / High Commission of India / Indian Consulate) in a foreign country. It extends to the cardholder certain facilities, as prescribed by the Ministry of External Affairs, and is valid for a period of 15 years.
No. Currently, we do not have an international office or Service Associates.
You need not be present in India to avail of your Home Loan. In case you are posted aboard at the time of submission of the loan application and disbursement of the loan, you can avail the loan by appointing a Power of Attorney as per Tata Capital's format. Your Power of Attorney holder can apply and carry out the formalities on your behalf.
Security of the loan would generally be security interest on the property being financed by us and/or any other collateral/interim security as may be required by us.
It is extremely important for you to ensure that the title to the property is clear, marketable and free from encumbrance. There should not be any existing mortgage, loan or litigation, which is likely to adversely affect the title to the property.
We request you to please keep copies of all the documents submitted during the loan processing, as the originals will be in Tata Capital's custody till the full repayment of the loan.
Yes. It would be desirable to appoint any of your relatives as the Power of Attorney (POA) holder in India. The POA should be a resident of the city where you wish to apply for your Home Loan. The POA should be executed as per the draft provided by Tata Capital.
In case the Co-applicant is not present in India to complete the loan formalities, the Co- applicant should also draw a Power of Attorney favouring any relative in India.
Own Contribution (margin money) is the total cost of the property, less Tata Capital’s loan. It shall be paid by the customer by remittances from outside India through normal banking channels or out of funds in his Non-Resident External (NRE) /Foreign Currency Non-Resident (FCNR)/Non-Resident Ordinary (NRO) account in India. Such payments cannot be made either by traveller's cheque or by foreign currency notes or by any other mode other than those specifically mentioned above. Own Contribution must be made first, to enable Tata Capital to disburse the loan amount.
Your loan will be disbursed after you have selected your property, applied for your Home Loan, submitted the requisite income and property documents, the property is technically and legally sound and you have paid your Own Contribution towards the purchase of the property. The disbursement would be in Indian Rupees and made at the Tata Capital branch in India, as specified by you.
The cheque for the loan amount is drawn in favour of the developer or the seller (in case of a resale property) as the case may be. In case of an under-construction project, Tata Capital disburses the loan amounts proportionate to the stage of construction.
When the property is under-construction, Tata Capital disburses the loan amounts proportionate to the stage of construction. In such a case, the amount of interest payable on the disbursed loan amount is called the Pre-EMI interest. You can start paying interest on the portion of the loan disbursed until such time that the project is ready for possession. This interest is called Pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of EMI.
To help customers save on pre-EMI interest, we have introduced a special facility of Tranche Based EMI.
For under-construction properties, customers can choose the instalments they wish to pay till the time the property is ready for possession. Anything paid over and above the interest by the customer goes towards principal repayment.
The customer benefits by starting EMI early and hence repays the loan faster.
The instalment of loan, interest and other charges, if any, shall be paid by the customer by remittances from outside India through normal banking channels or out of the funds in his Non-Resident External (NRE) / Foreign Currency Non-Resident (FCNR) / Non-Resident Non- Repatriable (NRNR) / Non-Resident Ordinary (NRO) / Non-Resident Special Rupee (NRSR) account in India, or out of rental income derived from renting out the property acquired by utilization of the loan.
Yes, you can repay the loan ahead of schedule by making lump sum payments towards part or full prepayment, subject to the applicable prepayment charges. You can do so by remittances from abroad through normal banking channels, your Non-Resident (External) Account and/or Non-Resident (Ordinary) Account n India. We also offer a free-of-charge facility to accelerate your loan repayment called ‘Accelerated Repayment Scheme’. This option provides you the flexibility to increase the EMIs every year in proportion to the increase in your income which will result in you repaying the loan much faster. Every time you want to increase your EMI you need to submit documents like salary slips and bank statements and initiate a request with us.
Yes. As per current guidelines of the Reserve Bank of India a Person of Indian Origin holding foreign passports are eligible for loans with Tata Capital.
Property insurance is not compulsory. There are certain schemes in which property insurance is compulsory but not otherwise.
However it is advisable that you insure your property for fire and other appropriate hazards during the pendency of the loan. If you do, you will have to produce evidence thereof to Tata Capital, each year and/or whenever called upon to do so. Tata Capital should be the beneficiary of the insurance policy.
Repayment of the principal commences from the month following the month in which you avail full disbursement of your loan. Pending final disbursement, you pay interest on the portion of the loan disbursed. This interest is called pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of EMI.
In the case of under construction properties, Tata Capital also offers you a unique ‘Tranching’ facility wherein you can choose the installments you wish to pay till the time the property is ready for possession. Any amount over and above the interest which is paid by you goes towards principal repayment, thus helping you repay the loan faster. This is especially useful in case your disbursements are likely to be spread over a longer period of time.
Once we receive your request for disbursement, we will disburse the loan in full or in instalments,. In case of an under construction property, we will disburse your loan in instalments based on the progress of construction, as assessed by us and not necessarily according to the developer’s agreement. You are advised in your own interest to enter into an agreement with the developer wherein the payments are linked to the construction work and not pre-defined on a time-based schedule.
Yes, you can apply for a loan to us for repaying a Home Loan availed by you from another Bank or Housing Finance Company.
A person resident outside India who is a citizen of India or a person outside India who is of Indian origin is an NRI.
The definition of a person resident outside India is defined under section 2(w) of Foreign Exchange Management Act, 1999 is as under:
Person resident outside India means, a person who is not resident in India
A person shall be deemed to be a person not resident in India in the following cases:
The definition of a Person of Indian Origin (PIO) is defined under section 2(b) of the Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations, 2000 and under section 2(xii) of the Foreign Exchange Management (Deposit) Regulations, 2000 as given under:
A PIO means a citizen of any country other than Bangladesh or Pakistan, if
A PIO for the purpose of acquiring immovable property in India as given under:
A ‘Person of Indian origin’ means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who
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These publications are brought to you by Jones Lang LaSalle Residential Private Limited “JLL” . The information is intended as a guide only and does not constitute advice. It does not constitute any offer or part of any contract for sale. All details are approximate and have not been independently verified. All commercial terms are quoted by developers, and are subject to negotiation. All forecasts and projections are assumptions made to the best of our knowledge based on the current market scenario. They are subject to change according to market conditions going forward.
All information regarding the various quoted options are provided by the developer and deemed true. While such information has been prepared in good faith and with due care, no representations or warranties are made (express or implied) as to the accuracy, currency, completeness, suitability or otherwise of such information. Tata Capital Housing Finance Limited does not take on any liability or responsibility for decisions made on the basis of information provided in this document. Tata Capital Housing Finance Limited, its officers, and employees shall not be liable for any loss or damage arising directly or indirectly from or connected in any way with any use of or reliance on such information.