NRI home loans — a 2026 primer.
Eligibility, rates, tenure, and the fastest path to pre-approval.
Eligibility Snapshot
Age 21 at loan start, 60-65 at maturity. Minimum 2 years of stable employment abroad (1 year for professionals). Minimum monthly income USD 3,000 or equivalent for salaried applicants. Business owners assessed on 2 years of ITR.
Loan Amount
Up to 80% of the property value for units below ₹5 Cr; 75% for higher-value units. Some banks cap 70% for penthouses and unlisted developers — not a concern for Puravankara projects.
Interest Rates (2026)
8.35% – 8.85% p.a. floating for NRIs at HDFC, ICICI, SBI, Axis and Kotak. LIC HFL slightly higher at 8.55-8.95%. Fixed rate options are available but rare and typically 60-100 bps higher.
Tenure
Up to 30 years, or till borrower turns 60-65 (varies by bank). Youngest applicant's age at loan maturity is the binding constraint.
Documentation
Passport, OCI card (if applicable), Indian PAN, latest 6 months salary slips, last 6 months bank statements (both India and abroad), employment contract, KYC, and property documents. Everything can be shared via secure bank portals or through the developer's home-loan desk.
Disbursal
Loans are disbursed in tranches linked to construction stages (CLP). At Purva City Kochi, we co-ordinate with your bank to ensure disbursals hit developer accounts on time — you don't need to manage this.
Prepayment
Floating rate NRI loans have zero prepayment penalty. Fixed-rate loans may attract 2-3% on the outstanding. Consider a home-loan overdraft (HDFC SmartFix / ICICI MaxGain) to park surplus and save interest.