NRI PERSONAL LOAN

For Indian Citizens residing in Foreign Countries NRI Personal Loan can be the best source of loan for them. Almost all the major private and public banks offer NRI Personal Loans. These kind of loan is taken mostly in case of urgency and if the applicant is falling short of money for buying a costly asset or any durable product.
NRI Personal Loan falls under Secured Loan where the applicant has to give collateral as security. Along with that the applicant should submit requisite documents while applying for the loan.

DOCUMENTS REQUIRED ARE:-

♦  Copy of Passport or Visa
♦  Salary Certificate specifying the date of joining along with salary and designation details
♦  Both Domestic and International Bank Statements of last 6 months ( NRE/ NRO/ FCNR)
♦  A copy of Appointment letter as well as the contract copy.
♦  If the applicant is not available in India at the time of applying for the loan then a General Power     of Attorney duly attested by the Indian Consulate in the NRI’s resident country to be submitted. If     he is available in India then the General Power of Attorney can be locally notorized.
♦  In case the the applicant is doing a job in Middle East then he need to submit a copy of labour     contract card / identity card countersigned by respective consulate.

Banks who offer NRI Personal Loan in India are :-

♦  State Bank Of India
♦  ICICI Bank
♦  Kotak Mahindra Bank
♦  Punjab National Bank
♦  Axis Bank
♦  Citi Bank



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