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Key Features of NRI Home Loans
* T&Cs. Provisional sanction is subject to verification and approval of information and documents submitted to the Bank.
SECURE AN NRI HOME LOAN IN 5 SIMPLE STEPS
Step 1
Enter your basic details and income details
Step 2
Review and accept the offer
Step 3
Pay the Processing Fee
Step 4
Upload your KYC documents and income documents
Step 5
Download the provisional sanction letter
TnC *This is only a provisional offer, in principle approval will only be after loan application is assessed by our credit manager.
Eligibility Checklist
Criteria |
Details |
|---|---|
Age |
Minimum: 21 years Maximum: 65 years or retirement age at loan maturity |
Eligible profiles |
Salaried: Minimum 1 year of employment overseas Self-employed: Minimum 3 years in current business overseas |
Tenure |
Home Loan: 30 years Home Improvement Loan: 15 years Land Loan: 20 years |
Minimum Income |
Country/ Type of employment |
|
Merchant Navy – USD 24,000 per annum |
Documents Checklist
Type of document |
Salaried |
Self-employed |
|---|---|---|
Application form with passport size photo |
Y |
Y |
KYC documents: - Identity proof: Passport - NRI status proof: Visa/ Residence Permit/ OCI Card - Communication address proof (either Indian or overseas) - PAN (For NRIs: PAN is mandatory, For OCIs: either PAN or Form 60) |
Y |
Y |
Income proof: Latest salary slip for the past month or salary certificate |
Y |
N |
Income proof: Overseas bank statements of the last 3 months with salary credit |
Y |
N |
Business proof: - 2 years audited Profit and Loss Statements, IT returns - Business Incorporation documents - Overseas operative Bank Account statements of the last <6> months - Office address, list of Directors - List of Directors and the shareholding pattern (if customer is a director in his own company) |
N |
Y |
Overseas Credit Bureau Reports (not older than 45 days, for specific countries only) |
Y |
Y |
For Balance Transfer: Last 1 year's Bank Statement with EMI details |
Y |
Y |
NRI Home Loan FAQ's
You must be in India to submit a signed form and documents in person for offline application. For an online application, you can upload scanned copies of your documents. ICICI Bank offers a digital platform, Express Home Loan (EHL), where you can apply online as a new or existing customer. Click here to start your application process.
Yes, a PIO can also apply for a Home Loan in India.
Detailed overseas credit reports are mandatory for customers from the USA, the UK, Hong Kong, Singapore, the UAE, Kuwait, Bahrain, Qatar, Saudi Arabia, Canada, Australia, New Zealand, Ireland, Oman, South Africa and Malaysia. For other countries, it is not mandatory.
We have an exclusive website which features projects across India. These properties have already gone through legal and technical due diligence by ICICI Bank so you can be assured of their credibility. You can browse for properties and find the one that fits your preference. You can check ICICI Bank approved projects on the website - home.icicibank.com
Yes, you can avail disbursement of your Home Loan without coming to India by executing a POA overseas. Take a printout of the ICICI Bank POA format, get it attested by the Indian Embassy/ Consulate, a Court Magistrate/ Judge or an Authorised Official of an overseas branch of a Scheduled Commercial Bank registered in India (including ICICI Bank) or a public notary officer (not available for Gulf countries) and send it back to India where it will be attested again and then it will be submitted at the Branch.
Yes, a Merchant Navy Officer or a Seafarer can apply for a Home Loan in India.
If your Indian address is selected as the communication address, any one of the following documents will be valid:
- Indian Passport
- Driving Licence
- Aadhaar Card
- Voter Identity Card issued by the Election Commission of India
- National Rural Employment Guarantee Act (NREGA) Job Card signed by the State Government Officer
- Letter from the National Population Register containing details of the name and address.
If overseas address is selected as the communication address, any one of the following will be valid:
- Foreign Passport with OCI Card
- Driving Licence
Note: For a Merchant Navy Officer or a Seafarer, Indian address proof is mandatory. Overseas address proof is not required.
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