Loans in Rupees
We provides loan to NRIs against their balances in:
- NRE Accounts
- FCNR Accounts
- Rupee loans to be allowed to depositor/third party without any ceiling subject to usual margin requirements.
- The loan can be availed of by the account holder or by a third party.
- The loan will be sanctioned for the following purposes
When availed by account holder
- Personal purposes or carrying on business activities
- Direct investment in India on non-repatriation basis by way of contribution to the capital of Indian firms / companies
- Acquisition of flat / house in India for account holder's residential use
- Loans will be in terms of prevailing FEMA guidelines.
When availed by third party
Fund based and / or non-fund based facilities for personal purposes or for carrying on business activities.
The loan however cannot be utilized for the purpose of re-lending or for carrying on agriculture or plantation activities or for investment in real estate business.
Loans against NRO Accounts
- Loans are granted by us against your balances in NRO Account after maintenance of requisite margin.
- These loans may be availed only in India and by the Account Holder for personal requirement / business purpose.
- The loan however cannot be utilized for the purpose of re-lending or for carrying on agriculture or plantation activities or for investment in real estate business.