Car loan in india for nri

Can NRI person get a home loan to purchase property in India? How much cash can a NRI take to India? Can a NRI open a bank account in India? Some Indian banks provide car loans to NRIs and this includes Federal Bank Lt State Bank of India (SBI), State Bank of Travancore, etc.

Documents related to the loan application can be submitted in India, overseas, or through an online portal.

The tenure available in NRI Loans is of 5-years. The interest rate of NRI car loans is the same as a normal car loan in India. Finance shall not be a red signal when your dream car opens door for you. Car Loan for NRI Customers. Attractive interest rates, transparent processes and costs, minimal documentation, quick disbursals and expert guidance make HDFC Bank Home and Home Improvement Loans attractive for NRIs.

Generally a blood relative is what the banks want. For instance, interest rate for car loans from SBI is 10.

Apply Now for instant approval and faster processing of your car loan. Loan must be repaid before the guarantor reaches the age of 65. Applicant or borrower can be: Individual. In this way, the resident relative becomes borrower of the car loan whereas the NRI becomes the guarantor. NRIs staying abroad can now apply for a car loan in India for their family or for their personal use.

The car loans are specially designed considering the requirements of the NRIs. Indian citizens who reside abroad or have NRI status can apply for a car loan. Read on to know more about the eligibility, required documents, terms, and conditions to obtain a car loan. Following are the common eligibility criteria laid down by most of the banks.

The NRI must have an Indian resident as a guarantor or a co-applicant. The Equated Installment will be determined on the basis of the current rate of interest (EMI). Loan to be repaid within years from the date of original sale.

Kotak Mahindra Bank offers this loan to NRIs who have residential properties in India. This loan can be used for any kind of home renovation requirements including painting, decoration, waterproofing, construction, electrical work, etc. NEVER share these details to anyone.

Question: Hi, I am a Barbadian (West indies) passport holder and have had an OCI for close to yrs. I have been living in India , kerala since I was years old and I am now working as a doctor in kerala for the last months. Find Out How Much You Can Save. NRI are very much Eligible for car loans and all leading Private Banks - ICICI Bank, HDFC Bank, Axis Bank along with Nationalized Banks like - SBI, PNB too lends car loans for NRI.

Get a car loan to purchase a vehicle of your choice. Our auto loans are available to salaried employees, businessmen, professionals, corporates as well as NRIs and PIOs. We offer attractive interest rates on car loans with up to financing, making our loans. If you’re looking to get into the fast lane as soon as possible, HDFC Bank has come up with a car loan facility tailor-made for you. Through ZipDrive, customers can get the car loan amount disbursed instantly to car dealers through NetBanking anytime, anywhere.

The loan amount approved by the bank or NBFC depends on the current value of the car and the profile of the loan borrower. ICICI Bank is one of the top players in the private banking sector in India. For NRIs, these clauses are usually different.

The bank has a diverse range of loan products suitable for NRIs. It is also one of the very few banks in India that offers personal loans to NRI customers. Lakh upto 1 on-road price along with a host of benefits that include attractive interest rates, comfortable tenure, Axis eDGE Reward points, etc. Before applying for a car loan online, make sure to use the car loan calculator to find out your EMI. Loan schemes for NRIs include apart from the usual personal loans , home loans , loan against deposits, etc.

We have different schemes for different purposes. There are a few differences in the rate of interest and loan tenure. The rate of home loan interest is usually higher for an NRI as compared to an Indian resident.