Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>Avail</strong> <strong>NRI</strong> <strong>Loans</strong> - Actualize Your Dreams<br />
To avail <strong>NRI</strong> loans person has to fulfill <strong>NRI</strong> Loan Eligibility criteria which differs from one<br />
organization to another. Firstly to avail a <strong>NRI</strong> loan a person should be a graduate.<br />
Secondly <strong>NRI</strong> should be earning a minimum of 2,000 US dollar as monthly income. This criterion<br />
differs based on organization or bank from where you are taking loan. Usually in <strong>NRI</strong> Home<br />
Loan, the loan amount does not exceed 85 per cent of the cost of property. This is applicable<br />
only to <strong>NRI</strong>s living abroad and not India residents.<br />
Rupee Zone is one such financial organization who helps <strong>NRI</strong>s to get appropriate <strong>NRI</strong> <strong>Loans</strong> in<br />
India based on their needs and requirements. The best part of these <strong>NRI</strong> <strong>Loans</strong> is that the loan<br />
amount is released through a convenient method. Some of the organization prefers to do it by<br />
the way of demand loan while others opt for the exceptional method of overdraft. Both these<br />
methods are convenient it depends on borrower's choice.<br />
In demand loan method, the whole loan amount is transferred directly to the mentioned<br />
account of the <strong>NRI</strong> applicant by the means of demand draft or pay order. In other method<br />
borrower has to open a current account and then can withdraw the desired amount by the<br />
means of cheques. Both these methods are reliable and completely safe.<br />
Now let us discuss repayment process for <strong>NRI</strong>s. According to the general rule the resident of<br />
India can easily repay the loan amount from his savings account but <strong>NRI</strong>s cannot do this. All the<br />
<strong>NRI</strong>s need to pay his monthly installments through his non-resident-ordinary (NRO) or non-
esident-external (NRE) account. An Indian resident can repay the loan in the span 20 years<br />
whereas an <strong>NRI</strong> has to repay the loan amount within 15 years.<br />
The best part of <strong>NRI</strong> <strong>Loans</strong> is that <strong>NRI</strong>s can avail different type of loans like <strong>NRI</strong> Home <strong>Loans</strong>, <strong>NRI</strong><br />
Car Loan, <strong>NRI</strong> Loan against property and <strong>NRI</strong> Personal Loan.<br />
As we all know loan amount is given out on repayment capacity. Moreover if you are <strong>NRI</strong><br />
proper calculation is made based on your savings and credit history, monthly and annual<br />
income, work experience, source of income, qualifications, age, number of dependents and<br />
some more crucial factors. You will also have to give something as security it can be property or<br />
anything worthwhile. Also all your original documents would be needed for the verification.<br />
[Source: http://www.sooperarticles.com/finance-articles/loans-articles/avail-nri-loansactualize-your-dreams-746060.html]