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Wednesday, May 23, 2018
NRI Home Loans


NRI Home Loans



Key Highlights

  • Doha Bank offers you Loans for buying your home in India. You could acquire a self-contained flat in an existing or proposed co-operative society, in an apartment owners association or even an independent single-family or multi-family bungalow or row house.
  • Home Loans shall be extended for the purpose of following:
    • Purchase of readymade /residential property – New
    • Purchase of readymade /residential property – Resale
  • No loan shall be extended for investment in:
    • Agricultural land/plantation property or a farm house
    • Under construction property

Loan shall be extended in cities where Doha Bank has an office in India



Overview

With Doha Bank Home Loans, turning your dream home in India into a reality is convenient and easy.

Benefits

  • Attractive interest rates on a monthly reducing basis.
  • Choice from fixed and floating interest rates.
  • Convenient loan disbursement process.
  • Doorstep service in India till disbursement.
  • Insurance option to cover your home loans at attractive premium.


Eligibility


Age

  • You must be minimum 25 years old.
  • For NRI applicant, maximum age limit is 60 years or retirement age (whichever is earlier) at the time of loan maturity.

Residential status

  • Minimum length of service : 3 years in GCC locations and minimum 12 months with current employment (confirmed employment)

Tenure & Minimum Qualification

  • For Salaried- Maximum loan tenure up to 20 years and minimum loan tenure is 1 year.
  • Minimum qualification – Graduate/ Diploma/Professional/Post Graduate

Loan tenure shall be as follows :

Diploma (Courses are approved by AICTE, India) Holders shall be offered maximum loan tenure of 15 years (subject to eligibility criteria).

Graduates and above meeting all other eligibility criteria shall be offered a tenure of 20 years


Maximum Loan Amount


Loan Amount Maximum Funding*
Amount 20 lacs up to Rs 30 lacs 70% of the agreement value
Above 30 lacs to Rs.75 lacs 70% of the agreement value
Above Rs.75 lacs 70% of the agreement value

Subject to market value of the property and repayment capacity of the customer, as assessed by Doha Bank

This shall not include stamp duty, registration charges and any other documentation charges

Income

  • Minimum Salary: AED/QR-10,000 or KD-1000 or USD 3000 or equivalent (per month)
  • The Applicant’s/ Co-applicant’s or both incomes will be considered for eligibility. However, the Co-applicant has to be applicant’s immediate family member- spouse, parent or child. (Both incomes would be considered only if both are NRIs. If applicant is NRI and co-applicant is Resident Indian, clubbing will not be done).
  • Salary should be received on Monthly basis through direct bank credit.



Note: Credit at the sole discretion of Doha Bank and subject to guidelines issued by RBI/CBUAE (Central Bank of UAE) from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.

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Note: Doha Bank's retail, commercial and corporate lending products are granted at our sole discretion and are subject to the Bank's terms, conditions and acceptance.

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