What’s in store for you
Types of Home Loans For NRI in United Kingdom
Home Loans NRI Interest Rates
All rates are benchmarked to Policy Repo Rate. Current applicable Repo Rate = 6.50%
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Special Interest Rates
*HDFC BANK does not source any Home Loan business from any Lending Service Providers (LSPs).
Benefits & Features
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NRI Home Loans
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Loan Benefits
More About Home Loans For NRI in United Kingdom
HDFC Bank's Home Loans for UK NRIs offer attractive interest rates, flexible repayment options, easy documentation, and personalised customer support. Whether you're purchasing a property from private developers or Development Authorities, we have tailored solutions to suit your needs.
By availing HDFC Bank's Home Loans for UK NRIs, you can enjoy end-to-end digital processes, customised repayment options, easy documentation, and round-the-clock assistance. We make your journey of owning a property in India seamless and convenient.
Applying for a Home Loan with HDFC Bank is simple. Visit our website or contact our customer support to begin the application process. Our experts will guide you through the documentation and approval process.
Specially designed loans to Agriculturists, Planters, Horticulturists, Dairy Farmers, Fish Farmers for purchasing an under construction / new / existing residential property in the rural and urban areas.
*All co-applicants need not be co-owners. But all co-owners need to be co-applicants to the loans. Generally, co-applicants are close family members.
| Maximum Funding** | |
|---|---|
| Loans up to and including ₹30 lakh | 90% of the property cost |
| Loans from ₹30.01 lakh to ₹75 lakh | 80% of the property cost |
| Loans above ₹75 lakh | 75% of the property cost |
**Subject to market value of the property and repayment capacity of the customer, as assessed by HDFC Bank.
Rates Offered
| Rates Offered to Customer (Past Quarter) | ||||||
|---|---|---|---|---|---|---|
| Segment | IRR | APR | ||||
| Min | Max | Avg. | Min | Max | Avg. | |
| HOUSING | 8.35 | 12.5 | 8.77 | 8.35 | 12.5 | 8.77 |
| NON - HOUSING* | 8.4 | 13.3 | 9.85 | 8.4 | 13.3 | 9.85 |
| *NON - HOUSING = LAP(EQUITY), NON-RESIDENTIAL PREMISES LOAN & INSURANCE PREMIUM FUNDING | ||||||
- Security - Security of the loan would generally be security interest on the property being financed and/or any other collateral/interim security as may be required by HDFC Bank.
- Other Conditions - All the information contained herein above is for awareness and customer convenience and is intended to only act as an indicative guide about HDFC Bank’s products and services. For detailed information about HDFC Bank’s products and services kindly visit the nearest HDFC Bank branch.
- Click here for the Most Important Terms and Conditions pertaining to your loan.
** Includes Doctor, Lawyer, Chartered Accountant, Architect, Consultant, Engineer, Company Secretary, Trader, Commission Agent, Contractor etc.
Through its many options for residential plot financing for NRIs, the bank empowers NRIs to turn their visions into reality. Loan eligibility is primarily dependent on income and repaying capacity. Other important factors include the customer’s profile, age at loan maturity, age of property at loan maturity, investment and savings history etc.
You can apply individually or jointly for Home Loans. All proposed owners of the property will have to be co-applicants. However, all co-applicants need not be co-owners. Co-applicants can be family members only. An NRI/OCI/PIO above the age of 18 years up to 60 years who is of sound mind and is not disqualified from contracting by any law can apply for UK NRI Home Loan.
Frequently Asked Questions
Yes, HDFC Bank offers Home Loans for UK NRIs. You can fulfill your dream of owning a property in India hassle-free.
Yes, NRIs are eligible for tax benefits on Home Loans as per Indian tax laws. Consult with our experts to understand the specific benefits that apply to you.
The duration of an NRI Home Loan can range from 1 year up to 30 years, depending on your repayment capacity and other factors.
A person resident outside India who is a citizen of India or a person outside India who is of Indian origin is an NRI (Non-resident Indian).
The definition of a person resident outside India is defined under section 2(w) of Foreign Exchange Management Act, 1999 is as under:
Person resident outside India means, a person who is not resident in India.
A person shall be deemed to be a person not resident in India in the following cases:
When the person stays in India for less than or up to 182 days during the preceding financial year
When a person who has gone out of India or who stays outside India, in either case
For or on taking up employment outside India, or
For carrying on outside India a business or vocation outside India, or
For any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period
You can apply for housing loans at any time once you have decided to purchase or construct a property, even if you have not selected the property or the construction has not commenced. You can even apply for a home loan whilst you are working abroad, to plan for your return to India in future.
In the event of you relocating back to India, HDFC Bank reassesses the repayment capacity of the applicant(s) based on Resident status and a revised repayment schedule is worked out. The new rate of interest will be as per the prevailing applicable rate of Resident Indian loans (for that specific loan product). This revised rate of interest would be applicable on the outstanding balance being converted. A letter is given to the customer confirming the change of status.
A photocopy of the PIO card or
A photocopy of current passport indicating birthplace as 'India'
A photocopy of Indian passport, if held by the individual earlier
A photocopy of parent’s / grandparent’s Indian passport / birth certificate/ marriage certificate.
You need not be present in India to avail of your Home Loan. In case you are posted aboard at the time of submission of the loan application and disbursement of the loan, you can avail the loan by appointing a Power of Attorney as per HDFC Bank's format. Your Power of Attorney holder can apply and carry out the formalities on your behalf.