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Home ownership was a dream for most of us and you may thanks to the varied home loan systems available to build you to dream an actuality. Exactly how so is this other in case there is Non- Resident Indians (NRI )? NRI home loans are now easily available from inside the India, at the mercy of satisfaction out-of certain criteria.
With regards to identifying an excellent NRI, all the banking companies and you may financial institutions go by the meaning given because of the the fresh new Reserve Bank out of Asia (RBI) we.e., “An enthusiastic Indian resident who retains a legitimate Indian passport and you can stays overseas for employment otherwise creating organization otherwise vocation around circumstances showing a purpose having an unclear duration of stand abroad is a keen NRI.