NRI Home Loan Interest Rate* Feb 2022
| Banks | Interest Rates |
| SBI | 6.90% – 7.50% p.a. |
| Bank of Baroda | 6.85% – 7.20% p.a. |
| PNB Housing Finance Limited | 7.50% – 9.70% p.a. |
| Axis Bank | 6.90% – 8.55% p.a. |
| HDFC Ltd. | 6.90% – 8.00% p.a. |
| Canara Bank | 6.90% – 8.90% p.a. |
| Federal Bank | 7.90% – 8.05% p.a. |
| Bank of India Star Pravasi Home Loan | 6.90% onwards |
| Indian Overseas Bank | 7.05% – 7.30% p.a. |
| Indiabulls | 8.99% p.a. |
Other Fees* and Charges for NRI’s
| Processing Fee | Up to 2% of the loan amount |
| Foreclosure Charges | Up to 4% of the total outstanding |
| Loan Conversion Fees | As per the bank’s discretion |
| Cheque Return Charges | Up to Rs.500 per instance |
| Duplicate Statement Issuance Charges | Up to Rs.250 per instance |
| Title Documents Photocopy Issuance Charges | Up to Rs.250 per instance |
| Duplicate NOC Issuance Charges | Up to Rs.500 per instance |
| Credit Report Issuance Charges | Up to Rs.50 per instance |
Conclusion
Before getting involved in the discussion of tax deductions related to NRI home loans it is important to evaluate the need for tax savings for an NRI. They can avail of a home loan and buy a home in India if they have taxable income from India.
In this way, NRIs can build easily avail the home loan and can build their wealth in their homeland through their favorite and ever-attractive investment option of property.
Disclaimer- *Home Loan Interest Rate and Fees& may vary
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