NRI Home Loan | Loan Against Property for NRI

Home Loans for NRIs

Take a step closer to your dream home in India. Get HSBC Home Loans for NRIs starting at just 8.50% p.a.

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Types of Housing Loans
Home Loans for NRIs

NRI Home Loans

An investment option, a dream house for your family or your own summer holiday haven - with HSBC Non-resident Indian (NRI) Home Loan, you can fulfil your dream of owning a property in India.

Get home loan up to INR 600,000,000¹
Enjoy flexibility of tenure up to 25 years
Get loans for purchase of ready-to-move properties and approved under-construction properties
Transfer your existing home loan to HSBC to reduce Equated Monthly Installment (EMI) or your loan tenure through HSBC's Balance Transfer proposition
Enjoy HSBC Premier globally by taking a home loan greater than INR11,500,000
Enjoy zero repayment and foreclosure charges

To be eligible for HSBC NRI Home Loans, you need to fulfill some requirements. Please refer to the 'Eligibility' section below for details.

Attractive interest rates starting at

8.50% p.a.*

Fixed rates.

13.25% p.a.

Visit 'fees and charges page' for more details.

For further details, please reach out to your Relationship Manager.

Smart Home Loan : A home loan that enables you to save on interest payments and reduce tenure of the loan.

More details about Smart Home Loan

NRI Loan Against Property (LAP)

Make the most out of your property in India. With HSBC's Loan Against Property (LAP) for NRIs, you can raise funds against your residential or commercial property in India whether it's for consolidating debts, looking for better opportunities, your child's education or any other personal/business needs.

Get loan against property up to INR 600,000,000¹
Enjoy flexibility of tenure up to 15 years
Transfer your existing Loan Against Property (LAP) to HSBC to reduce EMI or the loan tenure through HSBC's Balance Transfer proposition
Enjoy HSBC Premier globally by taking LAP greater than INR11,500,000
Enjoy zero prepayment and foreclosure charges

To be eligible for NRI Loan Against Property (LAP), you need to fulfill some requirement. Please refer to the 'Eligibility' section below for details.

Attractive Interest Rates starting at

9.45% p.a.*

Fixed rates.

14.00% p.a.

Visit fees and charges page for more details.

For further details, please reach out to your Relationship Manager.

Smart LAP : Save on interest payments and enjoy greater flexibility with tenure.

More details about Smart LAP

Eligibility

NRI applicants must have a local co-applicant or a local contact person to be eligible.

US Persons can also avail a Non-resident Indian (NRI) Home Loan or a NRI Loan Against Property (LAP) subject to the repayment of the loan from the income generated in India. The repayment of the loan will have to be through a Non-Resident Ordinary (NRO) account. For more details, please speak to your Relationship Manager.

United Kingdom residents can also avail HSBC NRI Home Loans and NRI Loan Against Property in India subject to compliance with the UK regulations. For more details, please speak to your Relationship Manager.

To qualify for a NRI Home Loan/LAP from HSBC, the following criteria apply:

Minimum net income INR500,000 p.a. (salaried)²
Minimum age (in years) 21
Maximum age (in years) on maturity of loans 58 (salaried), or 60 (public limited/government employees)
Minimum loan amount INR300,000¹(for NRI Home Loans)
Maximum loan amount INR 600,000,000¹(for NRI LAP)
Maximum tenure (in years) 25

Insurance

You would need to insure your property with an insurance company against loss by fire, earthquake, floods and other damages with The Hongkong and Shanghai Banking Corporation Limited, India, as the beneficiary.

All documents need to be self-attested
Completed application form with one passport-size photograph
Copy of a valid Indian passport showing visa stamps or copy of foreign passport/equivalent documents
Copy of a valid visa/work permit/equivalent documents supporting the NRI status of the applicant
1. Proof of Identity (PI) (any one of the following)
2. Passport
3. Election/Voter's ID
4. Permanent driving license
5. Permanent Account Number (PAN) card
6. Aadhaar Card
Proof of Present Residential Address (PRA) (any one):
1. Passport
2. Election/Voter's ID
3. Permanent driving license
4. Society outgoing bill (only from registered societies)
5. Electricity/water/telephone bill
6. Gas bill (pipeline connection only)
7. Property tax bill
8. Domicile certificate with address issued by Municipal Corporation
  The above Proof of Income (PI) and Present Residential Address (PRA) is an indicative list. The final documents acceptable are based on HSBC's policy as applicable at the time of application of the loan. For more details, speak to your Relationship Manager (RM) or visit the nearest branch.
  Note: If the address on the document submitted on the Proof of Income (PI) by the prospective customer is the same as that declared by him/her in the application form, the document may be accepted as a valid proof of both Proof of Income (PI) and present residential address (PRA). If the address indicated on the document submitted for PI differs from the address mentioned in the application form, a separate proof of present residential address (PRA) should be obtained.
Proof of age (any one):
1. Passport
2. Permanent driving license
3. PAN Card
  The above proof of age is an indicative list, and the final documents acceptable are based on HSBC's policy as applicable at the time of application of the loan. Passport is mandatory for Non-resident Indians (NRI) customers. For more details, speak to your Relationship Manager (RM) or visit the nearest branch.
Specific Power of Attorney (POA) in HSBC standard format (if customer is not travelling to India for loan document execution) duty executed before Indian Consulate. The POA holder should be a near blood relative of the applicant

Financial/Income documents required for Non-resident Indian (NRI) home loans/LAP

All documents need to be self-attested except proof of age as mentioned above.

Listed below are the basic documents required. For more details please speak to your Relationship Manager or visit the nearest HSBC India branch.

Salaried:

Latest contract copy evidencing salary/salary certificate/wage slips
Overseas bank account statements for the last 3 months showing salary credits
3 months NRE/NRO account statements
Local bureau report of the country/region where customer is based

Working in Merchant Navy:

Latest contract copy. If on 'home port' for more than 6 months in a year, future contract copy will be needed
Latest Continuous Discharge Certificate (CDC) for 3 years' employment proof
Copy of passport for Proof of Identity (PI)
Primary bank account statements for last 3 months
Local bureau report of the country/region where customer is based (applicable if country/region of residence is other than India)

Note: The above stated requirements/documentation is subject to change and is at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India (HSBC).

All loans are subject to terms and conditions and are at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India (HSBC). Currently Home Loan is available for properties in and around the city limits of (sourcing cities) Ahmedabad, Bengaluru, Chandigarh, Chennai, Coimbatore, Hyderabad, Jaipur, Kolkata, Kochi, Mumbai, New Delhi (NCR) and Pune and is subject to change from time to time
Loan anniversary is the date and month on which the loan was disbursed. Example: If your loan was disbursed on 20 May 2012. Then every year, 20 May will be the loan anniversary
All joint owners of the property would necessarily have to be co-applicants and would need to sign all loan documents
The interest rate on your floating rate loan, if disbursed on/after 01 October 2019 is linked to HSBC's Repo Linked Lending Rate (RLLR). Any revision in the RLLR would impact your interest rate
Please be advised that applicable Indirect Taxes would be recovered on all our fees and charges and any other amount liable to tax under prevailing Indirect Tax Laws
Our Centralised Registration Number is AAACT2786PST001

^*The mentioned floating rate of interest is being offered for Home Loans. The rate applicable for other variants (Smart Home Loan. Loan against Property and Smart Loan against Property) will be at a premium. This rate is applicable only for Balance Transfer/Balance Transfer + Top-up up.

Top-up up to 50% of base loan at same rate as base loan rate
Top-up of more than 50% of the base loan will attract a premium of up to 50 bps above the base loan rate

¹The minimum and maximum loan depends on customer’s relationship with HSBC, city of property and property type. Loan amount of upto INR 600,000,000 only for existing HSBC Top Tier customers for properties in Mumbai/Delhi/Bengaluru, upto INR 200,000,000 for properties in Pune, Hyderabad and Chennai, and upto INR 150,000,000 for other locations. For HSBC Premier customer maximum loan amount of INR150,000,000 for properties in Mumbai/Delhi and INR 100,000,000 for all other sourcing cities for ready and under construction properties. For other customers loan amount of upto INR100,000,000 for ready and under-construction properties in Mumbai, New Delhi (NCR), and INR75,000,000 for ready and under construction properties in Bengaluru, Chennai, Pune, Ahmedabad, Chandigarh, Jaipur, Hyderabad and Kolkata (however we do not fund under construction property in Kolkata). The minimum agreement and market value of the property to be funded for Mumbai and Delhi is INR2,500,000 and for all other sourcing cities is INR1,500,000.

²To meet the minimum income criteria, income of two salaried applicants can be clubbed.

Home Loans for NRIs

NRI Home Loans

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NRI Loan Against Property (LAP)

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Eligibility

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