I have taken an NRI home loan myself, so I can tell you about SBI housing loan interest rate for NRI. Financially speaking, I think as an NRI it makes more sense to use a home loan to buy a property, especially if you can invest your own money elsewhere and earn higher returns. Let me elaborate ahead.
What is SBI Home Loan Interest for NRI?
| CIBIL Score | Regular Home Loan | Regular Home Loan | CRE Home Loan | CRE Home Loan | Top Up Loan | Top Up Loan | Realty Loan | Realty Loan |
| Term Loan | Max Gain | Term Loan | Max Gain | Term Loan | Overdraft | Term Loan | Max Gain | |
>=750 |
9.15% |
9.55% |
9.35% |
9.65% |
9.55% |
9.85% |
9.45% |
9.65% |
700-749 |
9.35% |
9.75% |
9.55% |
9.85% |
9.75% |
10.05% |
9.65% |
9.85% |
650-699 |
9.45% |
9.85% |
9.65% |
9.95% |
9.85% |
10.15% |
9.55% |
9.95% |
550-649 |
9.65% |
10.05% |
9.85% |
10.15% |
10.15% |
10.45% |
9.85% |
10.05% |
NTC/No CIBIL Score/ -1 |
9.35% |
9.75% |
9.55% |
9.85% |
9.75% |
10.05% |
9.65% |
9.85% |
Now that you know SBI NRI loan interest rate, let me also tell you a few key features of SBI NRI loan which stands out for me.
SBI NRI home loans have low-interest rates and low processing fees which makes it affordable
There are also no hidden charges
Additionally, there is no pre payment penalty which is a great plus point
The interest on NRI home loans is charged on daily reducing balance
The repayment tenure lasts up to 30 years
In SBI the NRI home loan is also available as overdraft
And, there is interest concession for women borrowers as well.
I hope I was able to answer your question and help you.
Get the Lowest Interest Rates and Fastest Disbursal of NRI Home Loans Via NoBroker NRI Services. Read More:Can NRI prepay home loan from SBI?
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Non-Resident Indians (NRIs) who want to invest in residential real estate in India can apply for home loans from SBI. To meet the particular requirement of NRIs, this loan provides competitive interest rates, extended repayment terms, and easy options for loan disbursement and repayment. The SBI NRI Home Loan Interest Rate usually starts at 8.40%. Depending on the loan amount and term, it may change. Read on to get the latest interest rates.
What is the SBI NRI Housing Loan Interest Rates?
You can go through the below table to know the latest interest rates on NRI home loan. These are determined using a floating rate system, which implies that they could change depending on the state of the market.ย
| CIBIL Score | Home Loan (Term Loan Rates) | Home Loan (MAX Gain) |
|---|---|---|
>= 750 |
9.15% |
9.55% |
700 to 749 |
9.35% |
9.75% |
650 to 699 |
9.45% |
9.85% |
550 to 649 |
9.65% |
10.05% |
NTC/ NO CIBIL SCORE/ -1 |
9.35% |
9.75% |
With these competitive interest rates, NRIs can finally realise their dream of owning a home in India. The processing fee is equal to 0.35% of the loan amount along with applicable GST; the maximum amount is Rs. 10,000 as well as relevant GST, and the minimum amount is Rs. 2,000.ย
As an NRI, you can view the eligibility by visiting the
SBI's official NRI Home Loanlink. I hope you get an idea of SBI NRI home loan rates. ๐
Secure your dream home in India with NoBroker NRI Home Loan.
Read more -Can NRI get home loan in India?
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Authors Of The Question
What is the SBI NRI Home Loan Interest Rate?
Hajay
75Views
6 months
2023-12-22T11:53:17+00:00 2023-12-25T09:55:15+00:00Comment
2 Answers
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