Types of Loans

Home Loans

Loan Against Property

Balance Transfer

Home Loan Top Up

Commercial Property Loan

Home Improvement Loan

Why get it from us

  • Online Application

    Apply online with easy document upload and quick provisional sanction

  • Disbursement without visiting India

    Loans available for NRIs/OCIs via Power of Attorney (POA)

  • Diverse Loan Options

    Choose from home purchase, home improvement, top-up, balance transfer, or loan against property as per need

  • Connect With Us

    Dedicated assistance from ICICI Bank offices in New York ( +1 646 827 8450), California (+1 408 769 4311),  and Texas (+1 972 480 6851)

About NRI Mortgage Loans

Online Loan Application

Apply for your NRI Home Loan online through ICICI Bank's Express Home Loan platform, from anywhere globally, without the need to visit India.

Power of Attorney Facility

Disbursement through POA without visiting India.

Flexible Loan Options

Choose from a wide range of loan products like property purchase, construction, top-up, or balance transfer based on your needs.

Balance Transfer for NRIs

Easily transfer your Mortgage loans in India from other banks and NBFCs to ICICI bank. Enjoy attractive interest rates as well as long tenure and maximise your savings.

FAQs 

Can NRI/OCI customer apply for a Home Loan in India?

Yes, NRI/OCI customer can apply for a Home Loan in India.

What is the maximum loan amount for an NRI Home Loan?

There is no capping to the loan amount which can be availed by NRI. Loan amount depends on eligibility.

Can a Resident Indian (RI) or another NRI be a co-applicant for an NRI Mortgage Loan?

Yes, both NRIs and Resident Indians can be co-applicants.

Is an Aadhaar Card mandatory for an NRI/OCI customer?

No, an Aadhaar Card is not mandatory. however it can be used as address proof if available.

Is an NRE/NRO Account mandatory to apply for a Mortgage Loan?

Yes, ICICI Bank NRE/NRO Account is required at the time of loan disbursement.

How do I calculate my eligibility for a Home Loan as an NRI/OCI customer?

You can use the Eligibility Calculator for precise information.

Can an NRI/OCI customer from the USA apply for a Home Loan in India?

Yes, an NRI/OCI customer from the USA can apply for a Home Loan in India.

What is the difference between applying for a Mortgage Loan online vs offline for NRI/OCI customers? 

Offline: You can visit our Branches in India and apply by submitting required documents

Online: Upload scanned copies through ICICI Bank Express Home Loan (EHL) platform. Salaried NRI/OCI customers can apply as a ‘New to Bank' customer or an ‘Existing customer’. Click here to start your Mortgage Loan application.

Can a Person of Indian Origin (PIO) apply for a Home Loan?

Yes, a PIO is eligible to apply for a Home Loan in India.

How can an NRI/OCI customer apply for a Mortgage Loan?

You can apply online through our Express Home Loan platform. Click here to start the application process. Our team will get in touch with you for further processing.

Is it mandatory to visit India to apply for a Mortgage Loan?

No, you can apply online for a Mortgage Loan without visiting India. An NRI/OCI customer can now apply online through our Express Home Loan platform and avail a provisional sanction letter. Click here to apply now.

What is the maximum Home Loan tenure applicable for NRI/OCI customers?

The maximum tenure for a Home Loan is up to 30 years depending on customer’s eligibility.

Can an NRI/OCI customer avail a Loan Against Property (LAP)?

Yes, Loan Against Property can be availed against residential or commercial property located in India.

Is Indian address proof mandatory for an NRI/OCI customer?

Indian address proof is mandatory only if it is provided as a communication address in the application form.

Is overseas address proof mandatory to apply for an NRI Mortgage Loan?

Yes, overseas address proof is mandatory only if an overseas address is selected as the communication address.

I am holding a foreign passport. Am I eligible for a Mortgage Loan?

If you are holding a foreign passport, you must qualify as an Overseas Citizen of India (OCI) to apply for a Mortgage Loan. It is mandatory to provide an OCI Card or a declaration to apply for a loan. In the absence of the OCI Card, OCI declaration in the Bank’s format must be signed and submitted by the customer. Click here for the OCI declaration format.

I am an OCI customer, but I do not hold an OCI Card. Can I apply for a Mortgage Loan?

Yes, an OCI customer can apply for a Mortgage Loan. In the absence of an OCI Card, OCI declaration in the Bank’s format must be submitted.

Is a valid visa mandatory as an NRI status proof to apply for a Mortgage Loan?

Yes. A valid residence visa/ work permit/ permanent citizen card or an equivalent document is mandatory to establish NRI status.

Can an NRI/OCI customer apply for a Balance Transfer?

Yes, an NRI/OCI customer can apply for a Balance Transfer.

What are the documents required by NRI/OCI customers to apply for a Mortgage Loan?

a. Valid passport (the first, last & latest stamping pages)

b. Valid visa (Residence visa/ work permit/ permanent citizen card)

c. OCI Card (if applicable) or OCI declaration (Click here for the OCI declaration format)

d. Address proof (Indian or Overseas)

e. PAN: For NRIs, PAN is mandatory. For OCIs, either PAN or Form 60

f. Salary slip for the last month

g. Overseas bank statements for the last 3 months (In case salary crediting in multiple accounts, please upload all the bank account statements)

h. Latest detailed credit report from Experian/Equifax/Transunion

Is it mandatory to have an NRO Account for an NRI/OCI customer availing Loan Against Property (LAP) or Top-up?

Yes, an active ICICI NRO Account is required for availing Loan Against Property or Top-up. The disbursed funds must be credited only to NRI/OCI customer’s NRO Account.

Is there a validity period for an NRI/OCI Mortgage Loan sanction letter?

Yes. The sanction letter is valid for a period of 6 months or 180 days from the date of issue.

As an NRI/OCI customer, can I avail fixed or floating rate of interest?

An NRI/OCI customer can avail either fixed or floating rate of interest.

What is the rate of interest applicable for a Home Loan for an NRI/OCI customer?

To check the rate of interest, click here

Is an NRI/OCI customer eligible to make the part payment of a Home Loan immediately after disbursement?

Yes. You can make part payment of a Home Loan any time after disbursement. There will be no fee if you have taken a loan on floating interest rate.

Is Power of Attorney (POA) mandatory for an NRI/OCI Mortgage Loan?

Power of Attorney (POA) is optional for disbursement. If customer is in India at the time of loan disbursement, then a POA is not required. But if customer is not in India at the time of loan disbursement, then a POA is mandatory to complete the loan formalities on your behalf.

Who can be my Power of Attorney (POA) holder?

The POA holder can be anybody from your family, friends or neighbours residing in India.

Is it necessary to execute a POA document when applying for a Mortgage Loan?

No, POA execution is not needed at the time of applying for a Mortgage Loan. The customer must execute a POA before disbursement.

I am an NRI/OCI customer and I do not intend to visit India before disbursement. How do I execute a POA document?

You can execute a POA document overseas at your country of residence. Print the POA format, visit the Indian Embassy, sign and get it attested from the embassy officials. Alternatively, POA can be executed through notarisation by a notary officer in all countries except Gulf Cooperation Council (GCC) countries.

Can an NRI/OCI customer execute a general POA for a Mortgage Loan?

No, the POA must be executed only in ICICI Bank’s format.

I am an existing Home Loan NRI/OCI customer, and I need additional funds. How can I get additional funds?

You can apply for a Top-up Loan on your existing Home Loan. If you are an NRI salaried customer currently residing overseas, use the Express Home Loan (EHL) platform. If you are in India, visit any ICICI Bank Branch.

I have a Mortgage Loan with another bank along with a Top-up. Can I transfer the Mortgage Loan and avail additional top-up?

Yes, you can transfer your loan and get an additional Top-up Loan.

Can an NRI/OCI customer avail a Top-up Loan along with Balance Transfer?

Yes, you can combine a Top-up Loan with a Balance Transfer.

What is the LTV ratio?

LTV is the maximum loan that you can get based on property market value

When is the loan disbursed?

Your loan will be disbursed after you have selected a property, submitted all necessary documents for legal and technical verification and paid your contribution amount. For builder properties, funds will be directly credited to the builder’s account. For under-construction properties, disbursement will happen as per the stage of construction. For LAP and Top-up Loans, funds are disbursed to the applicant's NRO Account only.

How do I repay the loan as an NRI/OCI customer?

You can repay the loan through Equated Monthly Instalments (EMIs), covering both interest and principal, from your NRE/NRO Savings Account linked to the loan. In case of part-disbursement of the loan, the monthly interest is payable only on the disbursed amount. This is called pre-EMI interest and is payable monthly till the final disbursement is made, after which EMIs will commence.

I am an NRI customer. Do I need to submit residential address proof in India?

If you are an NRI customer, Indian address proof is mandatory only if you provide an Indian address as your mailing/communication address. The documents accepted as Indian address proof are:

  • Valid Passport
  • Aadhaar Card
  • Valid Driving Licence
  • Voter ID
  • NREGA Job Card
  • Letter from National Population Register

I am an NRI customer. What documents can be used as proof of overseas address?

If you are an NRI customer, overseas address proof is mandatory only if you provide overseas address as emailing/communication address. Below documents are accepted as overseas address proof:

  • Valid US Passport
  • Valid Driving Licence
  • OCI card

As an existing NRI/OCI Mortgage Loan customer, am I required to visit India to avail post-disbursement related services?

For any post-disbursement related services, click here to log in and submit your request.

(Example: For part payment or interest rate conversion or to obtain account statement or tax certificate or to change repayment account etc.)

 

 

*T&Cs. ICICI Bank offices in the U.S. does not process, approve and disburse any loans.

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