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NRI Personal Loan Upto 10 Lakh*

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Home › Banking › Loan › personal loan › Personal Loan for NRI
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What is NRI Personal Loan?

Personal Loan for NRI is a variant of Personal Loan offered exclusively for Non Resident Indians (NRIs). We understand the unique financial needs of Non-Resident Indians (NRIs), providing tailored solutions for a seamless and secure borrowing experience.

Interest rates from Popular Banks and NBFCs NRI

Banks
InstitutionInterest ratesLoan amount
DBS bankFrom 10.99%Upto 15 Lakhs
HDFCFrom 10.5%Upto 40 Lakhs
Axis BankFrom 10.49%`Upto 40 Lakhs
ICICI bank10.75%-19%Upto 40 Lakhs
Bank of Baroda10.75% – 18.5%Upto 5 Lakhs
SBIFrom 11%Upto 30 Lakhs
IndusIndFrom 10.49%Upto 50 Lakhs
Yes BankFrom 10.99%Upto 40 Lakhs
Standard CharteredFrom 11.5%Upto 50 lakhs
IDFCFrom 10.49%Upto 50 Lakhs
Kotak MahindraFrom 10.99%Upto 40 Lakhs
PNBFrom 11.40%Upto 20 Lakhs
Bandhan bankFrom 11.55%Upto 25 Lakhs
NBFCs
InstitutionInterest ratesLoan amount
Piramal FinanceFrom 12.99%Upto 35 Lakhs
Shriram FinanceFrom 14%Upto 35 Lakhs
Tata CapitalFrom 10.99%Upto 35 Lakhs
InCredFrom 18%Upto 3 Lakhs
FinnableFrom 16%Upto 10 Lakhs
PaySenseFrom 16.8%Upto  5 Lakhs
PoonawallaFrom 9.99%Upto 30 Lakhs
FullertonFrom 11.99%Upto 25 Lakhs
LendingKartFrom 12%Upto 3 Lakhs
Axis FinanceFrom 13%Upto 25 Lakhs
L&T FinanceFrom 12%Upto 7 Lakhs
Mahindra FinanceFrom 10.99%Upto 10 Lakhs
Aditya BirlaFrom 11.99%Upto 50 Lakhs
Bajaj FinanceFrom 11%Upto 50 Lakhs

Key Features of NRI Personal Loans

Feature Details
Loan Amount Usually ranges from INR 1 lakh to INR 10 lakhs, but can vary based on lender and eligibility.
Interest Rate Higher than domestic loans; can range from 10% to 20% depending on the lender.
Loan Tenure Generally 1 to 5 years, though some lenders may offer longer tenures.
Processing Fee Typically 1-3% of the loan amount.
Repayment Repayment is done through the NRO (Non-Resident Ordinary) account, and some banks accept payments via post-dated cheques.
Collateral Mostly unsecured, meaning no collateral is required.
Calculators

Documents Required for Personal Loan for NRIs

Document Type Details
Proof of Identity Passport, Voter ID, or Aadhaar card.
Proof of NRI Status Copy of valid passport, visa, or work permit.
Proof of Income Salary slips (last 3-6 months), employment contract, or bank statements showing salary credits.
Employment Proof Employment contract, offer letter, or work permit from the foreign employer.
Proof of Residence Utility bills, rental agreement, or foreign country residence permit.
Bank Statements Bank statements for the last 3-6 months from both overseas and NRE/NRO accounts.
Power of Attorney (POA) POA document appointing a resident Indian to act on behalf of the NRI.
Photographs Recent passport-sized photographs.
Co-applicant/Guarantor Documents Identity and income proof of the co-applicant/guarantor (if applicable).
Credit Report Credit report from the applicant’s country of residence (if required by lender).

Eligibility Criteria of Personal Loan for NRIs

Eligibility CriteriaDetails
AgeTypically between 21 and 60 years (varies by lender).
Employment StatusSalaried or self-employed individuals working abroad.
Minimum Income RequirementVaries by lender, usually ₹20,000 to ₹30,000 per month or equivalent in foreign currency.
Work ExperienceMinimum 1-3 years of employment abroad. Some lenders may require continuous employment with the current employer for at least 1 year.
Type of EmploymentSalaried or self-employed professionals, working with reputed organizations abroad.
Residency StatusMust be a Non-Resident Indian (NRI) holding a valid Indian passport.
Co-applicantSome lenders may require a close relative (resident Indian) as a co-applicant or guarantor.
Minimum Loan AmountUsually starts from ₹1 lakh (varies by lender).
Maximum Loan AmountCan go up to ₹10 lakh or more, depending on the lender and applicant’s eligibility.
Credit ScoreA good credit score is generally required (some lenders may check your credit history in India as well as your country of residence).
Bank AccountSome lenders require the applicant to maintain an NRE/NRO account with the bank offering the loan.
Power of Attorney (POA)Lenders may require a resident Indian to hold Power of Attorney (POA) on behalf of the NRI applicant for loan documentation purposes.

Why apply for Personal Loan for NRI at Fincover?

  • Swift Approval: Need cash in a hurry? Our super fast approval process ensures you access to funds at the time you need
  • Flexible Repayment Plans. Our flexible repayment plans would ensure that your EMI commitments are structured to your budget
  • Competitive Interest Rates: We believe in fair deals. Get the best deals on personal loan for NRI interest rates in the market
  • No Hidden Charges: Transparency is deeply embedded in our goal. No surprises, no hidden fees. Just pay according to the terms of the loan
  • Quick Disbursal: Once approved, we would ensure you your funds at the shortest time possible

Unlock Extensive Financial Opportunities Abroad with NRI Personal Loans

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