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NRI Personal Loan Upto 10 Lakh*
Get an NRI personal loan in India at competitive interest rates. Enjoy quick approval, flexible tenure, and hassle-free processing to meet your financial needs.
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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
Institution | Interest Rates |
---|---|
HDFC Bank | 10.85% – 24.00% |
Axis Bank | 11% – 24.00% |
Bandhan Bank | 11.90% Onwards |
ICICI Bank | 10.85% – 16.25% |
DBS Bank | 10.99% – 24.00% |
Bank of Baroda | 11.05% – 18.75% |
SBI | 11.45% – 14.85% |
IndusInd Bank | 10.49% – 24.00% |
Yes Bank | 11.25% – 21.00% |
Standard Chartered | 11.50% – 24.00% |
IDFC First | 10.99% – 23.99% |
Kotak Mahindra Bank | 10.99% – 24.00% |
PNB | 11.40% – 17.95% |
Indian Bank | 10.90% – 24.00% |
NBFCs
NBFC Name | Interest Rate |
---|---|
InCred Interest Rate 2025 | 16% – 42% |
Finnable Interest Rate 2025 | 16% – 28% |
L&T Finance Interest Rate 2025 | 11% – 24% |
Aditya Birla Interest Rate 2025 | 10% – 32% |
Shriram Finance Interest Rate 2025 | 11% – 42% |
Bajaj Finserv Interest Rate 2025 | 10.75% – 31% |
Piramal Interest Rate 2025 | 12.99% onwards |
Tata Capital Interest Rate 2025 | 11.99% – 35% |
Poonawalla Interest Rate 2025 | 11.49% – 19% |
SMFG Interest Rate 2025 | 13% – 36% |
Axis Finance Interest Rate 2025 | 13% onwards |
Mahindra Finance Interest Rate 2025 | 12% – 36% |
Paysense Interest Rate 2025 | 16.8% – 33% |
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. |
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 Criteria | Details |
---|---|
Age | Typically between 21 and 60 years (varies by lender). |
Employment Status | Salaried or self-employed individuals working abroad. |
Minimum Income Requirement | Varies by lender, usually ₹20,000 to ₹30,000 per month or equivalent in foreign currency. |
Work Experience | Minimum 1-3 years of employment abroad. Some lenders may require continuous employment with the current employer for at least 1 year. |
Type of Employment | Salaried or self-employed professionals, working with reputed organizations abroad. |
Residency Status | Must be a Non-Resident Indian (NRI) holding a valid Indian passport. |
Co-applicant | Some lenders may require a close relative (resident Indian) as a co-applicant or guarantor. |
Minimum Loan Amount | Usually starts from ₹1 lakh (varies by lender). |
Maximum Loan Amount | Can go up to ₹10 lakh or more, depending on the lender and applicant’s eligibility. |
Credit Score | A good credit score is generally required (some lenders may check your credit history in India as well as your country of residence). |
Bank Account | Some 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
Seize financial freedom worldwide with our NRI personal loans and breathe life into your dreams
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