Tuesday, January 5, 2010

Home Loan NRI Excess approved?

I have applied for home loan and it has got approved my bank is financing 85% of the value of the flat and stamp duty and registration, and the builder is asking initial 20% and I have to pay stamp duty before getting the loan. Now the scene is that after I pay all this will the bank still reimburse the diffrence of 5% (Bank approved 85% but I paid builder 20% instead of 15% balance) I am NRI if bank gives me the diffrences can I deposit it in my NRE account or can I deposit this in my NRO account and pay my EMI from there, Does bank insist that payment has to come from NRE/NRO account only? for NRI
you have to consult with your bank, Coz no one can tell about that.

Best bank for NRI loan in India?
Hiya, Can any one suggest me the best bank in India to apply for NRI home loan. As far as I know people seem to have bad experience with all private banks especially with ICICI and HDFC. So if anyone could suggest any bank I can go for would be much appreciated. Rgds, Reed.
Shouldn't you be asking that on some Indian Yahoo site? We're not going to know on here are we? If I want a loan I go to Barclays or LloydsTSB not some bank on the sub continent.

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