• No tax benefits are available for NRI’s unless you file your returns and subsequently become eligible to avail the tax benefits as mentioned under Home Loan FAQ’s.

• Apart from the documents mentioned under the home loan section for Indian citizens, NRIs are required to submit a few additional documents as well. These include:

  • A copy of the passport
  • A copy of the works contract or the labor card
  • The power of attorney (POA). (POA is required because the borrower is not based in India

The eligibility is calculated in the same way as it is done for resident Indians with special emphasis on:

• Qualifications – Graduate (minimum)
• Current job profile and work experience
• Chances of continuing abroad for the loan tenure
• Chances of servicing the loan with an extended tenure in case the applicant needs to return to India

Any documentary evidence like a school certificate, land ownership
certificate, birth certificate etc. by which eligibility may be reasonably
ascertained.

To the Indian Mission/ Post of the country of citizenship of the
applicant. If the applicant is not in the country of citizenship, to the Indian
Mission/Post of the country where he is ordinarily residing. If the applicant
is in India, to the FRRO Delhi, Mumbai, Kolkota or Amritsar or to FRRO,
Chennai or to the Under Secretary, OCI Cell, Citizenship section, Foreigners
Division, Ministry of Home Affairs (MHA), Jaisalmer House, 26, Mansingh
Road, New Delhi-110011.

All the applications will be subject to pre or post enquiry depending
on whether any adverse information is voluntarily reported in the application
or not. If the Government comes to the know that any false information was
furnished or material information was suppressed, the registration as OCI
already granted shall be cancelled by an order under section 7D of the
Citizenship Act, 1955. The persons will also be blacklisted thereby banning
his/her entry into India.