Does Indian Bank offer NRI loans or housing loans?

There is another option worth asking Indian Bank about if you are planning to buy land first rather than a completed house.

Their current published charges schedule specifically lists the IB Plot Loan to NRI alongside the NRI home-loan product.

I would ask the bank to confirm whether your proposed property fits the relevant scheme before paying any booking amount.

Also keep the property documents separate from your NRI documents. The bank may ask for title documents, sale agreement, approved plan, and other property-related papers in addition to your passport, visa, income, and overseas address documents.

One thing I learned from dealing with NRI banking is that the branch can ask for additional documents even when the basic checklist looks straightforward. So I wouldn't rely entirely on a checklist found online.

For anyone applying from abroad, I'd also ask upfront whether documents need to be attested and whether the application can be processed through a particular NRI branch or representative.

I looked into this because my situation is similar, although I haven't completed the loan yet.

One thing that seems important is not to look only at the headline interest rate. For an NRI application, the bank will also want to establish your overseas income and repayment capacity.

For example, Indian Bank's published NRI home-loan FAQ mentions documents such as:

• Passport and visa
• Overseas address proof
• Appointment/employment letter
• Recent salary slips
• Recent bank statements showing salary credits
• Tax returns, where applicable

For a non-salaried applicant, the bank mentions business address proof and financial statements as well.

The same document says copies may need to be attested by an Indian Embassy, a Notary Public or another competent authority in the country concerned.

So if you're applying from Dubai or another country, I would prepare the overseas employment and income documents before approaching the branch. That may save some back-and-forth.

Also, don't assume that every NRI will receive the same loan amount or tenure. The bank will assess the individual application.

Yes, Indian Bank does have an NRI home-loan offering. I checked their current loan-related documents because I was also confused about this.

Indian Bank's published charges document specifically lists “Home Loan to NRI” and also “IB Plot Loan to NRI.” So it isn't simply a case of assuming that the normal resident home loan automatically applies to NRIs.

The bank also has a separate NRI banking section and an online NRI customer onboarding facility, so NRIs can have their banking relationship managed separately from ordinary resident accounts.

For the documentation, Indian Bank's home-loan FAQ says NRI/PIO applicants may need an attested passport and visa, overseas address proof, salary slips, employment documents, bank statements and tax returns where applicable. For self-employed applicants, business and financial documents can be required instead.

I'd still check with the particular branch handling the property because the exact documents and eligibility can vary depending on your employment, country of residence, property and loan amount.