All About State Bank of Hyderabad Loan Against Property
Apply for Loan Against Property
General Purpose Loan
Individual Non-Resident Indians (NRIs) holding a valid Indian passport or person of Indian origin (PIOs) holding a foreign passport.
Nature of Facility
Medium Term Loan
Sources of Income
Income of NRI
Proof of Income
Any one of the following may be taken as proof of income in case of NRIs
Minimum Rs.1.00 lac
50% of the value of the collateral security as certified by approved valuers.
Rate of Interest
13.50% p.a. (0.50% below BPLR) As applicable to Domestic Mortgage loans
The loan proceeds can be credited to NRO Savings Bank account of borrower or as per his request. The proceeds of the loan shall not be credited to NRE/ FCNR account of branch.
Maximum 84 months
Equitable Mortgage of non- encumbered Residential House / flat, non-agricultural urban landed property, commercial or industrial property in the name and possession of the borrower i.e. self-occupied, vacant or rented/ leased.
Power of Attorney
The Power of Attorney (POA) facility is extended to the NRIs under this scheme. NRIs can execute POA in favor of resident close relative/Professional (Chartered Accountant, etc.) for availing the loan. The Power of Attorney enables the resident holder to apply for, create mortgage and execute documents in favor of the Bank for availing loan under the scheme.
Maximum 84 equated monthly installments (EMIs)
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