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NRI  Loans


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We have special loan schemes tuned to the needs of NRIs. These loans can be availed from any of our branches but preferably from the branch where you already have accounts.

1. Housing loan

2. Education loan 

3. Car loan 
4. Suvidha - All purpose mortgage loan 


NRI Housing Loan               

1.    Purpose 

For construction, purchase/repair/renovation/alteration of a house or for purchase of a plot for the construction of a house for self occupation on return to India. 

2.    Persons Eligible

  a. All Non Resident Indians holding Indian Passports with a regular monthly income  of  not less than Rs. 15000/- 

  b. Spouses and close relatives of Non-Residents, who are residents jointly with the non-resident Indian. 

3.    Amount of Loan 

60  times the Net Monthly Income (NMI) / Average Monthly Income (AMI) for persons upto 45 years and 48 times for persons above 45 years of age. However, the repayment obligation is restricted to Maximum 50% of the NMI/AMI for NMI upto and including Rs.20000/-.Repayment obligation for NMI above Rs.20000/- is 60%.  

4.    Margin 

  • 20% to 25%

5.    Interest  

Linked to our Prime Term Lending Rate and subject to change click on the link for present interest rates

6.    Disbursement 

  1. Construction of new building.

  2. In three stages, 30%. 40% and 30% of the loan amount. The last installment will be disbursed three or four weeks prior to the completion of the building. 
  3. Outright purchase 100% to the seller, after payment of the margin by the applicant. 
  4. Purchase of plot and construction of the building.
  5. The loan component for purchase of the plot will be only 30 % of the total project coat. 

7.    Repayment 

360 months including the repayment holiday of a maximum of 18 months. Repayment will begin on completion of the house or 18 months from the disbursement of the first installment of the loan, whichever is earlier. Repayment can be made either through remittance from abroad or transfer from NRE/FCNR/NRO A/c or by resident relatives. Rental income if any received should go towards repayment of loan. Repayment can be from local sources after returning to India permanently. 

Premature closure of loan permitted without any penalty w.e.f 31/10/2012

8.    Security 

Mortgage of property by deposit of title deeds. 

9.    Processing Charge 

Limit upto Rs.25,000/-  Nil 
Limits above Rs.25,000 to Rs. 2 lacs  0.56% of the loan amount (Max. Rs.500/-) 
Limits above Rs.2 lacs  0.56% of the loan amount (Max.Rs.10,000/-)

10.   Insurance 

Insurance is to be arranged for the total cost of the building. 

11.   Papers to be Submitted to Bank 

In addition to the application form (in duplicate) two copies of the passport and two passport size photographs, a declaration-cum-Affidavit in the Bank's approved format, the following papers are to be submitted to the Bank. 

   11.1    Proof of Income
   (a)   In the case of salaried persons: 

  1. Salary certificate issued by the employer and duly attested by an embassy official 
  2. Average monthly remittance into NRE A/c. in case of others.  

    11.2    Documents to be submitted for construction/improvement of houses 

  1. A copy of the plan inclusive of site plan approved by the Corporation/Municipality /Development Authority /Panchayat as required. 
  2. A copy of the building permit issued by the Corporation/ Municipality/ Panchayat as required. In areas where building permit is not required a no Objection Certificate from the authority concerned. 
  3. Estimate approved by an official not below the rank of Asst.Engineer(Civil)/ Registered Architect / Chartered Engg. 
  4. Original and prior title deeds 
  5. Latest tax receipts 
  6. Possession certificate 
  7. Encumbrance certificate from the Sub Registrar for the last 15 years. 
  8. Title clear certificate from Bank's approved advocate 
  9. Valuation report from the Bank's approved valuator. 

    11.3    Documents to be submitted for purchase of House/Flats 

  1. A copy of the agreement for sale 
  2. A copy of the Title deeds of the present owner 
  3. A copy of the land tax receipt 
  4. A copy of the building tax receipt 
  5. Encumbrance certificate from the Sub Registrar for the last 15 years. 
  6. Title clear certificate from the Bank's approved advocate. 
  7. Valuation report of the property and building from the Bank's approved valuator. 
  8. Estimate approved by an official as above.

After the sale deed is executed, the original deed along with fresh encumbrance certificate and possession certificate should be submitted.
For purchase of plot alone all the documents shown in 11.3 except item No. iv is to be submitted.
IV. After availing of the loan, encumbrance certificate for four months after the date of mortgage is to be produced. 

Availing loan by Power of Attorney Holder
   Housing loan can be availed on behalf of NRI by a resident power of Attorney holder. The power of Attorney to be executed in the Bank's format.



NRI Education Loan Enables your resident son/daughter take up higher education in India in recognised schools and colleges. 


1. Purpose: to meet tuition, admission and other fees, maintenance cost, cost of books and equipment for higher studies. Caution deposits and other refundable deposits can also be financed under the scheme.

2. Amount of Loan:  For studies in India : Rs.10 lakhs
                             For studies abroad  : Rs.20 lakhs

3. Persons Eligible:  

a) Indian National
b) students who have passed the entrance test and have secured admission for technical/professional courses.

3. Eligible Courses : a) All technical /professional courses including certificate courses, diplomas; graduate/ Post graduate and/ or doctorate degree studies in recognised schools / colleges / Institutions. (Courses in Medicine, Surgery, Dental Science, Architecture, Veterinary Science,  Agri Sciences and in various branches of Engineering , Technology, Computer Science, Industrial Management, Business Administration and other Management Sciences)

b) Computer Courses which are conducted by institutes given due accreditation by 
the Department of electronics, Govt of India.

c) Any other specialised course in Computer Science.

4. Borrower : Student and Parent or Guardian jointly. This means if an NRI wishes to educate his/her nephew /niece any other such relative the student and the supporting NRI as guardian 
may avail the loan jointly.

5. Margin : Upto Rs.4 lakhs    : Nil
                Above Rs.4 lakhs  : (i) Studies in India   : 5%
                                          (ii) Studies in Abroad:15%

6. Interest 

7. Repayment : a) 12 months after completion of course or 6 months after getting job whichever is earlier. 
  To be repayed iIn  60 monthly installments
8. Security : Collateral security equal to Loan amount plus interest payable up to one year after completion of course. When the loan amount exceeds Rs 4 lakhs, such Collateral security may be any one or more of : Govt Securities, UNITS of UTI, Surrender value of a LIC policy, National Savings Certificates, KVPs, IVPs, Bank Deposit Receipts after effecting necessary lien /assignment in favour of 
our bank and / or mortgage of immovable properties or other tangible assets acceptable to the bank.

9. Processing Fee: Nil

10. Application : Application is available at all our branches and should be submitted to one of them.

11. Documents to be submitted: 
a) Application (Student and Parent or Guardian jointly)
b) Two Copies of Passport Size Photos.
c) Testimonials in original from head of institution and from one or two other respectable persons not related to the student.
d) Proof of Admission to Course.
e) Schedule of Expenses for the course.
f) Copy of Salary certificate / statement (other proof) of Income of parent / Guardian
g) Copy of Passport of parent / guardian and student (if applicable)

Where Mortgage of Property is to be made the following documents will need to be submitted:

a) Original and prior title deeds
b) Latest tax receipt
c) Possession certificate
d) Encumbrance certificate for last 15 years from sub registrar
e) Title Clear Certificate from bank's approved advocate
f) Valuation Certificate from Bank's approved Valuator


NRI Car  Loan  Own your dream vehicle
1)  Purpose : To finance purchase of new Cars or Jeeps
2) Persons Eligible : NRIs or spouse of NRIs who have regular Net Annual Income (NAI) of not less than Rs 2,50,000.
3) Loan amount : Up to 4 times of NAI.
4)  Security:  a) The vehicle should be hypothecated to the bank and the lien noted in the registration certificate book.
b) Guarantee of spouse where her / his income is also taken into account for NMI and Loan amount.
c) Equitable mortgage of property or third party guarantee of two persons each worth the loan amount.
5) Margin :  a) 15 % of the cost of the vehicle
6)  Interest :  click for current interest rate
7)  Repayment :  In 84 Equated Monthly Installments [EMI]
8)  Insurance:  Comprehensive insurance is compulsory for all vehicle loans at your cost with suitable bank clause.
9) Processing Charges :  0.50% of the loan amount subject to a minimum of Rs.500/- and maximum of Rs.10000/-
10)  Papers to be submitted : a) Invoice in duplicate from dealer
b) Application in duplicate
c) Two passport size photographs
d) Salary certificate of employed persons OR evidence of average overseas remittance into bank (NRE) account for past 24 months
e) Details of guarantors and property to be mortgaged, if any



NRI Suvidha Loan    All purpose mortgage loan           

If your  money is blocked in landed assets and you need funds for urgent/important needs like sister's marriage, medical treatment, purchase of land or setup business for your ward etc., we offer a new facility to NRIs.

Scheme Loan against mortgage of immovable properties (land and or building) other than agricultural property or plantation or farm house, held by NRIs / Persons of Indian origin.

Eligibility  Non Resident Persons of Indian Nationality and origin and their close relatives who are existing customers of the Bank having a satisfactory track record of more than one year.

Purpose  All personal and own business purposes or a combination of both, other than those specifically prohibited by Reserve Bank of India.

Disbursement  As required by the applicant. The proceeds cannot be credited to NRE/NRNR/FCNR accounts. It can be credited to NRO account. Loan amount will not be remitted outside India.

Loan Amount   Minimum Rs. 50,000/-   Maximum Rs. 100 lacs subject to not exceeding 
24 months Net monthly Income or 1.5 times Net annual Income

Income level  Minimum NMI Rs. 15,000/- 

Proof of Income Salary certificate for salaried class; certified auditors certificate in case of self employed; In the absence of either Average monthly remittance in the last 24 months into own NRE account or to that of spouse

Interest Rate: click for current interest rate          

Processing Fee: As applicable from time to time.

Repayment  120 installments covering Principal and Interest to commence 1 month after availment.

Insurance  Insurance of the building, if any, for full value to be arranged.

Security  Equitable Mortgage of eligible property in the name of self/ close relative along with personal guarantee of such holder of property.

Margin  40 % of the market value of the property.

Papers to be submitted 

Application in duplicate 
copy of passport  
prescribed letter of undertaking 
Two recent passport size photographs
Original title deeds
Encumbrance certificate for past 15 years of the property
Power of Attorney, if availed through Spouse/Close relatives


For more information please contact any of our branch where you maintain NRE A/c. or
Chief Manager (NRI), State Bank of Travancore , Head Office, Poojapura, Trivandrum - 695 012.
E-mail : cmnri@sbt.co.in  0471-2192507, 2192510