TJSB NRI Property Loan

A scheme for the NRIs who want to invest back home in properties such as flats, shops and offices, etc.

Avail Loan up to Rs.100 Lacs.

Zero prepayment charges

Flexible repayment tenures up to 120 months

All you need to know

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Term Loan for Purchase/Acquisition of Shops/Offices/Commercial premises,etc. for self or business purpose
Loan Limit : Maximum upto Rs. 100 Lacs
Pre-Payment Penalty : Nil
Rate of Interest : Applicable from time to time.
Repayment Period : Maximun 120 months (Moratorium period maximum 18 months*)

Individual Non – Resident Indian (NRI)/OCI card holder defined under FEMA / Income Tax Act

Applicant

Salaried persons : Confirmed service/contractual service for atleast 3 years
Businessman/self-employed/professionals : Establishment of minimum 3 years
Co-Applicant

A resident Indian preferably spouse/parents/"close relative" as defined in Companies Act

Applicant (NRI Borrower) :

A) Basic Documents :

i) Passport copy with page containing visa stamping/copy of overseas citizen of India (OCI) card
ii) Copy of valid work permit
iii) Employment contract copy (If the contract is in any other language, then an English translation duly attested by employer/consulate/embassy office).
iv) Copy of identity card issued by employer
v) Copy of proof of residence in India (As per KYC guidelines)
vi) Copy of continuous Discharge Certificate if employed in merchant navy.
vii) If applicant is of PIO (Person of Indian Origin), one of the following additional documents is needed-
a) Copy of Current Passport indicating birth place
b) Copy of Indian passport, if held earlier
c) Copy of relevant pages of Passport of parents or grandparents, establishing their Indian Origin
B) Income Documents :

i) Latest salary certificate in original or proof of income incase of self employed/professionals e.g. IT Return (of the residing country of NRI)/Tax Residency certificate.
ii) If he/she intends to start business with his resident close relative, project report and estimation for tenure of loan
C) Co-Applicant (Resident Indian) :

i. Income Proof of Applicant(s) & Guarantor(s)
ii. Residential Proof of Applicant(s) & Guarantor(s)
iii. PAN Card of Applicant(s) & Guarantor(s)
iv. KYC of Applicant(s) & Guarantor(s)
Prime Security: Equitable/Registered Mortgage of Shops/Offices/Commercial premises
Guarantors : One acceptable guarantor of Good Net worth who are resident Indians, other than Co-owners & Security Holders*
Other Charges : Franking/stamp duty charges, CERSAI, filing mortgage,insurance of property

* “Conditions Apply. Loan at the sole discretion of the Bank”

TJSB NRI Property Loan

Avail Loan up to Rs.100 Lacs.

Zero prepayment charges

Flexible repayment tenures up to 120 months

All you need to know

Applicant

Co-Applicant

Applicant (NRI Borrower) :

A) Basic Documents :

B) Income Documents :

C) Co-Applicant (Resident Indian) :

Forex

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