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ICICI NRI Home Loan

"An Indian citizen who holds valid documents like Indian passport and who remains overseas for employment or for carrying on business or career outside India or remains overseas under circumstances showing an intention for an uncertain duration of stay overseas is a NRI." The Non-Resident Indians (NRIs) are recognized under the Foreign Exchange Regulating Act, 1973. Every financial institution and housing organizations follow the RBI guidelines to define NRIs.

ICICI Bank has designed a special kind of loan to provide to this section. ICICI NRI loan offers a wide range of products planned to facilitate NRIs to buy or build their own house at their birthplace. ICICI has definite qualifications requirements to sanction NRI loans. The norms and policies need to be followed are quite strict hence taking help from loan websites like creditfavor.com helps easing the process a little. The qualifications requirements ICICI Bank NRI loans are:

• For salaried section, the candidate should have been overseas for a lowest interval of 1 year
  he/she need to be at least 21 decades of age and highest possible age restrict is 60 decades or
  pension age, at the time of loan maturation.

• For self-employed section, the candidate should have been overseas for a lowest interval of 3
  years; and need to be at least 21 decades of age and highest possible age restrict is 65 decades
  or pension age, at the time of loan maturation.


SPECIAL FEATURES OF ICICI NRI HOME LOAN

• Service for on the internet program for NRI home loans in India
• Options of fix n float amount of interest available
• Interest amount calculated on a monthly reducing basis
• Door step service in Indian until disbursement
• Simple documentation Online monitoring of the status of your Indian home loan application
• Part pre-payment facility for zero penalty

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