State Bank of India, the country's largest lender, offers home loans for NRI for purchasing or constructing a new house or flat, for repair, renovation or extension of an existing house, for purchasing an existing house, land or plot and for purchasing furnishings and consumer durables.
A minimum of Rs 3 lakh can be obtained under the scheme while the maximum limit can vary according to the age and income of the borrowers. The person who has attained 21 years of age and contain a valid passport is eligible to apply for the loan under this scheme. A steady source of income with minimum net annual income of US$ 6000/- is necessary for approval of SBI home loans for NRI. The interest rate will be same as applicable for resident Indian borrowers. | 
