Product Details
Housing Loans to Non-Resident Indians
Hyderabad
A Quality Product from
Andhra Bank [View Profile]
Hyderabad - India
Description :
Housing Loan to a Non-Resident Indian or a person of Indian Origin resident outside India, for acquisition of a residential accommodation in India, subject to the following conditions, namely:
The quantum of loan, margin money and the period of repayment shall be at par with those applicable to housing finance provided to a person in India;
The loan shall be fully secured by equitable mortgage of the property proposed to be acquired, and if necessary, also by lien on the borrower's other assets in India;
The installment of loan, interest and other charges, if any, shall be paid by the borrower by remittances from outside India through normal banking channels or out of funds in his Non-resident External (NRE) / Foreign Currency Non-resident (FCNR) Non-resident Ordinary (NRO) account in India, or out of rental income derived from renting out the property acquired by utilization of the loan;
The rate of interest on the loan shall conform to the directives issued by Reserve Bank of India or, as the case may be, by the National Housing Bank.
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Andhra Bank deals in :
NRI Services: -Particulars of NOSTRO Accounts Maintained by International Banking Division Mumbai. -List of branches authorised to handle / transact foreign Exchange. -Mandatory fields for Wire Transfer of funds in EUR to any Branches of Andhrabank. -Mandatory fields for Wire Transfer of funds in GBP to any Branches of Andhrabank. -Mandatory fields for Wire Transfer of funds in USD to any Branches of Andhrabank. International Business Services: Exporters: -Advising Letters of Credit established by foreign buyers -Obtaining Credit Report on buyers abroad -Negotiation of documents under Letters of Credit Collection of Bills -Packing Credit Finance in Indian Rupees -Packing Credit Finance in Foreign Currencies -Export Earners' Foreign Currency Account -Forward Exchange cover. Importers: -Opening Letters of Credits on behalf of Bank's Constituents -Issue of Bank Guarantees on behalf of Bank's Constituents -Collection of Bills -Obtaining reports on Exporters/Sellers abroad -Facility for remittance of proceeds by Mail Transfer/Teletransfer/Swift -Import loans in Foreign Currency -Loans for import of capital goods. Student Services, Services to International Tourists, Services to Businessmen, Services for Medical Treatment Abroad.
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