NRI Personal Loan

NRI Personal Loan

A non-resident Indian (NRI) is a citizen of India who holds an Indian passport and has temporarily immigrated to another country for six months or more for employment, residence, education or any other purpose. NRI can avail loan of two types of Loan ie called as NRI Home Loan and NRI Personal Loan

A personal loan is a very potent financial tool to tide over from short term cash crunch as it requires less documentation and the end use of funds is not restricted.

NRI Personal Loan are the most common source of finance which helps Indian citizens residing in foreign countries to avail personal loans in India. NRI Personal Loan are those in which one does not require give in any security or collateral, the lender relies on the borrower's contractual obligation to repay the loan back. If an NRI has to travel urgently or if any personal emergency situation rises up, then a personal loan can be their aid and it can help them to tide over the contingency in the short period of time. Similarly, if one is looking to buy any consumer durable but is in short of cash, a personal loan can help to finance the purchase. All one got to do is choose the right lender and then apply for a loan amount as required

  • Our expertise to get u the right Banks / Institute to fulfill your requirement.
  • Loan repayment in flexible tenures from 12 months up to 60 months.
  • Speedy approvals
  • Attractive Rate of Interest
  • Minimum/Hassle free Documentation.
  • Funds available for child's education or home renovation.
  • Convenience of doorstep service.

There are several steps in the NRI personal Loan process. Here are the steps in brief:

  • Application form & Document submission
  • Cibil report check
  • Residence verfication
  • Office verification
  • Eligibility calculation
  • Personal Discussion
  • Credit decision
  • Signing of agreements and submitting post-dated cheques
  • Disbursement


  • Indian co Applicant (Relative)
  • More than three year experience
  • The minimum age of the Applicant should be 25 years
  • The maximum age of the Applicant at loan maturity should be 58 years

Under the RBI regulations, the repayment of the Housing loan by NRI s can only be made by remittances from abroad through normal banking channels or through NRE/NRO account. The amount must be payable in Indian Rupees only.

List of Documents for NRI and Co applicant

  • 1 passport size latest photograph of each applicant (applicant & co-applicant) with signature across
  • Valid passport copies for all the applicants
  • Valid visa copies for all the applicants
  • Cheque / Draft in INR for fees (as per applicable rate) and the date must be in.
  • Pan Card copy of Co Applicant
  • Address Proof of Co Applicant (Latest Telephone Bill /Electricity Bill)
  • Power of Attorney document as per Bank Format duly signed by all the applicants
  • Authority letter duly signed by all the applicants as per Bank specified format
  • Company details as per our format
  • Copy of current overseas residential verification proof of all the applicants to the loan. (Driving license or bank statement showing overseas address or latest insurance premium receipt or utility bill)
  • Copy of PAN Card for the Ist applicant OR Form 60 as per bank format
  • Self attested address proof of all applicants
What is the need for NRI Personal Loan?
NRI Personal Loan is taken to fill as a short term capital fund for business expansion or for any urgent requirement. Be it a loan for a holiday abroad, your child's education loan, a loan for home renovation, a loan for a marriage or wedding in the family, an emergency or even buying that precious gift for your loved one NRI Personal Loan is the best option. Fulfill all your financial needs with hassle free Personal Loan, which are designed to help you live life at the fullest. NRI Personal Loan can be obtained with simple documentation, quick processing and speedy disbursal.
Who are eligible for NRI Personal Loan?

The general factors taken into account while determining eligibility of NRI Personal Loan are Listed below:

1. Age (Min. 21 Year )

2. Maximum 58 age at time of closure of the loan for the salaried

3. Maximum 65 age at time of closure of the loan for the self employed

4. Total work / business Experience 3 yrs

5. Indian resident

Who can avail NRI Personal Loan?

Following are the list who can avail for NRI Personal Loan which is as follows:

Self Employed Individuals/Professionals

Proprietorship Firms / Proprietor

Partner in Partnership Firms

Director in Private Limited Companies

What all document are required for applying for a NRI Personal Loan?

1. Identity Proof

2. Address Proof

3. Bank Statement (Latest 12 months)

4. 3 Months pay slip / Last 3 yrs ITR along with other relevant docs like Balance Sheet, P&L, Audit Report (Certified by a CA)

5. 3 years Form 16 / Business proof

6. All Loan Sanctions Letter

Please refer the complete list of documents on our website in the document section of Personal Loan.

What is the process involved in availing NRI Personal Loan?

Following are the list of the documents required for NRI Personal Loan:

• Application

• Documentation

• Processing

• Sanctioning of the Loan

• Disbursement

The Process may vary from bank to bank in which they will do your verification of documents, residence, office, and cibil check.

What are the loan tenure options for NRI Personal Loan?
NRI Personal Loan generally is available for 12 months to 5 Years. It may vary from bank to bank.
How much amount can I borrow in NRI Personal Loan?
It mainly depends on your financial profile, credit reputation, the purpose of borrowing the loan and your loan repayment ability. Lenders (Banks and NBFC's) evaluate these factors to consider what the amount of an NRI Personal Loan should be.
How to apply for and get a NRI Personal Loan?

You just need to visit our website to upload the documents or call our professionals for your NRI Personal Loan. Creative Finserve gives you personalize solution and helps you to meet your financial requirement. In fact our professional team will suggest you the right product / services suitable to your requirements.

How is the interest charged/calculated in NRI Personal Loan?

In NRI Personal Loan interest is calculated on a monthly reducing basis which means interest is calculated on outstanding principal amount left after payment of each installment.

What security/collateral do I have to provide in NRI Personal Loan?

In NRI Personal Loan no security/collateral is required. This is totally NRI form of lending where your eligibility is calculated on basis of your income.

Will an existing loan affect my application for NRI Personal Loan?

For any loan your eligibility and credit history is taken in to consideration. So in NRI Personal Loan Your eligibility is calculated as per your income and the existing loan (obligation).

Who can be the co-applicants for NRI Personal Loan?

Generally in NRI Personal Loan no co-applicant is required, but if they ask for than any individual who has the ability to repay the loan as per the bank standards residing in the same city can be taken as co-applicant. This requirement varies from case to case and Bank to Bank.

How do I repay the NRI Personal Loan?

In NRI Personal Loan you can repay it through PDC (post dated cheque's) or ECS which is termed as EMI (Equated Monthly Installments)

Can I pre-pay my NRI Personal Loan?

Yes you can pre-pay the loan after repaying a min. of 6 EMI's to 12 EMI's. Foreclosure charges would be applicable as per the banks term and condition.

How much time does it take for the disbursement of the NRI Personal Loan?

In NRI Personal Loan the disbursement takes Approx 10 working days after all the documents are submitted. Since it is NRI form of lending it does not require valuation and legal and hence the process is very fast.

Should I compare Personal Loan online?

Comparing Personal Loan online depends on many factors such as your salary, company in which you are working, your obligation (existing loan) etc,. In online approach you will get general comparisons while you can get a personalize solution from Creative Finserve, which will help you with the best rate of interest and services for Personal Loan.

Should I apply Personal Loan online?

There is no process for applying online Personal Loan unless and until you have a relationship with the same bank. Creative Finserve gives you a personalized solution for Personal Loan, so why to confuse yourself with online approach if you can get better rate of interest and maximum eligibility through Creative Finserve.

Who all can apply Personal Loan online?

Customers having online banking can approach their respective banks for Personal Loan through net banking and get information about Personal Loan. Appling online Personal Loan will give you information of your bank, and if you apply through us you will get information about other banks for better rate of interest, foreclosure charges, tenure and processing fees.

What are the drawbacks on applying for Personal Loan online?

Appling online Personal Loan will give you information about particular bank. And if you apply through us our professionals will get exciting offers from other banks for better rate of interest, foreclosure charges, tenure and processing fees.

What is Personal Loan eligibility calculator?

Personal Loan eligibility calculator is a mechanism where you can calculate your Personal Loan eligibility by sharing your information such as your salary/income. This loan eligibility calculator cannot get you the exact loan amount so we recommend you to get in touch with our professional team to serve you better.

How to get best rate of interest for Personal Loan?

Rather than hunting in the market or approaching unprofessional consultants for better offers give your few details and upload your few documents and get a personalized solution for your Personal Loan for better rate of interest in few minutes from our professional team.

How will I get best rate of interest for Personal loan?

Since Creative Finserve has immense experience and tied up with all multinational and private banks, we would be able to guide you and give you the best deal available in Personal Loan.

What is Personal Loan EMI Calculator?

Personal Loan emi calculator is a process where you will be able to come to know the exact Personal Loan emi (installments) which includes principal and interest component according to your requirements.

How can I get personalized solution through creative finserve for my Personal Loan?

We professional at Creative Finserve puts our best effort to give you a complete personalized solution. We take the pain of coordinating with various banks for you to give the best offer and service available in Personal Loan.

How to choose the right bank for my Personal Loan?

Choosing a right bank for Personal Loan is a cumbersome process, Creative Finserve guides you properly according to your requirements and gives you a personalize solution for your Personal Loan.

How I will come to know whether my Personal Loan is sanctioned or rejected?

Once your Personal Loan is sanctioned or rejected you will get a sms alert or call from the bank and if you have applied through us we will coordinate with the respective banks and inform you.

What is preapproved Personal Loan?

If you are a account holder or a credit card holder with multinational or private banks with good track record and healthy transactions banks might offer you a preapproved Personal Loan. Sometimes preapproved loans are costlier affair because banks offer you at higher rate of interest, so we recommend you to call us or upload your documents for personalized solution to get best offers on Personal Loan available in the market.

Is balance transfer of Personal Loan suggested?

It depends upon the current rate of interest of your existing Personal Loan as against the rate of interest available in the market. We recommend you to compare both the offers in our loan comparison calculator or else call us to get a personalized solution for your Personal Loan.

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