NRI Investments

Are you an NRI waiting to invest in India? We offer the best programs for investing in India, as well as obtaining loans in India. NRI Investment (NRI r2i) NRI 's are permitted to invest their funds in government securities or units of UTI through authorized dealers. NRI investments are also allowed in national savings certificates subject to the terms and conditions of the issue/sale of such certificates. NRI 's are not allowed to invest in Kisan Vikas Patra or Indira Vikas Patra. Government securities can be freely transferred or sold provided it is arranged through an authorized dealer. Banks holding authorized licenses or banks authorized on behalf of the Reserve Bank can hold and maintain accounts in the names of NRIs. Non-resident Indians are allowed to maintain accounts in rupees, as well as foreign currencies. Accounts in foreign currencies can be maintained only with authorized dealers. Authorized dealers are permitted to grant loans/overdrafts abroad to NRIs through overseas branches and correspondents. Authorized dealers are permitted to grant loans/overdrafts abroad to NRIs against the collateral shares or debentures of the Indian companies that they hold, provided that the concerned shares or debentures were acquired on a repatriation basis. The NRIs are allowed to make investments in new issues of shares/ convertible debentures of Indian companies under investment schemes such as 24% scheme, 40% scheme or 100% scheme. NRIs may also start to initiate many savings and investment strategies for their return to India (r2i). The non-resident Indians should check out the following aspects before retuning to India: Foreign exchange regulation Tax laws of India Insurance Retirement NRI banking Loan for NRI (Financing NRI, Loan against NRI Funds) The NRI loans are made available for the following purposes: Self-construction of a property on a plot of land Finance the purchase of a plot of land allotted by a society/development authority Renovate/improve an existing property in India Purchase of a house either under construction or on a resale Non-resident Indians are also permitted to purchase an existing house or flat. The RBI has not prohibited banks from providing financing to NRIs for the purchase of a second house, but the loan on the house is for the self-occupation of the NRI upon their return to India. Loans are also offered to NRIs against NRE deposits. These loans can be repaid out of NRE funds but the interest would be charged at a commercial rate. Loans to Non-Resident Indians are also provided against FCNR deposits. The following criteria is noted while financing a Non-Resident Indian: Current job profile Past experience Qualification Possibility of continuing abroad for a loan tenure The State Bank of India specifies that repayment of the loan should be made by the NRI within a period not to exceed 15 years, and in equal monthly installments comprised of principal and interest including all service charges. Payment could be made from abroad through normal banking channels or out of funds in the non-resident Indian's FCNB, NRO or NRE account in India. Back to Top