PASPL made hassle free processing method for your Home Loan application. Choice of product and financial organizations are available depending on your unique needs such as buying a house, building a house, purchasing property in India, etc. Whatever be your unique needs, PASPL has a product for you.
Loan repayment tenure of up to 30 years
Doorstep service in India till disbursment
Choose from projects approved for funding
Option to avail floating or fixed interest rate
| Age | Min. 21 yrs. Max. 65 yrs. or retirement age whichever earlier at the time of maturity of loan |
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| Eligible Profiles | Salaried: 1 year of employment overseas Self-Employed: 3 years in current business overseas |
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| Tenure | Home Loan: 30 Years Home Improvement Loan: 15 Years Land Loan: 20 Years |
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| ROI | As per RBI Guidelines |
'Non-Resident Indian (NRI)' means a person resident outside India who is a citizen of India.
'Person of Indian Origin (PIO)' means a person resident outside India who is a citizen of any country other than Bangladesh or Pakistan or such other country as may be specified by the Central Government, satisfying the following conditions: (a) Who was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or (b) Who belonged to a territory that became part of India after the 15th day of August, 1947; or (c) Who is a child or a grandchild or a great grandchild of a citizen of India or of a person referred to in clause (a) or (b); or (d) Who is a spouse of foreign origin of a citizen of India or spouse of foreign origin of a person referred to in clause (a) or (b) or (c). For the purpose of this sub-regulation, the expression 'Person of Indian Origin' includes an 'Overseas Citizen of India' cardholder within the meaning of Section 7(A) of the Citizenship Act, 1955.
An 'Overseas Citizen of India (OCI)' is a person resident outside India who is registered as an Overseas Citizen of India Cardholder under Section 7(A) of the Citizenship Act, 1955.
Yes, you need to visit India to avail a Home Loan, after application process and sanction Loan disbursement can be executed through Power of Attorney (POA).
A Power of Attorney (POA) is a resident Indian appointed to act on behalf of all the applicants through an execution of the General Power of Attorney (GPA) deed. It is mandatory for both the applicant and co-applicants to execute the GPA in favour of the person concerned. If the co-applicant is a resident Indian, he/she can also be the POA through the execution of the GPA by the applicant.
Any resident Indian appointed to act on behalf of all the applicants through an execution of the General Power of Attorney (GPA) deed. It is mandatory for both the applicant and co-applicant to execute the GPA in favour of the person concerned. If the co-applicant is a resident Indian, he/she can also be the POA through the execution of the GPA by the applicant.
You can apply for an India Home Loan even before you have selected your property. Bank will sanction a loan amount, based on your repayment capacity.
A co-applicant is not mandatory to avail a Home Loan. Personal Guarantor is required if there is no co-applicant. The co-applicant may be a resident Indian or an NRI.
Co-applicant can be son, daughter, sister, brother, parent or spouse. We can include your spouse’s income to enhance your loan amount. Further, if there are any other co-owners, they too will need to be co-applicants.
Your loan will be disbursed after you have selected a property; submitted all the necessary legal documents; the property is technically and legally cleared; and you have paid your own contribution toward the purchase of the home. The cheque for the loan amount is drawn in favour of the builder or seller as the case may be. In the case of an under-construction property, Bank disburses loan amounts appropriate to the state of construction.
You can prepay part of the loan at no cost during the tenure of the loan.
