💳 Property

NRI home loans — 6 banks compared

Updated May 2026

Rates below were last verified in May 2026 and home loans are repo-linked. The RBI moved the repo rate to 5.50% on 8 October 2026, and lenders reprice within weeks — ICICI’s current card is explicitly valid only to 31 October 2026. ICICI’s 8.75% standard floor was re-confirmed on 11 October 2026; the other five have not been re-checked since May and several lenders’ floors have fallen since. Treat these as a shortlist of who to approach, not as today’s quote — confirm the rate with the lender before you act.

Rates 8.5–9.5%, max LTV 75–80%, tenure up to 30 years. Income proof from overseas employer + NRE/NRO history required.

⭐ Top picks · digital + NRI-friendly

ICICI Bank

⭐ Top digital experience

verified 11 Oct 2026 · ICICI rate card valid to 31 Oct

not re-checked since May 2026 · repo moved 7 Oct

Axis Bank

Best for self-employed NRIs

not re-checked since May 2026 · repo moved 7 Oct

Public sector + specialised

SBI

Cheapest rate · branch-only

not re-checked since May 2026 · repo moved 7 Oct

Kotak Mahindra

Best for US-NRIs (no FATCA flight)

not re-checked since May 2026 · repo moved 7 Oct

not re-checked since May 2026 · repo moved 7 Oct

📌 Editor's Picks · May 2026

For most NRIs, ICICI wins on digital. SBI wins on rate.

ICICI processes most of the loan online from your overseas address. SBI undercuts on rate by 35-50bps but requires a branch visit (or a power of attorney + Indian co-applicant). HDFC sits in between — branch experience but excellent NRI service desk.

Online-first applicant · busy NRI

→ ICICI NRI Home Loan (8.75%)

Application + sanction + disbursement entirely online if you already have an ICICI NRI account. 80% LTV, 30-year tenure. Processing fee 0.5% capped at ₹50K.

Lowest rate · willing to do paperwork

→ SBI NRI Home Loan (8.40%)

35-50bps cheaper than private banks. On a ₹1cr loan over 20 years, that's ~₹6L saved. But branch + papers + Indian co-applicant typically required. Worth it for cost-conscious NRIs with India trip planned.

US-NRIs · FATCA-friendly

→ Kotak NRI Home Loan (8.85%)

Kotak doesn't push back on US-NRI applicants the way some other banks do. If you've had FATCA friction before, Kotak's NRI desk handles it cleanly. Rate slightly higher but cleaner process.

Next up

Property tax · TDS, cap gains, FATCA

TDS 1% on sale (Section 194-IA), 20% LTCG with indexation if held 24+ months, stamp duty by state. US-NRIs file Form 8938 + FBAR if value > $50K. Repatriation: $1M/yr from NRO via Form 15CA/CB.

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