How Much Personal Loan Can an NRI Get in India?

Many people usually relocate abroad due to various reasons. It can be pursuing education, getting better job opportunities, or starting a new life. Most individuals like the idea of relocating to other countries. But, adapting to a new environment can be difficult, and obtaining financial support abroad can be hard.

Indian financial institutions provide financing options to the NRIs so they can access the necessary funds to meet their requirements. If you are an NRI, you can easily get a small cash loan from an Indian Bank to help cover your financial necessities. But you must be eligible first. You should meet the set eligibility requirements by the banks to obtain such a loan.

But many NRIs wonder how much they can get in India. This post is for you if you are an NRI living in a foreign country. We’ve gathered essential personal loan information, which NRI can get in India. Moreover, as a bonus, you’ll know the eligibility criteria required. Let’s get it rolling!

Who’s an NRI

An NRI (Non-Resident India) is an Indian Citizen who hasn’t been residing in India for more than 182 days during the preceding financial year. A person who has left India to work, conduct business, or for another purpose indicating their intention to stay abroad indefinitely is known as a Non-Resident Indian (NRI).

NRIs no longer have to be restricted in their financial goals since personal loans can help them accomplish multiple milestones. These could include big purchases, home renovations, dream weddings or education.

For NRIs looking for a small cash loan, here are the top banks in India to consider:

  • ICICI Bank
  • State Bank of India
  • South India bank
  • Kotak Mahindra

NRI Personal Loans Offer from Different Indian Banks

If you’re an NRI and in a tight financial position, here are the best personal loan options offered by top banks:


If you are NRI, you can get a personal loan of up to 10 lakhs from ICICI Bank without collateral. Besides, the application process is very simple and with quick processing, thanks to the minimal paperwork required. Interest rates start at 11.25% annually, and you can receive a maximum repayment tenure of 3 years for the loan. Once you receive your money, you can cover the expense you want. Whether traveling, paying for personal needs and fees or medical expenses, you are free to use the funds on anything. ICICI Bank levies a processing fee of up to 2.25 percent on the loan amount they grant you.

South Indian Bank

The South Indian Bank is another bank offering personal loan for salaried individuals in foreign countries. You can get a maximum of Rs. 25 Lakh for medical bills or vacation. Mostly, the targeted people are the salaried working in government-owned organizations and private firms, self-employed professionals and non-professionals such as wholesalers and traders. The repayment period is 5 years, with interest rates starting at MCLR +2.2% and processing fees of 2% on loans sanctioned.

State Bank of India

SBI provides multiple loan products for NRIs, like loans against deposits and car loans. To obtain this facility, you must satisfy the bank on your income or any of your existing deposits and properties. Furthermore, your NRI account will need an average balance of Rs 50K. The plus is that no hidden charges are involved, and the processing cost is lower.

Kotak Mahindra Bank

The Bank offers small cash loan on Aadhar card for Home Improvement Loan to make renovating your home easier. This personal loan needs less paperwork and is processed fast. You can receive a maximum of 80% funding of the costs incurred in the home renovation. The repayment options are very convenient.

Eligibility Criteria for NRI Personal Loan

Do you want to take out a Personal Loan as an NRI but aren’t sure if you meet the requirements? Here are the common eligibility requirements for a personal loan you should meet:

Salaried professionals: Obtaining an NRI personal loan for salaried is simple for salaried professionals working abroad. You must have worked at your current job for at least one year and provide documentation to prove your working history.

Self-employed professionals: If you are an entrepreneur outside of India, your business should have at least three years. Furthermore, if you have other assets you own in India, you are likely to get the loan.

Income criteria: Steady income is a significant factor for loan approval. To be approved for a personal loan for NRI, lenders should know if the borrower has earned a consistent salary in recent years and will continue doing so. The required minimum pay varies depending on how much you are applying for and the country you’re working in.

Co-applicant: When you apply for a personal loan for NRIs, lenders will ask for a co-applicant who is your close relative. The co-applicant must sign the loan agreement and submit address and identity documents for verification.


You now know the amount an NRI can get in India. When you decide to reside in another country, your lifestyle and financial management significantly change. However, an NRI can still get the benefits the Indian Banks offer to place their financial needs in order.

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