NRIs or Non-Resident Indians, as the name suggests, these individuals or entities are the Indian citizens who have their origin in India but are residing in some other country. These individuals or entities are also known as Person of Indian Origin or Overseas Indians. These individuals or entities were either born in the Republic of India or have ancestors who were born in India. This status is defined mostly in the context of the tax laws of India.
Remember those relatives who lived outside India, who used to come to your place during summer vacations, and got delicious chocolates for you from abroad? You and your family used to prepare for months on end for welcoming those guests. Those are the people who are considered as NRIs (Non-Resident Indians).
The craze about being an NRI (Non-Resident Indians) is still the same, and the only difference is that as you grow up you, the challenges the individuals or entities with status have to go through. People go abroad for many reasons. It could be due to a job or education. Juggling through places is quite difficult. The government has various rules and regulations for Non-Resident Indians.
The only thing that is extremely simple for NRIs (Non-Resident Indians) is to get a personal loan. Now, emergencies don’t warn and enter in life. They come at an unwanted time and cause a lot of trouble. In such a situation, an NRI (Non-Resident Indian) can avail of the credit facility of a personal loan.
The benefits for an NRI to get this type of credit are:
· The loan is granted without any collateral,
· Instant loan approval and disbursal, and
· Feasible interest rates.
This advance has to be applied for with a co-applicant. The co-applicant has to be a close local relative of the applicant Non-Resident Indian (NRI). Getting a co-applicant with a good credit history will be beneficial for the Non-Resident Indian applicant.
The documents required are:
1. Passport,
2. Visa copy,
3. Bank statement (past 12 months),
4. Identity proof,
5. Residential proof, and
6. Salary slips or audited financial statements.
There are no restrictions on the funds sanctioned by the financial institutions (banks and non-banking financial companies) to the NRI individual or entity. Besides this, the process does not involve any complicates steps. Fill in the application, attach documents, and submit it.
These are the basic steps that have to be followed. The cost does not change just because a borrowing individual or entity is an NRI. The personal loan interest rates are relatively low, irrespective of the status of the individual or entity. Very few financial organizations provide this credit facility to NRI and ICICI personal loan is one of them.
Whether an individual or entity is still a part of this nation or not, this place will always be there to support in every way if any help is needed. Financial assistance is available at affordable rates for Non-Resident Indians as for them, it could be difficult to obtain an external source of finance in other countries.
To know more about your viable options visit Dialabank. Dialabank is India’s first financial helpline with services available in various cities. It provides information related to the personal loan by various banks and non-banking financial companies. An individual or entity can easily go to Dialabank’s website, go through all the required details that they need to, and find a suitable policy without any hassle.
Comentarios