A guide to NRI home loans
April 29, 2016
NRIs need to meet minimum age and work criteria to take a loan One of the most sought-after investments for Non-Resident Indians (NRIs) is buying property back home. At a time when the Indian rupee is weakening against the US dollar, taking a home loan in India could be a good option for the NRIs rather than using up all the money earned in the foreign currency. Are NRIs allowed to take a home loan in India? Yes, they have. “NRI Home Loans” are offered both by banks and Non-Banking Financial Companies (NBFCs). Here we take a look at what is required to avail this loan and how it differs from a normal loan taken by a resident Indian. Eligibility
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On the NRI investment trail – Prefers NRI accounts
August 26, 2015
Non-Resident Indians (NRIs) earn in dollars, euros or rials, and can invest anywhere in the world. But Meera Siva finds that many of them prefer to invest a large part of their savings in India Durga Iyer, 32, is a management consultant in Boston, US. She says the family has not decided on the country in which they want to settle down and has therefore split the investments equally between India and the US. The savings are for long-term goals, such as retirement and her child’s education. So, she has made long-term investments, such as real estate, and a combination of debt and equity funds. She believes in doing the research herself but takes guidance from her parents, who are
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On the NRI investment trail – 80 per cent invested in India
August 26, 2015
Non-Resident Indians (NRIs) earn in dollars, euros or rials, and can invest anywhere in the world. But Meera Siva finds that many of them prefer to invest a large part of their savings in India Abhishek Dubey, 34, has an MBA from IIM Ahmedabad and is working as Senior Marketing Manager at Johnson and Johnson Consumer, Singapore. His wife is also an IIM-Ahmedabad alumnus and the couple have two young kids. Dubey says he strongly believes in the India growth story. “Almost 80 per cent of my investments are in India with only enough liquidity to cover the cost of living and exigencies here in Singapore. The interest rates in developed markets are low. It doesn’t make sense to have
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Now, NRIs can invest in chit funds
August 26, 2015
KSFE to tap Malayali diaspora, forecasts a quantum jump in chit fund businessCAMS In a significant development, the Centre has recently allowed non-resident Indians (NRIs) to invest in chit funds by making necessary amendments in the Foreign Exchange Management Act (FEMA) regulations relating to permissible capital account transactions. Chit funds are savings products (that can also be converted into a credit instrument) that enable households to save money in a disciplined way as well as provide small enterprises an avenue to raise money quickly. These funds are quite popular in south India and more particularly in Kerala. The move would enable the Kerala State Financial Enterprises (KSFE), an arm of the Kerala state government synonymous with the chitty business in
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On the NRI investment trail – Moving more funds to India
August 26, 2015
Non-Resident Indians (NRIs) earn in dollars, euros or rials, and can invest anywhere in the world. But Meera Siva finds that many of them prefer to invest a large part of their savings in India Vijay Sridharan, 35, is an investment professional, currently in Muscat. He started as a trader in the Indian market but has realised the importance of being a long-term investor. Sridharan is currently underweight on India with only 40 per cent of his assets invested in India. Why? “There have been two-three IPOs in a year in the Muscat market and retail investors have made an average return of 30 per cent in the short term and over 50-60 per cent in the long term. In
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