Connect with us

Business

NRIs Can Also Avail Home Loans, But Keeping These 3 Conditions in Mind

Published

on

NRI HOME LOAN

Are you an NRI with dreams of owning a home back in India? Well, there’s good news for you! Most banks offer what’s known as an NRI Loan that you can use to overcome the obstacle of sky-high property prices and become the proud owner of your own home.

An NRI Home Loan will offer you up to 90% of the property’s value as the loan amount at interest rates that are similar to, if not the same as the interest rates applicable on normal resident loans. However, there are a few conditions that come with these loans and this article will highlight them for you to ensure you are not blind-sided and go in for the home loan fully prepared.

1. Conditions On The Property You Can Buy.

In many ways, an NRI Loan is quite similar to a resident home loan, and this is evident when we look at the types of properties and purposes these loans can be used to service. For example, a resident home loan can be used to buy a new home, a resale home, a plot, a bungalow and it can also be used to fund the cost of construction, home extension and improvement as well; which is just the same with a home loan for NRIs.

However, there is a condition that applies and it states that NRIs cannot use the loan to purchase agricultural land or a farm house. In such cases, approval from the RBI would be required before moving ahead.

2. Eligibility Conditions Of An NRI Loan.

Where a normal resident loans’ eligibility criteria is decided on the basis of your credit score, financial position and repayment capabilities, an NRI Home Loans’ eligibility criteria comes with a condition that also considers your education qualification whilst deciding whether or not your loan application is approved and the extent of funding you are provided. Some lenders require you to be at least a graduate, degree holders or diploma holders to be eligible for an NRI Home Loan.

Further, some lenders will only provide you an NRI Home Loan on the condition that you have a certain minimum salary. If you are in the USA, some lenders might require this salary to be above $30,000 a year and if you are in the Gulf, some lenders might require you have a minimum salary of 36,000 dirhams a year.

3. Repayment Conditions Of An NRI Loan.

This is probably one of the biggest conditions that come with a home loan for NRIs. One has to make the payments towards the home loan in Indian rupees only. Further, the payments can only be paid through an NRE or NRO account. This applies both for the EMIs and the down payment as well.

These are three biggest conditions that apply to an NRI Loan. We hope this article has been helpful and has provided you a useful heads-up that will keep you well informed if and when you do opt for a home loan for NRIs

I am a financial blogger since 2005, I am currently Working at All About Loan India as financial blogger, I love to share blog or article on Home Loan Plan and Policy, Mortgage Loan and Interest Rates on housing loan.

Continue Reading
Advertisement
Click to comment

Business

Here Is Why You Need to Make Psychometric Assessment A Part of Your Company’s Recruitment Process

Published

on

 Here Is Why You Need to Make Psychometric Assessment A Part of Your Company’s Recruitment Process

If you have finally realised that traditional methods of recruitment fail to select the right candidates for any company, it’s time you opted for something more specific and valuable than interviews. What are we talking about? Well, we are talking about incorporating psychometric tests into your recruitment process.

With a psychometric test, it is possible for an employer to predict the personality, mental reasoning, attitude, behavioural patterns, etc. of the candidates that have applied for the vacant job positions in their company. With the right psychometric assessment test, you can find the most appropriate employees for your company; and you won’t have to do with average candidates anymore.

So, have a look at these amazing benefits of opting for psychometric assessment-

  1. Psychometric assessment is essential for the identification of personality traits of the candidates. Psychologists say that there are six basic personality types under which most people fall. Social, realistic, enterprising, investigative, conventional and artistic are these 6 personality types. Now, you don’t need all of these traits for a particular job position. But to make sure the position you want to fill gets the right person with the right personality, you will have to be able to figure out the personality traits of the candidates that have applied for the post. Psychometric assessment helps you do this in an effortless manner. Which a good assessment, you will also be able to know whether a particular candidate will be able to adjust with the existing work culture in your company, and if their personality will clash with other personalities at the workplace.
  2. Personality assessment is important because it puts all candidates on a level playing field. With a psychometric assessment test, you will not just be able to figure out the suitability of a particular candidate for a particular role but will also be able to predict their behaviour. Besides, you’ll be able to find out the weaknesses and strengths of the candidate with respect to the job requirements. And the fact that almost all psychometric tests are standardized, gives you enough reason to opt for them. With a standard questionnaire, the applicants get the same objective and unbiased questions to answer. So, they don’t feel cheated on.
  3. If you thought psychometric tests could be fake, then you couldn’t be more wrong. There is no dearth of candidates who give misleading and false answers to questions just because they think doing so will make them seem more eligible for the job. Thankfully, this is not something candidates can do in a psychometric test. Good psychometric tests are constructed keeping in mind this possibility. So, false answers can easily be detected.

Psychometric tests are a boon to any company desiring reliable candidates for their vacant job positions. Hence, if you are looking for the best way to rein in good candidates, then using psychometric assessment would be ideal. A good psychometric assessment test will simply add validity to the entire recruitment process and you can be sure of hiring the best employees available out there.

Continue Reading

Business

What is the zerobank and what it offers?

Published

on

Blossoming of the cryptocurrency as well as blockchain technology has motivated the pioneers of the present world. The technologies of today have brought about the opening of locked doors as well as it has led to the creation of new currencies. Even though the cryptocurrency has a huge impact on the global economy yet it is not recognized as “money”. It will take some time for the new market to get stabilize and the pioneers to figure out the way to compete with deep-rooted fiat currency. However, still the world economy is functioning by a legacy system of 164 authorized national currencies and the problem of exchanging these currencies persist till now.

What is Zerobank?

It is an innovative money exchange platform allowing the customers to make non-commercial transactions globally and also it launches its initial coin offering to the participants. This platform makes use of the smart contracts as well as blockchain technologies and aims to remove the traditional remittance as well as exchange systems.

It helps in peer to peer sharing of the economy and here, the earned money from the centralized organization goes back to the community. In addition to blockchain technology, this project makes use of the shared economy model. This model maximizes the benefits for the user who uses this system by cutting down all the intermediary costs from Money transfer organization and current banking. Zerobank offers an opportunity to its participants to become an agent as well as earn the extra money by bringing up the valuable services to the people around them.

ICO information-

The total number of security token issued is 1,600,000,000 ZB and the number of security token available for the sale is 640,000,000 ZB. The amount of this target sale is about 48 M dollars and the pre-ICO bonus offered will be 15%.

If you want to know further about the token sale then visits its official link. Zerobank has a team of the experienced IT members, the senior executive in top money exchange/ transfer, banking as well as financial service organization. Kai yee goh is the CEO who is also a senior executive in the transfast, united financial group, Harte-Hanks, PayPal and Western Union. Also, bao ly CTO, who is expert IT architect in financial and banking services, is present in the team. He has extensive work experience in consultancy as well as an architect as his work in the BNP Paribas Fortis, HSBC and AXA.

Other team members of the zerobank are also well-known individuals; the team of zerobank is working to disrupt the present exchange and money transfer services available worldwide. Hurry up and make use of this amazing platform today. Becoming the part of this platform you can gain various benefits and get solution to the traditional banking problems. If you are a tour guide, salesman, or student and searching for the job opportunity then this platform are made for you. Become the agent of zerobank today. Before using this platform makes sure you read its terms of use and policy.

Continue Reading

Business

Diamond Power Infrastructure on a transformational spree with Digital India program

Published

on

By

India, being one of the fastest growing economies in the world, is witnessing a digital revolution. PM Narendra Modi has trotted out numerous programs to promote Digital India, ensuring digital inclusion across the country. On this note, Amit Bhatnagar Diamond Power MD, has digitally-empowered his company, in the field of manufacturing power transmission equipment.

Diamond Power Infrastructure Ltd, also known as Dicabs, was the first Indian company to manufacture alloy conductors and proto-test HSHC (High Strength and High Conductivity) conductors. Today, Dicabs is the only company in India, which holds a BIS mark certification for alloy conductors.  It also complies with the ISI quality standards for manufacturing all types of conductors.

The Vadodara- based company has also established India’s headmost ‘continual horizontal lead extrusion facility’, along with the ‘aluminum corrugation facility’ for cables (66KV). Dicabs is also ranked at the fifth position in the world, for manufacturing extra high-voltage cables up to 550 KV.

The homegrown companies are getting new opportunities to grow, as the Centre has reduced imports in the segment. India is on a transformational spree, and will become a hub for technology and innovations in the coming years. The initiative has already received pledges from Diamond Power Infrastructure Ltd and other corporate ventures, with investments worth Rs 4.5 lakh crore. This figure is expected to surge as the ‘Make in India’ campaign gains momentum.

Amit Bhatnagar Diamond Power

Amit Bhatnagar believes that quality and technology go hand in hand. Being a technocrat, he has always supported technology by reining on state-of-the-art technology for all business operations.

His ability to sense, envision and adapt to change pertaining to technology has been the company’s key growth driver, since the initial years. “With India progressing on the path of innovation and technology, Dicabs would unremittingly partner its journey towards successful frontiers. Simultaneously, we would continue to adapt to as well as lead the change through proactive investments in technology,” says Amit Bhatnagar.

Continue Reading
Advertisement

Facebook

Advertisement

NEWSLETTER

Advertisement

Trending