A Non Resident Indian (NRI) is an individual who is an Indian Citizen but has migrated to another country permanently or temporarily for the purpose of Employment, Education etc. NRI must be a graduate. Educational qualification may not be a constraint for resident Indians. Most of the Banks stipulate that the NRI should have a monthly income of $ 2,500 per month. This yard stick may vary from bank to bank. they need to submit certain additional documents like copy of the passport, a copy of the works contract. A Resident can pay through post dated cheques or through savings bank account. But NRIs should repay the loan through Non Resident External (NRE) or Non Resident Ordinary (NRO) account cheques only. they may not be in position to sign on all papers and enter in to agreements for the purchase of apartments in Hyderabad. So, they need to submit a power of attorney to get a housing loan.
Note: all the documents should be self attested
Income documents for Employees.