29 July 2011
Buy a Home in India Staying in Singapore-Home Loans
There are many Indians settled or working in Singapore and it has become one of the hottest destinations in the world. Many Indians have settled abroad for professional or personal reasons and they do loan to have a place of their own in their mother land. This has become very simple now with the government offering loans to NRIs settled abroad even counselling and selection of home scan be done with the services offered by many banks.
Like any other country even for people staying in Singapore the HDFC bank has a representative who will guide, and counsel borrowers and they need not be physically present in India for all these home loan procedures. With online banking and finances available it has become very easy to purchase a home in India staying in Singapore.
The loan amount an borrower can get will depend upon the financial repayment capacity of the borrower as well as their qualification and age. A maximum of 80% of the total properly cost can be got as home loan from the bank and the remaining 20% has to be arranged by the individual as down payment and other administrative charges. Since the currency the funds will be available will be different a conversion rate calculator is a must to get the right figure and amount available for loan as well as EMI amount which will have to be paid every month.
The maximum loan repayment tenure ranges from 7 years to 20 years which is the same for any borrower across any country. The people staying in Singapore can get the home loan from HDFC bank with fixed rate of interest or adjustable rate of interest and they will be guided for the best possible scheme for repayment options.
With the HDFC bank having an experience of over a decade in the field of home loans they have offices in many countries and NRIs can get information and counselling regarding selection of home and buying of home in their home town staying in Singapore.