Search This Blog

29 July 2011

What is the meaning of Power of Attorney and Whiy it is Important for NRI Staying Abroad

With the rise in housing projects builders and developers are luring the customers to purchase homes by many offers and perks. Some offer LCD TV sets. Others offer air conditioners whereas some others offer fully furnished flats! Not only are people from India settling for luxurious homes even the NRIs are wishing to purchase a home of their own in their home towns. With this need many reputed banks and lending institutions are willing to offer home loans to people staying abroad. How is it possible to do all paper work and legal procedures when the borrower is not staying in India? People staying abroad and having a base in India can purchase property, land or house in India with the help of making a stamped document of power of attorney.
This power of attorney can be made with the help of bank counsellor and legal lawyers who can guide the non resident Indians to allow some other person of their family or a close friend to do all the required paper work here in India. The sole power will lie in the hands of the member selected by the borrower and who will do all the paper work and formalities required for the procedure of borrowing of the home loan.
This document like any other power of attorney will give the person rights to make any decisions, sign documents and also make financial decisions on part of the NRI. Since this person having the power of attorney can negotiate, purchase, sell or even mortgage property on behalf of the NRI. The NRI will be responsible for payments, financial EMI dealings and any bank changes of interest as well as schemes. The NRI who may submit money in the bank in foreign currency that can be converted to Indian rupees will allow the selected person to handle all his financial decisions and matters regarding the proceedings of this home loan. The HDFC bank offers guidance and legal advice to their customers as well as NRIs staying in Middle East, Singapore and many other foreign countries.
Advantages Disadvantages of Joint Home Loans
With opening a bank account in the name of the NRI to all the proceedings of application for loan and loan approval all will be signed by the person who has the power of attorney. In case of any problems the power of attorney given this person can take the required action of legal matters regarding this loan amount. It is also his responsibility to submit the regular amounts decided as Emi every month and keep regular follow up of the home loan.
Loans for everyone and staying anywhere is the latest mantra of lenders and banks to lure the NRI customers and get foreign currency to our home land. Since so much authority and power is given to this person the NRI must be very careful in handing over the power of attorney to anyone. A trusted family member or friend can be selected and handed this responsibility and then purchasing a home in India which was a dream may become true with the help of a home loan.
How to settle Joint Home Loan Issues in case of Divorce
Tips for Joint Home Loans for Love Marriage Outside Community
Feng Shui Consultation


  1. I have found here much useful information for myself. Many thanks to the editors for the info.

    NRI Deposits

  2. Thanks manoj for coming by Home Loans Simplified Facts and the lovely comment

  3. Thanks for giving important importation regarding home loan. As one always trouble for their own home due to low financial condition and many other issues. But i heard about Easyloansindia which is an online application and through that one we can easily search and compare cheapest home loan available, car loan and many other types of loans as per ones need.

  4. Thank you car loans for coming by my blog and the encouraging comment!!

  5. HDFC Bank offers 10-second loan nod. The offer is for existing customers of HDFC Bank, and will be available 24 hours a day. To know more , visit latest news Personal loan in Chennai

  6. I see the greatest contents on your blog and I extremely love reading them.wwwpaydayloansnorthcarolinalocationscom

  7. Your blog is a nice source of information about home loans.Get the cheapest home loan available in the Indian market at the lowest rates and the easiest manner. Get the unmatched guidance of experts without paying anything at all. Visit, leave your contact details and blow your worries away in a breeze.

  8. Hey thanks for sharing this informative blog it seems very helpful, i was looking for same kind of content about Nri Loans

  9. Read your post its really informative and helpful. Keep Updating with newer post on home loans in india

  10. Generally power of attorney is defined as the aurthority given to saome trusted person to run the bisuness in absence of actual owner the person who has this will have equal rights. For financial queries related to Free credit score and loans refer mymoneykarma

  11. Testimony on how i got my LOAN.....(

    Hello Everyone, I'm Harvey Lee a resident/citizen of the United States of America.I am 52 years of age an entrepreneur/businessman. I once had difficulties in financing my project/business.If not for a good friend of mine who introduced me to Mr Chester Brian to get a loan worth $250,000 USD from his company. When i contacted them it took just 48 hours to get my loan approved and transfer to my account after meeting all their modalities i to their loan agreement/terms and conditions. Even if you have bad credit they still offer there service to you. They also offer all kinds of loan such as Business loan,Home loan,Personal loan,Car loan,Loan for Business start up and Business Expansion. i don't know how to thank them for what they have done for me but God will reward Mr Chester Brian mightily.If you need an urgent financial assistance you can contact them today via this email ( or text (803) 373-2162 and also contact there webpage via

  12. Do you need a loan to pay your bills? Do you need personal or business loan? Need a loan for various other purposes? If yes, please contact us today for a loan. We offer the largest loan of $5,000.000.00. We offer loan 3% fixed interest rate for the duration of 1-20 years. We give two months grace period before month payment begins. So, if you are interested, In Getting A Loan Email:


  13. Thank you for sharing such great information.
    It is informative, can you help me in finding out more detail on
    nri loans.


    we offer loan to all
    categories of seekers be it companies or for staff usage. We offer
    loan at 3% interest rate, Contact us via Whats app +919205646839
    1) Full Name:
    2) Gender:
    3) Loan Amount Needed:
    4) Loan Duration:
    5) Country:
    6) Home Address:
    7) Mobile Number:
    8) Fax Number:
    9) Occupation:
    10) Monthly Income:
    11) Salary Date:
    12) Purpose of loan:
    13) Where did you get our loan advertisement:

    Good day: you need an urgent loan to solve your financial needs, we
    offer a range from $ 5,000.00 to $ 10,000,000.00 loan Max, we are
    reliable, efficient, fast and dynamic, with a 100% guaranteed and we
    also gives credit to (. euros, pounds and dollars) the interest rate
    applicable to all payday loans (3%), if you are interested get back to
    us through ( ) with the information below: full
    name: Country: Amount of the loan Address: Duration: Age: Gender:
    Occupation: phone number: Thanks. I await your urgent response
    Whats app +919205646839

  16. Good day, I'am Josef Lewis, A private loan lender who gives out loan to individuals, companies, and government establishments at a low interest rate of 2%. We know that there are lots of families out there who live on pay to pay check and others that cannot take care of their financial obligations and for this reason we are here for financial restoration. Are you looking for a loan to pay your school fees, car loan, business loan, project financing, home bill loan ETC. Kindly respond immediately via Email: OR Call/Text +1(603) 786-7565

    We offer loans up to $700,000,000.00, if you are looking for a business loan and have been denied by a bank, we can help with loans of $ 10,000 to a maximum of $ 700,000 ,000.00 that can help you get your business Rebuild and bring you on a path to a better financial future.

  17. Thank you for sharing such great information.
    It is informative, can you help me in finding out more detail on
    nri home loan.


Comment Like Share your views and experiences on Home Loans!