A number of new entrants to the market have made loans a lucrative option to buy residential property. Increase in ceiling for individuals on deduction of interest on borrowed capital and enhancement of rate of depreciation for companies have given a virtual boost to housing. A comparative analysis of various housing loan schemes for the non - resident Indians.

A Comparative Analysis of Housing Finance Schemes for NRIs

Name of the institution	Maximum loan (Rs)	Rate of interest (p.a)	Repayment period	EMI (for loan of Rs 1 lakh)	Process fee
Housing Development Finance Corporation Ltd	50,00,000	13 - 14	3 - 5 years	Upto 3 years : Rs3530 Upto 4 years : Rs2802 Upto 5 years : Rs2370
LIC Housing Finance Ltd	50,00,000	13.5% - 15%	15 - 20 years	13.5% 14.5% 15% Upto 5 yrs :  2398  2457  2486   Upto 6 yrs :  2114  2172  2202   Upto 7 yrs :  1914  1973  2003   Upto 8 yrs :  1766  1827  1857   Upto 9 yrs :  1654  1715  1746   Upto 10 yrs :  1567  1629  1660
ANZ Grindlays Bank	Upto Rs 1 crore		7 years
State Bank of Travancore	25,00,000	13 % - 14%	15 years		0.5% of the loan amount
GIC Housing Finance	30,00,000	13.5% - 14%	5 - 15 years	5 yrs - 2300  2326  2379 10 yrs - 1523  1552  1613
Can-Fin Homes	25,00,000	13.5% - 14.5%	5 - 7 years
PNB Housing Finance Ltd	25,00,000	13.5% - 15%	20 years	5 yrs - 2400  2490 10 yrs - 1570  1670
Syndicate Bank	25,00,000	13.26% - 15.81%	15 years		0.5% of the loan amount
Corporation Bank	10,00,000	13% - 15%	15 years
Central Bank of India	10,00,000	13.25% - 15.25%	10 years
BOB Housing Finance	25,00,000	13.25% - 15%	5 - 20 years		Mode of Repayment = EMI