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Old 21st October 2007, 19:01   #1
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Default Nri Car Loans-help Needed??

Dear all,
First of all Hats off to guys who had started this website/forum.
This place really has lot of information that we need to know abt buying a car.
I'm an NRI and planning to present a car to my parents on their wedding day.

I'm planning to take a loan. Does banks give carloans to NRI?
I need some suggestion as to wat to look for while applying loan.
Kinda of basic guidelines for applying car loans.
Looking forward for some valuable suggestion from members.

Thank you all for ur time.
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Old 21st October 2007, 19:42   #2
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Maruti NRI Special Programme: Gift a car to your loved ones in India
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Old 21st October 2007, 23:16   #3
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Steeroid thnx for ur reply.
i'm actually thinking of buying either verna or fiesta.
does private banks(icici,hdfc....) give car loans to NRI's

thnx for ur time
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Old 22nd October 2007, 17:49   #4
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Quote:
Originally Posted by givemered View Post
Steeroid thnx for ur reply.
i'm actually thinking of buying either verna or fiesta.
does private banks(icici,hdfc....) give car loans to NRI's

thnx for ur time
Yes, private banks are giving loans to NRI.

But better opt for SBI.
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Old 22nd October 2007, 19:25   #5
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The State bank group members do; especially for customers who already have an account with a branch and good remittance record. It is likely that one of them has a specialised NRI branch near you. Get in touch with them.

Too bad you are in chennai; could have helped if you were in Cochin.
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Old 22nd October 2007, 21:01   #6
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Originally Posted by BaCkSeAtDrIVeR View Post
The State bank group members do; especially for customers who already have an account with a branch and good remittance record. It is likely that one of them has a specialised NRI branch near you. Get in touch with them.

Too bad you are in chennai; could have helped if you were in Cochin.
Just to add that most banks would only lend to the an NRI with a good standing NRI account with their bank with minimun length of 6 months. They may also want you to furnish proof of your NRI status in your guest country etc.
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Old 22nd October 2007, 23:28   #7
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Default thnx everyone for ur advice

i have an NRI account with indian bank. but they said they don't give car loans for NRI. It's their policy - thats wat they say.
but i had enquired few pvt banks and finance companies like kotak mahindra- they had said they will give nri car loans.

thnx everyone for ur suggestions..
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