• Wednesday, May 25, 2022

Business

ICICI Bank’s UK arm facilitates home loans in India for diaspora

ICICI Bank UK says non-resident Indians, overseas citizens of India and persons of Indian origin based in the UK can avail home loans to buy residential and commercial properties in India without travelling to the south Asian country.

By: Chandrashekar Bhat

ICICI BANK UK said it is facilitating home loans in India through its parent ICICI Bank for the Indian diaspora based in Britain.

According to it, non-resident Indians (NRIs), overseas citizens of India (OCIs) or persons of Indian origin (PIO) based in the UK, can avail home loans to buy residential and commercial properties in India without travelling to the south Asian country.

ICICI Bank has also enabled its online platform for salaried NRI customers to get a provisional sanction letter digitally.

The online platform provides customers “an opportunity to avail competitive interest rates and discounted processing fees”, the bank said in a statement.

It claimed the currency conversion rate between Pound Sterling and the Indian rupee now is “much better for a rupee buyer” than a year ago, which “further weighs in favour of buyers living in the UK”.

ICICI Bank UK said it has a dedicated team based in Britain to assist homebuyers looking to avail a home loan in India.

Customers can get in touch with ICICI Bank UK PLC branches or visit its website www.icicibank.co.uk, it added.

ICICI Bank is the second-largest Indian private sector lender by market capitalisation and the fifth most valuable Indian entity listed on exchanges.

Eastern Eye

Related Stories

Eastern Eye

Videos

Mrunal Thakur on Dhamaka, experience of working with Kartik Aaryan,…
Nushrratt Bharuccha on Chhorii, pressure of comparison with Lapachhapi, upcoming…
Abhimanyu Dassani on Meenakshi Sundareshwar, how his mom Bhagyashree reacted…