Different Types of Online Loans in India for NRIs available.

Get a LoanIf you like to start a business and you have not the adequate fund to make the proper investment, you must take the golden opportunity to expand your business by applying for the loan from any financial sector like bank and other financial institutions.

Before we get into depth, we would like to tell you that if you are a non resident Indian living abroad and want to apply for home loans, business loans, etc in India, then you must visit:


Now before taking any final decision, you should feel free to collect updated information regarding the different types of loans in India and how you will be able to make the proper utilization of all these loan options. You should be well acquainted with the ins and outs of the application procedures.  To be frank, you should feel it urgent to know the process of the sanction of the loan and at the same time how it is paid back in installments.

Take Overview

  • Before that, it is up to you to select which loan will be suitable to you. If you want to purchase a car or buy the new house or set up a commercial sector for the speedy expansion of the own trading, you should take proper initiative to opt for the best loan option which will be available on easy terms and conditions. For instance, in the case of home loan, you will get the handsome amount for either renovating your old home or purchase a newly built infrastructure with a fantastic backyard which will be adjacent to the main building.
  • This type of home loan you can get by convincing the bank that you are employed and draw monthly fixed salary. You will have the ability to pay the debt within the specific time limit without failure.  However, it is also true that now-a-days the banking sectors are taking drastic measures by bottlenecking the issuance of home loan due to the financial crunch.
  • The banks have put restriction on the issuance of such loans. However, there is another good part of taking home loan is that your will save the burden of taxes on the particular borrowed amount.

Know Different Types

  • There is another kind of wonderful loan offer for you on behalf of the banks to purchase the cars or vehicles. This is called auto loan or car loan. Suppose, you prefer to purchase a sophisticated car for your personal use, you can move to your nearby branch of any bank and apply for the car loan to serve the purpose. This amount you can spend on car only.
  • The repayment schemes are good with low interest rates. However, you can talk to your financial advisors or you may feel comfy to enquire in the customer care service of the bank in this regard. There are also marriage loans, education loans/student consolidation loans.
  • You will be liable to pay off the dues or debt in time. Your company or anyone will not be held accountable for the payment of the debt.   On the other hand, the personal loan is very interesting.
  • You can borrow money from your financial benefactor for purchasing the video, washing machine or any electronic gadgets like computer, music set etc. The fact is that you should be eligible for asking for the loan. You must be citizen of the country.

You should cross the 18 year age bar and you have minimum income source to pay back the personal loan at easy installments.  You must decide whether you require short term loan or long term one. This is the most important factor.   In this connection, please consult your seniors and friends how to handle the situation.

You can even move to attorney who is very experienced and expert in the field of car loan, home loan and personal loan. He will give you vital feedback how to apply for the loan and where to get loan easily without facing any complicated legal stringency.




How to Transfer Money to India? Ways to Send Online to India.

Send Money to IndiaIf you live in America and want to send back money to your sweet heart or your family who stays in India, you need to know how fast dollars can reach your home to strengthen your family to survive in this busy world. The fact is that in past people had to depend on the conventional type money transfer process which was slow and time consuming process.

After issuing the check, it used to take several weeks to enter into the domestic account in India. The charges were also higher. There is another way of sending money to India is to opt for the issuance of postdated checks. Now you should know the negative aspect of such transaction.

For FREE Money Transferring Online:

Know Process of Money Transfer

·    If you send the certain amount in the form of American dollars through post dated checking options, the amount will not be same after the conversion into rupees due to frequent changes in the conversation rates.  For this reason, the coming of the internet banking has become much more advantageous and popular to India and other parts of the world. All these facilities are available for sending money online from: USA, UK, Canada, Ireland, Guilf – Dubai, UAE, Qatar, Saudi Arabia, Australia, Germany, France, Singapore, China, Japan, etc.

·    However, in case you decide to send the cash to your better half via check. You can knock at the door of SBI bank for the transaction. State Bank of India has recently opened a number of sister branches/tributaries in America, They have the upgraded mechanism to speed up the money transfer process.

·    Moreover, they will charge few dollars for assisting the people to transfer money to India. You can activate a personal account in SBI branch in America. Then just deposit dollars into your account. The next step is that you will have to collect a check which is denominated in Indian currencies after the conversion of the dollars into the Indian rupees.

·    The rule of the thumb is that you need to make a down payment of $10 for conversion of Rs.50,000. There is another option open to you as well. If your sweet heart has the bank account in SBI in India, you can utilize the chance by wiring money from the SBI branch which is located in your area in America.

Check Different Online Sites

In addition, net banking has overtaken all the transaction process as it is much more reliable and hassle free service. It will take several minutes to complete the transaction.  You should check the online sites to gather information about the different procedures of sending the money to India via online banking system.

There are many sites like NriInvestIndia.com, remit2india, Xoom.com, etc which plays the major role in the money transferring process. In this particular case, just use a credit card. Money will reach India from abroad instantly or in some cases the bank wire transfer would take 5 business days if nothing happens wrong. However you need to know the one important issue of concern – Income Tax for money transfer from a foreign country to India:

– Income tax is very important factor in this case and you need to highlight this area. Frankly speaking, if you send the money from Los Angeles or New York to Bombay or Kolkata in India, you need not to pay any tax to Indian income tax department as dollars have already been deducted as a part of taxation at the time of sending money from America. If you send money to your sweet heart or your aged mom, your relative will be exempted from paying the taxes for the personal gifts.

Finally, before making any written commitment, just consult the financial advisors or experts how to handle the whole money transfer process to India.  They will certainly help you out with their vital feedbacks and opinions regarding the different procedures of the money transfer to India in very systematic way.

One thing more you can do by searching the internet to gather information about the different steps and exact terms and conditions for the completion of whole money transfer process to India. For any questions about knowing how to send money to India online you should visit: www.NriInvestIndia.com