Personal loan for NRIs: 10 best banks with competitive interest rates

Personal loans are a popular choice amongst people who are looking for temporary financial assistance to cover their sudden expenses. These loans do not require collateral and offer flexible repayment tenure. With instant loan disbursement, you can get access to funds within no time.

Hence, these loans are a great option if you have a time constraint and want funds as quickly as possible. If you are an NRI and want to borrow a personal loan to manage your personal expenses, you can check the best ten lenders providing personal loans at attractive interest rates.

Top banks for NRI personal loans in 2025

Note: The deal which you may get for your personal loan will ultimately depend on the bank’s policies as well as your overall profile.

1. IndusInd Bank

Maximum loan amount: Up to ₹50 lakh
Maximum loan repayment tenure: Up to 7 years
Processing fee: Up to 4%

2. ICICI Bank

Maximum loan amount: Up to ₹50 lakh
Maximum loan repayment tenure: Up to 5 years
Processing fee: Up to 2%

3. HDFC Bank

Maximum loan amount: Up to ₹40 lakh
Maximum loan repayment tenure: Up to 6 years
Processing fee: ₹6,500

4. Kotak Mahindra Bank

Maximum loan amount: Up to ₹35 lakh
Maximum loan repayment tenure: Up to 6 years
Processing fee: Up to 5%

5. IDFC First Bank

Maximum loan amount: Up to ₹10 lakh
Maximum loan repayment tenure: Up to 5 years
Processing fee: Up to 2%

6. Yes Bank

Maximum loan amount: Up to ₹40 lakh
Maximum loan repayment tenure: Up to 5 years
Processing fee: Up to 2.5%

7. Axis Bank

Maximum loan amount: Up to ₹10 lakh
Maximum loan repayment tenure: Up to 5 years
Processing fee: Up to 2%

8. Tata Capital Limited

Maximum loan amount: Up to ₹50 lakh
Maximum loan repayment tenure: Up to 7 years
Processing fee: Up to 6%

9. Federal Bank

Maximum loan amount: Up to ₹5 lakh
Maximum loan repayment tenure: Up to 4 years
Processing fee: Up to 2.5%

10. RBL Bank

Maximum loan amount: Up to ₹5 lakh
Maximum loan repayment tenure: Up to 3 years
Processing fee: Up to 2%

Documents required for NRI personal loans

The documents required for your application approval will majorly depend on the lender’s policy as well as your overall profile. However, most lenders have a common requirement of documents. Make sure that you have the documents available at all times to ensure a smooth application process.

Application form: Fill out the application form with passport sized photos.

Passport and Visa: Photocopies of your Passport and Visa are to be submitted.

Identity proof: Aadhaar Card, PAN Card etc. (both applicant & co applicant)

Address proof: Passport, Aadhaar Card, PAN Card, utility bills etc. (both applicant & co applicant)

Income proof: Indian and international bank statements for the last 6 months, salary certificate (in English), or salary slips of the last 6 months.

Employment proof: Job contract, Appointment letter, HR’s official email ID, Labour/Identity card or CDC (for NRI who are working in the Middle East or Merchant Navy).

Eligibility criteria for NRI personal loans

For salaried applicants:

Age: 21 to 60 years

Work experience: Minimum 2 years, with at least 1 year in the current organisation

Co-applicant: Mandatory, must be a close relative (e.g., father, spouse)

Additional factors: Credit score, monthly income, employer’s profile, job role, and EMI/NMI ratio.

For self-employed applicants:

Age: 21 to 68 years

Work experience: Minimum 2 years in the current business

Co-applicant: Mandatory, must be a close relative (e.g., father, spouse)

In conclusion, personal loans are a convenient choice due to its ease of accessibility and flexible repayment. However, these loans offer higher interest rates as compared to other loans available in the market. Hence, before applying make sure to explore other available options as well so that you can grab the best deal which suits your budget.

(Note: Raising a loan comes with its own risks. So, due caution is advised)