Can NRIs avail of a two-wheeler loan without visiting India?

Yes, Non-Resident Indians (NRIs) may apply for a two-wheeler loan without visiting India. The process can often be completed remotely through online platforms provided by financial institutions.

Some key considerations include:

• Eligibility: To apply, NRIs must meet specific criteria, including a stable income source and age requirements. These conditions vary depending on the institution.
• Documentation: Many institutions accept scanned copies of documents like identity proof, address proof, employment details, and income statements via email or through an online portal.
• Co-Applicant: In some cases, a co-applicant based in India may be required, especially for individuals with limited credit history in India.
• Loan Disbursement: Based on the agreement, the loan amount can typically be credited to the applicant's bank account in India or directly to the dealership.
• Loan Terms: While the terms for NRIs may differ slightly from residents, the financial institution generally outlines aspects like interest rates and tenure.

Thus, by ensuring eligibility, preparing the necessary documents, and following the online application process, NRIs can access a two-wheeler loan without travelling to India.