Emirates Bank Welcomes meNRIs to the World of 100% Home Finance in India

Published September 19th, 2005 - 01:47 GMT

Emirates Bank has launched yet another exciting and valuable service to its customers by offering NRI’s- Non Resident Indians- the opportunity to avail of 100% home finance to buy their dream home in India.  meNRI Home Finance in India is a unique and innovative product, which is a combination of a Home Loan from ICICI Bank (70%) in India and a Personal Loan from Emirates Bank (30%) in the UAE.

Customers who transfer their salary to Emirates Bank are eligible to take advantage of the 100% loan, which can be utilized for either purchase of a new house, renovation or expansion of an existing house, or even financing a second home in India.

On this occasion, Mr. Louis A. Scotto, Emirates Bank General Manager- Retail Banking- commented, “At Emirates Bank, we extensively research ways of enriching our customers’ lives.  We look into what and where we think our customers aspire to be and devise ways of smoothing their paths.  With the introduction of our new meNRI 100% Home Finance in India, we hope to encourage NRIs living in the UAE to more seriously consider purchasing houses in their home country.  All our customers matter to us at Emirates Bank and we are committed to serving them to the best of our ability.”

Emirates Bank’s meNRI segment offering provides customers with value-added and focused benefits to best-suit their specific needs and lifestyle.  Customers are automatically provided with dual banking- ICICI Bank in India and Emirates Bank in UAE, yet enjoy one simple relationship.  They automatically and conveniently access the banking services provided by both banks in India and the UAE respectively.

The meNRI Home Finance package comes with an easy and hassle-free repayment scheme.  Post-dated cheques are not essential.  Moreover, a simple standing instruction can be set up on customers’ Emirates Bank accounts to take care of repayment.  Also, flexible loan tenures of up to 15 years have been designed to accommodate the unique borrowing requirements of customers.

With loans of up to one million Dirhams acquired through simple documentation and followed by fast loan approvals, the meNRI Home Finance makes customers’ dreams of owning their own home in India many steps closer.

meNRI account holders are offered both Internet and phone banking facilities and they can easily transfer funds online from their Emirates Bank accounts to their ICICI accounts in India within 24 hours.  They enjoy excellent rates on real time and on-line stock trading on the Indian Stock Market.


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