SBI home loan: Worked abroad

POSTED BY Anand Iyer ON February 28, 2013 9:49 am COMMENTS (4)


I recently applied to SBI for a home loan…both me and my wife earn well enuf to be able to afford the house..but do have 1 question.

Both me and my wife worked in US till last we do not have any tax returns or Form 16 filed in India yet. We have submitted copies of our current salary slips as well as tax papers from US (its called W-2) for the last 3 years.

Are there any ppl who lived in other countries and have applied for home loans? Any potential issues that may come up?



4 replies on this article “SBI home loan: Worked abroad”

  1. Dear Samir, you mean to say you are already running 2 loans. first, you want to switch from IDBI to SBI & later on planning to purchase one more property.

    Am I correctly Understanding you? Please confirm.

    As far as I know, if you are already holding 2 residential properties, Max Gain ‘ll not be given to you as per a circular of SBI. I have personally seen this circular in the past during application of loan for one of my friend.



  2. Credexpert says:

    Dear Mr. Iyer,

    The income that you earned in US would be of little relevance as that is history. The bank would consider your current salary to determine the loan amount that can be sanctioned to you. As mentioned that both your wife and you earn enough to be eligible for the home loan we do not see any hindrance in the same.


    1. Samir says:

      Hi Ashal/CredExpert,
      I have a not so related question on SBI Homeloan.

      1) I currently have two home loans 3.25 lac from SBI and 9.5 lac from IDBI.
      2) SBI being the MaxGain Loan, and also with lower interest rate, I am planning to move money to IDBI home loan and close it.

      Question –
      1) If I plan to take another property, Can I take one more SBI home loan (while the first one is still running)??

  3. DEAR ANAND, please be assured, on the basis of your US income proof, your loan application ‘ll be sanctioned. Loan eligibility ‘ll depend upon your current Indian Income for both.



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