The Reserve Bank of India has enacted several policy and regulatory changes in a bid to make it easy for NRIs to avail loans and credit facilities from Indian banks. Currently, there are absolutely no restrictions with regard to an NRIs ability to avail a loan from an Indian bank, although they may be asked to put up a collateral.
That’s not all. According to RBI guidelines, an NRI can freely avail overdraft facilities from their NRE and NRO bank accounts by securing their fixed deposits as collateral. Also, there’s no limit on the amount of loan that can be availed by them as well.