NRI........

Loan will be repayable in Equated Monthly Installments (EMI) comprising principal and interest. Interest is calculated on monthly reducing balance method. The monthly installment depends on quantum of loan, interest rate applicable and the term of repayment of the loan. The sample of various EMI's is given in the table below :
   
EMI FOR A LOAN OF Rs. 1,00,000/-

Repayment of  EMI commences from the month following the month in which the last installment of the loan is disbursed by the “HUDCO NIWAS”  Until the loan is fully disbursed, Pre-EMI interest is payable only on the portion of the loan availed as one the last day of every month and is calculated at the same rate at which EMI is calculated.
 
Payment of fees, charges & pre EMI interest should be remitted to HUDCO from abroad through normal banking channel or from the NRE/FCNR/NRO/NRNR/NRSR account in India.
 
Payment of the EMI should be made through post dated cheques from your NRE/FCNR/NRO/NRNR/NRSR accounts in India.
 
However If the house/flat is rented out, the entire rental income, even if it is more than the prescribed installment, should be adjusted towards repayment of loan.  If the rental income is less than the prescribed installment, the borrower should remit the amount to the extent of the shortfall from abroad or pay the difference out of is/her NRE/FCNR/NRO/NRNR/NRSR accounts in India
  
Repayment of ahead of schedule will be accepted without any changes/penality