If a borrower’s resident status changes from being a non-resident Indian (NRI) to a resident Indian (RI), then his/her repayment capacity is reassessed.

The borrower’s loan against property (LAP) will attract a new rate of interest, which will be as per the currently applicable rate of resident Indian (RI) loans. This revised rate of interest would be applicable on the outstanding balance being converted, and a letter is given to the customer confirming the change of status.