South Indian Bank Home Loan

With a legacy of reliability and a strong presence in southern India, the bank provides seamless banking services that empower individuals to achieve their homeownership goals.

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Eligibility Criteria for South Indian Bank Home Loan

Here are the eligibility criteria for different types of South Indian Bank Home Loans:

Criteria	Salaried	Self-employed
Age Range	21 to 65 years	21 to 65 years
Nationality	Indian/NRI	Indian/NRI
Maximum Age at Final Repayment	65 years	65 years

South Indian Bank Home Loan Interest Rates

Standard Home Loan Rates

Category	Rate of Interest (ROI)
Salaried	8.70% to 11.20%
Self Employed	8.75% to 11.70%

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South Indian Bank Home Loan Processing Fee and Charges

Processing Charges

Charge Type	Amount
Processing Fees	0.50% +GST of the loan amount, subject to a minimum amount of Rs.10000.00 + GST
Penal Interest	2% p.a. for the defaulted amount for the defaulted period.
Prepayment / Pre-closure charges	Nil

Identity Documents

Doc Name	Salaried	Self Employed
PAN	✔	✔
Voter ID	✔	✔
Passport	✔	✔
Driving Licence	✔	✔
Aadhar Card	✔	✔
Bank Account Statement or Passbook with Photograph & Bank Stamp on Photo	✔	✔

Proof of Income

Document	Salaried	Self Employed
Min 3 latest salary slips (min 6 pay slips in case monthly income is variable) / Latest Salary Certificate	✔	✖
Latest 2 Years ITR with Computation/ Form 16 for the last 2 Years	✔	✖
Minimum last 6 months’ bank statement with a minimum of 5 salary credits	✔	✖
Latest two years personal ITRs supported by Computation sheet, Profit & Loss account and Balance sheet	✖	✔
Proof of Business	✖	✔
Last 6 months Bank account statement	✖	✔

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South Indian Bank Home Loan Schemes and Top Plans

Comparison

• Minimum Loan Amount: Rs 5 Lakhs
• Tenure: Up to 20 years
• Eligible Applicants: Salaried or self-employed

• Minimum Loan Amount: Rs 10 Lakhs
• Maximum Loan Amount: Up to Rs 1500 Lakhs
• Tenure: Up to 20 years
• Eligible Applicants: Salaried or self-employed

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How to Apply

Applying for an South Indian Bank Home Loan is a straightforward process:

1. Check Eligibility:
Verify that you meet the eligibility criteria for your selected loan product.

2. Collect Documents:
Gather all the required documents.

3. Visit a Local Branch:
Visit your nearest Equitas Small Finance Bank branch and fill out the application form.

4. Submit Documents:
Submit your application along with the required documents.

5. Application Review:
The bank will review your application and documents.

6. Loan Approval:
Upon approval, your loan will be sanctioned, and you can start your homeownership journey.

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Comparison

For detailed comparison between top banks you can visit our compare banks page.

Bank	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI Bank	8.5% p.a. onwards	8.5% p.a. onwards	8.5% p.a. onwards
HDFC Bank	8.7% p.a. onwards	8.7% p.a. onwards	8.7% p.a. onwards
LIC Bank	8.50% – 10.35% p.a.	8.50% – 10.55% p.a.	8.50% – 10.75% p.a.
ICICI Bank	8.85% p.a. onwards	8.85% p.a. onwards	8.85% p.a. onwards
Kotak Mahindra Bank	8.70% p.a. onwards	8.70% p.a. onwards	8.70% p.a. onwards
Punjab National Bank	8.40% – 12.10% p.a.	8.40% – 12.10% p.a.	8.40% – 12.10% p.a.
Bank Of Baroda	8.40% – 10.65% p.a.	8.40% – 10.65% p.a.	8.40% – 10.90% p.a.
Bajaj Housing Finance	8.50% p.a. onwards	8.50% p.a. onwards	8.50% p.a. onwards
Axis Bank	8.75%-13.30% p.a.	8.75%-13.30% p.a.	8.75%-9.65% p.a.
Bank of India	8.4% p.a onwards	8.4% p.a onwards	8.4% p.a onwards
TATA Capital	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards

Frequently Asked Questions