South Indian Bank Home Loan
Dreaming of owning a home is deeply ingrained in the aspirations of millions across India. When it comes to making these dreams a reality, South Indian Bank has emerged as a trusted financial partner for many. Known for its customer-centric approach, South Indian Bank offers competitive home loan interest rates tailored to meet diverse needs.
Rate of Interest
8.70% to 11.70%
Loan to Value
80% - 90%
Loan Tenure
Max 30 years
Max Loan Amount
Upto 15cr
| Rate of Interest | 8.70% to 11.70% |
| Loan Tenure | Max 30 years |
| Age | Salaried/ Self Employed : 21 - 65 years |
| Profession | Salaried/Self Employed |
| Income | Metro Cities : 20,000/Month & Above Other Cities : 15,000/Month & Above |
| Nationality | Resident Indian/ NRI |
| Max Loan Amount | Upto 15cr |
| Plot Purchase | |
| Independent Building | |
| Apartment | |
| Resale Property | |
| New Construction | |
| LTV | 80% - 90% |
| Home Loan | |
| Plot Cum Construction Loan | |
| Balance Transfer | |
| Overdraft Facility | |
| Top Up Facility | |
| Other Offerings | Loan Against Securities, Property Loan |
| Processing Fees | 0.50% of the loan amount, with a minimum amount of Rs.10000.00 |
| Other Charges | Penal Charges- 2% p.a. for the defaulted amount for the defaulted period. |
| Overdraft Facilities | |
| Highlights | • Affordable EMI • Digital Documentation • Loan Protection Scheme • Extended Repayment Period |
*Disclaimer: The interest rate, maximum tenure, and other charges are subject to change, it's advisable to check with our experts for the latest information.
| Loan Amount | ₹ 50,00,000 |
| Loan Tenure | 20 years |
| Rate of Interest | 8.70% to 11.70% |
| Monthly EMI | ₹ 44,026 - ₹ NaN |
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.
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 |
Calculate your South Indian Bank Home Loan eligibility and unlock exclusive offers for you!
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% |
Get the best Home Loan interest rates tailored for you
If you’re looking to choose the right home loan perfectly made according to your needs, then book a call with our experts here.
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 | ✖ | ✔ |
South Indian Bank Home Loan Schemes and Top Plans
Comparison
| Feature | Home Loan For Salaried | Home Loan For Self Employed | Home Loan For Senior Citizen | Home Loan For NRIs |
|---|---|---|---|---|
| Minimum Loan Amount | Rs 5 Lakhs | Rs 5 Lakhs | Rs 5 Lakhs | Rs 10 Lakhs |
| Maximum Loan Amount | – | Up to Rs 100 Lakhs | – | Up to Rs 1500 Lakhs |
| Interest Rate | 8.70% to 11.20% | 8.75% to 11.70% | – | – |
| Tenure | Up to 30 years | Up to 30 years | Up to 20 years | Up to 20 years |
| Eligible Applicants | Both salaried and self-employed individuals | Both salaried and self-employed individuals | Both salaried and self-employed individuals | Both salaried and self-employed individuals |
Details
Home Loan For Salaried
• Minimum Loan Amount: Rs 5 Lakhs
• Interest Rate: 8.70% to 11.20%
• Tenure: Up to 30 years
• Eligible Applicants: Salaried or self-employed
Home Loan For Self Employed
• Maximum Loan Amount: Up to Rs 100 Lakhs
• Minimum Loan Amount: Rs 5 Lakhs
• Interest Rate: 8.75% to 11.70%
• Tenure: Up to 30 years
• Eligible Applicants: Both salaried and self-employed individuals
Home Loan For Senior Citizen
• Minimum Loan Amount: Rs 5 Lakhs
• Tenure: Up to 20 years
• Eligible Applicants: Salaried or self-employed
Home Loan For NRIs
• 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
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.
Do not want to get into this hassle? Get South Indian Bank Home Loan Bank’s best rates in a single call.
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
Yes, the EMI facility is available at South Indian Bank for select Cardmembers. The eligibility for this facility is determined by the bank’s internal policies and guidelines. The “Total Amount Due” on the SIB OneCard Credit Card statement reflects the total amount due for payment when the statement is generated.
Yes, South Indian Bank is RBI approved. It was the first private sector bank in Kerala to become a scheduled bank in 1946 under the RBI Act and the first private bank in India to open a Currency Chest on behalf of the RBI in April 1992. This confirms its recognized status and compliance with RBI regulations.
No, South Indian Bank is not a government bank; it is a private sector bank based in Kerala, India. Established in 1946, it was the first private sector bank to become a scheduled bank. The bank provides a wide range of banking solutions, including investment options in the National Pension System (NPS).
The CEO of South Indian Bank is P R Seshadri, who serves as the Managing Director as well. He views leading the bank as a privilege, emphasizing a growth journey that leverages technology while maintaining the bank’s business values and rich heritage. Under his leadership, the bank aims to blend innovation with tradition.