South Indian Bank Home Loan

South Indian Bank Home Loans starting at just 8.35% p.a.

South IndianBank is dedicated to helping you achieve your dream of homeownership with hassle-free home loan solutions. Read More...

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South Indian Bank Home Loan Highlights

Loan AmountUpto ₹75 cr
TenureUpto 30 years
Rate of Interest8.35% onward
Processing FeeUpto 0.5% of the loan amount
Max Tenure30 years
Foreclosure ChargesNil

South Indian Bank Home Loans Comparison Table

Compare South Indian Bank Home loan interest rates with other lenders to find the best deal. See how South Indian Bank competitive rates stack up in our comprehensive comparison table.

Name of LenderAmount Up toInterest RateTenure
Axis Bank₹10 cr8.75% OnwardsUp to 20 years

South Indian Bank Home Loan EMI calculator

Enter the loan amount, interest rate, and loan tenure into the South Indian Bank home loan EMI calculator below to determine your monthly EMI and the total interest due over the loan period.

EMI: ₹63,337.89
Total interest: ₹26,00,546.8
Total principal: ₹50,00,000

South Indian Bank Home Loans Eligibility

Check Your Eligibility for South Indian Bank Home Loan

South Indian Bank Loan Against Property

South Indian Bank Top Up Loan for HL Borrowers

South Indian Bank Loan Against Securities

South Indian Bank Home Loan Balance Transfer

Loan Against Property

When a client pledges their property as collateral to secure a loan, we classify this financial transaction as a Loan Against Property (LAP). The property acts as security for the loan, and the borrower retains ownership and possession of the property while repaying the loan. Residential, commercial, or industrial properties, specialized real estate, and plots of land are usually the accepted securities for a loan against property.

Eligibility

For SIB LAP Plus, age eligibility is:

  • Minimum: 21 years
  • Maximum: 60 years for salaried individuals
  • Maximum: 70 years for self-employed
  • Maximum: 75 years for property owners where income isn't considered

South Indian Bank Home Loan Processing Fees and Charges

South Indian Bank Home Loan Processing Fees

South Indian Bank Home Loan Prepayment charges

Processing fees for loan Above 30 Lacs :- 0.50% +GST of the loan amount, subject to a minimum amount of Rs.10000.00 + GST

How to Apply for South Indian Bank Home Loan?

Prospective borrowers interested in an South Indian Bank home loan have the option to apply online either through the bank's official website, as outlined below:
Apply here

Via the South Indian Bank Official Website

  1. Visit the South Indian Bank Home Loan official website.
  2. Click on Apply now
  3. Enter the necessary details to determine the eligible loan amount.
  4. Complete the required information on right side and tap "Submit".

Documents Required for South Indian Bank Home Loan

Following is the list of documents required for different categories of customers


South Indian Bank Home Loan list of documents for Salaried

South Indian Bank Home Loan list of documents for Self-employed professionals

South Indian Bank Home Loan list of documents for Self-employed

South Indian Bank Home Loan list of documents for Farmers

South Indian Bank Home Loan list of documents for NRIs

South Indian Bank Home Loan list of documents for Salaried

  1. Identity and residence proof (KYC), such as an Aadhaar, PAN card, or Voter ID card.
  2. Income proof, such as the last 3 months salary slip, the latest Form 16, and a six-month bank statement.
  3. A Cheque for The Processing Fee for The Loan Application.
  4. Property Documents Such as Sale Deed, NOC From the Builder or Housing Society, Advance Payment Receipt to The Builder, And Approved Construction Plan.

Property Related Documents

For New Home
  1. Allotment letter copy/Buyer agreement
  2. Payment receipt made to the developer
For Resale Home
  1. Title deeds including previous chain of property documents
  2. Agreement to sell copy
  3. Initial payment receipt made to the seller
For Construction
  1. Title deed of plot
  2. Copy of the plan approved by Local Authorities
  3. No encumbrance proof on the property
  4. The total estimate of construction by a Civil Engineer/Architect

South Indian Bank Home Loan FAQ’S

Here are some of the frequently asked questions with regards to South Indian Bank Home Loan

South Indian Bank offers home loans starting from 8.35% p.a., varying based on the applicant's credit profile.
You can determine the interest cost using the South Indian Bank Home Loan EMI Calculator. Simply input your loan amount, tenure, and interest rate into the calculator to obtain instant results.
South Indian Bank adjusts its housing loan rates in accordance with the repo rate. Changes in the repo rate prompt adjustments in the rates for existing South Indian Bank home loan borrowers. Additionally, South Indian Bank may modify the spread over benchmark rates during special or festive home loan offers.
Co-owners of the property must also be co-applicants for the South Indian Bank Housing Loan. However, not all co-applicants need to be co-owners; close family members are typically permitted as co-applicants.
Yes, partial or full prepayment of your home loan amount is allowed before the loan tenure ends. South Indian Bank does not impose prepayment charges on home loans with floating interest rates.
You can reduce your South Indian Bank Housing Loan interest rate by transitioning from a higher interest rate to a lower one. South Indian Bank charges a conversion fee for rate reductions, or alternatively, you can transfer your home loan to another lender offering lower rates.
Kotak Mahindra Bank does not levy prepayment fees on home loans with floating interest rates. For fixed-rate home loans, prepayment incurs a fee on the outstanding loan amount plus applicable taxes, except when using own sources for pre-closure.
After property and document verification and completion of the 'own contribution' or down payment, South Indian Bank sanctions the home loan. Disbursement can be requested online or offline and is contingent on construction progress.
Yes, your spouse's income can bolster your home loan eligibility. Your spouse must provide income documents to South Indian Bank for consideration.
While South Indian Bank doesn't specify a minimum credit score, it offers lower rates to applicants with scores of 750 and above.
Yes, you can apply for pre-approved home loan facilities based on your financial status, creditworthiness, and income. Property selection must occur within 6 months of loan sanction.
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