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  • South Indian Bank Home Loan

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  • South Indian Bank home loan interest rate begins from 9.10% p.a., with loan tenures of up to 30 years and a loan amount of up to Rs.15 crore. The bank charges processing fees of 0.50% of the loan amount and the Loan-to-Value (LTV) of up to 90% of the property value. The repayment option may be extended beyond your retirement, if pensionable. You can also take advantage of the top-up home loan offered by the bank. Also, the bank offers a takeover of your existing home loan with attractive features and benefits. 

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    We found 1 South Indian Bank Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.10% Floating
    Up to ₹10,000 One time fee
    -
    30 Years
    What you'll love
    Documents
    Perks
    Think about

    South Indian Bank offers home loans for resident and Non-Resident Indians (NRIs) at attractive interest rates starting from 9.15% p.a. You can take a loan of up to Rs.15 crore for a tenure of 30 years. The processing fee is charged at 0.50% of the loan amount plus applicable taxes.

    South Indian Bank Home Loan Scheme

    South Indian Bank Home Loan

    Key Highlights

    • Loans of up to Rs.15 crore
    • Attractive rates starting from 9.15% p.a.
    • Maximum tenure of 30 years
    • Financing of up to 90% of the total cost of the property
    • 0.05% concession on interest for women applicants
    Interest Rate 9.15% p.a. t0 9.50% p.a.
    Processing Fee 0.50% of the loan amount or a minimum of Rs.5,000 + GST

    South Indian Bank Home Loan EMI Calculator

    Your monthly instalment amount depends on multiple parameters, including the loan amount, tenure, and interest rate. It’s always advised to calculate your EMI (Equated Monthly Instalment) and processing fee (paid upfront) beforehand so that you can plan your financial life in a better way. Prior calculation can also help you compare different home loan schemes offered by various financial institutions.

    In order to do that, you can use BankBazaar South Indian Bank Home Loan EMI Calculator. The entire process is easy with a quick turnaround time. All you need to do is enter the relevant details pertaining to your loan, including the loan amount, tenure, interest rate, and processing fee. Hit the button “calculate” to check your EMI and processing fee.

    This will be followed by an pre payment table giving you a complete breakdown of your repayment schedule.

    South Indian Bank Home Loan Eligibility Criteria

    Age 21 years to 75 years
    Type of Employment Salaried, self-employed professionals and non-professionals
    Nationality Indian or NRI

    Documents Required

    For salaried

    • Two passport size photographs
    • Identity proof
    • Address proof
    • Latest 6 months’ salary slips
    • Latest 2 years’ Income Tax Returns along with computation of income
    • Last 6 months’ bank statements
    • Property-related documents

    For self-employed

    • Two passport size photographs
    • Identity proof
    • Address proof
    • Last 2 year’s ITRs along with computation of income
    • Business proof
    • Last 6 months’ bank statements
    • Property-related documents

    For NRI (salaried)

    • Two passport size photographs
    • Identity proof
    • Address proof
    • Copy of Visa, work permit, passport, or ID card
    • Salary certificate along with employment contract
    • Latest 1-year NRE account statement

    For NRI (self-employed)

    • Two passport size photographs
    • Identity proof
    • Address proof
    • Copy of Visa, work permit, passport, or ID card
    • Business and financial proof
    • Latest 1-year overseas bank account statements

    For agriculturalists

    • Two passport size photographs
    • Identity proof
    • Address proof
    • Latest 2 years’ ITRs along with computation of income
    • Last 1 year’s savings account statements
    • Latest tax receipts for agricultural land

    For senior citizens/pensioners

    • Two passport size photographs
    • Identity proof
    • Address proof
    • Copy of pension order
    • Last 6 months’ pension credit account statements
    • Last 1 year’s savings account statements

    FAQs

    1. What are the property documents that I have to submit in case I take a loan for construction of residential house in my own land?
    2. The documents you need to provide for construction of residential house in my own land are as follows:

      • Approved building plan
      • Approved building permit
      • Construction estimate
      • Sketch of the location issued by village or revenue office
      • Possession certificate
      • Land tax receipt (latest)
    3. What’s the minimum amount that I can borrow?
    4. You can borrow a minimum of Rs.2 lakh.

    5. Is there any penalty fee that I have to pay in case I default?
    6. Yes, a penalty fee of 2% p.a. would be levied in case you default.

    7. What’s the minimum credit score that I have to maintain to get a loan?
    8. You need to have a minimum credit score of 600 to be eligible for a home loan from South Indian Bank.

    9. What’s the maximum margin of financing that I can get?
    10. The maximum financing you can get is 90% of the total property cost. However, it also depends on the loan amount and the type of property. The final amount offered is at the bank’s sole discretion.

      

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    South Indian Bank Home Loan Reviews

    • South Indian Bank Home Loan
      "best home loan "
      0.5 4.5/5 "Excellent!"
      The bank is very supportive when i approach them for home loan. They have charged me a interest rate of 8% to 9% and there is no processing fee. I have applied the loan amount of Rs. 12 lakhs. They have sanctioned the loan in 25 days. Total tenure period of the loan is 8 years. I have been paying the EMI of Rs. 21000 and it will get automatically deducted from my account
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 04, 2019
    • South Indian Bank
      South Indian Bank Home Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I was having this loan with another bank which has been transferred to South Indian Bank four years back. The interest rate which they where offering has been nominal when compared with the market rate and there has not been any additional charges which they had made so far.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Oct 24, 2018
    • South Indian Bank Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a good experience i had with this home loan where the loan amount which they had given me has been sufficient and satisfactory. I had taken this loan in the year of 2008 and the interest rate during that time has been nominal when compared with the market rate. There has not been any additional charges which they had made so far.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Oct 24, 2018
    • South Indian Bank Home Loan
      "Good"
      0.5 3.5/5 "Pretty good"
      My home loan was taken with SOUTH INDIAN BANK 2 years back. The loan amount was 45 lakhs and the interest rate was satisfactory . The EMI perdition was 15 years . Their customer service and responses was very good. There is no inconvenience faced at all . The documentation was quite smooth and hassle free.
      Was this review helpful? 3
      , bangalore
      Reviewed on Aug 18, 2018
    • South Indian Bank Home Loan
      "Staff are cooperative..."
      0.5 4.0/5 "Great!"
      The managers and staff of South Indian bank is too good and the process was very fast. I did not get the expected amount as got only 70% because of some reasons and no issues on that as banks have their own norms. South Indian is best for home loan. 9.25% is the rate, I guess.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jan 07, 2016
    • South Indian Bank Home Loan
      "High Charges"
      0.5 2.0/5 "Expected more"
      South Indian bank took about a month for the disbursing the home loan . They are charging higher interest rate of 10.05% so planning to transfer the loan . The process was very difficult every time they use ask different documents. I visited the bank for the loan the response was good.
      Was this review helpful? 1
      , lucknow
      Reviewed on Nov 14, 2015
    • South Indian Bank Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I got a home loan with South Indian Bank. The services has been good from them. They have offered me a floating rate of interest. The process for the loan was smooth. And most of all they are providing me the loan as per my requirement.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 04, 2015
    • South Indian Bank Home Loan
      ""
      0.5 4.0/5 "Great!"
      In that particular location, my property is village panchayat and this bank is offering loan. There was lot of documentation asked, i went to Coimbatore for documentation which is hassle. Interest rate is 10.5% is quite high compared with other banks. Pre payment option is there and they told me there is pre closure and fore closure charges.
      Was this review helpful? 2
      , pune
      Reviewed on Aug 02, 2014
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