South Indian Bank offers home loans at attractive interest rate (starting Repo Rate + 3.35% 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 (minimum and maximum of Rs.5,000 plus service and Rs.10,000 plus service tax) 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.
|Interest Rate||Repo Rate + 3.35% p.a. to Repo Rate + 6.10% p.a.|
|Processing Fee||0.50% of the loan amount or a minimum of Rs.5,000 + GST|
Compare: Home Loan Interest Rate all Banks
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 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.
For purchase of land with residential building
For construction of house in already owned land
For purchase of ready to occupy flat
For purchase of flat under construction
For purchase of house and construction of house later
Reimbursement for the construction of New House
Reimbursement for the purchase of house
The documents you need to provide for construction of residential house in my own land are as follows:
You can borrow a minimum of Rs.2 lakh.
Yes, a penalty fee of 2% p.a. would be levied in case you default.
You need to have a minimum credit score of 600 to be eligible for a home loan from South Indian Bank.
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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