The South Indian Bank Limited is a private sector bank based in Thrissur, Kerala, India. South Indian Bank has 802 branches distributed throughout more than 26 Indian states and associated regions. It has installed 933 ATMs across India. SIB provides you with alluringly calculated Home Loans.
To learn more, consider some of the fundamental loans provided below to get appealing solutions.
South Indian Bank provides house loans with competitive South Indian Bank home loan interest rates beginning at 8.25% p.a. It provides home loans for a variety of objectives in order to satisfy the demands of its consumers.
A home loan can be obtained by both salaried and non-salaried individuals, both residents and non-residents.
Loan Purpose: South Indian Bank Home Loans can be used for any of the following purposes-
The processing fee for the home loan is 0.50% (excluding the GST)
South Indian Bank's house loan interest rate is closely tied to the External Benchmark-based Lending Rate (EBLR), also known as the Repo Rate, which is now at 4.40%. The actual interest rate on a house loan is the sum of the Repo Rate and the Spread.
The table below compares the interest rates that are offered by South Indian Bank to various programs.
South Indian Bank Housing Loan Interest Rate
Home Loan Scheme (Salaried/SEP/NRIs)
8.25% - 10.50%
Home Loan Scheme (Others)
8.60% - 11%
There are varied schemes to cater to the different requirements-
This is a regular house loan scheme that is open to all eligible salaried and self-employed individuals.
This scheme is for meeting expenses such as the purchase of home articles, white goods, electrical items, computer equipment and peripherals, furnishings such as modular kitchens, furniture, and so on in a new residential building/unit, or a mix of these requirements.
This scheme is for meeting the costs of replacing the aforementioned things.
The basic documents that are needed while applying for a home loan from the South Indian Bank are-
The application process for a house loan from the South Indian Bank is simple, and the steps to do it online are mentioned below:
Step 1: You will have to visit the official portal of the bank.
Step 2: You can then visit the page of loans and click on the home loan.
Step 3: The bank will let you know if you are an eligible applicant, and when you are, you can easily apply for the loan by filling in the details as instructed.
Step 4: Once you have filled in your details, you will be asked to attach the documents.
Step 5: Once the documents have been attached and verified, you can submit the application.
The bank will contact you later on your home loan application.