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| South Indian Bank Home Loan Highlights | |
| Interest Rate | 7.75% p.a. onwards |
| Loan Tenure | Up to 30 years |
| Loan-to-Value Ratio | Up to 90% of the property value |
| Processing Charges | 0.50% of loan amount + GST (Min. Rs 5,000; Max. Rs 10,000) |
Note: Interest rates as of 22 September 2025
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Table of Contents
South Indian Bank Home Loan Interest Rates
The following table shows the floating rate of interest correspondong to each South Indian Bank home loan scheme:
| Home Loan Scheme | Interest Rates (% p.a.) |
| Housing Loan | 7.75% |
| Affordable Housing Loan | 9.50% |
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South Indian Bank Home Loan Processing Fee and Other Charges
| Particulars* | Applicable Charges |
| Loan Processing Charges | 0.50% of loan amount, subject to a minimum of Rs. 5,000 and a maximum of Rs. 10,000 |
| Prepayment Charges | ● If closed from own sources after 2 years: NIL ● If closed from own sources before 2 years: 1% of the prepaid amount ● If closed through taking over by other banks: 2% of the prepaid amount Note: Pre-payment charges in respect of housing loans and other retail loans in the name of individuals, having a floating rate of interest, are waived. |
| No due Certificate | NIL |
| Solvency Certificate |
Up to Rs. 0.25 lakh: Rs.100 |
| Above Rs. 0.25 lakh to Rs. 1 lakh: Rs.250 | |
| Above Rs. 1 lakh to Rs. 5 lakh: Rs.500 | |
| Above Rs. 5 lakh to Rs. 10 lakh: Rs.1000 | |
| Above Rs. 10 lakh: Rs.100 per lakh and part thereof | |
| Charges for late payment of EMI | Additional 2% interest |
| Charges for changing from fixed to floating rates of interest | Option once exercised cannot be changed |
| Charges for changing from float to fixed rates of interest | Option once exercised cannot be changed |
| Charges for furnishing a copy of CIBIL / any other credit information company report, to the borrowers at their request | Rs.50 |
Also Know: Home Loan Interest Rates
South Indian Bank Home Loan Schemes
Considering the distinct requirements of a varied customer base, South Indian Bank offers two home loan schemes to meet the requirements of customers.
SIB Home Loan: This is a regular housing loan scheme available to all the eligible salaried and non-salaried individuals. The loan can be used for:
- Purchase of ready to occupy/repurchase of flat/house aged up to 20 years
- Purchase of land and construction of the house (in cases where the plot is purchased and construction is undertaken at a later stage, a declaration has to be obtained from the borrower that he intends to construct a house on the said plot with the help of bank finance)
- Purchase of flat or villas under construction in housing projects approved by the bank
- Extension of the house/flat
- Alteration/repair/reconstruction of the house / flat
- Reimbursement of expenses incurred within two years for flats/villa under construction, and purchase of ready to occupy flat/villas
- Takeover of housing loans
SIB Decor: This scheme is a top-up scheme available to both new and existing home loan customers. It can be used for:
- New HL Borrowers:
Meeting expenditures like the purchase of household articles, white goods, electronic items, computer equipment and peripherals, furnishings such as modular kitchen, furniture etc., or a combination of these requirements in a new residential building/unit.
- Existing Housing Loan Customers:
Meeting expenditure for replacement of the above-mentioned items.
Here are some of the key details regarding SIB Decor Home Loan.
| Eligibility | Minimum CIBIL Score of 550 |
| Margin | 25% |
| Repayment Period | ● Maximum 84 months (EMIs) or EMIs less than or equal to the remaining tenure of the HL, whichever is earlier ● No holiday period is allowed |
| Charges | ● No upfront/processing fee/inspection charge ● No pre-closure charges |
| Loan Amount | ● Minimum: Rs 0.50 lakh ● Maximum: Rs 100 lakh |
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South Indian Bank Home Loan Eligibility Criteria
- Minimum CIBIL score: 600
- Loan Amount: Up to Rs. 1.5 crore
- Age: 21-75 years
Resident Indians
- Salaried (Employees of Government, PSU, MNC, Listed companies and reputed Public and Private limited companies only)
- SENP (Self-employed non-professionals) Manufacturers, Traders, Wholesalers, Retailers, Service Providers
- SEP (Self-employed professionals) Doctors, CA, CS, ICWA, Architect, Engineer
- Agriculturist
- Senior citizen/ Pensioner
South Indian Bank Home Loan Documents Required
Salaried Individuals
- Duly filled in and signed the application form with photographs
- Identity, address and age proof
- Salary slips of last 3 months
- Bank statement of the past 6 months
- Form-16 and Income Tax Returns (ITR) details of two years
- Title documents of the property
Self Employed Individuals
- Duly filled in and signed application form with photographs
- Identity, address and age proof
- ITR and financial statements, including balance sheet, profit & loss account, schedules. (documents must be certified by a CA)
- Bank statement of the past 12 months
- For partnership firms: Latest partnership deed
For companies: Latest Memorandum and Articles of Association (CA certificate on profit sharing ratio/list of directors/shareholding partnership)
For Limited Liability Partnership: LLP Agreement
List of documents as per the purpose of the loan
For Construction of Residential House in Own Land
- Approved Building Permit
- Approved Building Plan
- Construction Estimate
- Location Sketch Issued by Village Office/Revenue Office
- Possession Certificate Issued by Village Office/Revenue Office
- Latest Land Tax Receipt
For Purchase of Land with Residential House
- Sale Agreement
- Approved Plan
- Latest Building Tax Receipt
- Location Sketch Issued by Village Office/Revenue Office
- Possession Certificate Issued by Village Office/Revenue Office
- Latest Land Tax Receipt
For Purchase of Land and Construction of House Later
- Sale Agreement
- Self Declaration from the applicant mentioning approx. construction estimate and area of the building proposed to construction
- Sketch Issued by Village Office/Revenue Office
- Possession Certificate Issued by Village Office/Revenue Office
- Latest Land Tax Receipt
For Purchase of Ready to Occupy Flat
- Sale Agreement
- Latest Building Tax Receipt
- Completion/Occupancy Certificate in case of purchase from builder directly
For Purchase of Flat under Construction
- Agreement for Sale and Construction
- Approved Plan and Building Permit
- Agreement (to be obtained before disbursal of the loan)
- approval of Pollution Control Board, Fire and Safety, Aviation Clearance etc.
- C from Project Financing Bank if applicable
For Repairs/Renovation/Extension
- Repairs/Renovation Estimate
- Approved Plan and Permit if applicable
- Latest Land Tax Receipt
- Latest Building Tax Receipt
For Takeover
- Sanction Order of Existing Housing Loan
- lid and Necessary approvals for under-construction projects
- Tax paid Receipt for the Completed Projects
Reimbursement in Case of Construction of New House
- Occupancy Certificate/Tax Demand Notice from the local Govt Body
- Engineer Certificate supporting the investment made Approved Building Plan
- Location Sketch Issued by Village Office/Revenue Office
- Possession Certificate Issued by Village Office/Revenue Office
- Latest Land Tax Receipt
Reimbursement in case of Renovation
- Engineer Certificate supporting the investment made
- Licensed Engineer to certify that the renovation is within one year
- Latest Land Tax Receipt
- Latest Building Tax Receipt
- Location Sketch Issued by Village Office/Revenue
- Office Possession Certificate Issued by Village Office/Revenue Office
Reimbursement in case of Purchase of House/Flat
- Sale Deed Copy
- Latest Building Tax Receipt
- Latest Land Tax Receipt
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South Indian Bank Home Loan EMI Calculator
Home Loan EMI Calculator
₹
%
Year(s)
Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
South Indian Bank Home Loan Customer Care Details
Customers can reach out to South Indian Bank through the below-mentioned contact details to get their home loan-related queries addressed.
- Toll-free Customer Care Number for Resident Indians – 1800 425 1809/1800 102 9408
- Customer Care Number for NRIs: +91 484 6689600/ +91 484 2388555
- Email: sibcorporate@sib.co.in
FAQs on South Indian Bank Home Loan
Q1. What is the minimum loan amount available under the SIB Home Loan?
The minimum loan amount available under the South Indian Bank housing loan is Rs. 2 lakh.
Q2. Is there any restriction on the number of properties an NRI can acquire?
No. There is no restriction on the number of properties for an NRI to purchase.
Q3. What is the security required by the bank for a home loan?
The security required to avail a home loan is Equitable/legal Mortgage of the property for which the loan is availed.
Q4. Is it possible for South India Bank to extend tenure of my existing home loan?
South Indian Bank has not disclosed if its customers can increase the tenure of their existing home loans. However, there are many banks and HFCs that allow their home loan borrowers to extend tenure of their existing housing loans, subject to the maximum term offered by the lender or the maximum age allowed at the time of loan maturity.
Also, it is important to know that increasing your loan tenure would decrease your credit score and hence, your chances of getting loans and credit cards in future for a long time. The reason for it is that tenure extension is considered as loan restructuring, which credit bureaus consider as a negative credit event. Hence, credit bureaus would reduce your credit score in case you extend the tenure on your existing home loan.
An alternative that will reduce your home loan EMIs without drastically affecting your credit score is home loan balance transfer facility. This facility allows you to transfer your outstanding dues to other lenders offering lower rate of interest, thereby, reducing your home loan EMIs. During the loan transfer, you can also choose for longer loan tenure, provided your new lender deems you to be eligible for it.