South Indian Bank Home Loan – Interest Rates 2020, EMI Eligibility Calculator

South Indian Bank Home Loans: Get Details on SIB housing loan Products, Interest Rates, Documents, Eligibility, EMI and Processing Fees. South Indian Bank Offers Home loans for NRI, Senior Citizens and SIB Shield Like Services to the Peoples.

Purpose of the loan:
✓ Purchase of Flat or House
✓ Construction of Flat for own use or House
✓ Purchasing land & constructing a House #
✓ For major repair, renovation, extension or improvement of flat or house.
✓ Takeover of Housing loans from other banks & reputed housing finance companies.
✓ Reimbursement of investments already made by the borrower provided the investment has taken place within one year.

Home Loan applications received for rupees ₹ 419,027 crores till 19 October 2020

Apply for Home Loan & Check your CIBIL score absolutely FREE.

Loan Amount
Occupation

Annual Income

City

120,17,256 loan quotes taken till now.
Home loan Interest rates starts from 6.90% for women, 6.95% for Others.


Salient Features of South Indian Bank home loans are
✓ Same Rate of Interest. Base Rate irrespective of loan amount/age/period/purpose.
✓ No Upper Limit for Home Loans
✓ Flexible Repayment options

Margin of loan : 10 to 25 %

Repayment ( including holiday) : Minimum 5 years & Maximum 20 years by Equated Monthly Instalments(EMIs).

Holiday / Moratorium for repayment – 3 to 36 months ( as applicable)

Upfront Charges – Maximum Rs 10000/-

South Indian Bank Home Loan Interest Rates 2020

Home Loan Scheme (Income Program, Repairs & renovation and Reimbursement) 8.80%
Home Loan Surrogate 9.80%
Home Loan Saver 10.05%
Housing Loan SMART (Income Program, Repairs & renovation and Reimbursement) 9.30%
Housing Loan SMART (Surrogate Program) 10.05%

SIB Home Loan EMI Calculator

Calculate Loans EMI Online

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Total Interest Amount
Yearly Interest Amount

Here’s the example – Rs.20 Lakh Home loan @ 8.80% rate of interest for 20 years.

✓ Calculated Monthly EMI – 17738.07
✓ Total Amount with Interest – 4257136.8
✓ Flat Interest Rate PA – 6.70%
✓ Total Interest Amount – 2257136.8
✓ Yearly Interest Amount – 112856.84

Eligibility Crieteria or How Much Loan amount you are eligible:

Salaried Class

Target Group Employees of MNCs, State/Central Govt, IT Companies etc
Eligible Loan Amount 60 times of Net Monthly Income
Period of Repayment 30 years/Till 75 years of age

Business Class

Target Group Self Employed, Business people
Eligible Loan Amount 5 times of average gross income as per IT returns.
Period of Repayment 30 years/Till 75 years of age

Next Gen

Target Group Professionals with net monthly income of Rs 60000/-
Eligible Loan Amount 75 times of Net Monthly Income
Period of Repayment 30 years/Till 60 years of age

Agriculturists

Target Group Persons whose main source of income is Agriculture.
Eligible Loan Amount 5 times of average gross income
Period of Repayment 30 years/Till 75 years of age

NRIs

Target Group NRI individual/jointly with NRI or resident spouse.
Eligible Loan Amount 50 times of average monthly remittance.
Period of Repayment 20 years/Till 70 years of age

Senior Citizens

Target Group Pensioners/HNIs without pension
Eligible Loan Amount 60 times of Monthly pension/5 times of Gross total income.
Period of Repayment 20 years/Till 75 years of age

## conditions apply

Other Products of South Indian Bank:
SIB Home Loan
SIB Doctor Loan
SIB Vehicle Loan
SIB Gold Loan
SIB Flexi Loan
SIB Personal Loan

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