South Indian Bank Home Loan

Compare: Home Loan Interest Rate all Banks

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 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.

SIB Home Loan Eligibility Criteria

1. Age limit: 21 years to 75 years
2. Type of Employment: Salaried or self employed
3. Nationality: Indian or Non-Resident Indian (NRI)
4. Credit Report should be at least 730

SIB Home Loan Documents Required

Salaried

1. Two passport size photographs
2. Identity proof
3. Address proof
4. Latest 6 months' salary slips
5. Latest 2 years' Income Tax Returns along with computation of income
6. Last 6 months' bank statements
7. Property-related documents

Self-employed

1. Two passport size photographs
2. Identity proof
3. Address proof
4. Last 2 year's ITRs along with computation of income
5. Business proof
6. Last 6 months' bank statements
7. Property-related documents

NRI (salaried)

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

NRI (self-employed)

1. Two passport size photographs
2. Identity proof
3. Address proof
4. Copy of Visa, work permit, passport, or ID card
5. Business and financial proof
6. Latest 1-year overseas bank account statements

Agriculturalists

1. Two passport size photographs
2. Identity proof
3. Address proof
4. Latest 2 years' ITRs along with computation of income
5. Last 1 year's savings account statements
6. Latest tax receipts for agricultural land

Senior citizens/pensioners

1. Two passport size photographs
2. Identity proof
3. Address proof
4. Copy of pension order
5. Last 6 months' pension credit account statements
6. Last 1 year's savings account statements

Others Documents Required

For purchase of land with residential building

1. Recent land tax receipt
2. Possession certificate provided by Revenue Office/Village Office
3. Location sketch provided by Revenue Office/Village Office
4. Approved plan
5. Sale agreement

For construction of house in already owned land

1. Recent land tax receipt
2. Possession certificate provided by Revenue Office/Village Office
3. Location sketch provided by Revenue Office/Village Office
4. Construction estimate
5. Approved building plan and permit

For purchase of ready to occupy flat

1. Occupancy or completion certificate of purchase from builder
2. Recent house tax receipt
3. Sale agreement

For purchase of flat under construction

1. No Objection Certificate (NOC) from Project Financing Bank
2. Statutory Approval
3. Tripartite Agreement
4. Approved plan and permit of building
5. Sale and Construction Agreement

For purchase of house and construction of house later

1. Recent land tax receipt
2. Possession certificate issued by revenue office or village office
3. Location sketch provided by revenue office or village office
4. Sale agreement

For takeover

1. Receipt of tax paid for all the completed projects
2. Valid approvals for under construction building
3. Latest 12 months loan account details
4. Sanction order of existing housing loan

Reimbursement for the construction of New House

1. Recent land tax slip
2. Approved building plan
3. Engineer certificate that shows investment support
4. Occupancy Certificate
5. Possession certificate provided by revenue office or village office

Reimbursement for the purchase of house

1. Recent land tax receipt
2. Recent house tax receipt
3. Sale deed copy

A good credit score can help you secure lower interest rates on loans and credit cards.

Get Free Credit Score