Product Details
Bank Name
South Indian Bank
Maximum Loan Tenure
Balance tenure of home loan or 7 years whichever is higher.
Maximum Loan Amount
As per eligibility under the South Indian Bank home loan.
Interest Rate
8.70% to 11.70% per annum.
Type
Floating
Down Payment
Up to 90%.
Fees and Charges
Processing fees- 1% of the loan amount.
Pre-payment charges: NIL for floating interest rate.
Late payment charges: 2% per annum for the default/overdue period.
Legal charges: At actuals.
Stamp Duty and registration charges: At actuals.
Minimum CIBIL Score
730
Down Payment and Fees
Top Up Loan
Special Features
Low interest rate.
Eligibility Criteria
Customers who have availed home loan and have a regular repayment history of at least 12 months (of both principal & interest).
In case of a balance transfer, then the repayment history of the previous bank may be taken into consideration towards 12 EMIs.
Special Concession
None
Home Saver Option
No
Features, Eligibility and Concession
Pros
Low processing fee.
High LTV ratio.
Cons
No Home Saver option.
Pros & Cons
Application Procedure
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.
Add a Title
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.