South Indian Bank Home Loan

Updated on April 16, 2026

Author: MybankingTips Team

South Indian Bank gives home loans at a good interest rate starting from 9.84% per year. They offer these loans for different reasons to help customers. Whether you're employed or not, living in India or abroad, you can apply for a home loan with them.

South Indian Bank Home Loan Highlights
Interest Rate	9.84% - 11.69% p.a.
Processing Charges	0.50% of loan amount + GST (Min. Rs 5,000; Max. Rs 10,000)
Loan-to-Value Ratio	Up to 90% of the property value
Tenure	Up to 30 years

Pre Approved Home loan | Check Eligibility & Apply Online

Table of Contents
Compare Interest Rates offered by other Lenders
Interest Rates
South Indian Bank Home Loan Schemes
Processing Fees & Charges
Eligibility Criteria for South Indian Bank Home Loan
Documents Required
EMI Calculator
FAQs

Compare Interest Rates offered by other Lenders

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI Bank	8.40% - 10.15% p.a.	8.40% - 10.05% p.a.	8.40% - 10.05% p.a.	Apply Now
HDFC Bank Limited	8.40% p.a. onwards	8.40% p.a. onwards	8.40% p.a. onwards	Apply Now
Kotak Mahindra Bank	8.70% p.a. onwards	8.70% p.a. onwards	8.70% p.a. onwards	Apply Now
ICICI Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
Federal Bank	8.80% p.a. onwards	8.80% p.a. onwards	8.80% p.a. onwards	Apply Now
L&T Finance Limited	8.60% p.a. onwards	8.60% p.a. onwards	8.60% p.a. onwards	Apply Now
Bajaj Housing Finance	8.50% p.a. onwards	8.50% p.a. onwards	8.50% p.a. onwards	Apply Now
LIC Housing Finance	8.35% - 10.35% p.a.	8.35% - 10.55% p.a.	8.35% - 10.75% p.a.	Apply Now
PNB Housing Finance	8.50% - 14.50% p.a.	8.50% - 14.50% p.a.	8.50% - 11.45% p.a.	Apply Now
Punjab National Bank	8.45% - 10.25% p.a.	8.40% - 10.15% p.a.	8.40% - 10.15% p.a.	Apply Now
Bank of Baroda	8.40% - 10.65% p.a.	8.40% - 10.65% p.a.	8.40% - 10.90% p.a.	Apply Now
IDFC First Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
Tata Capital Housing Finance	8.70% p.a. onwards	8.70% p.a. onwards	8.70% p.a. onwards	Apply Now
Axis Bank	8.70% - 13.30% p.a	8.70% - 13.30% p.a	8.70% - 9.10% p.a.	Apply Now
Godrej Housing Finance	8.55% p.a. onwards	8.55% p.a. onwards	8.55% p.a. onwards	Apply Now

Also read: Best Home Loan in India

South Indian Bank Home Loan Interest Rates

South Indian Bank Home Loan Interest Rates

Loan Slabs	CIBIL Score Slabs
Loan Slabs	>780	779-750	749-720	<720
Up to Rs 15 Lakh	10.14%	10.24%	10.49%	10.99%
Above Rs 15-35 Lakh	9.84%	9.94%	10.19%	10.69%
Above Rs 35-75 Lakh	9.84%	9.94%	10.24%	10.79%
Above Rs 75-150 Lakh	9.84%	10.14%	10.29%	10.94%
Above Rs 150 Lakh	10.14%	10.24%	10.44%	11.44%

Interest Rate for Self-employed Non Professionals

Loan Slabs	CIBIL Score Slabs
Loan Slabs	>780	779-750	749-720	<720
Up to Rs 15 Lakh	10.39%	10.49%	10.74%	11.24%
Above Rs 15-35 Lakh	10.09%	10.19%	10.44%	10.94%
Above Rs 35-75 Lakh	10.09%	10.19%	10.49%	11.04%
Above Rs 75-150 Lakh	10.09%	10.39%	10.54%	11.19%
Above Rs 150 Lakh	10.39%	10.49%	10.69%	11.19%

Home Loan Interest Rates for NRIs

Loan Slabs	CIBIL Score Slabs
Loan Slabs	>780	779-750	749-720	<720
Up to Rs 15 Lakh	10.34%	10.44%	10.69%	11.19%
Above Rs 15-35 Lakh	10.04%	10.14%	10.39%	10.89%
Above Rs 35-75 Lakh	10.04%	10.14%	10.44%	10.99%
Above Rs 75-150 Lakh	10.04%	10.34%	10.49%	11.14%
Above Rs 150 Lakh	10.34%	10.44%	10.64%	11.64%

South Indian Bank Home Loan Schemes

To suit the different needs of its customers, South Indian Bank provides two types of home loan plans.

SIB Decor: This plan is a top-up scheme accessible to both new and existing home loan customers. It can be used for:

New HL Borrowers:

This plan can cover expenses such as buying household items, appliances, electronics, computer gear, and furnishings like modular kitchens and furniture, or a mix of these needs in a new home.

Existing Housing Loan Customers:

This plan can also cover expenses for replacing the items mentioned above.

Here are some important details about the SIB Decor Home Loan:

Eligibility	Minimum CIBIL Score of 550
Loan Amount	Minimum: Rs 0.50 lakh Maximum: Rs 100 lakh
Margin	25%
Repayment Period	You can choose a maximum repayment period of 84 months (EMIs) or the remaining tenure of the Home Loan, whichever is shorter. No grace period or holiday period is permitted for repayment.
Charges	No upfront/processing fee/inspection charge No pre-closure charges

SIB Home Loan:

This housing loan scheme is open to both employed and self-employed individuals who qualify. You can use the loan for:

Buying a ready-to-move-in or previously owned house or flat that's up to 20 years old.
Buying land and building a house. If you buy land now and plan to build later, you just need to confirm to the bank that you'll use their finance to build on that land.
Buying a flat or villa that's still under construction, but it must be in a project approved by the bank.
Expanding your current house or flat.
Making changes, repairs, or rebuilding your house or flat.
Getting reimbursed for expenses you've had within the last two years for construction projects or for buying a ready-to-move-in flat or villa.
Transferring your existing housing loan to this bank.

Also Read : Best Home Loan EMI Calculator

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
Charges for late payment of EMI	Additional 2% interest
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
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.

Also read: Best Home Loan Fees and Charges

South Indian Bank Home Loan Eligibility Criteria

Age: 21-75 Years
Minimum Bureau Score of 600
Loan Amount : Up to Rs. 150 lakh (1.5 crore)

Resident Indians

Salaried: People who work for the government, public sector undertakings (PSUs), multinational corporations (MNCs), listed companies, and well-known private limited companies.
SENP (Self-employed non-professionals): Individuals involved in manufacturing, trading, wholesaling, retailing, or providing services.
SEP (Self-employed professionals): Professionals like doctors, chartered accountants (CA), company secretaries (CS), cost and works accountants (ICWA), architects, and engineers who are self-employed.
Agriculturists: Individuals involved in agriculture.
Senior citizens / Pensioners: Older individuals who have retired and receive a pension or retirement benefits.

Also Read : Best Home Loan Eligibility

South Indian Bank Home Loan Documents Required

Salaried Individuals

Completed and signed application form along with photographs.
Proof of identity, address, and age.
Salary slips for the last 3 months.
Bank statements for the past 6 months.
Form-16 and details of Income Tax Returns (ITR) for the last two years.
Title documents of the property.

Self Employed Individuals

Completed and signed application form with attached photographs.
Proof of identity, address, and age.
Income Tax Returns (ITR) and financial statements, which include balance sheet, profit & loss account, and schedules. These documents must be certified by a Chartered Accountant (CA).
Bank statements for the past 12 months.
For partnership firms: Latest partnership deed.
For companies: Latest Memorandum and Articles of Association along with a CA certificate on profit sharing ratio, list of directors, and shareholding partnership.
For Limited Liability Partnership (LLP): LLP Agreement.

Also Read : Best Home Loan Documents Required