South Indian Bank Personal Loan - Features & Benefits

(i) Individual Loans

Individuals permanently employed in reputed companies / firms / organisations / Govt. service having remaining period of service equal to the repayment period.

Practicing / employed Doctors – having professional Medical Degree

Business men

Other categories having sufficient income /IT Return and who are capable of remitting EMIs.

NRIs

(ii) Group Loans to permanent employees of GOI and State Government , PSUs, Blue Chip companies and reputed institutions etc

Maximum quantum of loan

Maximum Rs. 3.00 lakh

Salaried persons : 15 times of the monthly net salary excluding the proposed loan deductions subject to a maximum of Rs.3.00 lacs.

Persons engaged in business/profession and filing IT Returns : Equal to the annual income declared as per the latest IT Return (without considering capital gains) subject to a maximum of Rs.3.00 lacs.

Persons traveling abroad on employment contract : 75% of total expenses / 5 times of monthly salary whichever is lower as per contract terms subject to a maximum loan of Rs. 3.00 lacs.

NRIs : 50% of the average annual remittance to their NRI account /spouse’s domestic account (excluding bulk remittance) subject to a maximum loan of Rs. 3.00 lacs.

Persons who do not come under the tax bracket and gives a declaration to that effect : Equal to the annual income declared by the applicant supported by appropriate documents to the satisfaction of the Branch Manager, subject to a maximum loan of Rs.3.00 lac

Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements. You often renovate your home to suit your changing needs. This loan can be used to carry out repairs / improvements within your existing owned residential properties.

Personal loans are taken primarily for fulfilling your personal aspirations such as vacation, a perfect wedding, home renovation or a much desired gadget. In addition to being relatively easy to apply for, personal loans are unsecured loans which means that you don't need any collateral to take this loan. They are one of the simplest form of loans with customer-friendly repayment terms.

A sudden requirement of funds is an unavoidable circumstance of business or personal life. Whether a personal necessity (hospitalization, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments.
In this context, it is pertinent to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinizing the validity of the said property and its current market value.

Running a business is not easy. You have to constantly think of ways and means to keep it going and growing. As a part of the growth plan, you require financing for expanding operations or to buy new equipment or inventory or simply increase the working capital. To help you with your financing needs we offer Business Loans that will help your business grow.