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South Indian Bank Home Loan, Interest Rate and EMI Calculator 2019

(Updated on 12.01.2019) South Indian Bank Home Loan January 2019 –  Get Instant Quick & Easy Approval on SBI Home Loan. Loansninsurances.com provide a simple tool to calculate your Home Loan EMI on the basis of ✓Interest Rate ✓Loan Tenure ✓Processing Fee ✓Eligibility ✓Best Offers & more.

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Loan Amount
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City
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South Indian Bank Home Loan

South Indian Bank home loan your dream home is easier to realize. South Indian Bank home loan can be availed to fulfill all your needs like for purchase of ready to occupy house or flat or villas, flat or villas under construction, residential plot and construction of house, construction of house in own land, improvement or repair or renovation of own residential house, additions or enlargement of own residential house, takeover of existing housing loans, reimbursement of expenses incurred. South Indian Bank provides home loan at attractive rate of interest, low processing fees and at a margin of 10% to 25%.

South Indian Bank Home Loan Interest Rate

Rate of Interest

Starts from 9.45%

Maximum Loan Tenure

30 years

Category

Loan Amount

Salaried Class

60 times of Net Monthly Income

Business Class

5 times of average gross income as per IT returns

Next Gen

75 times of net monthly income

Agriculturalists

5 times of average gross income

NRIs

50 times of average monthly remittance

Senior Citizens

60 times of monthly pension or 5 times of gross total income

Processing Fee

Maximum Rs. 10,000

South Indian Bank Home Loan Features And Benefits

  • South Indian Bank provides flexible repayment options such as repayment beyond date of retirement.

  • Flexible option to purchase land and construction of house at a later stage.

  • There is no upper cap for home loan amount.

  • South Indian Bank offers a home loan holiday period of 3 to 36 months.

  • Primary security for South Indian Bank home loan is the residential property being financed.

  • Spouse can be included as co-borrower to avail South Indian Bank home loan.

  • Guarantor can be a close relative of the borrower.

South Indian Bank Home Loan Eligibility

  • Individuals who are permanently employed in reputed companies/ firms / organizations / Central or State Government Service.

  • Practicing or employed doctors having professional Medical Degree.

  • Business men.

  • Other categories having sufficient income or IT Return.

  • NRIs.

  • Agriculturalists, Next Gen (Professionals with net monthly income of Rs. 60,000), Senior citizens are also eligible for South Indian Bank home loan.

South Indian Bank Home Loan Documents Required

For salaried Individuals

  • Application form with photograph duly signed needs to be submitted.

  • Passport ,Voter ID card ,Driving License, Aadhaar Card , PAN card (PAN Card only as identity proof) as proof of identity and address.

  • Latest 3 Months salary slip showing all deductions and Form 16 needs to as proof of Income.

  • Last 6 months bank statement.

  • Pass Book where salary or income is credited.

For Self Employed Individuals

  • Application form with photograph duly signed.

  • Passport ,Voter ID card ,Driving License, Aadhaar Card , PAN card (PAN Card only as identity proof) as proof of identity and address.

  • IT returns for the last 2 years and computation of income for the last 2 years certified by a CA needs to be submitted as proof of income.

  • Bank statement or Pass Book Statement for last 6 months.

South Indian Bank home loan EMI Calculator

South Indian Bank Home Loan EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Home loan emi within seconds.
Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

For a loan against the amount of Rs 10,00,000 for 10 years at the interest rate of 9.80 % p.a., the EMI comes out as Rs. 13,105. To know the EMIs for all the years, see the below given table.

Home Loan Amount (Rs)

Interest Rate

(p.a.)

Loan Tenure

(yrs)

Monthly Installment (EMI)

Total Interest Amount

Total Amount (Principal + Interest)

10,00,000

9.80

1

Rs. 87,823

Rs. 53,875

Rs. 10,53,875

10,00,000

9.80

2

Rs. 46,053

Rs. 1,05,264

Rs. 11,05,264

10,00,000

9.80

3

Rs. 32,173

Rs. 1,58,241

Rs. 11,58,241

10,00,000

9.80

4

Rs. 25,267

Rs. 2,12,799

Rs. 12,12,799

10,00,000

9.80

5

Rs. 21,149

Rs. 2,68,926

Rs. 12,68,926

10,00,000

9.80

6

Rs. 18,425

Rs. 3,26,610

Rs. 13,26,610

10,00,000

9.80

7

Rs. 16,498

Rs. 3,85,834

Rs. 13,85,834

10,00,000

9.80

8

Rs. 15,069

Rs. 4,46,580

Rs. 14,46,580

10,00,000

9.80

9

Rs. 13,971

Rs. 5,08,826

Rs. 15,08,826

10,00,000

9.80

10

Rs. 13,105

Rs. 5,72,549

Rs. 15,72,549

South Indian Bank Home Loan MCLR w.e.f 20th November 2018

Loan Tenure

MCLR

Overnight

8.55%

One month

8.60%

Three months

8.75%

Six months MCLR

9.00%

One Year

9.45%

South Indian Bank Home Loan Application

You can apply for South Indian Bank home loan online through loansninsurances.com. Login the registration page and enter the required details. Both existing and new customers can apply for the home loan.

South Indian Bank Home Loan FAQs

Q1)Who can be considered as guarantor for South Indian Bank home loan?

Close relative can be considered as guarantor for South Indian Bank home loan.

Q2)What is the period of repayment for South Indian Bank home loan?

Period of repayment for Salaried Class, Business Class, Next Gen, Agriculturalists is 30 years and repayment period for NRIs and Senior citizens is 20 years.

Q3)What is the processing fees for South Indian Bank home loan?

Processing fees for South Indian Bank home loan is maximum Rs. 10,000.

Q4) What is the maximum loan tenure of South Indian Bank home loan?

Maximum loan tenure is 30 years for South Indian Bank home loan.