BAJAJ FINSERV DIRECT LIMITED
✓ Home Loan from ₹2 Lakhs to ₹15 Crores ✓ Interest Rates Starting @ 7.49%

South Indian Bank (SIB) Ashirwad Housing Loan

Get a home loan of up to ₹50 Lakhs for a tenure of 30 years and turn your dream of owning a home into reality today!

Starting Interest Rate

9.50% p.a.

Max. Loan Amount

₹50 Lakhs

Max. Tenure

30 Years

You can apply for the South Indian Bank (SIB) Ashirwad Housing Loan on Bajaj Markets to manage your housing-related expenses with ease. With this loan, you can get up to ₹50 Lakhs, with interest rates starting from 9.50% p.a. You also get a flexible repayment tenure of up to 30 years.

SIB Ashirwad Housing Loan Interest Rates

The interest rates for this home loan are as follows:

Loan Type

Interest Rate

Housing Loan

9.50% to 15.38%

Disclaimer - The mentioned details are subject to change at the lender’s discretion.

Other Fees and Charges Associated with SIB Ashirwad

Below are some of the additional charges applicable to this home loan:

Types of Fees and Charges

Details

Processing Fee

Processing: 0.75% + GST (max ₹20,000); Admin charge: ₹10,000 + GST

Prepayment/Foreclosure Charges

NIL

EMI Bounce Charges

 ₹750.00 + GST

ECS/NACH Swap Charges 

 ₹500.00 + GST

Disclaimer - The mentioned details are subject to change at the lender’s discretion

Features and Benefits of SIB Ashirwad Housing Loan

High Loan Amount

You can borrow a higher amount of up to ₹50 Lakhs.

Low Interest Rates

You can enjoy interest rates starting from just 9.50% p.a., with a maximum of up to 15.38% p.a. If you're eligible under PMAY U 2.0, you may also get an even lower rate.

Flexible Repayment Tenure

You can repay the loan over a period of up to 30 years. There are no charges if you wish to prepay or foreclose the loan early.

Easy Application

You can expect a smooth and hassle-free application process, as the eligibility criteria are easy to meet.

Minimum Income Needed

If you earn at least ₹15,000 per month, you can apply for this loan.

High LTV

You can get up to 90% of the property’s value as a loan, helping you reduce your initial contribution.

Higher FOIR

You can get a higher loan amount with a Fixed Obligation to Income Ratio (FOIR) of up to 65%, depending on your income and other obligations.

View More

Eligibility Criteria for SIB Ashirwad Home Loan

Before you apply, make sure you meet the following eligibility conditions:

  • Age

You must be at least 21 years old if salaried, or 24 years old if self-employed. The maximum age at the time of loan maturity should not exceed 70 years.

  • Nationality

You must be a citizen of India.

  • CIBIL Score:

A credit score of 700 or above is preferred. A score of 680 may be considered if your repayment history is clean, with no delays or defaults.

  • Work Experience

    • If salaried, you should have a minimum of 2 years of work experience

    • If self-employed or running a business, a minimum of 3 years is expected (A 1-year relaxation may be given based on other factors)

Note: If you do not have formal business proof, a verification (CPV) of your business by the branch head or an approved third-party agency can be accepted. However, this may result in a slightly higher interest rate.

  • Income Requirement

You must earn a minimum of ₹15,000 per month (gross income), supported by a salary slip or ITR.

  • Collateral Requirement

A residential property can be pledged as collateral for the loan

  • Guarantor / Co-applicant Requirement

    • If you're married, your spouse must be a co-applicant or guarantor

    • If unmarried, a close relative or a loan protection insurance policy can be accepted

  • Credit Behaviour

There should be no Days Past Due (DPD) in your credit repayment record for the last 6 months.

How to Apply for the SIB Ashirwad Home Loan

You can apply for the SIB Ashirwad Home Loan easily through Bajaj Markets by following these simple steps:

  1. Click on the ‘Apply Now’ button on this page

  2. Fill in your basic details in the online form

  3. Select SIB Ashirwad from the list of available lenders

  4. Choose your preferred loan amount and repayment tenure

  5. Submit your application

Once you complete the form, a representative will get in touch with you to guide you through the next steps.

FAQs on SIB Ashirwad Home Loan

What is the minimum income required to apply for the SIB Ashirwad Home Loan?

You can apply if you earn a minimum monthly income of ₹15,000.

Yes, you can apply with a CIBIL score of 680, if your repayment history is clean.

Yes. If you're married, your spouse must be a co-applicant or guarantor. If you're unmarried, a close relative or a loan protection insurance can be accepted instead.

View More
Home
Home
ONDC_BD_StealDeals
Steal Deals
Credit Score
Credit Score
Accounts
Accounts
Explore
Explore

Our Products