South Indian Bank (SIB) Ashirwad Housing Loan

Apply for the South Indian Bank Ashirwad Housing Loan at Bajaj Markets and finance your dream home affordably. Benefit from interest rates starting at 9.50% p.a. and repayment tenures of up to 30 years, with loan amounts of up to ₹50 Lakhs.

Here is a quick look at the SIB Ashirwad affordable home loan interest rate and associated charges:

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

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

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

Apart from the interest rate, the SIB Ashirwad housing loan comes with a few other charges for specific services. Below are some of the additional charges applicable to this home loan:

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

To apply for the loan, you need to meet a few basic SIB Ashirwad affordable home loan eligibility criteria. These factors help the bank assess your repayment capacity and loan suitability.

• 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.

To apply for the SIB Ashirwad housing loan, you’ll need to submit some essential documents for identity, address, and income verification. The requirements may vary based on your employment type.

KYC Documents

• Two passport-size photographs of the applicant, co-applicant, and guarantor

• Identity Proof: Passport, Voter ID, Driving License, PAN Card, or Aadhaar Card

• Address Proof: Aadhaar Card, Voter ID, Driving License, PAN Card

• For NRI Individuals: Copy of Visa, Passport, Work Permit, and ID Card

Income Documents: Income documents for salaried and self-employed individuals are given below:

For Salaried Individuals:

• Minimum 3 latest salary slips (6 slips if salary is variable) or latest salary certificate

• The latest 2 years’ ITR with computation or Form 16 for the last 2 years

• Bank statement for the last 6 months showing at least 5 salary credits

For Self-Employed/Business Owners:

• The latest 2 years’ ITRs with computation sheet, profit and loss account, and balance sheet

• Proof of business ownership

• Last 6 months’ bank account statement

The SIB Ashirwad Housing Loan provides financial support for various housing requirements. You can apply for a loan for the following purposes:

• Construction of a new house on an owned plot

• Purchase of a flat, house, or villa

• Purchase of land and construction on it

• Repairs, renovation, or extension of an existing home

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

1. Click on the ‘Check Offer’ 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.

You can track the status of your housing loan application online by following these steps:

Visit the official website of the bank

Select the loan application tracking option

Log in using your registered mobile number and email ID

Click on the option to view your loan request

Check the application details on the redirected page

You can access your loan statement through any of the following methods:

• Net Banking: Log in to the bank’s internet banking portal and navigate to the loan section

• Mobile Banking App: Use the SIB Mirror+ app to check loan details and download the statement

• Branch Visit: Visit the nearest branch to request a printed copy of your loan statement

• Customer Care: Call South Indian Bank’s customer care on 18004251809 and request your loan statement

For any queries, assistance, or concerns related to your housing loan, you can reach out to South Indian Bank through the following support channels:

• Toll-Free Numbers (24*7)

  1800 425 1809
  1800 102 9408

• Customer Care Email

  Customercare@sib.co.in

• Exclusive NRI Service Centre

  +91 484 6689600
  +91 484 2388555

Repayment for the SIB housing loan can be made in the form of Equated Monthly Instalments (EMIs). You can conveniently pay your EMIs through:

• Electronic Clearing Service (ECS)

• NACH Mandates