South Indian Bank Home Loan

I want to purchase a new home and for this I want to take home loan from South Indian Bank so tell me the Interest rate on the home loan in this bank? Tell me the process to apply for home loan? Also tell me the documents required for this?

My father wants to apply for Home Loan at South Indian Bank. He wants to know about interest rate for Home Loan scheme. So do you have any idea about Home Loan scheme of South Indian Bank?

[pooja]

As you are looking for information about Home Loan Scheme offering by South Indian Bank, so here I am providing complete information related to this scheme:

South Indian Bank Home Loan Scheme:

Purpose:
Purchase ready to occupy/Repurchase of flat/house aged up to 20 years
Purchase of land and Construction of House.
Purchase of Flat or villas under construction in Housing Projects approved by bank.
Additions to the house / flat
Alteration / Repair/ Reconstruction to the house / flat.
Reimbursement of Expenses incurred within two years for Flats/ Villa under Construction, and Purchase of Ready to occupy Flat/ Villas.
Takeover of Housing Loans.

Target Customers:
Resident Indian:
Salaried (Employees of Government, PSU, MNC, Listed companies and reputed Public and Private limited companies only)
SENP (Self employed non professional) Manufacturers, Traders, Wholesalers, Retailers, Service Providers
SEP (Self employed professionals) Doctors, CA, CS, ICWA, Architect, Engineer
Agriculturist
Senior citizen / Pensioner

Age Limit:
Minimum
21Years

Maximum
75 Years

Amount:
Minimum
Rs 2.00 lacs

Maximum
Rs 1500.00 lacs

Tenure:
Minimum
5 Years

Maximum
30 Years or 75 years whichever is less

LTV:
Up to 90%

Interest Rate:
Attractive interest rate at:
MCLR (6 Months) +0.10 % (concession of 0.05% to women borrowers)
MCLR (1 Year)

Eligibility:
Minimum Bureau Score of 600

Processing Fee:
0.50% of loan amount (Minimum Rs 5000 +Service Tax; Maximum Rs 10000.00).

Penal Interest:
2% p.a. for the defaulted amount for the defaulted period.

List of Documents required:

KYC Documents:
Two Passport Size Photos of the applicant/co-applicant and the guarantor.
Address Proof - Passport/Voters ID/Driving License/PAN Card/ Aadhar Card.
Identity Proof Passport/Voters ID/Driving License/PAN Card/ Aadhar Card.
Copy of VISA, Passport, Work Permit, ID Card (Applicable for NRI customers) .

Income Documents:
Salaried Class (Resident):
Min 2 latest salary slips (min 6 pay slips in case monthly income is variable) / Latest Salary Certificate.
Latest 2 Years ITR with Computation/ Form 16 for the last 2 Years.
Minimum last 6 months bank statement with min 5 salary credits.

Business/Self Employed (Resident):
Latest Two Year Personal ITRs supported by Computation of Income.
Proof of Business .
Last 6 months Bank account statement.

NRI Salaried:
Salary Certificate and employment contract .
Latest 1 year NRE a/c statement with any bank in India

Senior Citizen/Pensioners:
Pension Order Copy.
Latest 6 months Pension Credit a/c statement.
Latest 1 Year SB a/c statement.