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8th December 2015, 12:21 PM
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Join Date: Apr 2013
Re: South Indian Bank Millionaire Scheme

For meeting personal / family finance requirements including expenses towards purchase of household articles/ white goods / electronic / computer equipments, peripherals/ expenses for medical treatment / inland or foreign leisure travel / inland or foreign business travel / travel abroad on employment contract, etc. there is a facility of Personal Loan Scheme of SIB (South Indian Bank).

Target group

There shall be two types of Personal Loans.

(i) Individual Loans

Individuals permanently employed in reputed companies / firms / organizations / Government 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 lacs subject to the following :

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 travelling 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

South Indian Bank Personal Loan Scheme



Last edited by Kiran Chandar; 8th December 2015 at 12:25 PM.


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