South Indian Bank NRI Loans

I need to know more about NRI Flexi loan offer by South Indian Bank Ltd, for that I need your help as well?

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On your demand I will let you know more about South Indian Bank Ltd, NRI Flexi loan so that you can go through it.

Loan amount
Against prime urban property - Rs.1500.00 lacs
Against non-urban residential property : Rs.1500.00 lacs

Quantum of loan
Minimum : Rs.2.50 lacs

Security
Prime urban property (residential/non-residential) or Non- urban residential property : value at least 200% of the loan amount.

Paddy fields, unfilled barren fields etc will not be accepted. In the case of residents, the property offered as security should be in the name of applicant, spouse or their parents. In the case of NRIs, the property should be in the name of NRI or if applied jointly, either in the name of the NRI or such joint applicant. If the loan is applied for in the name of the close relative of the NRI, the property should be in the name of such borrower.

Repayment Period
i. Minimum 6 months;

ii. Maximum 120 Months through EMIs.

iii. If the loan is to be closed within 6 months from the date of advance, interest applicable for full 6 months to be collected.

iv. For loans up to and including Rs.100 Lacs with maturity period up to12 months, bullet repayment can be fixed.

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

Other terms & conditions
a) In the case of married persons, spouse also should join the documents.
b) Loan should not be granted to liquidate an existing liabilty of the borrower.


Address:-
South Indian Bank Ltd
Head Office
T.B Road, Mission Quarters, Thrissur 680 001,Kerala, India

Phone:-
+91-487-2420020, 2420058, 2420113